A lot of my funds are in USD, and I'm sure a lot of yours are too. What the hell can we do about this situation? I'm losing my ass here.
BAUS
BAUS
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Get out of it, I think it's likely to get worse before it gets better. Matchbook is my only active USD account now, and I email them every 3 days or so requesting they introduce others.
USD to the £ is now 2.1. It was 2 a couple of weeks ago, and 1.5 back when I started online..Comment -
I've been thinking about the same thing, especially over the last 24 hours with yesterday's 2 cent hike...I'm going to ride it out a little longer in the hopes that the market stabilizes, but there is probably no greater gamble than that. It's a pain to switch currencies, if the book in question even allows such a move, but the short term penalty (fees and such) might long outdistance the longterm pain if this soaring dollar continues.
For what it's worth, the US dollar is rebounding nicely this morning, but of course it's basically pointless to take a day by day approach. Personally, I'll see how things stand on January 01, then make a decision then whether to just suck it up and go Canadian from there on in.Comment -
Rebounded nicely? It's down 1.8% vs the £ and Euro today. Maybe the C$ is just down I guess.Comment -
Originally posted by Santo
It is.....I should have clarified. I'm speaking (writing) purely from a Canadian point of view, as per the thread title.Comment -
The only reason I still have US funds is because of Wsex and Matchbook.
We should come up with a petition asking Matchbook/Wsex to introduce Euros (at least).
I do think that the discrepancy between the USD and the Canadian dollar will not last for a long time. It's a only a question of time until the Canadian (export driven) economy really takes a beating due to this currency difference.
On the other hand, I also think the US will go into recession, shortly followed by the Canadian economy.
I am betting on gold and swiss franks (as a hedge to my US funds)...
PedroComment -
Don't even bother... The Amero will take care of things here soon... Be paitient...
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The thing is that I know matchbook have a UK Pounds Sterling bank account, which they accept sterling deposits into, so there is no reason at all not to accept sterling accounts -- they have no risk, just keep that users funds in their sterling bank account.Comment -
Everyone should invest in gold if they are really worried about the dollar. Its simple economics.Originally posted by PedroComment -
These books are likely making a killing on the falling dollar because I would think they put it in other currencies... If I knew the dollar was going to fall like this 5 years ago then I am sure they did too... It was no big secret and this is not only NOT a surprise but I can't believe it's taking so long...
Rollins is alos right about Gold or Silver which is the poor man's gold...
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I'm one of the fortunate Canadians i guess in the sense that almost all of my accounts are in canadian except for the ones that only allowed $USD at signup. So the CDN dollar fluctuating like this hasn't hurt me near as much as others. However if i was in your situation i still think i'd ride out my accounts in $USD as i do believe things will even out in the next little while. The one pain i do have with having Canadian accounts is when you max bet, your max bet changes every day based on that days exchange rate. So for example. At the Greek if i want to bet a 2nd Half NBA moneyline, when the max is $500 USD, for me it will be a strange number such as $451.72. And as i said, changes every day. So now to keep things simple i just make it $400 so as to not get the bet rejected. Minor inconvienance but one to be aware of if you do change to Cdn dollars.Comment -
I've got no solution to offer.
Different "experts" offer different advice. Much like people who post their sports picks, the ones who were right say, "Ha! You should have listened to me." The ones that were wrong quietly disappear.
One guy was scolding me for not following his advice to "hedge in FX markets." If you have any idea what that means, maybe it's something you want to consider.
I have been getting clobbered. My entire bankroll is in USD.
Apart from the conversion rate, there is the additional problem of, in these non-Neteller days, I receive more payouts by cheque. When I deposit those US cheques, my bank wants to put them on hold for three weeks. That costs more money. I have worked things out with my bank so they will at least let anything up to 5K clear immediately. I can do some strategizing around that but it is still a hassle.
You asked what I'm doing and the answer is, I'm just carrying on as best I can and hopefully working harder so that I will make so much money it won't matter. Easier said than done but that is the best mindset I can come up with.Comment -
What am I as a Canadian about this horribly high CAD.. buying low US dollars and running to the states to do some cross border shopping
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I'm setup the same as Cobra, if a book offers accounts in $CAD I open it in $CAD.
I opened most of these accounts back when the Canadian Dollar was valued below the US Dollar, I hated getting beat on the spread of the buy/sell exchange game and other "fee" for converting money using my **** card.
The only place I have a $USD account is WSEX/Matchbook, as they only use the $USD.
Mudcat, you have the answer, win so much that the exchange will be an afterthought.Comment -
But Canbet and other books offer to sign up in your currency of Origin, they only require that your usage of the casino or poker room be in USD so it converts.. so even when the USD gets back above the CAD.. It's still benifitial to have my acct in CAD for transferring purposes "
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my main acct is at bet365 i called and they changed my acct to can$$ with no probsComment -
The situation makes me queasy.
Some sportsbooks only use USD. My Moneybookers is in USD. I originally set it up as Canadian by mistake so I had to ask them to change it at the beginning. I'm 99% sure I remember them saying, "Okay, but we can only do that once."
As I say, it makes me queasy.
Do I want to switch to Canadian wherever I am able? I don't know. Apart from concern that the day I go to that effort and expense, that will be the day the currency bounces and those Canadian accounts will start losing (instead of gaining if I had left them alone), just the idea of having mixed accounts makes me queasy.
It would just be something else to remember. I can easily see myself getting busy and doing a scalp or an arb between books with different currencies but forgetting to convert. (Of course that could just as easily end up working in my favor as against but I'm just sayin'.)
Queasy.Comment -
Canada is an awful Country periodComment -
Well, compared to Newark, it certainly is.Originally posted by jjgold
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My entire on line roll is in US$. As we speak I'm busy purchasing US$. I have a us$ bank account and I know this is only short term. The Bank of Canada will have to drop interest rates at least 1/2 to 3/4 to prevent a complete meltdown on the canadian economy due to the soaring loonie.
I originally had a cnd$ neteller and was raped going to poker sites and back and to sportsbooks since almost all of them were us$ based. I switched everything (including the cnd$ based accounts) to us about 2 years ago. I won't switch back since the us$ will still be the standard next year or so. It is a pain for canadians but I'm willing to ride it out. Yesterday $200 cnd got me $216 American. Congrats to cobra and others who used the Canadian Peso and are now way ahead.Comment -
pinny, greek, cris, wsex all take muti currencies. i think around may this year, i coverted all my accounts to euro. because pinny is my main account, right now i only use accounts that 1) accepts euro and 2) do free book to book with pinny.
i wish matchbook will accept euro, right now that is the only reason i am not using it because currency conversion is too much hassle for me.Comment -
Pico, are you sure WSEX allows Canadian dollar accounts?Comment -
its a beautiful country but i wouldnt want to live there. us is much betterOriginally posted by jjgoldComment -
Doesn't look like it. From their regs:Originally posted by betplom
All wagers and monetary transactions are conducted in US dollars at our server in Antigua.
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I feel the exact same way about the US, just wouldn't want to live there.Originally posted by mark wahlbergComment -
Maybe I will buy some gold.
BAUSComment -
Any reasoning behnd this coach?Originally posted by jjgoldComment -
Originally posted by BAUS
Maybe we should all get some picks and gold panning kits and go a-prospectin' out Yukon way.Comment -
I think we need is a good geologist and some indonesian land. I'm sure we could find gold there.Originally posted by Mudcat
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Or we could break into funeral homes and steal gold teeth from the dead.
All you really need is a little creativity.Comment -
Or Neteller could re-open their doors to Canadians and safe sportsbooks could give out 20% unlimited bonuses. Same thing.
BAUSComment -
I keep hoping for some joyous news from Neteller about a return to Canada. It seems possible, theoretically at least.
As for bonuses ever returning to their former glory, I don't see that happening unless somehow the amount of Americans playing off-shore can return to its former numbers.
I believe the thing to say here is: VOTE RON PAUL !!! (???)Comment -
Wouldn't this be a great time to have money in US currency?
There is a limiting factor on how low it can go.Comment -
Ron Paul ain't gonna do sh*t!!! He is there to give the illusion that we have someone in our corner and he has a shot to get in and make a differance... Whatever!!!
If the whole F*CKIN' country voted for him he still would lose... The vast majority voted for Kerry and not only did he lose but he laid down half way through it...
What a joke this all is... How the f*ck can my boy GW barrrrrrrrrrrrely win the first time then four years later where even in this goofy a*s republican state his popularity plunges and I knew COUNTLESS Bush supporters voting for Kerry BUUUUUUUUUUUUUUUUUUUT somehow Bush wins ..
This time it was a BLOWOUT!!! .Kerry even laid down... To boot there have been stories the last three years about "diebold" and the rigging of the election, not that people didn't know the first one was fixed...
After alllllll this people still think they can vote someone in... How obvious does it have to be to smack you people in the face..???????????????????????
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Umm... no.Originally posted by operamanComment
