This is the first time anything of this nature has happened to me. Hard to believe that it's a standard practice. I'll deposit money on Ignition, then withdraw everything a couple of weeks later with no issues without paying 1000-2000 dollars of rake on my 10-20k deposit

I disagree that no depositors read the rules for cashing out. I always do, but I can't say for certain that I would have found it, or even looked for it, if it were my first time depositing on a gambling-related site.

I'm not sure what the optimal solution is as far as transparency. At the extreme, you could require a click to acknowledge each rule separately, but even then you will have some depositors just clicking "accept" until it takes their money. Probably a link from the cashier (when depositing) to the rule page for cashing out would be helpful in terms of transparency.

Anyways, 500 people have seen this. Maybe they'll change their policy. They certainly won't disclose it upfront because nobody would deposit if they saw a warning saying there is a guaranteed loss of 10 percent of initial deposit(s?) before withdrawing.

lol

What's clear is that you are not very reasonable, based on things like your threat to smear them and statements like "a guaranteed loss of 10 percent of initial deposit(s?) before withdrawing."

I'm not a fan of allowing you to cross post 4 or 5 or however many times you did and then also create a thread like this. You attempting to damage the site's credibility in order to get satisfaction on your personal issue could have an impact on other players. I'm not buying your concern for others line.

+1

If you had 7700 dollars locked up on a poker site that you can't withdraw except by spending hundreds of hours playing games you don't want to play, you might feel a bit differently

This affects enough people for there to be a new thread about it every week. Everyone is acting in their self interest--the poker site is forcing action on new depositors, and I'm telling everyone about it.

I'm sharing the truth about what happened to me as a new depositor. It's a bad experience.

You stated in your opening post you were playing 25/50nl. At those stakes it would definitely not take you hundreds of hours to clear the rake requirement. I am going to be perfectly honest, I find it hard to believe a knowledgable player wouldn't do their homework to find out if they wanted to play at those stakes on any particular site. So that being said I can only come to the conclusion that you are not a knowledgable player which means you are ignorant. And you being ignorant is not the networks fault. There is no one to blame but yourself and the fact that you think your word of mouth carries any weight makes you arrogant as well. So suck it up buttercup.

Oh and before someone comes in here telling me him playing 25/50nl would definitely take him hundreds of hours what he meant was that he was playing 5000nl

Well go and play your required hours and come back and report that you doubled your money, do a double fist pump, and peace out of the thread.

The percentage of people who deposit $10,000 on the site as a first deposit is extraordinarily small. Asking that you cover the costs of processing is normal, standard, required by PokerStars (even though they were in the past lax in enforcing this, they are doing it much more recently) and reasonable.

You absolutely have no idea what you are talking about.

--
Kahn

I think op should have access to his funds - You guys are insane for thinking otherwise. Don't let him deposit 10k than. Restrict him to 2000 deposit or cheaper - they can clearly cover the costs - and if he does it in the future just warn him.

Or warn him before he deposits such a large amount that the company has to endure heavy deposit costs - and let him make a decision to deposit 10k.

IMO it's crazy people think the company is in the right. No bank does this - E-trade won't do this - why does some poker site get the right to do it? I've done business with foreign web sites - like Ripple and Gatehub. No one restricts access to my funds.

+1

IMO it's crazy that you can't realize the difference that these companies have in the cost in processing transactions.

Why it's hard for anyone to do anything but troll OP is because the majority of posters in this forum have had a good experience with the Winning_TD helping them out with issues. Him coming in ranting "Scam" "Ponzi" "lose 10% of your money" makes him seem very unreasonable. The guy is in the right place to at least get some kind of closure to his issue but all he can do is throw bombs.

The irony is thick. OP deposits stacks, complains and threatens because he doesn't get what he wants then tries to rationalize his ignorance... yea sounds about right...

It's been a long time since I downloaded a poker client or make a new account for one but I can say with almost 100 percent certainty that they have a link to the TOC when you create the account and even have a little box you have to check saying you read it. So if you clicked the box and didn't read it then it's on you since you agreed to the terms and agreed to follow them.

But like everyone else in this thread this is standard I've been playing online since I was 18 and have always known of this rule.


Also you talk about banks and E*TRADE not doing this and that is because they already sent a note to the IRS because they have to report large transactions and transactions that add up to a large amount.

Ok so dont post here.

Thanks

In no world when you deposit on bet365 in my case or any poker site do they give you any info like that.

People have a choice to read them or dont read them, i never do but however i do know my own terms and conditions, thanks for your concern.

Your comment about lower stakes games having higher rake is just ridiculous. People that player lower wont dep 10k and have that issue they may dep $100 and have to rake 10.

What is it with that word shady.. When its public knowledge how on earth can it be shady?

Dont post in player issue thread anymore its not the right place!

Count yourself lucky. The 10% play-through requirement WPN has imposed upon you is nothing compared to how WSOP.com, a "safe and regulated" site acts. Here's an article about a respected 2+2'er and poker journalist who was denied a $411 cashout, based on a $400 deposit, after raking $273 dollars lol. They wanted him to rake even more! He finally had to threaten to complain to regulators to get his payout.

https://www.safestpokersites.com/blo...ague-wsop-com/

--
Kahn

Even tho $1k seems like a lot but who knows what their processing cost is, raking 10% is standard. How do you put 1000s of $$$ on a site without doing research on the site? Your lucky you put the money on this site and not some scam site lol.

Take this as a lesson and learn from it or you're gonna go thru a lot of pain in this world.

I cannot fathom how so many defend the poker site and even mock the op.

1) they really should mention this when you deposit
2) while transaction fees especially for us plays can be very high, if the op used bitcoin they're next to nothing.
3)op does sound silly calling them a ponzi scheme etc but in fairness i'd be pretty pissed off too if i couldn't get my money

Not sure if this view has been brought up but when he signed up he most likely did so using a deposit bonus. So if WPN is offering a bonus to get people to sign up why shouldn't there be some sort of play through the requirements. There would be no reason to offer the deposit bonus on their end without some sort of minimum play expectations.

You're the OP. You don't get to +1.

I think OP is a turd and am sympathetic to the fact sites have significant processing costs but when it comes to high stakes I think there should be more leniency. If someone was to want to play 25/50 on a site they could conceivably deposit $100k. The rake requirement would be very high and things can change fast on the site or the intended match to result in no or much less action. Then what? You never can have your money unless you rake a ton of money vs the high stakes bots?

There should be a middle option like a withdrawal fee to cover processing fees.... it sure as hell isn't 10% though. I know for a fact banks send $100 million + for less than a hundred dollar transaction fee. Admittedly much less risk because between huge banks but still ......

I do actually agree with this post. There should be some judgment calls. Even more reason OP shouldn't have gone into a thread meant to help by one of the people that maybe make a judgment call that is meant to help people and call it a "scam" "ponzi".

That being said there should never be a vindictive nature when it comes to people's money. Hopefully OP calms down a little and maybe there can be a dialogue?

Note: I do not speak for WPN despite modding here, views are solely my own

Edit: It's certainly more than 10% on non bitcoin so you're definitely off there (not to mention they have had to deal with processors going rogue with money). I'm not sure what it is on bitcoin but they do use a 3rd party to process them so they're incurring fees.