if there were no limits, I could easily see 50+% of all balances leaving the first week. Everyone will want to take out all but a minimum working bankroll until they figure out if FT is going to make it, assuming they have any interest in playing on the new site at all. You can always put more back on later if you need to, but you may not be able to cash out again. From a cash-flow perspective, this could be disastrous. It's not like GBT ever got the $200mil of player balances to begin with - this is all money coming out of their pocket. And the thing with poker sites is that you need critical mass, and you would be letting captive customers walk for nothing.

I'm hoping I'm wrong and you guys get your money asap though. :-)

If funds do become available, I can see RoW players getting access to limited withdraws pretty quickly. However, being from the US, I'm not counting on seeing a dime anytime before December. Dealing with the DoJ is probably going to be a HUGE pain. But I guess beggers can't be choosers?

You kind of just agreed with me! People with lots of money on FT will keep a working bankroll, their withdrawals should have little effect on rake generated at FTP. FTP don't really or at least shouldn't really care how much $$$ is in the players account it's all about what rake is being generated. Most regs keep 30-50 buy ins online that means that most of the time roughly 50% of FTP player balances is just dormant $$$ it doesnt really need to be in FTP bank account. You can argue that if that 100mill is in an interest bearing account and funds are co-mingled then it has a cash flow and cash generating benefit to FTP but I would expect funds will be segregated this time round and any interest would be fairly negligible in the scheme of things.

I was under the impression the reason FTP lost their license in the first place was they didn't have enough cash on hand to cover 100% of balances. Won't they have to prove in the hearing in early May (forget exact date) that they have 100% of balances on hand in case everyone wants to cash out before they can get a license?

edit: that last sentence may be confusing, I wasn't referring to people cashing out before they can get a license, I was saying won't they have to prove they have 100% just in case people want to all cash their money out as a criteria for them getting the license in the first place.

I would assume 100% of funds on hand will be required, i think tapie will want to make it a segregated account too so he can build confidence

What keeping 30 to 50 buy ins online means 50% balances are dormant? What do you mean by dormant?

average number of tables played = 10-16
average downswing = 10 BI
required active bankroll = 20-26 buy ins
actual average bankroll kept online 30-50 buy ins => roughly 40-50% of a regs onsite bankroll is not being used on a regular basis => its not generating rake => it makes no difference to GBT if you withdraw all but the minimum working bankroll you need.

basically what I am saying is that a huge chunk of money in peoples account never gets used, its just there incase they hv some huge downswing or a huge fish sits at High stakes. GBT shouldnt care if people only keep a minimum working bankroll on the site as it generates almost exactly the same rake.

DoJ wont be handling the payout. It will be another government agency in Washington. So there's a possibility that remission process will be a lot quicker then DoJ's past dealing.

I have reasons to believe that majority of FTP1's balance will be locked. With added liquid from investors hopefully things have changed. It will be interesting to see what's said in agcc's public hearing.

Just out of curiosity, have you (or anyone ITT) thought about taking legal action? Seems pointless IMO but I've heard some people hired lawyers/etc.

simple question
i have something like $500 on FTP - US account.
is there anywhere i can log onto to see if the money is still under my account for potential withdrawal if anything gets worked out in the future?

Todd terry and a few others filing class actn suit v lederer, ferguson, and other ftp pros.

no

simple question
i have something like $3x,xxx on FTP - US account.
is there anywhere i can log onto to see if the money is still under my account for potential withdrawal if anything gets worked out in the future?

im like 99%+ sure that they will have that on record.

They shipped me all of your funds to save you time in the future when games become active again.

Just had this pm'd to me, any merit to this? http://forumserver.twoplustwo.com/29...s-ftp-1197424/

I think this is happening, but that's nothing more than speculation obviously.

GBT confirmed their deal is dead, looks like we are in for a sick sweat next few hours. Either this stars deal is real or we are not seeing our $$$


Sik plot twist

OP only has one post, how do we know that this is legitimate at all?

chilli poker ceo confirmed it via twitter, apparently he is well connected in the industry.
GBT confirmed their deal is dead due to sabotage.
Numerous independant sources have contacted NoahSD saying its is true

apparantly workers at FTP dubline offices have just confirmed deal with Stars, seriously this is starting to look totally legit. I think we just might be out of this saga.

hot diggity damn

Thanks. I'm just catching up on the thread now...holy **** that does seem legit.

Apparently Negreanu was confused by the news and unaware of the deal, but that doesn't really sway me in either direction.

I have a project due tomorrow... #****that****

lol more monkey business without an official word. one investor in, one investor out - rinse repeat.

Is there any actual statement from either GBT saying their end of the deal was dead or that stars is actually purchasing FTP? So far I cant find anything but more of the same speculation that has cluttered up all of NVG for the past year.

edit - NVM found the GBT statement that imo is horrible news. InB4 6 more months of "exclusive negotiations"

This is such sick news because it sounds like maybe Pokerstars is paying ROW + USA. We already know how that went last time (they paid accounts in full ASAP!!!). So sick for USA players that they could possibly avoid dealing with DOJ and partial payment. Hopefully nothing messes this up. Obviously some people didn't want to see a monopoly, who cares.

Pay the people!!!!!! We want Poker Stars!!! We want Poker Stars !!