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Pokerstars intends to introduce a small margin on foreign currency deposits

Saturday 10/25/2014 : FOREX FURORE AT POKERSTARS
 
Poker forums light up as poker provider introduced charge on foreign currency transactions.
 
The announcement this week by Pokerstars that it intends to introduce a small margin on foreign currency deposits and withdrawals has triggered a slew of player opinions, many of them negative, on the online poker forums.
 
The company says it will charge the margin on all deposits and withdrawals where a financial transaction is conducted in a currency other than that in which the player's account is held.
 
It will impact players who have chosen to hold accounts in one currency, but fund them with another from their country of permanent residence.
 
Pokerstars PR chief Michael Josem defended the imposition of the margin on the twoplustwo forum, confirming that his company has switched from a policy of applying the midmarket XE.com exchange rate to a margin that is more in line with the market, and opining that Pokerstars' previous policy gave a rate lower to that which would normally be available from the banks or processors.
 
"The policy change does move us more in line with the market, but we´re very confident that the new rate applied to your selected currency is still going to be extremely competitive. In fact, we´d say that it´s better than that offered by most banks, card issuers and payment providers," Josem argued.
 
Players were immediately critical of Pokerstars for not specifying in their announcement exactly what the margin to be applied will be, with some calculating that it could be as high as 2.5 percent. Others complained that it would penalise players already smarting from a perceived reduction in the Pokerstars VIP Rewards program.
 
One as yet untested solution suggested by some players may be to create a multiple currency wallet in the PokerStars Cashier.



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Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

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PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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