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PokerStars Currency Exchange Rates PokerStars Currency Exchange Rates

10-23-2014 , 06:19 PM
Quote:
Originally Posted by Lefort
Sry for OT question, but does Stars still not allow WDs in CDN? Last I chkd iirc, I was only allowed to WD in USD. (I'm referring to wire xfers mostly but curious about other CDN methods as well.)
You can do wires in CDN.
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10-23-2014 , 06:23 PM
Quote:
Originally Posted by Sect7G
The best way for players to push Stars to return to the ways of old is to move sites asap
this. go go
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10-23-2014 , 06:23 PM
Quote:
Originally Posted by Sect7G
The best way for players to push Stars to return to the ways of old is to move sites asap, as this will speed up an inevitable process.
I think this is easier said than done...
PS clearly has most fishes than other sites... This means that a site change is worse for the reg...
Obv, the reg bottom line is to make the most money, and I don't think full regs table are the way to go.
So in the end most regs will remain on PS and they will earn less.

Obv as you said, things would change if a competitor enters the market, but I don't see that coming. PS has too much market share and any new competitor is gonna face this hurdle.
Maybe some new cryptosite could do the trick
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10-23-2014 , 06:40 PM
This only affects you if you deposit to USD when you deposit and withdraw in USD and not your native currency. Just converted £10 to $16.02 and the market rate is $16.03, then converted back to pounds and got £9.99.

Just don't make a deposit to the USD part of your cashier and do it to your normal currency and then convert manually in the cashier.
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10-23-2014 , 06:46 PM
This is the spot where seating script could become pure gold.
They can me easily programmed to seat block all the action. So on the table there will be 1 rec vs all other sit outed regs.
I always tried to think positive about Amaya, but is clear where we are heading and we should do something about it
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10-23-2014 , 06:51 PM
Is this the only place that the new cost was announced? I don't see any email from stars about it.

Most players are not going to see this thread...
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10-23-2014 , 06:58 PM
Quote:
Originally Posted by 4-Star General
I think this is easier said than done...
PS clearly has most fishes than other sites... This means that a site change is worse for the reg...
Obv, the reg bottom line is to make the most money, and I don't think full regs table are the way to go.
So in the end most regs will remain on PS and they will earn less.

Obv as you said, things would change if a competitor enters the market, but I don't see that coming. PS has too much market share and any new competitor is gonna face this hurdle.
Maybe some new cryptosite could do the trick
what do you mean pokerstars clearly has more fish then other sites exactly if you mean in total, your right as poker stars been the largest site has more total players and thus more fish.

However if you mean in terms of ratio or fish % of the total population your dead wrong.

its well known the standard of play on stars is tougher then most if not all other sites.

the major factor that attracts me to stars is the volume. it is realistically possible to play 100-200 hyper turbos an hour believe me ive done experiments on the micros to test this.

it is not realistic to expect to play that many games on any other site. that been said with the right games been offered and sufficient traffic there is no reason for this to not be the case in the future.
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10-23-2014 , 07:02 PM
WE USE TO BE POKER AND FOR THE PLAYERS........~Pokerstars
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10-23-2014 , 07:09 PM
Quote:
Originally Posted by LukeSilver
cut
I meant total fish count.

Anyway about fish/reg ratio maybe you are right, and other sites could have a better ratio but you should provide some data.
For instance, what is the highest grindable stake in those sites? I mean, what is the biggest game running on average on many tables?
Because... If the stakes we are talking about are small, regs won't switch obv
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10-23-2014 , 07:16 PM
Quote:
Originally Posted by Sect7G
The discussion around the Pstars head table for the past few years is how much can we take from players and still keep them playing. Since the buyout changes have just progressed at a dizzying speed.

In the future I see a viable competitor grabbing some of the market and only when this occurs will Pokerstars return to being a business that earned a reputation for putting customers first. Not because they want to but they will realize that not pinching every penny is the correct business move to try and reclaim their previous market share.

The best way for players to push Stars to return to the ways of old is to move sites asap, as this will speed up an inevitable process.
They bought out TILT ran it to the ground... they got nothing to worry about...

888 bans random accounts, disconnects mid tourneys and jsut returns orginal buyin

Party software is less sophicated then Atari, charges you to cashout and pays 76 percnet of the field. They realize the arent going to make guarntees so they just shutdown the site . GOOD SITE

IPOKER crahes, billion popups, softwares a joke

Ongame barley exist and stole everyones money

They are King and will hold us all to a KINGS ransom until someone steps up there game sadly...
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10-23-2014 , 07:18 PM
Quote:
Originally Posted by PokerStars Michael J
Hello,

PokerStars has made some changes to currency exchange rates and we thought we should provide a little context to the decision. PokerStars has historically applied the mid-market exchange rate from XE, and before that Reuters, for exchanging between USD and GBP, EUR, and CAD. That rate of exchange is simply not one you would have had from any financial institution or processor.

The policy change to introduce a margin on these currencies does move us more in line with the market, but we’re very confident that the new rate applied to your selected currency is still going to be extremely competitive. In fact, we’d say that it’s better than that offered by most banks, card issuers and payment providers.

The margin on these currencies, applied to the mid-market exchange rate provided by XE, will be applicable only at the point of deposit and withdrawal. There remains no fee to transfer between currency wallets in the PokerStars client, nor for joining or leaving poker tables in different currencies. We frequently review our policies across all parts of the business, which all go towards making PokerStars the safest and most secure poker site to play at, but we will post here again before any future currency exchange change goes live.

Sincerely,

Michael Josem
PokerStars Communications Team
You charge me money to play an online game (and for that a LOT of money). I shouldnt be hassled to also pay money just because you happen to show other types of currencies available for play. You should not make a comparison with a bank or any type of financial processor as you are a pokersite, if so, where is my interest on the money i have on pokerstars?
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10-23-2014 , 07:21 PM
Does anyone know what PS is doing with the deposits? Are they in a bank account that generates interest for PS?
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10-23-2014 , 07:31 PM
Quote:
Originally Posted by 4-Star General
Does anyone know what PS is doing with the deposits? Are they in a bank account that generates interest for PS?
The bolded part they happily talk about. The latter part not so much.
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10-23-2014 , 07:31 PM
InB4 George Soros.
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10-23-2014 , 07:38 PM
Quote:
Originally Posted by Sect7G
The bolded part they happily talk about. The latter part not so much.
Well this is pretty huge IMO.
What about the legal aspect of that?
Is PS (or any other poker/betting site) allowed to earning interest over you money? And eve if they do, should the player be warned about that?
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10-23-2014 , 07:46 PM
Quote:
Originally Posted by 4-Star General
Well this is pretty huge IMO.
What about the legal aspect of that?
Is PS (or any other poker/betting site) allowed to earning interest over you money? And eve if they do, should the player be warned about that?
I don't know the answer. Best of luck getting an answer from support.
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10-23-2014 , 07:54 PM
Obv I don't even try... I was only curious about PS freerolling with players' money.
Maybe we should ask a lawyer about out rights on our money deposited on sites
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10-23-2014 , 07:59 PM
The coffin didn't need anymore nails.
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10-23-2014 , 08:02 PM
Any time I've registered for a tournament and then unregistered, or joined a cash game and left with the exact buy-in, I've been credited 1 cent less. Ever since setting GBP as my automatic/preferred currency.

1 cent per transaction adds up, fast.
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10-23-2014 , 08:03 PM
This really is bang out of order imo. What next?, someone said earlier Amaya does not care about the game or its players and I totally agree. It's like they know they are the leading site but now instead of getting ideas to make it ever bigger and better, they are making sure they use this to their own selfish advantage.

It's about time we as players all started swimming in the same direction, that way we might see some changes for the better.
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10-23-2014 , 08:35 PM
Quote:
Originally Posted by 4-Star General
Does anyone know what PS is doing with the deposits? Are they in a bank account that generates interest for PS?
I believe that most businesses that hold clients' money in the proper manner, (segregated from their own money, and ring-fenced), can and do hold it in interest-earning bank accounts. From reading the link below, the bank pays the interest and simply expects the business to follow their professional regulations and accordingly pay the clients all, some or none of the interest earned.

I would assume that if it's not in a poker site's T&C, they would not, and would not be obliged to, pay any of the interest earned to their players, whatever balance they kept in their BR with the site.

http://www.rbs.co.uk/corporate/elect...#tabs=section3
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10-23-2014 , 08:38 PM
Virtually no one has played more hands on Stars than me. I've had 8 years as a pro, multiple SNE years, and have visited the Stars HQ and met all the top dogs there. I've been a "Fan Boy" for a long time, but no longer.

I feel a little for those guys because they all had the best interest of the players at heart, and it was clear they love the game and genuinely cared for the health of the game. Now however they no longer work for a company with the same ethos, and they are forced to defend decisions I doubt they like or agree with.

Pokerstars spent years building up an amazing rep with it's players, albeit tarnished a little in recent times due to changes in the ecosystem and players' rewards being reduced. However now that goodwill is disappearing fast. Amaya are dong a great job of ****ing it all up.
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10-23-2014 , 08:39 PM
Pokerstars clearly states that player funds are segregated. As for the question of interest, they also state that they holding it in a "leading European bank" (so I doubt they're earning very much...).
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10-23-2014 , 08:51 PM
Quote:
Originally Posted by theonepunter
This only affects you if you deposit to USD when you deposit and withdraw in USD and not your native currency. Just converted £10 to $16.02 and the market rate is $16.03, then converted back to pounds and got £9.99.

Just don't make a deposit to the USD part of your cashier and do it to your normal currency and then convert manually in the cashier.
I think the euro is down on value at this time, so noproblem depositing w dollar, as i have been doing over ten years, but as everything seem to go down now, the pools fees, vips, transger costs to banks, i am just a 2 tabling player and was worried these to party level changes before u were even here. Will be making my change out of stars as i dont need it. Will keep looking where its in about 2018 but the poker and regulation changes have also become something else. Will rigure some other additional income also. I knew stars became the last possibility for me in 2013, and then i read it was sold to ongame or so and is like party where i havent been playing since 2005 for much the same reasons. I was thinking this was the last nail, but i am still thinking of many other possibilities. The poker world inside and outside are constantly changing. But i think the final nail is now done in the poker world as i know it now, though i will still survive and msube enough positive things happen, but the rope has been getting tighter also as regulations, tax and other laws in more and more countries, that survival w online poker needs just the final kick, meaning using the remaining possibilitied online poker to the end. I have about two years with how things are now, and need new things to replace them the next 40 years.
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10-23-2014 , 08:53 PM
Quote:
Originally Posted by PokerStars Michael J
...The policy change to introduce a margin on these currencies does move us more in line with the market, but we’re very confident that the new rate applied to your selected currency is still going to be extremely competitive...
Michael, how the **** can you make this claim!?**

There are companies around now (such as transferwise.com) that exchange using very, very low rates that blow banks out of the water. They are competitive- Pokerstars are now committing day robbery. It is little short of theft.

If I deposit 1,000 GBP right now with Stars I get $1,562.65 and if I then withdraw that $1,562,65 I get back just 950.69 GBP!!!!!!

That's a virtual theft of 50 GBP!!!!! That is ****ing huge!!!!!


----

**Actually I've already answered this question in my response three posts above: You now work for a company you have to defend despite clearly not agreeing with what they're doing.

Last edited by Mike Haven; 10-23-2014 at 09:40 PM.
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