Exchange Rates
The Gamanaza PEP, support multiple currencies, but in order to standardize the economy of the system, reporting, segmentation, etc, we perform a conversion based on the Base Currency defined in your PEP instance.
Once you define the base currency this cannot be changed!
In the API docs you can see that all the events that requires a monetary amounts the system requires you to send the exchange rate expressed in the base currency, behind scenes PEP use the exchange rate to convert the transaction amount to the base currency to perform internal aggregation operations and be used as a fallback in the default contribution rules for Gamification and Loyalty.
How to Read a Currency Pair
It’s important to understand how to read a currency pair. In the ordering of a currency pair, the currency listed on the left is the currency of the player in the transaction. It always represents one unit of the currency. The currency on the right is the currency used as base currency.
Take the CHF/EUR currency pair. CHF is the currency of the player in any transaction that requires monetary amounts, EUR is the base currency defined in the system. The exchange rate represents how much of the second currency, EUR, is needed in the transaction unit of the first (CHF).
How to Calculate an Exchange Rate for Gamanza Monetary Transactions
If the CHF/EUR currency pair is 0.93147, that means it costs 0.93147 Swiss Franc to obtain 1 Euro.
Conversely, to find out how much it costs to buy one EUR using CHF, use the following formula:
1 / exchange rate
1 / 0.93147 = 1,07357188101
Using the values of the previous example if the player with a currency in CHF place a bet, the amount should be expressed
always in the player currency let say 25 CHF in the transaction the exchange rate value expected should be 1,07357188101.
Behind scene PEP uses the rate value to convert the 25 CHF into EUR by multiplying 25 * 1,07357188101 which is 26,8392970252 EUR
On the other hand if a player with a currency in EUR place a bet in EUR (the system base currency), the exchange rate
should be defined as a constant value of 1 no conversion needed.
Gamanza PEP Exchange Rate Service
If you don't want to deal with exchange rates the Gamanza PEP support sync exchange rates with external API providers, so please feel free to approach to your CSM representative and ask about the exchange rate service.
If you use our exchange rate service you can send always the exchange rate as a constant value of 1, and we
compute the conversions for your.
The exchange rates service has some limitations:
- The exchange rate is synced every 12 hours.
- You need to ask to enable this feature to your CSM representative, or place a ticket in our support website.