pokerstars gbp added to cashier

pokerstars now have the option to change your balance into GBP as well as the euros offered and the default USD. I have my bankroll as dollars at the moment and was wondering if anyone had any suggestions on what currency to have? Would it make sense for me to have my bankroll in GBP because i live in England and the majority of the money i spend is GBP? Im thinking its pretty irrelevant because no one can tell how the exchange rates will vary but interested to see if i can squeeze a little more profit from my bankroll abusing the exchange rates.

there wont be many tables running anytime soon but might be good for you to convert to gbp before cashout b/c ps takes 1% rate and normal is dunno 2%?

if it works like the euro currency works youll get destroyed on exchange rates every time you buy into and out of dollar cashgames/tournaments i think?

i saw this thread here the other day, apparently it's vig-free now to switch between

On January 27 2010 09:11 PS Support Guy wrote: Hi 2+2, Today we made a number of important changes to the Multi-Currency Features at PokerStars, in order to address some of the concerns raised by our players. First of all, PokerStars has changed the way in which our exchange rates are determined, as follows: Margin Waiver for Game Play: Officially, the rate is still calculated by adding 1% to the Reuters mid-market rate. However, PokerStars will now waive this margin, as long as the funds are used to play the games, not for currency speculation or any other purpose. Effectively, this means that currency conversions performed in the PokerStars client will use the Reuters mid-market rate without any adjustments. Margin Waiver for Deposits and Cashouts: PokerStars will use Reuters’ mid-market rate without any adjustments for any deposits or cashouts that are performed in a supported account currency (US Dollars, Euro, British Pounds or Canadian Dollars – see below for more information). For deposits and cashouts in other currencies, PokerStars will waive 0.5% of the margin (making the effective margin 0.5%). Exceptions: PokerStars’ Multi-Currency features are strictly for playing the games offered. PokerStars is not a foreign-exchange service or bureau de change. The PokerStars Security department will be actively monitoring for abuse of the features, and we reserve the right to retroactively apply the full 1% margin to currency exchanges where there is a reasonable suspicion of abuse. Today’s release moves Multi-Currency Support at PokerStars into the Release Candidate stage. This means that the multi-currency offering is feature-complete, but there is a chance that some bugs remain. We may also make a few small tweaks before the official release, which we expect to be in late February. Here’s a summary of the new software features: Seamless Conversion: This feature is designed to simplify the multi-currency system for those of you who don’t want manual control over each currency conversion. If you choose to use this feature, every time a conversion is required, it will be done automatically in the background, without any extra pop-ups or notifications. You can activate this feature by going to ‘Options’ > ‘Multi-Currency Options...’ and checking the box marked ‘Convert currencies automatically, without confirmation’. Keep Funds in a Single Currency: This feature was actually introduced in December’s client release, and is aimed at those of you who want to keep all of your money in a single currency, but still play the multi-currency games. If you choose to use this feature, every time you leave a ring game, win a prize in a tournament, or unregister from a tournament, the money will be credited to your preferred currency, and automatically converted if necessary. For example, if your preferred currency is US Dollars, but you win money in a Euro tournament, the prize will automatically converted to US Dollars and credited to your US Dollar account (instead of being credited in Euro, which is the default behaviour). You can activate this feature by going to ‘Options’ > ‘Multi-Currency Options...’ and checking the box marked ‘Credit Funds in My Preferred Currency When Leaving a Game’. Support for Accounts in British Pounds and Canadian Dollars: It will be possible to keep money in any combination of four currencies: US Dollars ($, USD), Euro (€, EUR), British Pounds (£, GBP) or Canadian Dollars (C$, CAD). Note that we do not intend to offer games in GBP or CAD at this stage, and will make the decision later based on what we learn from offering Euro games. You can find further information about the multi-currency features on our web site, here: http://www.pokerstars.com/real-money/multi-currency/ . Let me know if you have any questions or feedback. Best Regards, Alex Scott PokerStars Poker Room Management Team

This is sick, the pounds getting strong again, this is a great move for me.

if this means fish from the united kingdom playing with GBP i'll guess i'll play those tables !

i still think splitting player pools is retarded

oh wow, no vig for currency conversions? SUHWEET

robinson I'm converting my br to GBP on stars now fwiw, no reason not to anymore.

It would suck having my br in another currncy rather than dollar and have it rise and fall on a daily basis depending on currency conversion rates. It's a nice change for the uk players.

On February 02 2010 07:36 mrspooh wrote: This is sick, the pounds getting strong again, this is a great move for me.

From what i ve read in the news last months UK's economy is very attached to USA's and dollar is also getting stronger.However some experts say there s a very good chance USA's economy will collapse again.I would stick to euro, but dunno time ll tell


BTW what happened with the euro tables PS said they ll open ? or are there any already i dont even have PS on my computer..

whats the point of converting to GPB? there are no GPB tables, the money would just sit there yes?

Oh sweet now you can have your roll in euro and play USD tables? Awesome !

Tom read what lach posted, you get to keep it whatever currency you like and still play all the games.

plus there is no vig every time you convert from currency to currency

I guess I don't need a euro BR anymore right?

On February 02 2010 10:54 TalentedTom wrote: whats the point of converting to GPB? there are no GPB tables, the money would just sit there yes?

If you spend money in GBP, you remove currency variance from your actual income. The EV is zero, but matching income and expenses is great for reducing risk.

Should I be converting my bankroll into GBP then?

i tried to convert some of my roll into GBP but it says there is a limit of $3000 per day. Im going to wait a week until i try it out to see if anyone has any issues while exchanging the currency.

this is so fking sweet

On February 02 2010 13:00 Robinson47 wrote: i tried to convert some of my roll into GBP but it says there is a limit of $3000 per day. Im going to wait a week until i try it out to see if anyone has any issues while exchanging the currency.

theres a really easy way to circumvent this. set gbp as your preferred currency. then go to multicurrency options, tick 'credit my acc in preferred currency' then just buy in with your whole bankroll over a table or bunch of tables and just leave the table(s) right after. i successfully converted 6 figs at a good vig-free rate doing this earlier when it was about 1.595 $/£

i can sense kets excitement in his posts

On February 02 2010 15:19 bane wrote: i can sense kets excitement in his posts

On February 02 2010 08:21 Ket wrote: robinson I'm converting my br to GBP on stars now fwiw, no reason not to anymore.

How do you do this? I tried exchanging dollars to euro's this week, but you can't convert more than 5k dollar weekly.

I just converted my dollars to euro's (like 700ish dollars) and I tried joining a random micro $ table. I couldn't join it and had to convert my euro to dollar first. You could check to change it automatically though.. hmm gonna retry, see if I get euro back when I leave the table.

Nope.. doesn't change back. So you still can't play $ tables when you just have euro's.

Changing doesn't cost anything though, but after each session you have to change your moneys back.

Twisted: Options > multi currency options. =)

Oh right lol, thanks :D

Ughh... my moneybookers acct is in USD, so now if I convert my roll to euro can i still withdraw to it and if I can will I get fucked over with the conversion rates ?

On February 02 2010 14:45 Ket wrote: Show nested quote + On February 02 2010 13:00 Robinson47 wrote: i tried to convert some of my roll into GBP but it says there is a limit of $3000 per day. Im going to wait a week until i try it out to see if anyone has any issues while exchanging the currency. theres a really easy way to circumvent this. set gbp as your preferred currency. then go to multicurrency options, tick 'credit my acc in preferred currency' then just buy in with your whole bankroll over a table or bunch of tables and just leave the table(s) right after. i successfully converted 6 figs at a good vig-free rate doing this earlier when it was about 1.595 $/£

ty, this worked just great

awesome

On February 02 2010 20:12 EvilSky wrote: Ughh... my moneybookers acct is in USD, so now if I convert my roll to euro can i still withdraw to it and if I can will I get fucked over with the conversion rates ?

Yes you will pay a shitload for the conversion. (at least I did when I had it in € and stars was $)

But It shouldn't be a problem to contact them and they will either change it or allow you to open a new account.

But with your account in € now...why don't you go for the bank transfer? There is no fee.

On February 03 2010 01:22 P1mpdaddy wrote: Show nested quote + On February 02 2010 20:12 EvilSky wrote: Ughh... my moneybookers acct is in USD, so now if I convert my roll to euro can i still withdraw to it and if I can will I get fucked over with the conversion rates ? Yes you will pay a shitload for the conversion. (at least I did when I had it in € and stars was $) But It shouldn't be a problem to contact them and they will either change it or allow you to open a new account. But with your account in € now...why don't you go for the bank transfer? There is no fee.

lol I didnt even know stars had that option, thanks man.

Will it be beneficial to have ur bankroll in EUR or GBP instead of USD if you're an american? I mean, will the USD continue to fall where over 6+ months it'll have made me some money or is it not worth it?

wow it feels like real money, some £ tables plz!

Dont know what u guys have

currently 1 € = 1,39 USD
6 month ago 1€ = 1,42 USD
2 years ago 1€ = 1,40 USD

Last 2 years dollar often fluctuated between 1,25 and 1,56 = 1€ but overall it has been pretty stable around 1,40 in the end
dont know how many times it was predicted that Dollar will go downhill all the way within the last 2 years .... nothing happend

On February 03 2010 15:32 PplusAD wrote: Dont know what u guys have currently 1 € = 1,39 USD 6 month ago 1€ = 1,42 USD 2 years ago 1€ = 1,40 USD Last 2 years dollar often fluctuated between 1,25 and 1,56 = 1€ but overall it has been pretty stable around 1,40 in the end dont know how many times it was predicted that Dollar will go downhill all the way within the last 2 years .... nothing happend

The current chinese threat to Obama to not meet with the Dalai Lama is kinda scary for the dollar since the stability depends on the chinese not selling their dollar reserve.

China has a history of being way more concerned about social control than economical prowess and they are not afraid of making blunt diplomatic decisions so better Obama leave alone the baldie in the yellow towel or it could provoke hot headed ppl.

On February 02 2010 19:15 Shad wrote: Twisted: Options > multi currency options. =)

This is great but : Are you exchanging back at the same rate when leaving the table then the one where you joined? (Like on Ipoker) Or are you exchanging with the current one?

On February 04 2010 07:20 P1mpdaddy wrote: Show nested quote + On February 02 2010 19:15 Shad wrote: Twisted: Options > multi currency options. =) This is great but : Are you exchanging back at the same rate when leaving the table then the one where you joined? (Like on Ipoker) Or are you exchanging with the current one?

Actually I think it performs the exchange again when you leave the table rather than offering the same rate as when you joined. I'm not sure though, it's probably in that 2+2 thread.