Playtech CAD account - be warned.

chayton

aka LooHoo
webmeister
PABnonaccred
CAG
Joined
Jun 5, 2006
Location
Edmonton Canada
I have 2 Playtech accounts, one of which I opened in CAD without thinking. I play a lot of slots and progressive slots and just realized that the software is charging me 20% exchange rate on progressive games! For instance Wall St. is 50 cents per spin, but it's costing me 60 cents - Cinerama is 30 cents (instead of 25) - Queen of the Pyramids is $1.62 instead of $1.35

Considering that the exchange rate is a little less than 4% right now, that's ridiculous.

Anyhow I've contacted the casino to close my CAD account and I'll set up another one in USD. I just wanted to warn my fellow Canucks not to open an account in CAD if you play any progressive games!

EDIT: I just realized that the games pay out with the same percentage....duh. So nevermind.
 
Last edited:

chayton

aka LooHoo
webmeister
PABnonaccred
CAG
Joined
Jun 5, 2006
Location
Edmonton Canada
I've been thinking about this....If I'm playing Wall Street for 60 cents ($.50+20%) and win $10, the software pays out $12 ($10+20%) so that part's good. BUT....if I won the progressive jackpot, would that also pay out at 20% exchange????? Probably not right? :confused:
 

chayton

aka LooHoo
webmeister
PABnonaccred
CAG
Joined
Jun 5, 2006
Location
Edmonton Canada
Just FYI

I got a PM from Phil @ BetFred, paraphrased below:

Betfred said:
I have spoken to Playtech and thay have informed me that they get their exchange rates from www.oanda.com.

They have assured me that any progressive wins would be paid out using the exchange rates provided on the day in question.

So if you have a CAD account at Playtech, you're paying 20% exchange on your bets on progressive games - and although any wins you get in the games are paid out at that same 20%, if you win the progressive jackpot, you'll be paid (today) with only 4.8% exchange.

Good to know, right?
 
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