I asked Tom Elllsworth, A Business End Boss, to do a study on Full Tilt Poker. He said he would but many months went by so i thought he forgot about it. I am happy to see that he went through with it. The purpose of this is to show that greed can ruin a business. He kept it simple and straight forward.

https://www.youtube.com/watch?v=WcJSEgjwVyE&t=28s



-Truetellher

He notes that FullTilt at near peak had 28,000 players. What does that mean?

Does it mean peak number of players playing at any moment or total accounts playing regularly?

Good video, well done. But really just a history lesson on Full tilt poker

Im a little surprised - there are some major and some minor factual mistakes.

Most importantly, his central theme seems to be that the US gov't shut down FTP because it was a ponzi scheme, when that turned out only to be a side effect that was discovered after they were shut down.

amaya the white knight!

three cheers!

The story I have heard is that the government was content to ignore the UIGEA but once they learned there was a Ponzi Scheme going on, they couldn't ignore it anymore, and shut it all down. This story contributes to the narrative that Full Tilt blew it for everyone, as one bad actor got all the good sites shut down. Anyone have any more info on if this is true or false?

They only found out the money wasn't there when FTP couldn't pay out US players, which was a few weeks after black Friday.

As the above person said and I'm sure more will follow, you heard wrong.

The US also didn't shutdown FTP. In the chaos that was Black Friday, they had initially said they weren't going to close their doors to the US, unlike Stars. This was reversed very soon after. Had they not been a ponzi scheme and actually had money on hand, they could've stayed open if they wanted to go against the DOJ...as it seemed like they wanted to do.

edit: they ("the government") also didn't "ignore the UIGEA". There were many many seizures of money from 3rd party processors prior to the one that produced a rat that made BF possible.

I'm not familiar with the presenter or the channel, but I thought the presentation was awful... loaded with mistakes, inaccuracies, and uninformed editorializing. Dozens (at least) of forum posters could have done a better job.

A what now?

Like Elon Musk or Andrew Carnegie. You know.

I'd give this a B for someone in "Intro to Business for Gender Studies students."

"Amaya Gaming saved the day."

lmao

Dont watch this...he has no clue.

not so good of a video.

+1 to both of you. Finally got around to watching the video, which meant I soon found myself talking to my screen.

This one started out promising but I knew we were in for a ride when he referred to a certain October 2006 legislation as the "Unlawful Online Gaming Act," then described it as Congress saying "online gaming is not necessarily illegal, but there are legal and illegal ways to do it." The entire video seemed to teeter right on that same edge of you're-kind-of-on-it-but-not-really level of accuracy.

I subscribe to many "educational" channels on YouTube (e.g. Today I Found Out, TED-Ed, ColdFusion, Veritasium plus several of John Green's army of channels). Valuetainment isn't one of my subs, although looking at the other content, it would thematically fit right in with the others.

Whenever any of these channels goes into a subject that I happen to know very well, I'm always pleasantly surprised when they get things right, but amused/annoyed when they get things wrong. For example, SciShow, one of the Green Brothers empire of channels, once cited my one of my friends' research. I shared the video with him, only to learn that they painfully misunderstood the science behind his study.

Anyway, that's a long way of saying that I take everything I consume on the internet with a good-sized chunk of salt. This Full Tilt history lesson is yet another reminder as to why.