Low overheads you say? I wouldn't be surprised if Lock's payment processing runs them up to 15-20% on transactions to US players. Then add 36% rakeback + bonus + other promos into the equation for most of their players. Oh, and 12-15% to affiliates. I'm sure they're swimming in money.

i dont think spencer612 know what he was talking

online poker - cash cow... you might be stucked in the past around 2004-2006 and searching the way out of it, mate it is 2013 and things have changed

Noone knows what they do, but if they are able to hold cashouts for 1 month, think about all the intrest rates they got from the bank ... that would quite fuel their business

and giving that much out for players really isnt helping ...

I just keep thinking: if they would be in money problems, surely they'd already have cut down on the rakeback given, right? Or am i being too rational here, lol.

Yes, intrest on all that money (hundred thousands probably) would be quite some indeed.

I forgot about payment processing fees, aswell as affiliate money, though.. I agree something almost has to be wrong.

Mods need to ip trace this account. Will almost definitely trace back to lock somehow.

If FTP couldn't make money as big as they were there is no way lock can be doing anything but losing money right now, there is NO chance they have the money and every industry insider I've talked to agrees 100%

That's why FTP is running again, right? Because they can't make money

FTP going down had nothing to do with them "being able to make money" or not.

hes referring to processing payments to americans

I dont understand why it is so hard to figure out. Jesus, the casino rooms make money, even with paying the Rent, Lights, Dealers, Shift Boss, Tournement Director, cage etc. You really dont think online poker is a cash cow??? Do a little bit of math regarding the rake, hands per hour and how many tables are running 24\7. I understand Lock is not anywhere near Stars or FT... but they are making plenty of $$$. And FT made plenty of money, thats not why they went down(for a sec). Read Erick Lingrens story in CP this month... they were paying thier pros $250k a month!! CASH COW!!!!!!!!!!!!!!!!!!!!

You mean Jspencer612's account, not mine, right? I can be sarcastic at times, but it would be hilarious to be accused of being a lock shill.

My point to you was that many sites have not payed back players or straight up stolen from them, even though they had a cash cow. Some of it has been via mismanagement, some of it fraud, but either way it's the same result. Trusted sites have ended up not paying players, sites that we all thought had zero reason to stop the gravy train.

How do you not understand that?

yeah sorry, I quoted your post in reply to him

FWIW, I'll be at iGaming NA if any of you clown shoe wearing "industry insiders" are going to be showing your face and would like to engage in discourse about how it is possible to make money on the following transaction.

Player deposits $500 via [insert deposit method here], payment processor takes 25% of this (standard) and passes 375 along to lock poker.

Player sits down at blackjack table, plays $50 a hand and bets $1200 playing basic strategy, he goes broke.

How much did lock poker make? the answer is they lost 100$. They paid their processor $125 to put $500 on the site but only collected $24 in EV from their degen with a -2% roi. Stuff like this will absolutely bring a site to it's knees and is clearly happening now with the nightmare Lock seems to be having with payment processors. It's likely that they are having trouble getting them even at 25% now and those are probably stealing customer $$$ just like with FTP.

This ONLY factors in the overhead from the payment processor, we haven't even factored in all the other ways lock is hemorrhaging money trying to acquire customers and deposits to dig themselves out of what is likely a very deep hole.

Except the payment processor cost is ~10% not ~25% according to the interview i listened to at least.. I'm not related to the business at all so can only base myself on an interview of someone who did actually process payments.

Also, if Lock gets 450$ or 375$ according to your %, then their profit is obviously all of that if he goes broke, not sure how you're coming up with these numbers.

seems like i have no right to complain because i just wait 3 weeks for a neteller cashout oO

i am ok waiting max 2 weeks, but not 1 month. the 10-14 business days according to hp are a joke.

OK, your right - Online poker is dead - There is no money to be made!
Its unbelievable the rational and the thought process.
As far as tracing the Ip add - Trace away! I live in Las Vegas, I manage a call center... I am no way involved with Lock Poker.

I have been on 2 + 2 for a long time(I mostly just read and not post). I cannot believe some of the posts. For starters, there are soooo many haters on this site. Not just regarding Lock, but everything. I guess that's life though.

Yep it's funny, ever defend Lock in ANY case whatsoever, or ever cut them some slack for something bad that's happened, and you will likely be called a shill

Lol... Crazy!

I don't think many are saying that there is no money to be made, but if you've put yourself in a position where so much is going out the other end, it might not be that easy.

operating a casino is about EV not results, if they can't get the player to lose the net cost of acquisition and deposit in EV before they go broke then their margin is <0 even though their short term results would show a win. This is why a player who plays basic strat is worth far less than one who doubles down on 12

I get what you're trying to say, yet i still disagree. Each player is worth equally much for how much he deposits and plays for: the only difference is time: both players will lose, but one faster than the other.. then it all comes down to who deposits the most in the long run. You could assume the player who plays a bad strategy makes them more, but maybe not: maybe he'll give up faster and quit playing thinking he won't win anyway.

A casino makes a certain % on any (slots for example) game you play, the games where there's any skill involved, such as Black Jack, may give the player more bang for his buck, but in the long run he'll lose anyway.

Infact for poker, it's the world full of decent, breakeven players that would make them the most. The same might even apply to casino's, where if a player only steadily loses, he might actually play for a lot longer, and in the long run spend more.

thank you! I have much more to add regading the amount of rake even after rakeback, promotions , pros etc - but I honestly do not care enough to spend the time to type it.

I got mine today guys, 50 days later!

rofl. moneybookers? i wait now 23 days to neteller... ridicolous

Yeah, it was Skrill withdrawal!

Woooow, congrats lol, on day 46 here so hopefully soon then.

Money received to my Skrill account. Requested 01.December

Requested mine december 3rd, still not arrived. Yawn. Hopefully one of these days then..

Requested Skrill cashout December 29th.
Emailed support yesterday.
Response today was, it has been authorized and I should receive it "very soon".

What "very soon", in Lock speak means is what scares me.