Serious issue about money exchange rates

[FMecan]

FUNNY to be ignored in the private forum...........ok, then here:

Hello,

I sent you this answer a week ago through email, but never got an answer. This is in my eyes a really serious issue, so I hope it will be taken serious.

We are promoting Ladbrokes through IncomeAccess since few weeks. As we had some bad experience in this business, we always try to prove all stats and we do can do this because we have a very strong community with players who tell us when they sign up and give us an info about theri monthly balance, just to prove the stats.
On this case we have a not so small difference in the stats and after some detailed analysing there is a clear answer where the difference is coming from. The problem is a wrong UK pound to Euro exchange rate which only hurts us affiliates.

In this case, IA seems to use something about 1 Pund to something about 1,35 Euro what is totally wrong and this is how we affiliates lose money with this.

A Euro-using player signs up and lose 1000 Euro at Ladbrokes, but as IA accounts are in UK pound, we see with your exchange rate here 740 pounds and for example we get 25% of this lost, so it would be about 185 punds.
NOW we get paid on our moneybookers, neteller or what ever account, BUT of course with realistic exchange rate (moneybookers and other payment providers don't make us presents, what a surprise), which is about 1,15. The result is that at the end we get 212 Euro instead of 250 Euro.

This is absolutely NOT acceptable!!

[Betpartners]

Just so that i get this right

You get your stats etc in Euros but get paid in pounds

And the currency exchange rate being used is 1.35 euros to the pound?

If and i say If that is what is happening then i agree with you 100% when you say it is unacceptable.

In fact i would go much further.

I will be very interested in seeing an official response and explanation of why this is allowed to occur and how it will be corrected AND backdated.

There is no excuse at all for not using accurate exchange rates,

That said IA may well have a good explanation and i will not pre judge anyone until they have had a chance to explain, thus my use of the word "if"

[FMecan]

No, it was this way:

When we want to prove stats from a sportsbook or what ever, we make a newsletter to our community if anybody would like to share his stats with us (only give us info like "I made deposit X in this month and lost/win Y"), so we can compare it to our stats. sounds maybe sick, but we already had a bunch of problems in last years with stats.

in this case we are poor with ladbrokers customers, but had 2 or 3 guys over there playing. one of them sent me his win/loss from this month and also his deposit sum, so that we have 2 or 3 numbers to compare. as he is german, everything he gave me was in euro. all stats in incomeaccess are in ound and here is where problem begins with exchange rates.

this is absolutely serious for me and was also a reason why I took ladbrokes-income access banner of our livescore page.

[Income Access]

Hi FMecan,

Many thanks for your post.

Just to clarify, the Ladbrokes affiliate programme stats are in sterling. Commissions can be converted and we use the bank's conversion rates at the time of issuing payments.

From your description below, it sounds to me like you are talking about the conversion of the player's currency from euro to sterling at the time he/she placed their deposit and wagered.

Can you please send us more details so we can review the player's activity? Details including player ID and the deposit and wagering you are referring to would be a great help for us to look into this. Please forward the details to us via email to ladbrokesaffiliates @ incomeaccess.com

Many thanks.

Sarafina
Director of Affiliate Marketing
Income Access

[FMecan]

He's Ladbrokes account is in Euro so his losses are in Euro and we get the money at the end in Euro.......That you use the right exchange rate.

I sent you all details and what should be absolutely clear at this point is: my "contract" is with incomeaccess and NOT with ladbrokes, so please don't tell me something like "we get data in this way". This is 100% something that is between you and ladbrokes or any other of your programs. My job is to bring you players.

BTW I looked when he signed up.......no, the pound was lower than now, so it would also be more for us. so this can't be the reason.

[Betpartners]

FMecan is right

The pound has been hovering around 1 pound to 1.05 - 1.15 euros for quite a while now.

The last time it was 1.35 must be what 18 months ago

Just did a check and in the last 372 days the highest it ever got was 1.19 euros to the pound.

Bottom line is that 1.35 just has never been available in at least 1 year and probably much longer.

[FMecan]

Any news about this? Yout got my email on same day with all details, but nothings moves on.

[FMecan]

OMG..........I only get an update if I go public. I really can't believe this.

Sent everything again and again nothing happens, asked few days ago for an update.......also no info.........are you trying to wait if Greece maybe go broke so the sterling gets up?

[melaniej]

Hi Feda,<o></o>
<o></o>
Melanie here from Income Access. I’m one of the managers of our affiliate team. PM’ing you about this.
<o></o>
Kind Regards,
Mel
<o></o>
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[FMecan]

still nothing moved on. I get always a "we will contact you on day XXX" and nothing happens..................is this really the way IA works?

[melaniej]

Hi Feda,

Have sent you an email follow up.

Kind Regards,
Melanie
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[FMecan]

Result of this issue is............we got scamed.

There is some talk about using bank instead of exchange rate what is at all a bad joke. The point is that we will always get about 10-20% less money as we should and this is nothing else then cheating, scam or how ever you want to call it. how can anyone expect to promote a product of this affiliate program.

and again.............our contract is with IA, not with ladbrokes!

most disappointing experience for long time.

[melaniej]

Hi Feda,
<o></o>
Using bank rates instead of exchange rates is a standard international business procedure, as a general rule of thumb.
<o></o>
We receive all player data already converted into one currency from Ladbrokes, and this is a standard conversion process used by their company for financial transactions. The terms and the conditions for the Ladbrokes Sportsbook program state that the contract is between you, the affiliate, and Ladbrokes (section 1.1).
<o></o>
Many thanks,

Melanie<o></o><o></o><input id="gwProxy" type="hidden"><!--Session data--><input onclick="jsCall();" id="jsProxy" type="hidden">

[FMecan]

A conversion rate of 1.35 is still nothing else then raising profit for only one side.....and this kind of rates is not usual at any other bookmaker and we working with nearly 20 books that show up stats in british pounds, so it seems NOT to be a usual way of working.

[Louis - Income Access]

FMecan

I haven't been brought up to date on this issue, so I don't want to speak out of turn. However, just so you know, Income Access, as an intermediary, does not hold the player money, or pay the commissions, so the actual amount of commissions that are paid to affiliates does not increase or reduce the amount of money we make in any way. We can't make money off you by changing the conversion rates.

Our Income is made in 3 ways:

*Management fees (paid monthly by clients)
*Software fees (basic fees for the use of software / bandwidth)
*Incremental fees, based on the revenue generated by players referred

Income Access has every incentive that affiliates be happy with their commissions, because our success is entirely linked to the success of each affiliate program. Please understand that we work hard to resolve issues between our affiliates and our clients, but it is not always easy or quick.

I'm sure Melanie and Sarafina are doing everything in their power to resolve this for you.

[FMecan]

I think I've been misunderstood here. I would never say that you or anybode lie, BUT tryo to see if from my point of view:
I signed up with IA, so you are my conctact and not ladbrokes, because in any other case there is no reason to do it through IA, but my conclusion can't be good because the fact is that we don't get our commission.

There is NOTHING else negative I told about IA and there was never a reason to do it. Payments are quick and I still think that IA gave their best to get the information (I just hope it).