Exchange rate and cashing out...

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Exchange rate and cashing out...

Postby Lo0o0o0n » Mon Apr 14, 2008 3:23 pm

Hey all!...

its me again with another post.....juz wanna know...coz now...USD is soo chui man...and im sure most of our poker accounts is in USD...so im sure this affects us in one way or another

so do any of u actually take into account the USD to SGD exchange rate when cashing out?...or do u find it too insignificant to affect ur decision?

if it is $1000....then cashing it out...like sometime in June 2007 would yield you about SGD$200 more as compared to cashing it out now...tts alot of money man......one fifth of ur winnings....

and now that USD is so low...are u more inclined to make deposits?...and holding it in ur poker account until it goes up?

seemingly all these US sub-prime crisis mess is taking a hit on all us small timers as well...haaa

oh well....hope to see ur thoughts and views on this too....hope not many of u find my posts too bo liao....but yes...i think about these kinda stuff alot...haaa and im supposed to be studying....crap...

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Re: Exchange rate and cashing out...

Postby asiangravy » Mon Apr 14, 2008 3:33 pm

Just keep making money so it wouldn't be too much of a problem. Take out only when you have a need for it
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Re: Exchange rate and cashing out...

Postby vaevictis » Mon Apr 14, 2008 6:14 pm

yea its sad but no choice. I just cashed out at an exchange rate of 1.3735 recently, pretty sad to see that rate as i remember the last time i cashed out at 1.5 i was already cursing at the weak dollar.

Nonetheless my poker bankroll has nothing to do with my personal finances and I only cash out when i need the cash to buy some baller stuff. This eliminates the need for me to make any future deposits (i've only made one deposit in my lifetime and would like it to remain this way).Ah bin is right, just keep winning so the value of money doesnt really matter. For those who are investment savvy, now might be a good time to do some US dollar arbitrage I guess.
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Re: Exchange rate and cashing out...

Postby ohboy » Mon Apr 14, 2008 6:21 pm

erm

just curious
what is this arbitrage opportunity?
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Re: Exchange rate and cashing out...

Postby Lo0o0o0n » Mon Apr 14, 2008 6:50 pm

ohboy wrote:erm

just curious
what is this arbitrage opportunity?


arbitrage is the term used in foreign exchange market when you take advantage of price differentials between different markets. Forex investors buy and sell currency at almost the same time to take advantage of this...

straight up from my International Economics textbook which I have an exam for tml...haaa

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Re: Exchange rate and cashing out...

Postby felixleong » Mon Apr 14, 2008 7:24 pm

10 years ago when I was a kid , USD was like 1.8!!!
Nowadays I see my monthly cheques from pokerstars I feel so sianzzzzz liao
1.37-1.38 nia, and will probably go down somemore.

Anyway like what you guys are saying, just grind more and win more $$ to make up for it ba ~ hahaha
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Re: Exchange rate and cashing out...

Postby vaevictis » Mon Apr 14, 2008 8:52 pm

Predicting US dollar falling further, the smart way is to cashout maximum to SGD.
Then redepositing when the US dollar drops further. (gain more USD dollar for your SGD money) Not a wise move cus there will be incurred transactional charges along the way, but u just gotta do the admin and maths to sort it out.
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Re: Exchange rate and cashing out...

Postby ayasak » Mon Apr 14, 2008 9:20 pm

haha...i dont have a BR thats significant enough for me to cash out anything! yeah! it doesnt affect me....(wtf...lol)

anyway, since you guys are talking about the exchange rate, did anyone moved over to the Euros/British Pounds sites?
( rake is higher too...)
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Re: Exchange rate and cashing out...

Postby DM101 » Mon Apr 14, 2008 11:36 pm

ayasak wrote:haha...i dont have a BR thats significant enough for me to cash out anything! yeah! it doesnt affect me....(wtf...lol)

anyway, since you guys are talking about the exchange rate, did anyone moved over to the Euros/British Pounds sites?
( rake is higher too...)


Please recommend us these euro/pound sites.
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Re: Exchange rate and cashing out...

Postby ohboy » Tue Apr 15, 2008 4:23 am

Lo0o0o0n wrote:
ohboy wrote:erm

just curious
what is this arbitrage opportunity?


arbitrage is the term used in foreign exchange market when you take advantage of price differentials between different markets. Forex investors buy and sell currency at almost the same time to take advantage of this...

straight up from my International Economics textbook which I have an exam for tml...haaa

Alex Loon



lol i know what arbitrage is. Was just wondering where the opportunity was. Arbitrage is not a gamble!
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Re: Exchange rate and cashing out...

Postby thejinn » Tue Apr 15, 2008 8:18 am

Weak USD means trip to Vegas is cheaper, at least in SGD terms :)
Ohboy, can sms me those details we were talking abt? Or mail me. Thanks.
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Re: Exchange rate and cashing out...

Postby ayasak » Tue Apr 15, 2008 10:42 am

DM101 wrote:
ayasak wrote:haha...i dont have a BR thats significant enough for me to cash out anything! yeah! it doesnt affect me....(wtf...lol)

anyway, since you guys are talking about the exchange rate, did anyone moved over to the Euros/British Pounds sites?
( rake is higher too...)


Please recommend us these euro/pound sites.



erm...never played on these sites before,so no recommendations.

here's a few sites i've looked at,

Boss Media network - Paradise Poker, Fortune Poker etc
Cryptologic network - William Hill, Sun Poker etc

seem to me that the traffic is kinda low on euros/pounds sites.
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Re: Exchange rate and cashing out...

Postby asiangravy » Wed Apr 16, 2008 7:07 pm

Or you could just migrate to the USA. Less hassle I reckon
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Re: Exchange rate and cashing out...

Postby twq86 » Sat May 10, 2008 8:43 pm

Hey guys how do you even buy in in the first place ? they keep rejecting my singapore credit cards.
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