FTP $ is worth ??? on the dollar? - Internet Poker

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FTP $ is worth ??? on the dollar?

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05-23-2011 , 03:17 AM

Drignatio

newbie

Join Date: May 2007 Posts: 37

It is looking very suspicious that FTP is taking so long to get everyone's money back, especially since Stars was able to do so weeks ago.

Myself, like anyone, has money stuck on the site. One of my friends has offered to buy my FTP money now... write me a check and in exchange he gets my account balance if/when FTP ever pays out.

I can't decide on how much FTP $ is worth on the dollar... need everyone's help!

Please take it seriously and all you have to reply with is: worth $0.XX on the dollar. Also, please state whether or not you have money stuck on FTP as well as the amount.

Thanks!!!

05-23-2011 , 03:22 AM

rodbama

enthusiast

Join Date: Jan 2007 Posts: 91

For a USA player I would not take less than .90 -.95

05-23-2011 , 03:24 AM

syncmaster

old hand

Join Date: May 2006 Posts: 1,588

Quote:

Originally Posted by Drignatio

Please take it seriously and all you have to reply with is: worth $0.XX on the dollar. Also, please state whether or not you have money stuck on FTP as well as the amount.

Thanks!!!

Are we not allowed to say $1.00, because that's my answer.

Yes I have money stuck on FTP.

05-23-2011 , 03:27 AM

udbrky

Formerly known as udbrky

Join Date: Oct 2005 Posts: 28,908

How can you sell your $?

05-23-2011 , 03:30 AM

tagtastic

veteran

Join Date: Jun 2005 Posts: 3,387

about $3.50

05-23-2011 , 03:33 AM

SuperJez

banned

Join Date: Mar 2005 Posts: 2,087

id guess 75c-80c

05-23-2011 , 03:38 AM

syncmaster

old hand

Join Date: May 2006 Posts: 1,588

Quote:

Originally Posted by udbrky

How can you sell your $?

Quote:

Originally Posted by Drignatio

One of my friends has offered to buy my FTP money now... write me a check and in exchange he gets my account balance if/when FTP ever pays out.

05-23-2011 , 03:42 AM

sixfour

should be called sevenfour

Join Date: Dec 2005 Posts: 74,764

I'd say about $1

05-23-2011 , 03:46 AM

zachvac

Carpal \'Tunnel

Join Date: Apr 2008 Posts: 13,775

I've bought at 80c and have turned down the opportunity to sell my ~20k at 80c. It's definitely worth at least 90c to me. Probably not more than 95c because that was the going rate for cash before black friday. So 90-95c imo.

05-23-2011 , 03:49 AM

#10

fraleyight

Carpal \'Tunnel

Join Date: Apr 2010 Posts: 13,384

i cant beleive people are saying 1 dollar. even if ftp does pay (which im sure they will) it could still easily take a couple weeks even that is worth something isnt it. shouldnt you make something for making a loan like that.

i would say its worth between 90-95 on the dollar.

05-23-2011 , 03:49 AM

#11

udbrky

Formerly known as udbrky

Join Date: Oct 2005 Posts: 28,908

Sync,

So it's really just an advance on the $, rather than selling it.

05-23-2011 , 03:51 AM

#12

Drignatio

newbie

Join Date: May 2007 Posts: 37

For you guys who are saying it's worth $1... don't we have to consider the time value of money? Meaning even if you're certain we're getting paid out by FTP... that could still be months from now so having 99% of it now is still better than having 100% of it later.

So couldn't having $0.99 cents now be better than having the full dollar in like 3 months?.... I can take that $0.99 cents per dollar and use it to make more money (playing poker, stocks, bank accounts with decent interest, etc.) during the time I would have been waiting to get the $ from FTP.

05-23-2011 , 03:54 AM

#13

Drignatio

newbie

Join Date: May 2007 Posts: 37

Quote:

Originally Posted by udbrky

Sync,

So it's really just an advance on the $, rather than selling it.

It's not an advance, because if FTP doesn't cash out then I keep the money and I don't owe my friend anything.

05-23-2011 , 03:55 AM

#14

fraleyight

Carpal \'Tunnel

Join Date: Apr 2010 Posts: 13,384

if your being offered 99 cents on the dollar i would jump on that in a heartbeat.

05-23-2011 , 03:58 AM

#15

Kidsinister

banned

Join Date: Aug 2010 Posts: 805

I for one, do not believe having less money now, is better than having more money later. Although it should be noted, I also believe FTP will pay out eventually. If you really feel like you should/want to sell your FTP roll, I wouldn't take less than .95 on the dollar.

05-23-2011 , 04:01 AM

#16

Drignatio

newbie

Join Date: May 2007 Posts: 37

Quote:

Originally Posted by fraleyight

if your being offered 99 cents on the dollar i would jump on that in a heartbeat.

I'm not being offered that, it was just for my example for explaining the "time value of money."

I'm being offered $0.85 on the dollar.

05-23-2011 , 04:03 AM

#17

fraleyight

Carpal \'Tunnel

Join Date: Apr 2010 Posts: 13,384

i guess that would depend on how bad you need the money then. how big is your roll? maybe try just selling half if you need cash real bad.

05-23-2011 , 04:19 AM

#18

Do it Right

Pooh-Bah

Join Date: Jul 2010 Posts: 3,890

I think $.90-$.95 at most. I wouldn't be surprised if FTP delays paying out for months still and the missed value of what you could be doing with the money in the interim, be it investing it or playing higher/normal stakes, is a major cost.

05-23-2011 , 04:26 AM

#19

TurnRiva

journeyman

Join Date: Aug 2009 Posts: 377

Heard people buying between 90-95 and think you'd be shorting yourself money going under that. Variance tho

05-23-2011 , 04:49 AM

#20

Maso777

Carpal \'Tunnel

Join Date: Jun 2008 Posts: 6,962

This is probably a stupid question but how does the money from the American players poker account get transferred to the person who bought it?

05-23-2011 , 04:55 AM

#21

MrAggromonkey

old hand

Join Date: Nov 2009 Posts: 1,215

Quote:

Originally Posted by Maso777

This is probably a stupid question but how does the money from the American players poker account get transferred to the person who bought it?

no, that is not a stupid question
You can't transfer the money
I suppose you would have to have a promissory note with a payment of the Full Tilt balance to lender upon receipt from Full Tilt.

BTW, I wish someone would make me an offer on my balance.

05-23-2011 , 05:24 AM

#22

pimp_named_ak

adept

Join Date: Mar 2006 Posts: 997

My estimate would be .65-.7. It makes me feel a little better about my money to read the estimates in this thread.

05-23-2011 , 05:34 AM

#23

joshrocker

grinder

Join Date: Jan 2007 Posts: 483

Quote:

Originally Posted by Maso777

This is probably a stupid question but how does the money from the American players poker account get transferred to the person who bought it?

He says it's a "friend" in the OP. . . .so I'm assuming this is all based off of trust. I'd be real tentative about doing a trade with someone that I didn't know for FT funds (if you're the buyer obviously, as the seller doesn't carry to much risk).

05-23-2011 , 05:36 AM

#24

timtowdi

journeyman

Join Date: Oct 2005 Posts: 217

Quote:

Originally Posted by MrAggromonkey

I suppose you would have to have a promissory note with a payment of the Full Tilt balance to lender upon receipt from Full Tilt.

Has anyone successfully done this yet?

05-23-2011 , 05:59 AM

#25

Synergistic Explosions

Pooh-Bah

Join Date: Jun 2004 Posts: 4,170

If you sell for less than .95 you are getting the short end. I'd wait for May 30th and see what they are saying. If they are going to make everyone with over 5k send in ID for approval then that might delay your cash out and getting the money at .95 might make sense. If no ID is going to be asked for and there are no other delays to getting your cash out in a few days after the announcement, then just hold on for full value since you will be getting your money in early June.

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