+ infinity

Would really like to hear the logic being used to justify doing it this way.

I refuse to pay a vig on currency conversion. That's simply ridiculous.

The best solution is let players keep their balances in their own currencies and allow to play a game in another currency without fees. If I have a $ account, I can jump right into a Euro game and it will instantly convert without a fee.

Which is the Party way and is by far the best method. I think I read somewhere that Stars are doing this because people from Europe will find it less intimidating when first signing up for the site if they can play in their own currency. Well thousands seem to have no problem with it on a nightly basis. Whenever Stars have seemed to implement something not good in the past it has turned out good so I'm willing to give them a chance on this, but I can't see how this method is going to be anything other than terrible.

+1000

I think what would work better than charging a conversion fee would be charging a flat rate, say $5 a month, to have the ability to transfer from one currency to another any time you'd like. This would make it easier for players to play in multiple currencies, and wouldn't alienate those who don't want to pay every time the convert.

Lets try to keep this thread constructive and on-topic.

I do hope people will at least try out our system before they judge it. I also hope that some of the smart people hiding in the back rows here at 2+2 will take the time to directly compare our system with that of other operators, in terms of ease of use in real situations and the value for money it represents.

The decision on this design was made after months of research and discussion. I can assure you we considered the pros and cons of 'splitting the player pool', as well as the possibility of adopting the same system as is used at some of our competitors. We feel strongly that our system not only represents better value, but meets more of the needs of players for whom USD is not the native currency.

Regarding the margin applied to the exchange rate. In our initial research we found that every site we studied applied such a margin, with some charging as much as 2.79%. Some also applied this margin to deposits and cashouts (which PokerStars doesn't do), and every single site also charged a higher rake (particularly those that had tables in other currencies too). Compared to this (and also compared to the rates offered by banks and other currency exchange companies), PokerStars' margin of 1% on the mid-market rate represents excellent value. You probably won't find a better rate anywhere. In addition, PokerStars is being up-front and honest about the margin while other operators choose to hide it in the fine print or not disclose it at all.

A margin of some kind is a necessity, as there is such significant risk in currency trading (all reputable sites match player deposits in segregated accounts, so if you move $100 USD to EUR, so do we).

The idea that you can convert money anywhere without being subject to this margin is a fallacy. I strongly encourage players who believe it is true to compare the rates they are being given to the actual mid-market rates supplied by Reuters, XE, or another reputable source.

Seriously, keep all teh tabels in $ and allow people to have balances in multiple currencies is by far better than this retarded [sounding] system

This is beta, and Stars is surely listening, so it's early to jump to conclusions.

so when are you planning to add LHE tables in €?

So many people make so many valid points it's scary (note: from all countries). The vig conversion is ridiculous. Why can't we just sit and leave any table we want without worrying about anything? Whatever.

I will say this (and I NEVER complain about anything Stars does, I love Stars). If this splits the player pool I'm gone.

This is coming from someone who will hit 600K VPP this year, hit 600K VPP last year (was planning on elite next year), someone who choose to play Stars instead of Party and someone who has played Stars almost from the beginning.

Of course there's a risk, but that's the choice you make when trying to expand your market. If you truly believe this idea will appeal and attract new customers, then surely the extra revenue you receive from them will far outweigh any losses you may or may not make in currency conversion. But of course you want the best of both worlds; zero risk + extra customers at our expense.

Well the Party system doesn't seem to have this (ignoreing a currency fluctuation while at the table). See here for the confirmation when I asked.

Juk

Ok I'm kind of dumb.

So basically now there are going to be Euro tables and Dollar tables...and if you want to sit at those given tables u have to convert your cash to that currency and pay a fee to do so?

So if I'm trying to sit at the fishiest 50NL tables and they are all Euro tables...I'm going to have to pay pokerstars in order to sit down?

I'm concerned like you about the splitting of the player pool. I'm thinking of going for SNE myself next year also, so this could have a major impact on that decision. But let's not make rash decisions until we have all the facts. You will still be able to play across currencies if needs be. Just the cost of having split currencies may be too high for some. Dunno, gonna have to wait until we some more input from the beta testers, and whether Stars make any amendments to the charges based on feedback.