An Ape and a Notebook goes to Vegas.... yes, I'm serious!

[jgcblack]

Just sent via bank, John.

Cheers.

Received, thanks.
In order to be fair I will lock the exchange rate at today's rate of 1.5025.

[FUN4FRASER]

Just sent via bank, John.

Cheers.

Received, thanks.
In order to be fair I will lock the exchange rate at today's rate of 1.5025.

Two things

Can you actually get 1.5025 ? Because advertised rates and actual are usually different

plus don't you want to wait till you have most of the money in ?

Obviously you don't want to be out of pocket so maybe check things out first ?

[jgcblack]

Just sent via bank, John.

Cheers.

Received, thanks.
In order to be fair I will lock the exchange rate at today's rate of 1.5025.

Two things

Can you actually get 1.5025 ? Because advertised rates and actual are usually different

plus don't you want to wait till you have most of the money in ?

Obviously you don't want to be out of pocket so maybe check things out first ?

Fair point.
I was thinking that for those paying me in ££, I'm going to be trying to get hold of the $$ in the next week or two...

What would you suggest? That I find one place/ person to get the $$ from then find out rate and then inform people of how much it is in ££?

[jgcblack]

E.g. Marky147 has sent me his 1% in ££ as per the rate yesterday.

But if I can't get that rate when buying then effectively I would be out of pocket on his 1%, correct?
And seeing as how I'm not charging a markup.... I can't be losing on it.

[jgcblack]

What's the etiquette when selling and then needing to change money's...?

[scotty77]

Go to a site like FairFX and buy your USD.  Then use the same rate that you get to work out the £££.

Could ask around anyone you know who has been to the US lately if they have any spare $$$ around for spot.

When making returns just use the rate that you can change them up at (obv don't just go into your nearest Post Office or change up at Gatwick arrivals).

The question is when to buy your USD.  Now or after the election?  Know anyone from work that has any insight in this?

[FUN4FRASER]

What's the etiquette when selling and then needing to change money's...?

My friend owns a post office in Sheffield and I've asked him to buy my dollars at 1.5 if /when it hits hence the reason I asked the question

If you had the funds now I d suggest buying and locking it in at that price as it's easy for  the maths  plus it's hard to believe the rate will go much higher however its pretty difficult to do anything without the £

As regards the election,  the general concensus is that if Labour get in then it will be the nut worst result for the $ exchange rate

[jgcblack]

What's the etiquette when selling and then needing to change money's...?

My friend owns a post office in Sheffield and I've asked him to buy my dollars at 1.5 if /when it hits hence the reason I asked the question

If you had the funds now I d suggest buying and locking it in at that price as it's easy for  the maths  plus it's hard to believe the rate will go much higher however its pretty difficult to do anything without the £

As regards the election,  the general concensus is that if Labour get in then it will be the nut worst result for the $ exchange rate

I'm planning on getting some $$ in the next couple of weeks. Heard a friend of a friend should have a few, however don't think I'll have enough capital to buy it all on peoples behalf then send an 'invoice'.

I know travelex give you a better rate if you book in advance.  I'm actually going to the airport on Monday so ill look over this weekend.

[Tal]

What's the etiquette when selling and then needing to change money's...?

My friend owns a post office in Sheffield and I've asked him to buy my dollars at 1.5 if /when it hits hence the reason I asked the question

If you had the funds now I d suggest buying and locking it in at that price as it's easy for  the maths  plus it's hard to believe the rate will go much higher however its pretty difficult to do anything without the £

As regards the election,  the general concensus is that if Labour get in then it will be the nut worst result for the $ exchange rate

So the plan is buy now, hope Labour win the election, win all the pokers, cash in on your return?

Or hold, Tories win the election, buy dollars at a better rate, win even more pokers, don't care about exchange rates?

Good luck, Mr B. Will be following your updates with interest.

[tikay]

What's the etiquette when selling and then needing to change money's...?

My general rule is as follows, though I only sell once per year, for Vegas.

I sell at "spot", on the day the cash is sent to me.

I repay at "spot" on the day I send the players their returns.

It's swings & roundabouts, sometimes I lose a tad, sometimes I make a tad. In the context of selling on a poker community, it's just important that both parties are seen to be fair & sensible. I'm pretty sure that most of those who buy action see it that way. I've never had any queries or bad blood in the 8 or 9 years I've been doing that.

Alternatively, for those who take it a bit more seriously, the OP should clarify exactly what basis for currency exchange (buying & selling) is going to be used.

Good luck in Vegas.

[jgcblack]

What's the etiquette when selling and then needing to change money's...?

My friend owns a post office in Sheffield and I've asked him to buy my dollars at 1.5 if /when it hits hence the reason I asked the question

If you had the funds now I d suggest buying and locking it in at that price as it's easy for  the maths  plus it's hard to believe the rate will go much higher however its pretty difficult to do anything without the £

As regards the election,  the general concensus is that if Labour get in then it will be the nut worst result for the $ exchange rate

So the plan is buy now, hope Labour win the election, win all the pokers, cash in on your return?

Or hold, Tories win the election, buy dollars at a better rate, win even more pokers, don't care about exchange rates?

Good luck, Mr B. Will be following your updates with interest.

That's a more fun way to look at it... #electionsweats. My postal vote came through today so been looking at the paperwork and trying to figure out which way im feeling.


Thanks, really excited! I honestly think that if I can have a 'covers expenses' cash sessions and that I feel I've played my best in the tournaments... I'll be a happy chappy.  I know the tournaments will all come with big score opportunity so to have a decent run in one or two would be fantastic! And dare I imagine bringing home a little shiny thing..... well... that would be ...................... really darn amazing.

What's the etiquette when selling and then needing to change money's...?

My general rule is as follows, though I only sell once per year, for Vegas.

I sell at "spot", on the day the cash is sent to me.

I repay at "spot" on the day I send the players their returns.

It's swings & roundabouts, sometimes I lose a tad, sometimes I make a tad. In the context of selling on a poker community, it's just important that both parties are seen to be fair & sensible. I'm pretty sure that most of those who buy action see it that way. I've never had any queries or bad blood in the 8 or 9 years I've been doing that.

Alternatively, for those who take it a bit more seriously, the OP should clarify exactly what basis for currency exchange (buying & selling) is going to be used.

Good luck in Vegas.

Thanks for the advice, that seems like a pretty sensible idea. I am a little worried about if people send at rate x but then I can only buy at x+y.. then is it scummy for me to prove the rate I bought at and request the extra?
Similarly, if I bought at x-y, would it be expected I sent the remainder back???

[baldock92]

For the sake of a couple of quid I'm not too fussed for my 1% sweat. Let me the know the amount you need sending over and I'll do it, I don't want to grim you

[tikay]

John,

I don't want to be seen to interfering, I was just explaining how I do it. 

To be fair, I am a bit more laid back with these things, I only sell to friends, & we just do it for a bit of fun. My Team know the drill, it's swings & roundabouts, & there's never been a single problem. If we were going to niggle over the odd half per cent, we'd not be doing business together. It's just a case of being sensible & fair. Some years I get the wrong end of it, some years they do, but we are only talking (relatively) minute amounts.

[jgcblack]

John,

I don't want to be seen to interfering, I was just explaining how I do it. 

To be fair, I am a bit more laid back with these things, I only sell to friends, & we just do it for a bit of fun. My Team know the drill, it's swings & roundabouts, & there's never been a single problem. If we were going to niggle over the odd half per cent, we'd not be doing business together. It's just a case of being sensible & fair. Some years I get the wrong end of it, some years they do, but we are only talking (relatively) minute amounts.

Not interfering at all... experience and especially successful experience is most welcome.

Just seen it only makes £200 difference over the 10k so not as worrying as I thought.

Next question is trying to find places that will sell me more than a couple of thousand at one time.

[jgcblack]

Travelex is max £5000 @ 1.4739
Post office is max £2500 @ 1.4760
FairFX is max £7500 @ 1.4816

Those maximums are per day, all delivered to your door.