Stars/FTP/UB/AP shut down for US players
- Thread starter Knowledge
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Just like cigarettes, the tax money they bring in is worth far more to the government then the actual wellbeing of the society.
It disgusts me how many people I regularly see at the same pokie machines at Burswood, and its obviously a lot worse in the Eastern states where the machines are more rife...
How many online poker companies are heavily linked with online casinos. Full Tilt and PokerStars are the only two that really arnt I would of thought.
FWIW I think PokerStars will survive with regulations in place in regards to deposit and withdrawal options amongst other things and the ones like PartyPoker who have casinos aswell as poker will be banned
Will online sports betting sites be banned as well?
A much grander scale investigation is taking place into this. Someone posted a thread about it on the Punting board but from what my mate told me its about 10 times the size of the investigation taking place into online casinos/poker rooms and with good reason id say
Pretty sure this isnt a option. They will ban the companies from operating in the country. Unless the poker and casino are owned and ran by two different companies its simply not going to be a option
By depsoit and withdrawal regulations for a site like Pokerstars I dont mean they are going to knock on there door and ask for a favor. They will merely ban Moneybookers etc from operating in this country thereby making it no longer a option for the companies to offer.
HyperAgressiveDonk
Cancelled
- Banned
- #84
I only ever keep about a third of my roll for a site, on the actual site. When Black Friday came along in the States, I withdrew just under 10k from Tilt and 9 k from Stars right away, and had no problems at all. Surely anyone who actually had sizeable amounts of money on these sites, would have had the sense to withdrawal it as soon as Black Friday hit.
As for the US players who can't get their funds, that's shocking. I know one of my friends on 2+2 had 50k + in their account and can't get access to it. Shocking state of affairs, but players should have never, ever, ever kept large amounts of money in poker sites. Only keep about 8 or 9 buy ins for the game you are playing and the rest of your roll in the bank.
Anyone care to actually ask where the money has gone?
JuddsABlue
Norm Smith Medallist
There are two answers to this question
The first is Full Tilt Poker had lots of trouble finding payment processors. If you arent aware, it is illegal for US banks etc to transfer money to online gambling sites. Each pokersite had various ways around this, some shady others clever. Full Tilt went through a period where they couldnt find anyway to process deposits, so when Joe Blow sitting at his computer deposited $200, Full Tilt had no way to collect the money. What were they to do? Make the player wait until they can collect the money from him, and run the risk of that player just giving up and not playing? It couldve taken weeks/months to find a way to collect the money
Instead Full Tilt credited his account with the money and figured theyd get the money when they found a possible way to do it. The problem was they didnt do it for a few $200 deposits, the total figure after the laundry came out of the machine was over $60mil. So essentially Full Tilt had shoved $60 million into his players accounts, but hadnt collected any of that money. Now all of these players have hit the withdrawl button, they havent event collected the money the players are asking to withdrawl.
Secondly, Full Tilt didnt segregate its players funds from its own money. This was a requirment for them to operate. They then spent a s**t load of money on a huge marketing campaign (this was one of the reasons stated), and its probably turned out to be more than they had. So theyve taken even more money from an already $60mil short account
Full Tilt was then trying to gain capital (through double guarantee and triple guarantee sundays and investors etc) to pay out players. They couldnt get enough captial before s**t really hit the fan and now they cant really do anything after losing their licence.
Yeah I withdrew everything except what I needed to grind 100NL (~3k) after BF, after Tilt shut down had about that much plus some transfers that are 'pending'. Assuming I get the money back, it mainly sucks due to lost income of having to set up on stars and grind back to a 100NL roll. Since most of my money is locked away in investments I am starting Stars with $500 at 25NL
At least I got my $100 reload bonus!!Also, stop trolling GD so much.
I meant Live betting as opposed to online betting which is what I thought he meant.
Have you seen who is actually going to be involved in the investigation? No doubt it will be allowed but its going to be so restricted it will be pathetic. H2H only with very very small max limits.
