Author Topic: Hidden cost for play online  (Read 2922 times)

Jesper

  • Hero Member
  • ******
  • Posts: 1141
  • Thanked: 549 times
  • Gender: Male
Hidden cost for play online
« on: May 27, 2015, 09:43:52 AM »
If you live in a country using other currency than the casino, take care of the real bad exchange rates the Electronic purses use.
I can easy send Money free from my bankaccount to the purse, and it arrive instantly in SEK.

When I send to the casino, it is changed to Euro at a very bad exchange rate. The withdraws are changed back to a similar bad rate, and it cost a fee to get it to my bank account.

It is a very expensive way, and all near all costs are hidden.

So the best is to open an account  in  companies as Skrill or other in the right currency for example Euro, Sterling  or Dollars. Then send the correct currency changed in your bank to avoid the bad exchange rate twice.



 

BlueAngel

  • I always express my opinion
  • Hero Member
  • ******
  • Posts: 1539
  • Thanked: 214 times
  • Gender: Male
  • Do you want truth? You cannot handle the truth!
Re: Hidden cost for play online
« Reply #1 on: May 27, 2015, 04:31:13 PM »
I agree,when I was at Las Vegas,the casinos exchanged Euros for US Dollars in 1 on 1 ratio!!!
I've never experienced abroad such awful exchange rates.
Perhaps American banks would have better exchange rate but it would cost me the taxi back and forth from/to the bank,thus worst.
The hotel I was staying had an ATM but it was not compatible with my Skrill debit card,by the way I have Skrill VIP account since 2010.
There was another mart (mini market) nearby but the ATM there was also incompatible with my card.

 

Jesper

  • Hero Member
  • ******
  • Posts: 1141
  • Thanked: 549 times
  • Gender: Male
Re: Hidden cost for play online
« Reply #2 on: June 20, 2015, 10:54:38 AM »
I did a test, move a small amount like 5 Euro or 5 Dollars from Skrill to a casino. Play until i got 6 Euro or Dollars.  Did it a few times. My balance in SEK is decreasing, even if I won 20% of the bankroll.

It is no transaction fee, but exchange rates are so poor, you lose. So I Think we should find ways
reducing such costs.
 

helena

  • New
  • **
  • Posts: 5
Re: Hidden cost for play online
« Reply #3 on: September 10, 2015, 12:05:09 PM »
I've had some very bad experiences with Skill when they were Moneybookers, no way I would ever recommend them.
 

rotaman

  • New
  • **
  • Posts: 61
  • Thanked: 2 times
Re: Hidden cost for play online
« Reply #4 on: September 10, 2015, 01:16:34 PM »
Same here. I would never use them again.
 

Jake007

  • Veteran Member
  • ****
  • Posts: 360
  • Thanked: 246 times
  • "Topcats often start out as underdogs."
Re: Hidden cost for play online
« Reply #5 on: January 10, 2016, 11:26:01 PM »
Not sure what exchange rates are in your area, but you could always use a website like Coinbase and buy a little bitcoin. The fee is 1%. Be aware that the price of bitcoin fluctuates A LOT, however it was the best performing currency of 2015 (from $250 to $450).

There are online "casinos" that accept bitcoin and allow free play...

- bitcoinvideocasino dot com = no registration + free play
- cloudbet dot com = email registration + free play
- betchain dot com = email registration + free play (and advertised by roulette30)
 

Reyth

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 3329
  • Thanked: 985 times
Re: Hidden cost for play online
« Reply #6 on: January 11, 2016, 02:45:32 AM »
I finally was successful in using bitcoin and although I was concerned about fluctuation, I think the major concern is the exchange fee that must be paid when purchasing the bitcoin before transferring it to the casino because the time it takes to transfer after purchase is literally minutes.
« Last Edit: January 17, 2016, 03:38:52 PM by Reyth »