Microgaming poker scandal: licensee in liquidation, and poker players abandoned and owed $5.3M - Page 59 - Poker News

benandjerry · 01-10-2012, 08:22 AM

Only seems to have happend something on the tusk front recently. No recent news on the eurolinx debacle I guess?

Viscount · 01-10-2012, 12:03 PM

On the SJ currency issue, it's almost certainly because they learnt the lessons of this (which happened at Ladbrokes) and didn't want to get stung in the same way - story from The Camel's blog (http://camelpoker.blogspot.com)

Quote:

Back in the early days of internet poker one site was the place for action.

The $25-50 PLO games were legendary, with fortunes being won and lost daily.

And of course where there was action, there were Scandies, gambling it up with the best of them.

Sadly those days are long gone.

That site's poker action is a thing of the dim and distant past.

But something strange happened, and no-one at the bookmakers HQ could understand it.

A group of the Scandie player left huge amounts on deposit even though there was never any games for them to play and they were heavily limited in their potential to bet on sports.

Rumour has it that 7 players left over £1,000,000 each in their accounts.

Had they simply got so much money that they had forgotten about it?

Oh no.

For five long years these guys exploited a loophole that the bookie was too stupid to notice.

If you want to bet in the bookmakers sportsbook you do so in sterling, if you want to play poker it's in dollars.

This site set their exchange rate for the day at 8am.

If during the previous day the pound had strengthened against the dollar the Scandies would transfer their entire roll from the sportsbook to the poker room at 7.45am.

At 8.15, they would transfer back at the new rate.

If the pound had gone up as little as 0.2%, that's £2000 profit on £1million for half an hour.

If we can guess that the pound went up roughly 50% of individual days by an average of 0.05% that is a risk free profit of £456,250 each over the 5 years.

Not bad work if you can get it!

If only they were as generous with their real punters...

Baglady · 01-19-2012, 07:36 AM

Hey guys, our 4th birthday is looming - shall we have a party?

Robin_Ripper · 02-06-2012, 07:16 PM

bump

Black winter day · 03-14-2012, 08:04 PM

Bump

FlyingDutchman · 04-11-2012, 06:42 AM

Quote:

Originally Posted by FlyingDutchman

Are you really a Unibet representative?

I waited over a year before I contacted my lawyer in my case against you and still you claim Unibet is keen to sort out players' financial situations?

Ref Accountnr.: 9458764 – 2009-00340

Please explain why you give me so much crap over a problem that couldn't even exist at any other pokerroom.

Bump.

Still not solved (post is 3 years old).
unibet are thieves!!!!!

fishfather · 04-11-2012, 12:57 PM

The only way for us to receive restitution is for there to be a general boycott of Microgaming both on the part of current players and by those who currently take advertising dollars from Microgaming. I have tried to get players to do a boycott of Microgaming but have failed. Perhaps a plea to those who take advertising dollars from Microgaming would work.

What is clear is that Microgaming should pay back the players who were scammed out of the 5 million. What is clear is that online players should unite and use the great amount of leverage that they have to demand that players' funds be kept segregated and safe. Why we as players are unable to accomplish this simple feat is beyond me.

Black winter day · 04-11-2012, 06:45 PM

Noone is going to do anything about it. Every player i told this about had a similar response, it was either

A) i am playing on a safe skin and this cant happen to me
B) if everyone would boycott the network, i would do it too, but just me stopping wouldnt benefit anyone, except hurting my bottom line by losing soft games

I can sure use those 15k now, but i basically lost all hope long time ago and would glad sell this for 1% if anyone is willing to buy, but i guess the percentage of getting our money back is close to 0.

WhateverSon · 04-11-2012, 07:03 PM

ugh wtf is this thread? can I play safetly on microgaming now or wat

Black winter day · 04-11-2012, 07:18 PM

Quote:

Originally Posted by WhateverSon

ugh wtf is this thread? can I play safetly on microgaming now or wat

No. Your money is in danger of being stolen and never returned as already happened to thousands of players.

WhateverSon · 04-11-2012, 08:11 PM

how? im so confused

no point in depositing there then...?

ThaDicey1 · 04-11-2012, 08:20 PM

meh I have profited around 100k on Unibet/Ladbrokes in the last year and cashed it all out with no problems...

WhateverSon · 04-11-2012, 08:26 PM

Quote:

Originally Posted by ThaDicey1

meh I have profited around 100k on Unibet/Ladbrokes in the last year and cashed it all out with no problems...

true story?

cuz I aint gonna go play there for nothing

pokerman22 · 04-11-2012, 09:12 PM

Quote:

Originally Posted by WhateverSon

true story?

cuz I aint gonna go play there for nothing

some microgaming skins such as ladbrokes are probably safer than any other online poker site in the world. Just dont sign up onto a small microgaming skin.

Sciolist · 04-12-2012, 04:11 AM

Quote:

Originally Posted by WhateverSon

how? im so confused

no point in depositing there then...?

Maybe you should read the damn thread