Main Street Group confusing terms!

[GrandMaster]

The intelligent way to handle this is for the casino to have separate accounts in USD, GBP, EUR, etc. Of course, since we are talking about online casinos, there is no guarantee that anything will be done in the intelligent way. The cost of conversion between accounts should be in the range of 0.1%, since there is no handling of physical cash involved.

[Casinomeister]

Originally Posted by vinylweatherman

...I think someone with connections should try to get an explanation of what is behind this term, as it isn't "bonus abuse" through currency edge.

Has anyone bothered to PM VSummer, Mainstreet's rep here?

Well, I have - and I anticipate an explanation hopefully sometime today.

I am shocked that Brian has them on his approved list.

Shocked? C'mon, give me a break. No need for an unwarranted slam of a casino. No one mistreated you, hung the phone up in your face, or stonewalled you. Mainstreet is one of the best Playtech groups, if not THE best Playtech group of casinos in the business. I really don't think they are intentionally hiding terms, acting unprofessionally, or practicing deceit. They have a representative who makes herself available in this forum to answer questions or clear up problems like this. Please have the courtesy to contact these individuals when posting a complaint. This is clearly stated in the Forum Rules:
http://www.casinomeister.com/forums/forum_rules.php

2. Posting Complaints

2.1 - Complaints against casinos or pokerrooms will only be posted in the "Online Casino and Poker Complaints" forum.

2.2 - Do not post a complaint without notifying the appropriate casino representative by either PM or email. The casino representatives are listed here.

2.3 - Ensure your complaint is free from offensive or abusive language, and that the complaint is tactful and truthful. Making false claims are grounds for banishment or drawn and quartering.

The reason for this rule (2.2) is so that we can come to a resolution quickly. And that's what we want, right?

Originally Posted by Cynthia777

but the thing that I find a catch-22 with them is their promotion of getting an extra $20 free bonus when you send them your scanned documents, but, one of the requirements of getting this is having deposited via credit card, and we all know how difficult it is getting a deposit through via this method.

The credit card difficulties only apply to credit cards issued in the US. I have no problem depositing via MasterCard.

[Vesuvio]

Originally Posted by vinylweatherman

There is NO POUND EDGE involved here either, so there would be no benefit in depositing in pounds if you could deposit in dollars.

But there is a "pound edge" if you're claiming a bonus, isn't there? It's a very strange approach to dealing with it and it's going to trap some people who weren't thinking of maximising their advantage, but in some ways it's preferable to banning the use of pounds completely for non-UK players.

What I would say is that if they're going to take 5% off it should only be after a bonus has been claimed, as otherwise there's absolutely no justification.

[CROGO]

Thanks for getting to the bottom of this Bryan.

For what its worth, I did email and call CS at the various Main Street casinos in January and I did tell them I would PAB here if the matter wasn’t resolved. I think I waited long enough for them to fix the problem. No, I didn’t contact VSummer. I didn’t realize I was supposed to email her specifically and I didn’t see Main Street listed. Next time I will know better.

I did feel I was getting stonewalled by CS, and others here have commented the rule is meant to trap unsuspecting people. So I know I am not alone. Yes please get the matter resolved quickly.

But I don’t get the whole bit about “wagering” in a currency. You buy chips with a currency. Those chips are worth what you and the casino agree they are worth. They aren’t legal tender. I can’t buy a $25 chip at Trump’s Taj Majal and use it to pay my taxes. An online casino chip is worth even less because it is “virtual” not “real”. The chip can be worth $1, $100, or the equivalent of one GBP, but before I can get that value, I need to cash the chip in with the cashier at that casino. Normally, the currency you buy the chip with is the currency you cash the chip in with. If the currency was converted into dollars after depositing, as stated, I should have been able to withdrawal in dollars. If the currency was kept in pounds, there should be no penalty if there was no currency conversion into dollars.

So did the currency really change through a bank?
If so when?
And how many times was it changed?

Fair enough?

Bryan, I love the Ben Franklin quote. I saw it on a Samuel Adams Beer calendar a few years back. The best quote, by William Blake, went like this:

"But if at the Church they would give us some Ale,
And a pleasant fire our souls to regale,
We'd sing and we'd pray all the live-long day,
Nor ever once wish from the Church to stray."

[spearmaster]

Originally Posted by Vesuvio

But there is a "pound edge" if you're claiming a bonus, isn't there? It's a very strange approach to dealing with it and it's going to trap some people who weren't thinking of maximising their advantage, but in some ways it's preferable to banning the use of pounds completely for non-UK players.

What I would say is that if they're going to take 5% off it should only be after a bonus has been claimed, as otherwise there's absolutely no justification.

There is an edge in the value of the currency - but there is not necessarily any additional edge from playing (ie. you can't bet 75 pence units at blackjack, only 1 pound units).

If they can justify the reason for taking of 5% (currency exchange) then they really ought to apply this across the board. If they cannot justify this then there is no reason that anyone should be charged 5% no matter what currency they play in.

From experience, I have determined that the average currency exchange will cost you between 1-1.5% in value. This is before any fees deducted on either side for providing the service. So while I still think 5% deductions suck, I can see why they do it and don't think that this is unreasonable, provided it is clearly stated and applied in a fair manner.

Just for the record, Neteller's conversion charges are quite high - especially when you move money to your debit card. I easily lose 5% from the time someone sends me money to the time I have the cash in my hot little hands. I have complained about this before but it doesn't appear that there is much they can do about it.

[soflat]

CROGO, If you don't mind, can you tell us what country you signed-up and played from?

And, of all the casinos out there, how did you end up playing at two casinos within the same group?

Originally Posted by spearmaster

There is an edge in the value of the currency - but there is not necessarily any additional edge from playing (ie. you can't bet 75 pence units at blackjack, only 1 pound units).

If they can justify the reason for taking of 5% (currency exchange) then they really ought to apply this across the board. If they cannot justify this then there is no reason that anyone should be charged 5% no matter what currency they play in.

If GBP depositors get 70% more than USD, that is a decent edge.

I don't think it matters why they have the rule. Is it because of bonus 'abuse' or currency conversion fees? The casino can set whatever fees they wish as long as they state it in their T&Cs.

[derelict]

They probably could make the 5% fee more apparent but I think I tend to think this isn't that big a deal and maybe you should let it go. I've played at a couple properties of theirs and my impression is that they are basically honest if sometimes lacking in their handling of customers.

I do think it would make more sense to disallow people from using currencies other than that of their home country. Really they're only hurting themselves by allowing players to claim bonuses in GBP while hitting them with a withdrawal fee. With all the other options out there, who's going to want to play somewhere that hits you with semi hidden fees?

On the topic of reputable Playtechs, I would seriously like some suggestions. It's my favorite software but I still haven't found one that inspires confidence. Main Street isn't bad but they tend not to read my emails before they reply. Not to mention the pants shit worthy email they send out when you make a withdrawal.

[GrandMaster]

Originally Posted by Vesuvio

But there is a "pound edge" if you're claiming a bonus, isn't there?

Why is it beyond most casinos' capabilities to give £60 or £55 instead of a $100 bonus?

[scrollock]

Originally Posted by Casinomeister

Has anyone bothered to PM VSummer, Mainstreet's rep here?

Well, I have - and I anticipate an explanation hopefully sometime today.



Shocked? C'mon, give me a break. No need for an unwarranted slam of a casino. No one mistreated you, hung the phone up in your face, or stonewalled you. Mainstreet is one of the best Playtech groups, if not THE best Playtech group of casinos in the business. I really don't think they are intentionally hiding terms, acting unprofessionally, or practicing deceit. They have a representative who makes herself available in this forum to answer questions or clear up problems like this. Please have the courtesy to contact these individuals when posting a complaint. This is clearly stated in the Forum Rules:
http://www.casinomeister.com/forums/forum_rules.php

2. Posting Complaints

2.1 - Complaints against casinos or pokerrooms will only be posted in the "Online Casino and Poker Complaints" forum.

2.2 - Do not post a complaint without notifying the appropriate casino representative by either PM or email. The casino representatives are listed here.

2.3 - Ensure your complaint is free from offensive or abusive language, and that the complaint is tactful and truthful. Making false claims are grounds for banishment or drawn and quartering.

The reason for this rule (2.2) is so that we can come to a resolution quickly. And that's what we want, right?




The credit card difficulties only apply to credit cards issued in the US. I have no problem depositing via MasterCard.

right i will have to be guarded on my response to this group, as i have never had any dealings with them in either a player capacity or a professional capacity so i will be upfront about this.

i have heard enough on other forums not to play here,and thats excluding the playtech factor.

so i would love to hearryans explanation why they are included here, when not a single non-betting person in the UK has ever heard of them, yet even lesser operations without highstreet presence (like getminted,virgin etc) are household names.

i stand to be corrected, but it has been mentioned on these boards before, is any of these operations are they just companies who are in cheap offices above some shops who could dissappear at minutes notice, that is certaibly the impression i get.

but as i said i have never had any dealings with this group at all,whereas bryan says that any group he allows onboard here,that he has personally vetted them, so whats the lowdown on this group (obviously within reason with what you can say)

[scrollock]

Originally Posted by scrollock

right i will have to be guarded on my response to this group, as i have never had any dealings with them in either a player capacity or a professional capacity so i will be upfront about this.

i have heard enough on other forums not to play here,and thats excluding the playtech factor.

so i would love to hearryans explanation why they are included here, when not a single non-betting person in the UK has ever heard of them, yet even lesser operations without highstreet presence (like getminted,virgin etc) are household names.

i stand to be corrected, but it has been mentioned on these boards before, is any of these operations are they just companies who are in cheap offices above some shops who could dissappear at minutes notice, that is certaibly the impression i get.

but as i said i have never had any dealings with this group at all,whereas bryan says that any group he allows onboard here,that he has personally vetted them, so whats the lowdown on this group (obviously within reason with what you can say)

actually forget all that,put it simply, no reputable UK webmaster would promote this group above other Uk ops, so why is it promoted here ?