I just realized that the Course between Dollar and Euro is almost 1:1 (almost..). Last time I deposited there was a major (not huge) difference between the two. I just deposited again, because I wanted a bigger Bankroll and realized that I only got a couple of Dollars more, than I I deposited in Euro.
Wouldn't this mean that in some way I (and all others who live in the EU) made like free money? Because if I withdraw the same amount that I deposited (in $), I will get more back (in € looking back how much I deposited in € and got in $.
And since your average citizen doesn't have to pay more foor food etc, because prizes have not gone up (yet?) that would mean I now have more money.
Do I see it right or am I some kind of retard regarding economy?
I typed this fast, so I guess there a lot of grammar mistakes, sorry if't unreadable!
Like Investing and Speculating.. Just with Poker Bankroll Currencies
Joined: Mar '09
Location: Canada
Age: 36 (M)
Posts: 3207
When i deposit 100$ canadian i only get 80$ usd lol but when if i withdraw id getter back. All works out in the end. Wouldn't lose or gain any money and the sites definitely not gonna lose lol. If the $ or € changed tho u can gain or lose money depending on the market.
Last time I deposited 30€ I got about 38$ or something. This time I only got 31$.
Meaning: Let's say I wanna withdraw my 30€ back. Back then I got the 38€. But now I would have to withdraw only 31$ (maybe 32$ because off fee - don't know how much in % it is exactly, but anyway..). So I would have 38$-32$=6$ now for free. And since as I said the prices for stuff is still the same the argument of it's still worth the same is not right (Of course it is, but you know what I mean)
Joined: Jun '13
Location: Canada
Age: 80 (M)
Posts: 3700
In your first 30E yes if you make a cash out you will make money doing it cause since the U.S. dollars went up in the market. However it depends of the site you are dealing with some will take a cut on the exchange rate so your profit would be less in this case.
I think you play at Full Tilt, correct? They (along with PokerStars) charge a 2.5% currency conversion fee nowadays (they started doing that about 6? months ago), so that won't help either.
Make sure you add EUR as a currency on Pokerstars, and deposit there. You can convert EUR to $ (and the other way around) inside the client, without the fee. Then transfer them to Full tilt. This way you'll save 2.5 % on deposit, and again 2.5% on withdrawal...
Good luck. I made a thread about this the other day, if you're interested.
Joined: May '13
Location: Mauritius
Age: 32 (M)
Posts: 2688
Hmm yeah but if you thinking of making money because of exchanging currencies when depositing in poker site then i think we can say that you doing something wrong, you should be making money not trying to from depositing, anyway just make sure you dont lose much, that is do not cash out when you are in an unfavorable situation , like the dollars rte has fallen and so on, anyway good luck mate at the tables, cheers and have fun!
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
Well at some point you are right. It all depends on timing and the amounts of money you have used for all your transactions. Some estimate that the euro will drop lower than the dollar this year. I hope that this wont be the case.
Joined: Oct '14
Location: Serbia
Age: 34 (M)
Posts: 4358
Interesting thread... As I see current ratio of e and $ are around 1:1,2 If I am not mistaken... But if they give you for 31$ 30e, than you can make money just for changing currency O.o Thats a nice way to make money xD
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
yeah dude- you realized that you can make a profit (or a loss) just by buying and selling same currency at different times. now on to polishing your new found skills- there's is a thing called forex... google it and who knows, maybe you're the next millionaire in the making.
Joined: May '08
Location: Germany
Age: 59 (M)
Posts: 6786
Some stuff, mostly food stuff, actually did get more expensive in Euroland. So your advantage will be very small. But yes, of cause it is good to have other currency, if your own type of money gets debased.
Joined: Jan '13
Location: Philippines
Age: 57 (F)
Posts: 857
basically,it is recent problem for those having euro to dollar,and dollar to euro deposit and cash out process.i know what it feels when someone wanted to make deposit having an instance deduction .however, the only way we can reach and take advantage is play powerful skill.some are just entertainment only .but be sure your profitable because being a mobsters is great player...
looking back how much I deposited in € and got in $.
