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Dollars versus Pounds...

Discussion in 'Online Casinos' started by saladfingers, Mar 30, 2007.

    Mar 30, 2007
  1. saladfingers

    saladfingers Meister Member

    Occupation:
    Management
    Location:
    UK
    I had a promotional email today from Fortune Lounge advertising the fact that there's a potential $1.4m jackpot available on Mega Moolah.

    I'm in the UK: when I play Mega Moolah, there's a 1.4m jackpot available. Which equates to $2.75m.

    So which one is correct - is the jackpot 1.4m or $2.75m - and does the currency you're playing in effect the likelihood of you hitting the jackpot?

    Sorry - this might be a rubbish thread, but I'm just back from the pub, and I'm a bit confused...
     
  2. Mar 30, 2007
  3. ballysdb

    ballysdb Dormant account

    Occupation:
    automotive biller
    Location:
    Long Island NY
    I'm still at work, give me a few hours and I'll be nice and hammered. Maybe then I can answer your question!;)
     
  4. Mar 30, 2007
  5. Simmo!

    Simmo! Moderator

    Occupation:
    Web Dev.
    Location:
    England
    Jackpots are won and paid in the currency of the bet. On Mega Moolah, you can bet $6.25 a spin or 6.25. If you win the JP, you get $1.4mill or 1.4mill depending on which denomination you wagered in.
     
  6. Mar 31, 2007
  7. vinylweatherman

    vinylweatherman You type well loads CAG MM

    Occupation:
    STILL At Leisure
    Location:
    United Kingdom
    Small Print

    I have seen "small print" in some casinos where they reserve the right to pay progressives in dollars, even where the native account currency is the UK Pound. I do not know of any MG casino that has actually done this though (I think we would if they tried it).

    There could be some logic, as the vast majority of play would be in Dollars and Euros, and if Brits keep hitting the progressives they benefit from the near doubling of the payout. It is possible for the pool to take a big hit if too many progressives fall to the Brits while primarily fed by dollar play. MG probably have some kind of insurance, rather than resorting to the unpopular move of restricting payouts.

    The best thing to do is check the general terms to see if this is provided for, and if not otherwise stated, players should be paid as displayed in the currency of their wagering account.
     
  8. Mar 31, 2007
  9. Mike031

    Mike031 Banned User - violation of <a href="http://www.cas

    Occupation:
    not a loser :o)
    Location:
    not loserland *lol*
    That's only fair, because he play with money, that costs 2x a Dollar, so it will be very unfair, if he only got paid in Dollars!
    So why should he get paid 50% lesser than people, which play with $ ?
     
  10. Mar 31, 2007
  11. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    The big problem is the jackpot is effectively a 'pool' of real money which is fed into by taking a tiny % of the cost of each spin played.

    Now this 'physical pool' can not be more than one currency at a time, hence the problem & the OP's question.

    This is completely different from winning the 5-wilds jackpot on a 'regular' slot as this is just a simple multiple of whatever the bet size was, so the currency used (and bet size) is completely irrelevant.

    MG are either Smiling when the Progressives are won in Dollars, or cringing when it's in pounds.
    But since the house edge on all their slots is quite high, I expect they're smiling all the time! :D

    KK
     
  12. Mar 31, 2007
  13. Mike031

    Mike031 Banned User - violation of <a href="http://www.cas

    Occupation:
    not a loser :o)
    Location:
    not loserland *lol*
    Yes, that's certainly right, but i'm sure, that also very much palyers bet in Euro & Pounds, but for the jackpot is certainly the cheapest currency ;)

    It works also with another currencies, as you can see on Clubworldcasino (Clubeurocasino), which have extra for every curreny their own side and Jackpots, but i don't like them, because their bonuses (not more than 100%) are sticky and the maximum payout is only € 2000.- by a WR of 15x deposit + bonus and this is not really acceptable for me by a RTG Casino!

    On another casinos you have the same, or better bonuses (up to 300%) and they are cashable, but that's a story for an another thread :)
     
  14. Mar 31, 2007
  15. annoyed33

    annoyed33 Dormant account

    Occupation:
    Teacher
    Location:
    UK
    Play in Pounds if you live in the UK:

    Reasons: The cheque clears in 3 days instead of 6 to 7 weeks if a foreign currency cheque; You do not have to worry about currency fluctuations; If depositing by credit card etc., they take currency conversion commision; a Pound is worth far more than a dollar and they have equivalent prizes- so if you win, you actually winning a lot more.
     
  16. Mar 31, 2007
  17. Simmo!

    Simmo! Moderator

    Occupation:
    Web Dev.
    Location:
    England
    One would imagine Crypto are going to take a big hit on the MC jackpot which is fast approaching 6 mil. As US players are no longer accepted there is every chance this will be paid in Euros or Pounds while most of the first 5 mil was probably accumulated in $.

    I think Vinyl is right in that there may be an insurance policy on stuff like this.
     
  18. Mar 31, 2007
  19. wangpoker

    wangpoker Full Member PABnononaccred2 webmeister

    Occupation:
    affiliate marketing
    Location:
    Ontario/Canada
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  20. Mar 31, 2007
  21. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    You're having a laugh aren't you?

    I've paid quite a few $US cheques into my bank's current account - and it takes no more than about 4-5 working days.
     

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