Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
If the money ps used to buy ft was their players funds. shortly efter ft came back and ps ended up folding because they get caught doing the same thing ft did. i know its unlikely but it is poker and weve all seen how bad downswings can be lol.
Joined: Apr '09
Location: Australia
Age: 40 (M)
Posts: 6483
Haha I don't see PS doing that, but it would be pretty crazy, the poker world would pretty much topple over in a way in which it would never stand up again.
Joined: May '08
Location: Germany
Age: 59 (M)
Posts: 6786
That would be the knock out punch for online poker. But Stars is making so much money, i doubt they have to use such dirty tricks to collect the money for the FT take over.
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
Posted by retribution: If the money ps used to buy ft was their players funds.
in a way it is- they use rake money to fund all their operations, so in the end we are "all at fault" that stars have so much cash to spend, and we can all think of ourselves as being part of the deal, even though a real a small one. your stars doom theory look funny though- great idea- you would be a good "businessman"
Joined: Apr '09
Location: Portugal
Age: 44 (M)
Posts: 4827
That money should have been saved in a non accessible place since Black Friday, so i don't think that would ever be possible. Since US Gov saw what was happening and started investigating, all the accesses to the individual accounts was blocked and, most probably, all that money was freezed and moved into a restrict account of the US Gov or any other main identity, like the Fed or something like that.
Joined: Apr '09
Location: Australia
Age: 40 (M)
Posts: 6483
Posted by xdomagojx: Stars have separate bank account for every player
That doesn't sound right - what is your source for that information?
It would be an accounting nightmare - considering how many people play on stars and how many new players there must be every day, that just doesn't sound right at all!
Joined: Jun '10
Location: Belgium
Age: 51 (M)
Posts: 1457
Just keep in mind that PS is just trying to make more money with FTP.
This is the main purpose with any company.
But this means that any company is tempted to make more money by not following rules (like not to put your customers and employees in first place)
In my opinion all multinationals are putting the profit in first place versus their employees
What mean is that they just close factories (where peapole have worker over 20 years for this company) without any scrupuless (just based on figures)
I experienced the closing of the Ford factory in Genk (last week) from nearby and ironically it was announced exactly 50 years after the factory was built. The multinationals have hidden agandas and policies
So PS will also have there reasons, but be sure ti will not be for the players itself.
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
By reading only the first sentence retribution, didnt manage to keep my self from laughing. Never would have thought of this.But it makes you wonder after all, doesnt it?
Find it hard having a separate bank account for each player
Joined: Feb '11
Location: United Kingdom
Age: 59 (M)
Posts: 5712
Of course the money used to buy out FullTilt was money belonging to players at some stage, and no doubt they have some kind of assurance or insurance to protect players money....dont they??? Well, lets wait and see but the amount of money ps has they shouldnt really fall into the same trap!
Joined: Jan '11
Location: United States
Age: 60 (M)
Posts: 3361
I wouldn't even have thought of something like that, but boy would that mess up the whole scenairio with them opening FT and PS falling at the same time. Actually the DOJ has probably already investigated PS and found nothing on them other then to stop letting U.S. citizens play real money games. So initially we (U.S. Players) were effected by "Black Friday" through PS because we still can't play real money on PS. Oh well, hopefully the DOJ will soon open their eyes. Idiots!
Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
Posted by Greenmohave: Actually the DOJ has probably already investigated PS and found nothing on them other then to stop letting U.S. citizens play real money games.
Oh yeah, that's totally part of the due dillegence, thus I am 100% certain this scenario would never happen, just based on the fact the DOJ would have been very thorough before allowing the purchase.
Also to the people asking about the seperate accounts, this refers to a seperate account where ALL players funds are held in escrow, not 1 account per person. Of course that would be a book-keeping nightmare. 1 of the requirements of getting an operating license, is that poker rooms hold player funds seperate from operational expenses, something FT didn't do, which is WHY this all happened.
Joined: Nov '11
Location: Poland
Age: 37 (M)
Posts: 1090
PokerStars has a lot of cash. And they come from rake. Look for a Sunday Million from October 28, 19:30 CET. There are 7169 entrants and each of them pay $15 rake. So PokerStars is over $107k from rakes! And this is one tourney!
Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
Posted by Mysik86: PokerStars has a lot of cash. And they come from rake. Look for a Sunday Million from October 28, 19:30 CET. There are 7169 entrants and each of them pay $15 rake. So PokerStars is over $107k from rakes! And this is one tourney!
Yeah, but what's the overlay on a tournament? Any tournies with guaranteed/added prize pools have to rake enough to at least cover the guaranteed/added pool, or obviously it's not a profitable tourney.
Joined: Nov '11
Location: Poland
Age: 37 (M)
Posts: 1090
Posted by retribution: Yeah, but what's the overlay on a tournament? Any tournies with guaranteed/added prize pools have to rake enough to at least cover the guaranteed/added pool, or obviously it's not a profitable tourney.
retribution - first check this tourney... Sunday Million has prizepool guarantee $1M. There was 7169 entrants. Each of them pay $200 for prizepool and $20 for rake.
Prizepool was 7169*200 - it's mean $1433800 and was higher than guarantee, so PokerStars add nothing to this pool! And rake over $107k was pure profit for PokerStars!
