Quote:
Originally Posted by Max Cut
Is that a common practice in the industry for the case of credit card fraud?
Of course not. Highly unusual, but as "wrong" as that seems, it's their decision make. They are practically not bound by any law, so they do as they wish.
It's - to say the least - an interesting business decision on their side, but then again, i know how it feels when noobies give you advice on how to run things when they have never done anything in their lives.
I believe they are - in this case only - smart enough to know what they're doing. If it's a successful strategy, only the future will show.
U need to know one thing:
Payments are THE biggest cost in gambling.
(Marketing, depending on which sites competes for that position)
That's why Bitcoin and other cryptos have a great future (imo), because transactions are irreversable.
However, Chico's (Tigergaming/BOL) stance is quite rare at least in relation to what we would say are established standards in the business world.
Nobody else does this and i am pretty sure it's only enforced against winning players.
What players have to understand:
Whenever a fraud happens, somebody is going to pay for it. The cost of fraud is pushed in 99,99% of businesses into the price for all customers.
This means higher rake, less VIP points or other fees. Usually the whole population pays a little bit and that's just how life is.
People steal in supermarkets as well, that's why everybody pays 0,5% more or whatever the number is.
A real world analogy is:
Your government has a lot of debt and can't pay. Somebody will have to pay or you default (go broke).
You can either make everybody pay through Inflation. You can increase taxes and make the rich pay a bit more that way.
You can create a wealth tax (only the rich pay).
In the real world, typically a mix of all those measures happen and each of them has (often unintended) consequences.
What Chico does here is essentially moving the cost to the "rich" (those who win vs the credit card fraud guy). So the average player should be "happy" about this. However, GTO comes into play here, bc the average guy has less incentive to play more and become a winner...
Like in politics, you can argue back and forth whether that is "good", "fair" or whatever. It's a waste of time or has any of you ever convinced somebody else of your political view?
Hence, my advice is not to engage. I advise ACTION. This means, go where you are treated best. Vote with your money, with your feet. Don't be silly, complain, but keep playing there.
The reason the pokerstars protests are a big time fail and were doomed to fail before they started (altho i fully support the idea, just like i wish everybody could be rich!), is that people could simply vote with their feet and LEAVE.
Pokerstars knew they wouldn't. And likely they would even appreciate if certain players left.
If poker sites have a wealth tax (cash-out fees, or what Chico is doing now), the wealthy have to decide.
Hope that helped as quick summary.
(Funds of cheating players is another topic)