Korean Job Discussion Forums

[warren pease]

Anyone else notice their local casinos offering significantly different rates from banks? Is that normal? I'm not really a casino aficionado. Two days ago I saw a rate of less than 1200:1 (W:$).

I'm assuming I can't just walk in with W10,000,000, convert it to $, roll into my bank, change it back to won, and collect W500,000 profit, but what exactly is the deal?

W10,000,000 / 1200 = $8,333.33

$8,333.33 x 1260 = W10,499,995.8

Wouldn't that be nice, though

[bixlerscott]

It would be nice if it were that easy to go laughing to the bank. You're probably seeing the rate to exchange dollars to won, because it's a casino only for foreigners such as at COEX. This is not a good rate, but is the cost of conveniently exchanging USD should you, the tourist, run out of Won. You can get a hair more Won per dollar like 20 to 30 when selling USD at a bank.

[warren pease]

I thought of that (I think). Well, I thought about it after I left last time and I am pretty sure the two listed rates were something like: 1180:1 and 1207:1

Anyone else been in Paradise Casino in Busan?

[ddeubel]

why does anyone have a problem with their rates? They are legit and valid.

However, not meant to be a means of exchanging money. Still, if you show you are playing a big game and actually play, no problem cashing out. Good luck if you think you can just get some chips and then cash out after spending a couple here and there

DD
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[wylies99]

[Scotianova]

Their Rate only applies if:

You use US dollars to buy chips (which are valued in won).... when you finish, you can give them your reciept from the exchange, as well as your chips, and they'll convert it back into US dollars at that rate.


you CANNOT: use won to buy chips and then convert it to american at that exchange rate....