Eurolinx w/d problems > UPDATE: Eurolinx seeks to put business into liquidation. - Page 21 - Internet Poker

jdredd · 07-02-2009, 12:39 AM

i dont see how they can consider the matter resolved while some people havent been paid in closing on 3 months

uffda · 07-02-2009, 03:29 AM

Quote:

Originally Posted by Hercules

hey guys,

Eurolinx is located in Malta. iirc, By maltese regulations player funds have to be in separate accounts. Knowing this, the funds *should* be somewhat safe.

They are actually not licenced in Malta (I thought they were too), they are licenced in Curacao in the Netherlands Antilles.

chuck-raise · 07-02-2009, 06:09 AM

Quote:

Originally Posted by theblindman

IMO the new promotions are an indication that they think the issues are largely resolved and they can start enticing players back.

Or maybe they're trying to go out with a bang?

I remember when Battlefield went down. It was not because of the room, but because player deposits were held on Tusk's trust fund. The bad thing with this is not only that players' money are given to a 3rd party, but also because they do not store that money - they use it for investments, etc.

I figure that probably Eurolinx (and other MicroGaming skins) player deposits are held on trust funds, then the money is invested somewhere, but due to the recent 'financial crisis' they (the trust fund) might have LOST our (Eurolinx's) money.

So now they are bankrupt! The only good thing I stil see, is that a poker room is not a very expensive business to keep - they are going to wait untill players rake up some cash for our withdrawals and then pay them out. I figure that Eurolinx is broke, but they do not want to go down. That is what these reload bonuses are for - to attract players and generate rake, so that the business could be up and running again. Unfortunately, many players are running away from a crippled site, leaving it with less and less rake generated.

I still haven't cleared my bonus on Eurolinx. But when I do, I'm not going to jump into requesting a cash out. Maybe they will give me some opt in bonus to generate more rake for them.. I see no point in requesting a withdrawal and having my money stuck in a limbo.

This is my view on the current situation. Let's hope it all turns out well..

sick · 07-02-2009, 06:54 AM

Quote:

Originally Posted by chuck-raise

Or maybe they're trying to go out with a bang?

I remember when Battlefield went down. It was not because of the room, but because player deposits were held on Tusk's trust fund. The bad thing with this is not only that players' money are given to a 3rd party, but also because they do not store that money - they use it for investments, etc.

I figure that probably Eurolinx (and other MicroGaming skins) player deposits are held on trust funds, then the money is invested somewhere, but due to the recent 'financial crisis' they (the trust fund) might have LOST our (Eurolinx's) money.

So now they are bankrupt! The only good thing I stil see, is that a poker room is not a very expensive business to keep - they are going to wait untill players rake up some cash for our withdrawals and then pay them out. I figure that Eurolinx is broke, but they do not want to go down. That is what these reload bonuses are for - to attract players and generate rake, so that the business could be up and running again. Unfortunately, many players are running away from a crippled site, leaving it with less and less rake generated.

I still haven't cleared my bonus on Eurolinx. But when I do, I'm not going to jump into requesting a cash out. Maybe they will give me some opt in bonus to generate more rake for them.. I see no point in requesting a withdrawal and having my money stuck in a limbo.

This is my view on the current situation. Let's hope it all turns out well..

i think ure missing the part where when u rake the number of hands u receive a bonus almost equal to the rake u generated. a reload bonus is not a way to make money for EL. if u stay afterwards. yes. if u rake just half the bonus. yes. but otherwise..

chuck-raise · 07-02-2009, 07:37 AM

Quote:

Originally Posted by sick

i think ure missing the part where when u rake the number of hands u receive a bonus almost equal to the rake u generated. a reload bonus is not a way to make money for EL. if u stay afterwards. yes. if u rake just half the bonus. yes. but otherwise..

Surely bonuses aren't 100% rakeback. My 1st deposit bonus is 14x raked hands per bonus dollar (equal to the reload bonus) and I got only ~40% rakeback on NL50. Of course on higher limits it's better, but I doubt it's 100% rakeback.

TheRaiderr · 07-02-2009, 09:00 AM

Quote:

Originally Posted by theblindman

IMO the new promotions are an indication that they think the issues are largely resolved and they can start enticing players back.

I received a $1k Neteller withdrawal last week after 4 weeks of waiting. I have requested a 2nd withdrawal, but I will continue to play there with a minimal bankroll. The promotions are very attractive, and the rake races have been very easy money since all this trouble started so there are potentially very good returns for those who have a bit of faith to stick with it.

All that said, I certainly wouldn't be risking a large bankroll on the site just yet and I probably won't be taking up the reload unless I actually need to reload.

you silly to think that. The new promo's could just be trying to get more money on the site and nothing more than that. It definitly isn't linked to them thinking it is resolved (unless they are trying to get more money on too pay out others )

EL have always had great promo's but I wouldn't touch them at the moment.

sick · 07-02-2009, 09:13 AM

i think that the issues here is trust. some think they don't have the money. i doubt that. i just think they can't send the money for some reason.

i too belive that the new bonus is probably a good thing. we'll see.

ubeticall · 07-02-2009, 10:01 AM

They offer this reload every couple of months, bad timing though

TwoSixSooted · 07-02-2009, 03:41 PM

Quote:

Originally Posted by sick

i think that the issues here is trust. some think they don't have the money. i doubt that. i just think they can't send the money for some reason.

i too belive that the new bonus is probably a good thing. we'll see.

HA
HA
HA

Yes, that's the issue here. Trust!

Jurrr · 07-02-2009, 06:50 PM

Josh: Hello. How may I assist you?
you: 2009-07-01 22:48:43 withdrawal pending $xxxxx Withdrawal via Moneybookers
you: I wonder how long do these usually take?
you: I initiated it yesterday and nothing seems to be changing
Josh: Kindly hold on for a moment. Thank you.
Josh: They are normally processed within three days.
Josh: Kindly note though that there are some delays in processing at the moment, due to tightened security checks on withdrawals.
you: so how much time should it take with the delays?
Josh: I am afraid I do not have a strict time frame to provide you with. Your withdrawal will be processed as soon as possible.
you: well OK but approximate ballpark?
Josh: I am sorry, but the strictest 'estimate' I have is that it will be processed as soon as possible.
you: ok thank you

Doesn't sound very promising.

sick · 07-02-2009, 08:08 PM

Quote:

Originally Posted by Jurrr

Josh: Hello. How may I assist you?
you: 2009-07-01 22:48:43 withdrawal pending $xxxxx Withdrawal via Moneybookers
you: I wonder how long do these usually take?
you: I initiated it yesterday and nothing seems to be changing
Josh: Kindly hold on for a moment. Thank you.
Josh: They are normally processed within three days.
Josh: Kindly note though that there are some delays in processing at the moment, due to tightened security checks on withdrawals.
you: so how much time should it take with the delays?
Josh: I am afraid I do not have a strict time frame to provide you with. Your withdrawal will be processed as soon as possible.
you: well OK but approximate ballpark?
Josh: I am sorry, but the strictest 'estimate' I have is that it will be processed as soon as possible.
you: ok thank you

Doesn't sound very promising.

it doesn't but still. did u expect to get it immediately?...

patience.let us know on 7th if u get it. i'm quite curious.

theblindman · 07-02-2009, 09:13 PM

Quote:

Originally Posted by Jurrr

Doesn't sound very promising.

a) What's the point asking about a withdrawal you only requested 2 days ago?
b) Live support don't know anything anyway, so it's a bit of a waste of time talking to them

theblindman · 07-02-2009, 09:16 PM

Quote:

Originally Posted by TheRaiderr

you silly to think that. The new promo's could just be trying to get more money on the site and nothing more than that. It definitly isn't linked to them thinking it is resolved (unless they are trying to get more money on too pay out others )

Could be, but I noticed that they didn't go hard on the promos a month ago when NOBODY was getting any money out. I agree that they may have liquidity problems, but they do seem to be attempting to get through this as a functioning company rather than just taking everybody's money and running.

theblindman · 07-02-2009, 09:18 PM

Quote:

Originally Posted by chuck-raise

Surely bonuses aren't 100% rakeback. My 1st deposit bonus is 14x raked hands per bonus dollar (equal to the reload bonus) and I got only ~40% rakeback on NL50. Of course on higher limits it's better, but I doubt it's 100% rakeback.

Reload bonus+Rakeback+Rake races+aces never lose=????

The upside is that most people are not smart enough to have all that going on at the same time.

Jurrr · 07-03-2009, 01:52 AM

Quote:

Originally Posted by theblindman

a) What's the point asking about a withdrawal you only requested 2 days ago?
b) Live support don't know anything anyway, so it's a bit of a waste of time talking to them

a) Well, the point is that they should have a better answer than "ASAP" in mind.

b) That is also kinda retarded in that case.

I'm moving off Eurolinx anyway...

So is Microgaming unique in that the skins manage their own money (and not the network all of it)? Or is that all bs?