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| Internet Poker Discussions of Internet poker venues. |
06-22-2011, 11:56 PM
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#1846
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Pooh-Bah
Join Date: Jul 2010
Location: Motor City!
Posts: 4,259
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Re: FTP US Player Update 5/30
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Originally Posted by Scrappydog
I'm 37, how old are you? Your hanging out reading nvg, when you are still allowed to play poker, you have 3k posts, how much strategy have you learned in nvg? I have several poker buddies in the REAL world, we discuss hands all the time, I dont waste time in poker forums when I could be playing poker or reviewing sessions. I hope you still have money on ftp, and you lose it too. Then maybe, just maybe you would feel a sliver of the frustration I feel re: the monkeys running ftp.
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[ ] nvg
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06-23-2011, 12:04 AM
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#1847
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veteran
Join Date: May 2006
Location: Columbus, OH
Posts: 3,198
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by Scrappydog
I'm 37, how old are you? Your hanging out reading nvg, when you are still allowed to play poker, you have 3k posts, how much strategy have you learned in nvg? I have several poker buddies in the REAL world, we discuss hands all the time, I dont waste time in poker forums when I could be playing poker or reviewing sessions. I hope you still have money on ftp, and you lose it too. Then maybe, just maybe you would feel a sliver of the frustration I feel re: the monkeys running ftp.
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I'm 25. I never read NVG. I have 3K posts in over 5 years, and I would say most of them have actually helped someone else. I am good enough at poker that I rarely need to "waste time" reviewing sessions. I am American, my money is frozen like all other Americans.
IMO, this film explains how you came to be you.
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06-23-2011, 12:08 AM
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#1848
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veteran
Join Date: Jun 2009
Posts: 2,377
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Re: FTP US Player Update 5/30
wp^
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06-23-2011, 12:26 AM
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#1849
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veteran
Join Date: May 2007
Location: Melbourne Australia
Posts: 2,520
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by early325
They were estimated to be profiting ~$100M/year before BF, and IMO, that was likely too high (considering how inept they've proven to be). $50M/year would be extremely generous as of now.
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$350 million a year was the figure I heard b4 BF, wich was less than the $500 million stars was clearing. But obv I don't know for sure...
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06-23-2011, 12:30 AM
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#1850
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veteran
Join Date: May 2006
Location: Columbus, OH
Posts: 3,198
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by genher
$350 million a year was the figure I heard b4 BF, wich was less than the $500 million stars was clearing. But obv I don't know for sure...
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http://www.forbes.com/forbes/2010/03...ine-poker.html
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PokerStars, situated on the Isle of Man, claims it has legal opinions from five U.S. law firms saying it is not violating any laws. The company has an estimated $1.4 billion of annual global revenue and some $500 million in profit
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Quote:
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Full Tilt, which we estimate generates some $100 million in profits on $500 million in annual revenue, did not respond to requests for comment.
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I'm not in any way treating that as fact, but I feel it's the most accurate published estimate.
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06-23-2011, 12:43 AM
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#1851
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Carpal \'Tunnel
Join Date: Dec 2009
Location: 6'20" and killing for fun.
Posts: 12,181
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by early325
There is no evidence of this. The sum of 29/(75 to 80) (36%-39%) of the frozen accounts is $23.36M (~16%), though. These accounts do not all belong to FTP, but it does not suggest that they had the money.
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I am not sure what math you are doing here, dividing the number accounts frozen by the total accounts held? If so you are making a big assumption that cash is spread evenly over all the accounts which is not a reasonable assumption. Well run comnpanies aggregate their cash position on a daily basis so the excess funds can be invested. It's common for most accounts to have a zero balance at the end of the day with the excess/negative positions being rolled into controlling accounts.
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06-23-2011, 12:47 AM
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#1852
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veteran
Join Date: May 2006
Location: Columbus, OH
Posts: 3,198
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by seattlelou
I am not sure what math you are doing here, dividing the number accounts frozen by the total accounts held? If so you are making a big assumption that cash is spread evenly over all the accounts which is not a reasonable assumption. Well run comnpanies aggregate their cash position on a daily basis so the excess funds can be invested. It's common for most accounts to have a zero balance at the end of the day with the excess/negative positions being rolled into controlling accounts.
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If I were making said assumption, I wouldn't have speculated...I would have just said "obviously they didn't have it." I was countering someone saying "they had the money" by providing evidence that they didn't. I did not say he was wrong, just that he should rethink his assumption that they had the money.
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06-23-2011, 12:58 AM
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#1853
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veteran
Join Date: May 2007
Location: Melbourne Australia
Posts: 2,520
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by early325
I'm not in any way treating that as fact, but I feel it's the most accurate published estimate.
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Forbes is usually pretty reliable. These figures are probably about correct
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06-23-2011, 02:17 AM
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#1854
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enthusiast
Join Date: Jun 2011
Posts: 96
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by early325
I'm 25. I never read NVG. I have 3K posts in over 5 years, and I would say most of them have actually helped someone else. I am good enough at poker that I rarely need to "waste time" reviewing sessions. I am American, my money is frozen like all other Americans.
IMO, this film explains how you came to be you.
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didn't bother to watch the film, it would be a waste of time, and seriously, if you have 3k posts, you are truly wasting time and must be one ugly sob, and if your not reviewing your sessions and tough spots, more power to ya, im sure you are constantly getting better since you post 3k times here, btw, when I was 21-25 the thought of sitting at home posting on forums.... lol at you! gg buddy
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06-23-2011, 02:24 AM
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#1855
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veteran
Join Date: May 2006
Location: Columbus, OH
Posts: 3,198
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by Scrappydog
didn't bother to watch the film, it would be a waste of time, and seriously, if you have 3k posts, you are truly wasting time and must be one ugly sob, and if your not reviewing your sessions and tough spots, more power to ya, im sure you are constantly getting better since you post 3k times here, btw, when I was 21-25 the thought of sitting at home posting on forums.... lol at you! gg buddy
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I sincerely hope that at age 37, I am never relying on someone else to make my life comfortable (e.g. you need FTP to pay you for your life to be stable.) So I am taking the proper precautions now (at age 25), so I don't end up like you (at age 37). I generally respect people who are older than me, but you are a clown.
EDIT: It is quite fitting that you think education is a waste of time.
Last edited by early325; 06-23-2011 at 02:37 AM.
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06-23-2011, 02:24 AM
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#1856
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Pooh-Bah
Join Date: Feb 2007
Posts: 3,664
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Re: FTP US Player Update 5/30
It just hit me the doj is responsible for all the pain and suffering caused to poker players wishing to cashout. We did not think we were doing anything illegal and there was no warning that we were doing anything wrong. In fact it was legal to play and cashout. The DOJ seized funds and made no attempt to release funds equal to withdrawals. To me iI think it is worth about $10,000 in pain and suffer a day. Multiply that by 1,000,000 players and you have damages caused by the DOJ in tune of $10 billion a day.
Does this lawsuit have merit?
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06-23-2011, 02:55 AM
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#1857
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veteran
Join Date: May 2006
Location: Columbus, OH
Posts: 3,198
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by steelhouse
It just hit me the doj is responsible for all the pain and suffering caused to poker players wishing to cashout. We did not think we were doing anything illegal and there was no warning that we were doing anything wrong. In fact it was legal to play and cashout. The DOJ seized funds and made no attempt to release funds equal to withdrawals. To me iI think it is worth about $10,000 in pain and suffer a day. Multiply that by 1,000,000 players and you have damages caused by the DOJ in tune of $10 billion a day.
Does this lawsuit have merit?
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To the bolded: No.
The DOJ's legal opinion is that it did not freeze player funds, it froze site funds. Players will not be able to adequately argue against that opinion without cooperation from FTP.
http://forumserver.twoplustwo.com/15...aries-1050235/
^ Start at post #97 and read the rest for a better idea of your current options through the legal system.
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06-23-2011, 03:17 AM
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#1858
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journeyman
Join Date: Jun 2003
Posts: 389
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by steelhouse
We did not think we were doing anything illegal and there was no warning that we were doing anything wrong.
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Whether or not it should be illegal, it is laughable that anyone playing poker online from the US since UIGEA didn't know that the DOJ thought it was illegal. This was hardly the first DOJ action which impeded cashouts to US players, just by far the most effective one.
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06-23-2011, 04:21 AM
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#1859
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centurion
Join Date: Apr 2011
Posts: 130
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Re: FTP US Player Update 5/30
Quote:
Originally Posted by knn05
At the very least, FT could do the few things that they said would be done with this release from almost a month ago and, I believe, the one before it. Convert iron man medals, replace funds people cashed out but never received, etc.
All of those things should be done by now, 2 months later, so at least account balances would be correct. Then, quite frankly, if they were to give me an estimate (even it were, say, Oct) as to when they would cash us out, I'd feel much better about the entire situation.
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The fact that they've stopped doing the things needed to get our account squared up since their May 30 announcement pretty much tells me they've given us the big FU in regards to paying us.
I saw right through their stalling tactics from the beginning. Funny how US account have remained unchanged since May 30 (FTPA Store purchase not yet reversed, Limbo funds not yet returned, Medals yet to be converted, etc).
It pains me to see non US players getting paid (although slower than normal while we just sit there no able to do anything with our funds). These money being paid out belong to us all...US, Europe, Aussie, China....EVERYONE! It's not like when a Euro or Canadian player makes a deposit the money goes to a special fund labeled Euro Fund or Canadian Fund.
The selfish side of me wished they'd just fold up and close shop so I can have some closure and I know my $1k balance is small compared to what a lot of people have on FT. Sometimes when you have a ****load of debt with no way of repaying, you have to do the honorable thing and wave the white flag and sell. Maybe the idiots at FT can take some lessons from the Maloof brothers who just sold their shares in the Palms Hotel to pay off their debts.
What pisses me more is that 3 weeks after their last announcement, things have gone quiet and this in turn have sort of given FT a "Get out of Jail FREE" card.
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06-23-2011, 04:42 AM
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#1860
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Pooh-Bah
Join Date: Jun 2004
Posts: 4,093
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Re: FTP US Player Update 5/30
I think some of us now realize FTP was running their business like morans and now we are the ones paying for their mistakes. I sure would love to get my 5k back but it's looking more and more as if they are taking no steps to get it back to us. They don't have it.
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