RE: [vpFREE] Canada/US Dollar Exchange--How much (if any) of an advantage play??

 

Up until the late 1970's, it was possible to exchange Canadian $100 bills for par value at table games in most Reno casinos. When I first became aware of it, it cost $93 to buy a Canadian $100. But the exchange for par lasted even when the Canadian $100 had sunk to $85 US.

I would order $10K in Canadian for $8500, and have a $1500 head-start on my Reno trips. I was primarily a blackjack player at the time, but I realized it would be easier and faster to turn over more $100's by playing the Don't Pass line in craps, making $25 bets and taking full odds. I might get $4-500 on the layout before any bet was resolved. Once all the Canadian was converted, it was on to the BJ games.

When the exchange rate hit $83, casinos began to stop accepting Canadian at the table. The last time I arrived with $10K Canadian, summer of 1978 I think, it was challenging unloading all the Canadian at the one remaining place that accepted it at par.


There was at least one Las Vegas casino that accepted Canadian for par value at the tables, and it was the first place I saw it done. This was the small Holiday Inn casino on the strip. I was playing single-deck BJ there when someone joined the game and threw a Canadian $100 on the table. The dealer gave him $100 in chips, and I couldn't wait to get home and find out how much a Canadian $100 was worth.


--Dunbar

[Non-text portions of this message have been removed]

__._,_.___
Posted by: h_dunbar@hotmail.com
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (4)

.

__,_._,___

RE: [vpFREE] Canada/US Dollar Exchange--How much (if any) of an advantage play??

 

Actually, did some further research, you can do it up to 10 times per day--the first two cost 50 points each, the next eight, 100 points apiece. This happens three days a week, so i've heard, and it used to be offered for 20 points apiece, but that was before the latest 10-15 cent drop in our dollar relative to the US$.

Alas, it's a 45 minute drive from here, so most of us also use the trip to load up on gas for about $1.50 less per gallon than available here. There are other side benefits, like a nice leisurely drive, but smoking in this casino is not handled well for us non-smokers. Since this place has been such a grind joint for so many people for so long, it very unusual for there to be any positive play--of course when I find out about it, the regulars tended to over play it, and the casino modified (i.e., reduced the offer).


As for Las Vegas, you're right--but if I can play close to even on a cash basis, and get accommodation and food taken care of via comps, then it's a relatively cheap trip!





[Non-text portions of this message have been removed]

__._,_.___
Posted by: lasvegaspilgrim@gmail.com
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (3)

.

__,_._,___

RE: [vpFREE] Canada/US Dollar Exchange--How much (if any) of an advantage play??

 

If your average loss on the play is $15 (5% of $300) and you earn $28 for doing this, you have a small edge. There is variance. Some days you'll win and some you will lose.

Consider: can you do it more than once? If you can do this hundreds of times during the day, it's worth something. If you can only do it once, and you have to drive there (taking time and gas), it's not a big payday. If your entire edge is $10 or so --- and you have to drive more than a mile or two to get it --- why bother? If you can do it many times and your edge is in the hundreds or thousands of dollars, that makes a lot of sense.

Also, unless you plan to leave your money in US dollars (many players near the border keep bankrolls in both US dollars and Canadian dollars because exchanging and forth is expensive), you're going to have to convert it back to Canadian. There's a fee for doing this. You may know the best places in town to do the conversion --- but it's never traded at par.

There are indeed coupon opportunities in Vegas via the LVA coupon book and the from American Casino Guide and certain other places. But for someone who has to pay to fly to Vegas and pay to rent a car and pay to stay in a hotel room once he is here, it's probably not worth it to come to Vegas "just" for this.

Bob



[Non-text portions of this message have been removed]

__._,_.___
Posted by: Bob Dancer <bobdancervp@hotmail.com>
Reply via web post • Reply to sender • Reply to group • Start a New Topic • Messages in this topic (2)

.

__,_._,___
Subscribe to: Posts (Atom)