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Exchange rate/casino rewards

Discussion in 'Online Casinos' started by LOOKAWAY, Apr 5, 2009.

    Apr 5, 2009
  1. LOOKAWAY

    LOOKAWAY Senior Wember PABnonaccred

    Location:
    England
    Hi, can some savvy exchange rate member tell me if this is a good exchange rate? Thanks..

    I won this balance of a free chip so I have to choose cheque as I have not made a deposit before. :)

    Edit: Is that 67 pence to the buck? good or crap? as I'm sure its more like 75 pence to the buck these days.
     
  2. Apr 5, 2009
  3. vinylweatherman

    vinylweatherman You type well loads CAG MM

    Occupation:
    STILL At Leisure
    Location:
    United Kingdom
    Better check this against a conversion at "tourist rates" to see if you are getting a fair deal.

    Casino Rewards have a fixed exchange rate for the rewards points, which are ALWAYS in US Dollars, but at a rate that was set some time ago, and never changes. In reward points, $10 always becomes 6.66, no matter what the prevailing rate is. The UK Pound has fallen, so a proper rate would give MORE pence to the dollar, which is probably why you think it is about 75p to the dollar. This is a free chip, but imagine losing this kind of amount each time you withdraw.
    I am surprised you didn't open the account in Pounds to start with, and avoid these currency exchanges. ALL my Casino Rewards accounts are in Pounds, and most MGS casinos offer the Pound as well as the Dollar (some Canadian$ too), and the Euro. Many have terms regarding which country's players may use which currencies. Generally, players are expected to use their own currency if offered, or the US Dollar if it is not. Using the Dollar when you could have used the Pound does not normally cause problems, it is non-UK players choosing the Pound that causes problems.
     
    1 person likes this.
  4. Apr 5, 2009
  5. LOOKAWAY

    LOOKAWAY Senior Wember PABnonaccred

    Location:
    England
    Hi, thanks for the reply. So how much are they giving me for my balance if i choose cheque? is it 67
     
  6. Apr 5, 2009
  7. thelawnet

    thelawnet Dormant account

    Occupation:
    programmer
    Location:
    UK
    They do a fixed 1 GBP = 1.5 USD.

    The true rate is up to 1.48 now, so you're losing very little.

    A couple of pounds at most.

    Wouldn't worry about it.
     
    1 person likes this.
  8. Apr 5, 2009
  9. LOOKAWAY

    LOOKAWAY Senior Wember PABnonaccred

    Location:
    England

    Hi, can you tell me which exchange rate website you get this info from, I usually use XE. But I pretty much find all of them to be a little wrong, and your pretty sure.
     
  10. Apr 5, 2009
  11. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    Wrong compared to what...?
    I also use XE and I think you will find that their site is 100% accurate and it's the others which are wrong!
    Their data is updated live every 60 seconds & as I understand it, it's the the official global exchange rate.
    Other sites only update once per day, or add a % for their own commission.

    In your screenshot 1:0.6779 = $1.4751 to 1 = about right IMO :thumbsup:

    KK
     
    1 person likes this.
  12. Apr 5, 2009
  13. LOOKAWAY

    LOOKAWAY Senior Wember PABnonaccred

    Location:
    England
    Wrong compared to what...?

    Well to the price the casino makes you pay.
     

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