Quantcast
Currency exchange at casino in Vegas vs Canadian bank?? - Beyond.ca - Car Forums
Page 1 of 2 1 2 LastLast
Results 1 to 20 of 36

Thread: Currency exchange at casino in Vegas vs Canadian bank??

  1. #1
    Join Date
    Oct 2013
    Location
    Blackfalds aka north RD, AB
    My Ride
    Bikes.Car.Truck
    Posts
    1,207
    Rep Power
    16

    Default Currency exchange at casino in Vegas vs Canadian bank??

    I was told to take out Canadian here and take it down to Vegas when we go. There, exchange it into American at the casino clerk. They typically have a slightly better exchange rate compared to Canadian banks because you will just dump the money back into the casino anyway.

    You'd get a little bit more bang for your buck.

    Anyone try this before? I did a google search and there are some topics about it but I don't feel a general consensus.
    Looking around
    Wondering what became
    Of what I once knew

  2. #2
    Join Date
    Nov 2003
    Location
    Moo Town
    My Ride
    (0^oo^0)~
    Posts
    746
    Rep Power
    23

    Default

    Is it possible to call the casino to inquire about their exchange rate? (I'm sure you'll be going to more than one)

    I don't gamble so I don't have a fuckin' clue haha.

    Subbed for replies.

  3. #3
    Join Date
    Sep 2004
    Location
    Calgary
    Posts
    10,406
    Rep Power
    35

    Default

    Same old story, unless you're exchanging many thousands of dollars the difference probably isn't even going to be worth the trouble. Even a half penny worse on $10K is only $50.

    Call the casino and ask what their rate is, then compare it to the bank if you're going to be spending huge dollars down there.

    Better to be comfortable with an exchange rate here than take a risk down there when they got you by the balls IMHO, but that's just me.

  4. #4
    Join Date
    May 2014
    Location
    Calgary
    My Ride
    Pt Cruiser
    Posts
    1,423
    Rep Power
    46

    Default

    No

    Don’t do that

  5. #5
    Join Date
    Apr 2004
    Posts
    400
    Rep Power
    20

    Default

    Quote Originally Posted by BavarianBeast View Post
    This quote is hidden because you are ignoring this member. Show Quote
    No

    Don’t do that
    Agreed here. Your best bet is to either Calforex or with someone who will give you mid xe.com rates. You can also use bank investment funds transfer i.e. RBC direct investing, etc. Some banks like CIBC will match Calforex or other places if you do it electronically and contact their currency traders.

  6. #6
    Join Date
    Mar 2004
    Location
    Calgary
    My Ride
    Eclipse
    Posts
    1,657
    Rep Power
    22

    Default

    Not true.

    The exchange rates at the casinos (ATMS) are bad and they charge like a $5+ Fee (USD) you are much better off bringing money in USD.

    Or get a muchbetter.com prepaid mastercard and to convert to USD its 1.9% which is prob the best rate you will find.

    I can ask my buddy whos there, he should be coming back soon and if he needs CAD (His been there a few months)

    You guys can both win on exchange rates if he needs CAD instead.
    Originally posted by beemerm3
    so if we only seen 5 % of the oceans why not drain them or somethin lol or can u even transfer water from one ocean to another??? think of all the stuff u'd find treasures n eerything.

  7. #7
    Join Date
    Jul 2006
    Location
    Victoria Park
    My Ride
    '16 FoRS, '09 UZN215, '90 Z32, '15 Grom
    Posts
    4,132
    Rep Power
    64

    Default

    Don't exchange money at the casino; I'm pretty sure the rates were way worse than anything you'd get at Calforex.

    Think about it this way; the casino offers you a service at your convenience. Do you really think it's going to be good?

  8. #8
    Join Date
    Sep 2018
    Location
    Edmonton, Alberta
    Posts
    535
    Rep Power
    15

    Default

    Quote Originally Posted by Disoblige View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Think about it this way; the casino offers you a service at your convenience. Do you really think it's going to be good?
    Definitely don't exchange money there if you don't have to. But the answer to the above is YES in most cases. They give you conveniences and benefits for the purpose separating stupid people from their money. Don't be stupid, and you shouldn't get separated. And if you're going to go and gamble frivolously, you're going to get separated from your money regardless, so you're better off to take any benefits the casino will give you.

    Casinos offer services and benefits to make it easy for you to visit or stay. If you visit or stay it is likely you will gamble. If you gamble than it is just a simple algorithm that on average you'll lose X percentage of whatever you put on the tables, and therefore they can calculate a number to give you in benefits that is below what they expect you to lose. Some of the advantage players I know actually treat their comps like an advantage play in itself.

  9. #9
    Join Date
    Apr 2004
    Location
    Calgary
    Posts
    2,093
    Rep Power
    43

    Default

    Quote Originally Posted by Kobe View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Not true.

    The exchange rates at the casinos (ATMS) are bad and they charge like a $5+ Fee (USD) you are much better off bringing money in USD.

    Or get a muchbetter.com prepaid mastercard and to convert to USD its 1.9% which is prob the best rate you will find.

    I can ask my buddy whos there, he should be coming back soon and if he needs CAD (His been there a few months)

    You guys can both win on exchange rates if he needs CAD instead.
    he is not taking ATM - apparently the trick is to do it with the clerks.

    Quote Originally Posted by Disoblige View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Don't exchange money at the casino; I'm pretty sure the rates were way worse than anything you'd get at Calforex.

    Think about it this way; the casino offers you a service at your convenience. Do you really think it's going to be good?
    yes it could be good because they are assuming you're going to gamble it their casino anyways. Basically like a 0.5% discount on your gambling if true.

  10. #10
    Join Date
    Dec 2006
    Location
    Calgary
    My Ride
    Lease
    Posts
    3,240
    Rep Power
    42

    Default

    I concur with the Poker King here... Jan, 2019 Vegas experience, the casino ATM charge quite a bit of service fees, along with your bank out of branch charges. And if you're poor like me where you set your daily withdraw limit to $500 Cdn. By the time you do exchange rates, I couldn't even get $400 USD out a one of the days. (not sure why, yes, maybe would had worked for $380 USD. But just settled for $300 usd)

    Sometimes if you must need cash from ATM, while in Cgy, imo, if you're going to incur service fees, I always might as well get the max I could for the same service charge. As you can also deposit the money back into your account

    Quote Originally Posted by Kobe View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Not true.

    The exchange rates at the casinos (ATMS) are bad and they charge like a $5+ Fee (USD) you are much better off bringing money in USD.

    Or get a muchbetter.com prepaid mastercard and to convert to USD its 1.9% which is prob the best rate you will find.

    I can ask my buddy whos there, he should be coming back soon and if he needs CAD (His been there a few months)

    You guys can both win on exchange rates if he needs CAD instead.

  11. #11
    Join Date
    Oct 2013
    Location
    Blackfalds aka north RD, AB
    My Ride
    Bikes.Car.Truck
    Posts
    1,207
    Rep Power
    16

    Default

    Quote Originally Posted by sabad66 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    he is not taking ATM - apparently the trick is to do it with the clerks.



    yes it could be good because they are assuming you're going to gamble it their casino anyways. Basically like a 0.5% discount on your gambling if true.
    Yes, I was specifically told to go to the 'cage' - the person with the money where you cash your chips in. Not the ATM. I have already looked at the RBC website and found the ATM's where you pay no fee's. So that's the best I can do on that front. My original plan was to pull out USD here and then go down there. Now I'm thinking of trying this method instead. I was told that the rate is significantly better, especially Downtown - like 8 to 12 cents better than normal exchange rate.
    Looking around
    Wondering what became
    Of what I once knew

  12. #12
    Join Date
    Jan 2019
    Location
    The Big Char.
    My Ride
    *The First*
    Posts
    4,134
    Rep Power
    100

    Default

    Off topic but many years ago the reverse trick was to cash $US in at BC Liquor Stores on the coast because they wanted to encourage American tourist spending. They offered A WAY better rate than banks and a dumb clerk would let you buy a six pack with like $200 US and give you Canadian change at the favorable rate.
    If you worked at a store that took $US you could "buy" all that cash out of the till at closing with whatever their exchange rate was and then go upsell it at the liquor store.
    You smart. You loyal.

  13. #13
    Join Date
    Jul 2006
    Location
    Victoria Park
    My Ride
    '16 FoRS, '09 UZN215, '90 Z32, '15 Grom
    Posts
    4,132
    Rep Power
    64

    Default

    Quote Originally Posted by 16hypen3sp View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Yes, I was specifically told to go to the 'cage' - the person with the money where you cash your chips in. Not the ATM. I have already looked at the RBC website and found the ATM's where you pay no fee's. So that's the best I can do on that front. My original plan was to pull out USD here and then go down there. Now I'm thinking of trying this method instead. I was told that the rate is significantly better, especially Downtown - like 8 to 12 cents better than normal exchange rate.
    Try it and let us know. I'm curious now.
    And also let us know about the 3-some obviously.

  14. #14
    Join Date
    Mar 2006
    Location
    Calgary
    My Ride
    Cayenne S, 335i Cab
    Posts
    800
    Rep Power
    21

    Default

    I did this ~10+ years ago, exchanging USD with CAD at the Mirage Casino cage (not ATM/machine). I remember being very surprised that the rates were pretty comparable to what I got at the Canadian banks before the trip, but it was also <$1K so maybe I just didn't pay that much attention.

    Only done this once though as I prefer to set myself a limit on the amount of cash I should gamble per trip.

  15. #15
    Join Date
    May 2002
    Location
    Calgary
    My Ride
    Hybrid
    Posts
    1,147
    Rep Power
    28

    Default

    Quote Originally Posted by 16hypen3sp View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I was told that the rate is significantly better, especially Downtown - like 8 to 12 cents better than normal exchange rate.
    I could see 2-3 cents (ie. trade at spot rate), but couldn't imagine them giving away free money like $0.08-$0.12. Definitely give it a try and report back.

    You could exchange some locally (Canex Forex has good rates and a 50% buyback program) as a hedge and bring some CAD down as well...
    Originally posted by max_boost
    Hey baller, any problem money can solve is no problem at all. Don't sweat it.

  16. #16
    Join Date
    Oct 2013
    Location
    Blackfalds aka north RD, AB
    My Ride
    Bikes.Car.Truck
    Posts
    1,207
    Rep Power
    16

    Default

    Did a little more reading about this, seems this used to be the norm back in the day when CAD was worth 60 some odd cents. I don't think it's really applicable now. I'll take out the majority of my USD out here at my bank before we go, but I will definitely ask around about this at the various casino's when I'm there.
    Looking around
    Wondering what became
    Of what I once knew

  17. #17
    Join Date
    Mar 2004
    Location
    Calgary
    My Ride
    Eclipse
    Posts
    1,657
    Rep Power
    22

    Default

    Quote Originally Posted by 16hypen3sp View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Did a little more reading about this, seems this used to be the norm back in the day when CAD was worth 60 some odd cents. I don't think it's really applicable now. I'll take out the majority of my USD out here at my bank before we go, but I will definitely ask around about this at the various casino's when I'm there.
    Sorry misread, if you need USD during/right after WSOP (May 28th - July 16th) (Mostly June 15th - July 15th)

    There will be a lot of people selling USD for CAD (EMT or cash) and will most likely trade at XE rates..Can get you in contact with people for sure.

    If not then yah calforex is your best bet, it will be better then wire transfer to the cage.

    Unless you got a USD bank account here then minimal fees to wire. (That's how all the highrollers do it)
    Originally posted by beemerm3
    so if we only seen 5 % of the oceans why not drain them or somethin lol or can u even transfer water from one ocean to another??? think of all the stuff u'd find treasures n eerything.

  18. #18
    Join Date
    Jul 2006
    Location
    Victoria Park
    My Ride
    '16 FoRS, '09 UZN215, '90 Z32, '15 Grom
    Posts
    4,132
    Rep Power
    64

    Default

    Quote Originally Posted by 16hypen3sp View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Did a little more reading about this, seems this used to be the norm back in the day when CAD was worth 60 some odd cents. I don't think it's really applicable now. I'll take out the majority of my USD out here at my bank before we go, but I will definitely ask around about this at the various casino's when I'm there.
    Compare your bank rate vs. Calforex rate. Might save you a dinner.

  19. #19
    Join Date
    Dec 2005
    Location
    not calgary
    My Ride
    changes every year
    Posts
    5,369
    Rep Power
    45

    Default

    Bumping this. Going to Vegas in May, did you ever try this @16hypen3sp ? I'll probably just go to calforex but im interested to hear if there's another way.

  20. #20
    Join Date
    Jan 2008
    Location
    Upstairs
    My Ride
    Natural Gas.
    Posts
    13,330
    Rep Power
    100

    Default

    If the exchange rate is a key component of your gambling budget, then I think you are focusing on the wrong thing.

    Calforex almost always beats the banks. That's good enough for me.

Page 1 of 2 1 2 LastLast

Similar Threads

  1. North Korea begins Currency Exchange to wipe out peoples savings..

    By CUG in forum Society / Law / Current Events / Politics
    Replies: 33
    Latest Threads: 12-09-2009, 10:45 AM
  2. Best way/place to exchange Currency

    By Speed_69 in forum Real Estate / Finance
    Replies: 19
    Latest Threads: 08-14-2009, 01:03 AM
  3. currency exchange

    By sallinger in forum Real Estate / Finance
    Replies: 7
    Latest Threads: 01-07-2009, 11:37 PM
  4. Currency Exchange

    By foos_guy in forum Travel and Vacation
    Replies: 9
    Latest Threads: 04-30-2008, 10:55 AM
  5. Currency exchange places

    By Shaolin in forum General
    Replies: 6
    Latest Threads: 01-05-2005, 09:48 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •