Who's getting Mega-Rich off all our Rival pennies?

[KasinoKing]

Someone will no doubt be able to remind me of the name of that film with Richard Pryor in, where he channels all the 'spare' half cents from everyone's salary in a huge corporation into his own bank account & gets REALLY rich!
(Something's telling me it was one of the Superman films... No.3?)

Anyway, it got me thinking; At the end of every month when I get my affiliate earnings (if any!) from Rival casinos, they always 'lop off' the odd pennies.
e.g. I just got an e-mail from one saying they had paid me $60.39, but the processor (Pantasia) only sent exactly $60.00 to my Neteller account.
(Even when it is $XX.99, they only give me $XX.00)

I've just totted up all this months lost pennies, and it comes to $3.14

Now that's not a lot, but multiply that by 100's of affiliates and it's a tidy sum!

So just who is getting rich off all our pennies?

[winbig]

I don't remember the movie you're talking about, but two other movies come to mind. "Hackers" and "Office Space" both did the same thing.

That's really odd that they don't round up/down to the nearest dollar. Hell, even the IRS does this. If it's .50 or over, round up; .49 or lower, round down.

[Pocketdiggers77]

Some sportsbooks I've played at do the same thing. If you play a parlay and it pays odds cents (which is alsmost always the case when playing baseball) they always take the remaining change. Just as you said from .01 to .99.

I think it is semi-rougish behavior.

And yes you were correct Superman III, also in one of my favorites Office Space and Hackers. Its called the Salami Technique. LOL. Not on my salami.


http://www.snopes.com/business/bank/salami.asp

[RobWin]

Why do they not just pay exactly what is owed ?? Or even pool it until next month and then give you the whole dollar amounts...

[chuchu59]

Several years ago, there was a case where a bank employee was able to round down interest balances of customers and steal the odd cents. That amounted to a tidy sum as there were tens of thousands of customers.

KK, I understand that Rival's processors dont deal with odd cents as I must always withdraw in whole dollars. However, since I assume that you have accounts with them, they should reinstate the odd amounts (similar to cashback) into your casino accounts. Alternatively, as with accounting practices the odd balances should be carried forward and added to the next balance so in the long run the most you can ever lose is 0.99.