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When does Lock collapse? When does Lock collapse?

05-21-2013 , 12:39 PM
In all seriousness, some of us have been waiting what, 7 months for checks? 5 months for WU? For every 10 withdrawals or so that they end up paying out, there must be hundreds of withdrawal REQUESTS being made.

So clearly the ratio isn't getting better, and no "newer processors" could possibly handle those amount of built-up withdrawals even if Lock DID have the funds as they like to mislead. Some players will continue playing with their bankrolls, most will stop. Some potential new customers will deposit, most will not.

This isn't the U.S. Government where they can simply print new money or borrow some. So if these summer months come and go and we're still seeing less than 25 people paid out each month, what then? It's a serious question. At what point (other than Larson's discretion to stop), is Lock taken down/apart?

I know so many people here have tens of thousands of dollars on Lock they can't get off and therefore don't want Lock to be taken down, but at what point do we all collectively start non-stop calling our respective nations' agencies and put more and more collective pressure for action? There needs to be some point where we at least say, 'I'm not going to just sit by and watch speculation on 2+2 from Shane/Lock'. Whether or not it results in anything, I'd be more than willing to try something. I am simply just not going to sit here and continue to e-mail Lock Support for the next 3 months or listen to their "interview" bullcrap through Garbage911.

Otherwise couldn't Lock hypothetically do this endlessly no matter how small scale of a Ponzi Scheme they become? I'm really not looking for trolls to tell me how "it won't result in anything" or "all we can do is wait". I'm just wondering if there is evidence of previous similar cases with timelines on when to anticipate a collapse. If we're still posting about this stuff in August, then Lock is winning aren't they? Because they've still got their "stall" strategy working and they're still making money.

The June 1st promises sound the same as the March 1st promises from Shane. It's never-ending at this point. Everyone wants to get their money, but we have to have a limit to the amount of time we're willing to wait for a Ponzi Scheme if that's the case.

I do encourage humor, memes, and over/unders in this thread though.
05-21-2013 , 12:48 PM
They can go on like they are now indefinitely what is to stop them? Poker ponzis are unlike the run of the mill ones where govt agencies get involved.
05-21-2013 , 12:51 PM
Lock will collapse when people stop asking and heckling for their money and when all communication and advertisement is removed.

People have told me before that "we should stay on top of them and bug them for our money or else we wont receive anything." That is silly. You should not have to bug a company to get paid and believe that is the only way to get you money. I cant believe that people believe that.

All communication needs to go.
05-21-2013 , 01:35 PM
They'll collapse whenever the US govt passes a federal online poker bill or if enough states join the compact that the players quit Lock to play on a legit site where you can go to the casino or poker room and get your funds instantly. That may take a year or two but I think Lock could hang on another year if they keep paying the people that are playing there.

Anyone that has stopped playing Lock could easily not pay them. The player will have no recourse other than to badmouth them here but if someone that is still playing and getting paid reads it they'll likely ignore it as it doesn't apply to them.

There is no possibility of Lock making a resurgence of any kind, but I do believe they can keep this current state up for another year as long as no legal options become available to the US players.
05-21-2013 , 01:42 PM
But macgyver, what about the non-U.S. players? Why does it have to be the U.S. Government? If I was a resident of a nation where playing on Lock was legal, wouldn't I have some sort of recourse? That part is confusing to me. I understand that U.S. players wouldn't have legal recourse, but why can't other nations take action against this site on behalf of their very own players?
05-21-2013 , 01:49 PM
Quote:
Originally Posted by vindictive27
But macgyver, what about the non-U.S. players? Why does it have to be the U.S. Government? If I was a resident of a nation where playing on Lock was legal, wouldn't I have some sort of recourse? That part is confusing to me. I understand that U.S. players wouldn't have legal recourse, but why can't other nations take action against this site on behalf of their very own players?
I don't know the answer to that question. The point I was getting at is that once the US allows online poker again (which has already happened in Nevada) the Lock player pool will be decimated and it will lead to the collapse of the site and network.

I would think if you lived in the country that Lock is located that you may be able to file suit against them there but if you're in another country I don't know how that would work. I suppose you could file complaints to whatever gaming commission they have their license with but, knowing Lock, whatever gaming commission that is is probably as big of a joke as they are.
05-21-2013 , 02:03 PM
Quote:
Originally Posted by macgyver72
I don't know the answer to that question. The point I was getting at is that once the US allows online poker again (which has already happened in Nevada) the Lock player pool will be decimated and it will lead to the collapse of the site and network.

I would think if you lived in the country that Lock is located that you may be able to file suit against them there but if you're in another country I don't know how that would work. I suppose you could file complaints to whatever gaming commission they have their license with but, knowing Lock, whatever gaming commission that is is probably as big of a joke as they are.
I think you are overestimating the amount of players on the network now. Check out Pokerscout or something similar - it's not like they are pulling in huge numbers. Lock's already took a chunk out of their numbers with their inept policies - if the US player pool there now is really the only thing keeping them going, then it only begs the issue further of why Lock isn't doing every single possible thing they can to build, regain, and sustain customer loyalty with US players.
05-21-2013 , 02:15 PM
Quote:
Originally Posted by IHasTehNutz
I think you are overestimating the amount of players on the network now. Check out Pokerscout or something similar - it's not like they are pulling in huge numbers. Lock's already took a chunk out of their numbers with their inept policies - if the US player pool there now is really the only thing keeping them going, then it only begs the issue further of why Lock isn't doing every single possible thing they can to build, regain, and sustain customer loyalty with US players.
I think it's because they realize that they won't be able to keep the US players long anyway, no matter how well they treat us. They could get cashout times down to a week and it still won't compare to them being instant like it is in Nevada.

Personally, if I were running Lock I would be in panic mode right now. ROW players have Stars and US will soon have very good options as well. No matter how high of rb you give people will always take comfort and security of their funds even with lower rewards
05-21-2013 , 04:49 PM
I think Lock can continue for a long time. ROW payouts are v.slow but not nearly as bad as US cashouts the worst i've seen on the ROW only cashout thread is 108 days and average seems to be around 60 days. But the point is money is coming off slowly. But alot of money remains on the site and people are continuing to play and generate rake. Also i pressume players from other skins are still depositing and contributing to the funds of the network.

Another thing to consider is so many players have money trapped on there and don't have the money to deposit on another site and are continuing to play in the hope they will eventually get all their lock dollars. Remember poker players need to play poker! And even though many would not admit to it on 2p2 many are still playing. That's why the decrease in traffic has leveled off.

Also if lock did go bust they could v.easily be bought by another company (existing skin or new skin) and people may get there money a year or so from a collapse of lock, if lock does collapse

Last edited by DonkeyKong85; 05-21-2013 at 04:52 PM. Reason: grammatical mistake
05-21-2013 , 07:53 PM
There is 0 chance of anyone buying Lock and paying out players. That would be an act of pure charity.
05-21-2013 , 11:47 PM
Quote:
Originally Posted by DonkeyKong85
I think Lock can continue for a long time. ROW payouts are v.slow but not nearly as bad as US cashouts the worst i've seen on the ROW only cashout thread is 108 days and average seems to be around 60 days. But the point is money is coming off slowly. But alot of money remains on the site and people are continuing to play and generate rake. Also i pressume players from other skins are still depositing and contributing to the funds of the network.
So in essence, wouldn't Lock be able to stall U.S. payouts indefinitely in order to always pay ROW players first? That's a pretty scary notion, but if Lock's money was tight, as it inevitably seems, then U.S. players would automatically be paid last continually, even if it means 160 day average payouts for them and a 60-day avg. of ROW?

And yet, if the U.S. players represent a large % of both current and new traffic, they're still treated the worst in regards to payouts simply because Lock can?

Can America change already? The delay of the legalization of online poker has taken so long that I haven't even kept up with the updates of something passing to legalize it. It's also causing us as players to get caught in Ponzi schemes and other nonsense.
05-22-2013 , 01:21 AM
In October 2012 I was telling people 50/50 chance Lock is out of business by end of 2015, but now clearly odds that they are done by end of 2015 is looking much higher than 50%.
05-22-2013 , 02:27 AM
Quote:
Originally Posted by dhcprogue
In October 2012 I was telling people 50/50 chance Lock is out of business by end of 2015, but now clearly odds that they are done by end of 2015 is looking much higher than 50%.
You have to realize that Lock has 0.0 incentive to close up shop and walk with whatever $$ they have.

Keep in mind 2p2 members only make up a small to medium % of their player base.

Lock sees paying out the vocal players as an investment into future deposits and rake generation.

As long as they think investing in sporadic payouts will turn a profit in the long run, there is no reason for them to close up shop.
05-22-2013 , 02:32 AM
Quote:
Originally Posted by BuSTMeANuT
You have to realize that Lock has 0.0 incentive to close up shop and walk with whatever $$ they have.

Keep in mind 2p2 members only make up a small to medium % of their player base.

Lock sees paying out the vocal players as an investment into future deposits and rake generation.

As long as they think investing in sporadic payouts will turn a profit in the long run, there is no reason for them to close up shop.
I disagree. Because their player base has been cut in half recently that would indicate that more players are moving their funds off of Lock. If Lock understands that there will be a day that they have to close up shop, they'd be able to get off with a lot more money by cut and running now than paying out people that are essentially closing their accounts and doing it when they have less than 200 players/day.
05-22-2013 , 02:52 AM
Quote:
Originally Posted by macgyver72
I disagree. Because their player base has been cut in half recently that would indicate that more players are moving their funds off of Lock. If Lock understands that there will be a day that they have to close up shop, they'd be able to get off with a lot more money by cut and running now than paying out people that are essentially closing their accounts and doing it when they have less than 200 players/day.
You're missing the point. Lock doesn't have 100% of their customers money. All evidence suggests this to be true.

Are you saying that if every customer of Lock Poker cashed out they would pay everyone?

Be honest.
05-22-2013 , 05:54 AM
a lot of profit in deposit only site, since they don't pay out or if they do to a select few I would say they can go on for a very long time.
05-22-2013 , 06:15 AM
Quote:
Originally Posted by DaycareInferno
There is 0 chance of anyone buying Lock and paying out players. That would be an act of pure charity.
Totally agree. Maybe maybe maybe they buy lock and give the players pennies on the dollar. Best case scenario. In a legal way, just like bankruptcy.
05-22-2013 , 06:19 AM
IMO, they will cease to exist only once they run out of funds to even cover their overhead.... Like support, security, software, and so on. It will be just like a play money site.
05-22-2013 , 06:58 AM
remember this, the netwok it self is run and owned by cake poker. how it works is if a skin on the network lose money and the other skin win money at the end off the month they are told by network how much the owe each other, And is then settled.
while i can tell you on the lock skin they count for around 30-50% off players on the netwok. my question to you is this. the network its self (owned by cake) would not let lock poker continue to play on the network if it was not settling there loss every month with the network because the notwork itsself has to pay out other skins if lock dont.
if this was the case the network would only allow lock players to play lock players on the network.so then the network itsself has no liability. but this is not the case. so looking at the point i can assure you that lock has the money, why they are slow on payint it out who nos.
05-22-2013 , 07:22 AM
Quote:
Originally Posted by BuSTMeANuT
You have to realize that Lock has 0.0 incentive to close up shop and walk with whatever $$ they have.

Keep in mind 2p2 members only make up a small to medium % of their player base.

Lock sees paying out the vocal players as an investment into future deposits and rake generation.

As long as they think investing in sporadic payouts will turn a profit in the long run, there is no reason for them to close up shop.
As long as there are raked games playing on the site Lock will never close the site on its own. LOck just hoping to sucker in as many as possible to keep the sham going. Because its poker no governmental agency that could shut them down will go after them and Jen Larsen knows she can operate with impunity. If it was anything other then poker business related Lock would have been shut down already.
05-22-2013 , 12:07 PM
Quote:
Originally Posted by BuSTMeANuT
You're missing the point. Lock doesn't have 100% of their customers money. All evidence suggests this to be true.

Are you saying that if every customer of Lock Poker cashed out they would pay everyone?

Be honest.
I get the point. Evidence indicates it is likely that Lock doesn't have all of the player funds. However, it's proven that they have been paying people. You're missing my point. Lock will definitely have to shut down eventually. Doing it now, because they will not have to keep paying out to keep up the facade of being solvent, would net them more $ than doing it in 6 months when their player pool is down to 200/day.

If everyone on Lock chose to cash off their funds today I don't have any more proof that they would be paid than you have that they wouldn't.
05-22-2013 , 12:40 PM
Quote:
Originally Posted by jackpot_1mil
remember this, the netwok it self is run and owned by cake poker.
Do you have as well a proof that Cake Entertainment N.V. owns the Revolution Gaming Network?
05-22-2013 , 12:50 PM
The question itself is an insinuation!
05-22-2013 , 01:33 PM
Quote:
Originally Posted by jackpot_1mil
remember this, the netwok it self is run and owned by cake poker. how it works is if a skin on the network lose money and the other skin win money at the end off the month they are told by network how much the owe each other, And is then settled.
while i can tell you on the lock skin they count for around 30-50% off players on the netwok. my question to you is this. the network its self (owned by cake) would not let lock poker continue to play on the network if it was not settling there loss every month with the network because the notwork itsself has to pay out other skins if lock dont.
if this was the case the network would only allow lock players to play lock players on the network.so then the network itsself has no liability. but this is not the case. so looking at the point i can assure you that lock has the money, why they are slow on payint it out who nos.

I think it is more complicated than this. The network has already lost smaller skins due to not meeting these reconciliation payments. The relationship between Lock/Cake/Revolution/etc. is still very fuzzy, but I don't think it's anywhere near clear that the network runs a tight ship on this front. I don't think we can presume anything about the flow of money between the network and various skins
05-22-2013 , 02:26 PM
Quote:
Originally Posted by DaycareInferno
There is 0 chance of anyone buying Lock and paying out players. That would be an act of pure charity.
Do you have as well a proof of this?

      
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