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Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed)

06-23-2016 , 01:54 PM
Quote:
Originally Posted by hasu
I have my bankroll in € and playing in $ and just tried to sit at a low stakes table.

The top number is my bankroll before sitting down, bottom number after standing up without playing a single hand. Now I'm afraid to buy in at my regular stakes.

edit: I played around some more with it, and it seems like every single conversion for playing costs excactly 1cent?
lel might be one of them communication blunders
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-23-2016 , 08:15 PM
They aint going to exit. All this hoopla for nothing
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-23-2016 , 08:33 PM
Quote:
Originally Posted by djle2
They aint going to exit. All this hoopla for nothing
Wouldn't be so sure. Remain confidence has dropped dramatically after early results being better than expected for Leave. Long way to go though.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-23-2016 , 10:39 PM
Quote:
Originally Posted by NoSurprises
A 4% volatility rate when they are giving odds of 1.15 for "Remain". Lol, stars are pulling one over here.
The pound lost around 6% to the dollar within the last couple hours. The market clearly is highly volatile right now.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-23-2016 , 11:00 PM
Looks over according to betfair we are leaving cant beleive it tbh. Think this is a bad thing overall but as im in vegas and have a chunk of my roll in USD and EUR looks like this is going to be good from my selfish standpoint and in the future when withdrawing from stars.

Voted to stay and think overall this will hurt the country.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-23-2016 , 11:20 PM
yeah lol at anyone saying we staying nothing to see here, it was obvious the majority of people wanted out which i do agree will have a bad effect on our country for a few years at least, like some have said from a selfish standpoint having $ euros is pretty good for british players but overall its gay, one question, will stars keep the 4% charge now it looks like we are leaving the EU
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-23-2016 , 11:27 PM
Going to be really close especially with much of the bigger London areas left to report but leave at 51.3 right now
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-23-2016 , 11:36 PM
Quote:
Originally Posted by jayme87
...one question, will stars keep the 4% charge now it looks like we are leaving the EU
No. Once currencies stabilise they will not need the insurance.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-23-2016 , 11:50 PM
Quote:
Originally Posted by djle2
They aint going to exit. All this hoopla for nothing
**** me. A bunch of idiots... =/
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-23-2016 , 11:55 PM
Quote:
Originally Posted by djle2
They aint going to exit. All this hoopla for nothing
According to the counts right now it looks as if you're wrong unfortunately. The exit is going to happen.
EDIT: just seen your new post when I refreshed browser. "Idiots" is right.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 01:12 AM
http://www.telegraph.co.uk/news/2016...otes-to-leave/

wtf wasnt the odds like 10-1? i wish i had bet
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 02:07 AM
Quote:
Originally Posted by madlex
The pound lost around 6% to the dollar within the last couple hours. The market clearly is highly volatile right now.
I wasn't disagreeing with the market volatility - it was a comment about the odds stars had for remain. 1.15 to remain did not reflect volaitility, it reflected an ill founded confidence that the UK would remain. If they were telling us the market was volatile due to uncertainty there odds should have reflected that.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 02:45 AM
People who cashed out yesterday lost out huge. Was expected we would remain and the pound would strengthen which made sense to convert from usd to gbp before the referendum. As it turns out we left so anyone who left funds online just had a nice bonus when they do withdraw.

Last edited by U shove i call; 06-24-2016 at 03:02 AM. Reason: lol @doggz deleting his post <3
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 04:04 AM
Quote:
Originally Posted by _Loki_
Nothing to do with this 4% thing, but...

I have been told [but haven't confirmed] that if you are playing some games in one currency & that wallet is empty you will possibly lose a tiny amount because conversions are rounded to nearest whole coin. Thus every time you top up in a USD cash game, but the USD wallet is empty you will lose out a tiny amount to rounding error.

However I don't know what system PokerStars uses for rounding & I can't be bothered to experiment. I suppose one might lose some fraction of cent for every top up in cash.
There was a lot of discussion on this in the past and Stars never explicity clarified things. I've never heard that it only occured if a wallet was empty. I recall people saying that this 'rounding error' happened with every conversion. Ever since then I've been manually converting funds in the cashier! So simply keeping a small amount of funds permanently in each wallet would avoid the issue completely?
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 04:17 AM
Quote:
Originally Posted by Gandalf The White?
yeah that seems to be clear.. however one more thing:


there's already a 2.5% theft fee in place when you cashout in another currency.. their phrasing above is confusing, does it mean 4% on top of that as well?
You can avoid the 2,5% by making a euro or USD bank account in your bank.

The 4% applies to all forex trades as far as I can tell (even USD/EUR). It makes no sense that they need a 4% vig to compensate for the variance (1% would be plenty). It's basicly just a money grab.

Last edited by Auca32; 06-24-2016 at 04:28 AM.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 04:31 AM
Ok so does this also apply to the auto converter thing that u have to physically set up in stars yourself ? Whereby u leave your account in £ wallet and when buying into $ it auto converts for free? Don't think that's been mentioned...
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 04:40 AM
is there a 4% vig if I convert euro do dollar and vice versa? If so, why?
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 05:00 AM
$1.32 to the pound. ooooft
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 05:20 AM
sorry guys, just to make sure: if i only use one currency and its USD, this doesn't affect me in any way, right?
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 06:02 AM
Thank you for your email.

In order to make it easy to play games in currencies other than your 'Preferred Currency', PokerStars has enabled features which will allow you to seamlessly enter and leave games, without any conversion fees.

For example, if USD is your Preferred Currency, and you wish to play a game or tournament which takes EUR currency, you can buy-in directly from your USD account, without needing to convert funds first. Then you can have any winnings placed directly into your account in USD, automatically. There is no conversion margin for these transactions.

You can enable automatic conversions from the 'Settings' app in the lobby. Once in 'Settings', click on 'Global' then 'Multi Currency' and enable the following two options and click 'Apply Changes':

- Convert currencies automatically, without confirmation.
- Credit funds in my preferred currency when leaving a game.


With these options selected, your buy-ins will be converted automatically at the current conversion rates, and any money that you take from the tables or win in tournaments will be automatically converted back to your 'Preferred Currency'.

If you wish to change your preferred currency, simply choose the appropriate currency tab in the cashier, and click the ‘Set as preferred currency’ button in the 'Account Status' area of the cashier.

For example, to change your preferred currency to USD, click on the 'USD' tab of the cashier, then click 'Set USD as preferred currency'.

For more details on how Multi-Currency works, please take a look at the following web page:

http://www.pokerstars.com/poker/real...ulti-currency/

in particular, please review the Multi-Currency FAQ:

http://www.pokerstars.com/poker/real...ency/#faqbelow

If you have any other questions, please let us know.

Regards,

Jenni
Stars Support Team
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 06:04 AM
This email pretty much confirm that the 4% is only when u manually try to convert usd to other currency or vice-versa. Anyways, since yesterday i've play and I was not charge 4% so they tell the truth.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 06:13 AM
btw well done UK, hope more countries will follow...
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 06:46 AM
Quote:
Originally Posted by MiguelPicard
This email pretty much confirm that the 4% is only when u manually try to convert usd to other currency or vice-versa. Anyways, since yesterday i've play and I was not charge 4% so they tell the truth.
And only if it involves GBP.
EUR/USD/CAD shouldn't have 4% fee.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 07:00 AM
Quote:
Originally Posted by _Loki_
According to the counts right now it looks as if you're wrong unfortunately. The exit is going to happen.
EDIT: just seen your new post when I refreshed browser. "Idiots" is right.
I thought you were a credible poster but calling people,who want their independence back, such word shows how low you actually are.
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote
06-24-2016 , 09:22 AM
Quote:
Originally Posted by coach999
btw well done UK, hope more countries will follow...
The numbers show that old, poor and uneducated people want out. Just out of curiosity, in which of these groups are you?
Stars adds 4% vig on exchange conversion due to Brexit (Mod edit: vig now removed) Quote

      
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