Trip Report: Grand Yak casino in Cancun MX (profit by exchanging money there)
February 8th, 2012 at 3:09:59 PM
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I visited the Grand Yak Casino in the beginning of January in Cancun, and to my disappointment, the only game that they offered that I was familiar with was absolutely terrible. It was single odds, and worse, they charged a 1% "tax" on winnings that was calculated on how much you were cashing out less 70% of what you bought in for.
So if you bought 1000 pesos, and walked away with 2000 pesos, they would calculate your winnings at 1300 pesos, and charge a 1% tax on that.
There was also a game thats similiar to sic bo, but they spun their dice in a bird cage like contraption.
The good part about the casino was their buy and sell rate for US Dollars was equal at 12.5 pesos per dollar. While thats a terrible rate to sell dollars at, its an amazing rate to buy dollars at (the rate was 13.7 at the time).
It essentially allowed me to withdraw at 13.5 pesos / dollar at the ATM (after fees) footsteps from the cage, and buy dollars at 12.5 pesos / dollar from the cage, leaving a 7% profit in between.
I don't know what their rate is today, since the peso strengthened a bit (to 12.5), but this still may be possible.
So if you bought 1000 pesos, and walked away with 2000 pesos, they would calculate your winnings at 1300 pesos, and charge a 1% tax on that.
There was also a game thats similiar to sic bo, but they spun their dice in a bird cage like contraption.
The good part about the casino was their buy and sell rate for US Dollars was equal at 12.5 pesos per dollar. While thats a terrible rate to sell dollars at, its an amazing rate to buy dollars at (the rate was 13.7 at the time).
It essentially allowed me to withdraw at 13.5 pesos / dollar at the ATM (after fees) footsteps from the cage, and buy dollars at 12.5 pesos / dollar from the cage, leaving a 7% profit in between.
I don't know what their rate is today, since the peso strengthened a bit (to 12.5), but this still may be possible.
