Bovada does have great cash outs..... but zero rakeback. Lock may literally have the best rakeback in the world, and cashouts seem to be speeding up.

Positives:
Shane is an awesome employee, a great comedian, and gives detailed explanations whenever any problem arises (there aren't many).
Fair play which gives everybody a chance to win, and who doesn't want that!?
Slow cashouts isn't necessarily a problem. You see, they are just holding the money so they can be sure you don't blow your roll. They got so many emails about tilting off your roll they said we will just keep it when they click cashout for few months.
Also the owner of the site is well-liked, and known to be one of the most ethical business people out there.
They sign pros all the time who really help to promote the brand. They once signed a legend out of Portugal, but I can't think of his name atm.
Negatives: Can't really think of any.

hahaha, love em

How?

I buy at .5. I sell at .5. I don't care if Lock says I'm playing a $109. Might as well be a 109/2. As long as I buy and sell at nearly the same rate, I don't lose anything. The only opportunity cost is the lock $ not cashed out on for full value, but you have to wait ages for that.

I could simply buy, never play, cashout and get an instant 200% return. But I like actually playing poker

Wrong, you have to rake as much as you get transferred when you buy the funds afaik. Otherwise if I had a large sum online I would just transfer to all my family members who I set accounts up for knowing we were just cashing out through those accounts

No.. as i said: the money you PLAY for and WIN is still halved. Only the deposits versus withdrawals remain the same.

For example: you have 1000$ and buy 2000$ with it. If you stay at 2000$ and cash out later trading back to someone at 0.5 for 1000$, you broke even, and none of these cashout issues really affected you in any way. Now say you're a winning player and you've turned that 2000$ into 6000$. Now that remaining 4000$ has to be sold at a 2000$ loss.

edit: and yeah losing players can get more bang for their buck here on 2+2, breakeven players can make a profit making use of their "cashout times" simply buying and cashing out without selling at vig.

What do you mean "I have to rake as much as I get transferred"?

I buy 1k lock for $500. He transfers $1000 and that's it. Lock charges no fee for transfers. I then cashout 1k. 10 months later when I get my 1k, I have profited $500.

I just yesterday sold 6k lock to a guy doing exactly this.

@mccormick

Yes I acknowledge that. But the point is I don't really lose anything when I can buy it back at the same rate. All I lose is what I would have got from a cashout. But even then, if and when I want, I can buy back the entirety of loss (2k in your example) at the exact rate I sold it for, and then cash out and mitigate the entire loss.

Yes, the entire profit isn't immediately realized, but if I need the money now, I won't lose anything in the long run by selling as long as I buy at back and cashout. At the rate this site is going, the rate will be .4 within a month anyway.

Yeah.. i see your point. It's all fine if your total volume/profit on the site doesn't exceed what you can withdraw by far. Once it does exceed that limit by big amounts, you're starting to feel a significant loss overall though, especially if you really never have to buy any funds etc. but only have to sell/withdraw. Basically it's just really bad for big winning players and yeah anyone ranging from losing till small winner can make profit out of this overall.. you do have to be very patient, though.

ultimately while yes, you can keep selling off at 0.5 aswell as buy at 0.5, the real numbers / profit comes from those real cashouts though.

Im lost here, what do you guys mean by buy/sell lock funds for .5 for 1$?

Is there any realistic chance of Lock going under and me not getting my money? 3 months is a long time. At least the .5 is instant and secure.

Obv I should cashout at some point or I'd be forfeiting thousands (provided Lock is still around to cash me out). Just a little reassurance from the site would be nice, and it's been the complete opposite for the last few months now.

Alwaystilting, check the p2p thread.

You dont have to rake the playthrough amount, you have to bet it.

The playthrough is money wagered not rake taken.

Oh that's what he meant. So if I get 2k transferred, I have to have 2k in buy ins (mtt's and sng's) or bet a total of 2k in CG's, before I can withdraw?

If I tried to withdraw before this, what would happen?

They'd not process your payout untill you did, i guess.

They have no way to verify how much you did wager. This is just another excuse to cancel your cash outs.

What they do is:

#1 look where your money came from.
#2 check your rake compared to the amount. If they feel you didnt raked enough they will tell you that you need to wager it 1 time.

Even their stupid customer support did confirm me they have no way or system to know how much a player did wager.

This is just another scam excuse.

My apologies, but the point is still the same

Why is this thread not blocked yet?

Nothing positive about lock. just NOTHING!

It depends on your definition of positive. People do get paid eventually but it's just gonna take an average of 2-3 months. Maybe some people consider that a positive. I don't but I think that the 'Vault' is a positive over other sites. That's about it.

FYP