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Old 02-11-2017, 06:34 AM   #1
GlobalPokerCSadmin
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GlobalPoker explained

Hi guys. This took a little longer to get together. But here is a FAQ document that should answer a lot of the valid questions you members here at the forum has.

Global Poker Sweepstakes

Frequently Asked Questions (FAQ)

So, who is Global Poker?


Global Poker is developed, owned and operated by VGW Holdings Limited. VGW is a public company incorporated in Australia in 2010. VGW first developed and launched “Chumba Casino”, a leading social casino, offering our unique sweepstakes cash prizes available on both Facebook and at chumbacasino.com.

Global Poker aims to be a leading poker room bringing fun and excitement to poker players globally. Our initial focus is on the US, “the home of Poker” and Canada, but intend to expand globally very soon, making Global Poker truly Global!

Is Global Poker the only gaming company to use sweepstakes prizes?

No, gaming companies offering sweepstakes with prizes is nothing new. There have been, and still are, many gaming companies offering sweepstakes with prizes. Pureplay Poker (www.pureplay.com) is an example of another sweepstakes poker model.

Is my money safe with Global Poker? Many poker players remember what happened when Full Tilt froze their cash balances. What comfort can Global Poker give that this is not going to happen?

Global Poker is owned and operated by VGW Holdings Limited, a public company in Australia with obligations to operate at the highest financial and consumer protections standards.
As an Australian public company we are obliged to comply with all rules and regulations INCLUDING the protection of player sweeps and gold coins balances at any time. This is the
same as maintaining “segregated funds” for traditional online poker rooms.

What are “Sweepstakes”?

Sweepstakes are trade promotions with prizes. They promote additional sales through prize giveaways and have been used for decades, worldwide.

How does Global Poker’s Sweepstakes model work?

Global Poker sells virtual currency (Gold Coins). Our Gold Coins can be used to enter and play a range of different poker games and tournaments, against other players with Gold Coins. Any winnings from play with Gold Coins will be credited to the player’s balance, however, gold coin winnings can never be cashed out.

To promote the sale of Gold Coins, we give away Sweepstakes, uniquely represented as a virtual currency (Sweeps Cash). Sweeps Cash can be used for play in our poker room, against other players with Sweeps Cash, until winnings are withdrawn via PayPal as real cash prizes.

Isn’t this just a loophole for gambling?

No. We have created a new business model: virtual currency (social) gaming combined with real cash prizes.

It is definitively categorised as not gambling in the US, Canada, and many other countries worldwide, as proven by the high-profile companies that have conducted their own due diligence on Global Poker’s Sweepstakes model, including PayPal, (Facebook) and others.

What other companies use sweepstakes?

Many companies worldwide use sweepstakes to promote and sell their products.
Sweepstakes promotions have been running for decades in the US and other countries around the world.

Publishers Clearing House (PCH) Reader’s Digest sweepstakes, McDonalds’ Monopoly millionaire sweepstakes, Pepsi’s Billion Dollar Sweepstakes and Proctor & Gamble’s sweepstakes are some of the more widely known, and often global, promotions.

Reader’s Digest has a sweepstakes focused business model that sells physical goods, rather than the digital goods that Global Poker sells. PCH has been operating this business model, and their global Readers Digest sweepstakes lottery, since 1967.

Who has done the legal due diligence on this model? Which companies does VGW operate the sweepstakes model in partnership with?

Significant, high-profile companies including Facebook, PayPal, and Worldpay have all performed in-depth analysis and full legal due diligence of Global Poker’s sweepstake model.

These are multi-billion dollar technology companies and payment processors in the US that do not allow gambling companies and their offerings on their platforms.

Each of these companies have conducted months of due diligence, reviewing our counsel’s opinion and challenging the business model and product.

Global Poker has successfully passed each legal review and continues to operate its unique social sweepstakes gaming model in partnership with each of these companies.

What is the risk laws will just change?

Low. Sweepstakes regulation in the US is on a state-by-state basis, so laws in 50 states would need to change.

Furthermore, since Sweepstakes trade promotions are offered by a large number of brands and companies, including many multinationals, any regulatory change would have broad consequences and likely be challenged.

Regulatory change over the long term is likely, and in time VGW expects a similar journey to other technology companies that have created disruptive new business models, like DraftKings and Fanduel (Daily Fantasy Sports), AirBnB (accommodation) and Uber (transport).

Who is Global Poker’s expert counsel on US sweepstakes law?

Adam Solomon of Michelman & Robinson LLP, a US lawyer specialising in sweepstakes law.

Adam is the Vice Chairman of the American Bar Association’s Committee on Promotion & Marketing Law, and a member of the American Bar Association’s Consumer Protection Committee. He has been named as a Notable Practitioner by Chambers USA in the area of Advertising: Transactional & Regulatory, citing "deep knowledge and understanding of all issues involved with advertising, including direct marketing, promotions marketing, sweepstakes and contest law”.

Global Poker also engages other specialist counsel in the US and around the world to strengthen its panel of global legal advisors, including Kevin De Haan QC, one of the world’s premier gaming law specialists. According to Chambers:

An internationally acknowledged expert in all aspects of e-commerce regulation, Kevin has been closely involved in the development of the online gambling industry from its inception in the 1990s to the present day, having advised most of the major (and many of the smaller) operators at some stage. He drafted the Gibraltar Gambling Act and advised on regulatory aspects arising from the floatation of offshore online gambling operators on the London stock markets. He is an expert on the law relating to all types of gambling, both land-based and remote.

So why can't other poker companies implement the same Sweepstakes model?

Our Patent: Global Poker has a comprehensive Patent Protection Pending on this unique business model. Global Poker’s parent company, VGW, invented it and currently being the only one to operate it.

Regulatory & Partner risks: Our competitors, particularly those with regulated gambling businesses, are generally reluctant to explore innovative models that are not considered “mainstream”. This extends to key marketing, distribution and payment processing partners (like Facebook and PayPal), who competitors would need to satisfy as to the legitimacy of their business model, a process which has taken Global Poker several years.

Technology & Operations: The technology required to operate a real money sweepstakes prize platform is very different to that of a virtual currency only game, requiring far more robust, secure and thorough gameplay and reporting functionality. Operations supporting real prize gaming are also very different to games companies, as the payments, fraud and customer service profiles are very different.

Can Global Poker’s Sweepstakes model apply to other gaming products?

Yes, it can apply to any game of chance: all casino games, sports gaming and lottery. Our Patent Pending applies to any and all such variations of the model.


See you at the tables at Global Poker !

Global Poker - making poker great again!
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Old 02-11-2017, 09:32 AM   #2
ZeckoRiver
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Re: GlobalPoker explained

Im just confused in one portion where it is stated that the only company to try this model is global and it has a patent. I understand the sweepstakes process as I have played on many a subscription theme poker site. Why have other companies not used your model specifically with ring games. All the sub sites I have played on only had mtts. Not one offered ring games that were actually raked. I believe this is the most concerning point in your model that we would like explained.

I understand that ring games are exchanged for gold coins premise. Not one site that was subscription based could offer actual ring games and you are raking the ring games. Thank you for your detailed response it is good to know that the player funds are segregated you seem like a legitimate company that has done its research , just seems too good to be true and simple leading us to wonder why it could have not been implemented previously.
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Old 02-11-2017, 10:07 AM   #3
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Re: GlobalPoker explained

Seals with clubs did something similar by using bitcoins and therefore believing they had a new model until they where in for a rude awakening by the nevada gaming commission . Not saying that is going to happen here but US players are a wary bunch because we have been thru this many a time before. I hope the model is sustainable, one can only hope. Swc went to .eu, you guys are right in the government sights. If you become big could face consequences then.
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Old 02-11-2017, 11:19 AM   #4
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Re: GlobalPoker explained

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Originally Posted by ZeckoRiver View Post
I understand that ring games are exchanged for gold coins premise. Not one site that was subscription based could offer actual ring games and you are raking the ring games. Thank you for your detailed response it is good to know that the player funds are segregated you seem like a legitimate company that has done its research , just seems too good to be true and simple leading us to wonder why it could have not been implemented previously.
I don't play on subscription sites, but as I understand it they operate on a model where players pay a subcription fee in order to access freerolls, so no one ever has an account balance and therefore cash games are impossible.
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Old 02-11-2017, 12:57 PM   #5
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Re: GlobalPoker explained

That adds a great deal of information, but I don't see that you are not publicly traded. You did a raise via private placement last December but there is no public financials nor stock quote available for you. You've raised $16 million for the company since 2010, seems like an awfully large amount of money for a small operation. Escalante and Blythe-Tinker certainly have a decent background for this, so hope it takes off.

The patent is really window dressing. It doesn't prevent anyone from creating the same end result via a different path. Since it is not the norm, 'sweepstakes' type of function, other sites will be very hesitant to change what they are already doing. It will likely attract some new companies, but the big poker networks already are operating fully.

It seems like the idea is very similar to the WPT online poker model.
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Old 02-11-2017, 05:11 PM   #6
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Re: GlobalPoker explained

Quote:
Originally Posted by ZeckoRiver View Post
Im just confused in one portion where it is stated that the only company to try this model is global and it has a patent. I understand the sweepstakes process as I have played on many a subscription theme poker site.
Sweepstakes != subscription.

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Originally Posted by ZeckoRiver View Post
I believe this is the most concerning point in your model that we would like explained.
Well, you, anyway.
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Old 02-11-2017, 05:44 PM   #7
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Re: GlobalPoker explained

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Originally Posted by a dewd View Post
.....You've raised $16 million for the company since 2010, seems like an awfully large amount of money for a small operation
Which is good since it shows that the people that gave them the money have a lot of faith in the future of the company and the people running it. Money talks B/S walks. The money is irretrievably in the bag. These professional backers expect a return on their investment. I would trust their judgment more than that of a few amateurs wanne be poker players who have no legal experience regarding the subject matter with respect to the sweepstakes model or Paypal policy regarding this type of site.

Now I understand how they can have a 10k freeroll so soon after opening the site. They can afford many more and all the overlay tournyes that present very good value.
By the way if they had not paid out on the 10k it would have all over the place.

Has anybody heard a "midtern scam" being able to raise 16 million?
Use common sense.

Last edited by wwwin; 02-11-2017 at 06:03 PM.
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Old 02-11-2017, 10:15 PM   #8
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Re: GlobalPoker explained

Quote:
Originally Posted by ZeckoRiver View Post
Im just confused in one portion where it is stated that the only company to try this model is global and it has a patent. I understand the sweepstakes process as I have played on many a subscription theme poker site. Why have other companies not used your model specifically with ring games. All the sub sites I have played on only had mtts. Not one offered ring games that were actually raked. I believe this is the most concerning point in your model that we would like explained.

I understand that ring games are exchanged for gold coins premise. Not one site that was subscription based could offer actual ring games and you are raking the ring games. Thank you for your detailed response it is good to know that the player funds are segregated you seem like a legitimate company that has done its research , just seems too good to be true and simple leading us to wonder why it could have not been implemented previously.
Just to clarify this part a bit more.

How can Global Poker offer raked ring games for sweepstakes cash prizes and other sites do not?

In short, each pot in a ring game is its own individual sweepstakes.
Other sites operate sweepstakes gamesas a tournament, but none have ever used the concept of sweepstakes represented as a virtual currency, used to promote/sell another virtual currency (Gold Coins).
When sweepstakes are represented and played in this way, players can join ring games and enter each sweepstakes as a pot in a single ring game. This model is not possible unless sweepstakes entries can be represented, accumulated and claimed (ie. cashed out) in this fashion. This model and process is part of VGWĺs patent pending.
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Old 02-12-2017, 02:00 AM   #9
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Re: GlobalPoker explained

Its hard to wrap my head on the concept but if they say they have a top sweepstakes lawyer advising them on this, who am I to challenge it.
The worst that can happen is that some State, like NV, challenge the concept as form over substance. Then if they lose that argument they can still continue to operate if they then say won't be able to take players from that state.
For a player there is little risk since they appear to be legit and well funded.
So I am going to enjoy playing there. No worries.
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Old 02-12-2017, 02:19 AM   #10
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Re: GlobalPoker explained

And that Chumba Casino has been operating under the sweepstakes theory for quite a while and the slots there are games chance not skill.
Chumba's deposit and withdrawals are handled the same way thru Paypal.
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Old 02-12-2017, 03:14 PM   #11
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Re: GlobalPoker explained

16MM is a lot of money to raise for such a small company. As one of the evil hedge fund guys, it seems to be overkill, especially when you take into account they did not pay to develop the software. No clue what other business they conduct since it appears to be a private company.

They pay out immediately, no issues, and that is the most important thing for me. I like the software and the feel of the games there. Wish them the best and hope the states mind their own damn business and that is attending to the needs of the impoverished and not how I choose to spend my own, already taxed, money.
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Old 02-12-2017, 05:22 PM   #12
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Re: GlobalPoker explained

So to be clear, is the real money equivalent of "Sweeps cash" kept segregated at all times? For example, if the sum of all the account's "Sweeps cash" is equal to one million dollars, is the real money equivalent available and segregated at all times?
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Old 02-13-2017, 12:23 AM   #13
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Re: GlobalPoker explained

No answers on the PayPal issue though....
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Old 02-13-2017, 12:28 AM   #14
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Re: GlobalPoker explained

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No answers on the PayPal issue though....
There is no PayPal issue. It's working fine.

Significant, high-profile companies including Facebook, PayPal, and Worldpay have all performed in-depth analysis and full legal due diligence of Global Poker’s sweepstake model.

These are multi-billion dollar technology companies and payment processors in the US that do not allow gambling companies and their offerings on their platforms.

Each of these companies have conducted months of due diligence, reviewing our counsel’s opinion and challenging the business model and product.

Global Poker has successfully passed each legal review and continues to operate its unique social sweepstakes gaming model in partnership with each of these companies.

Are you guys even reading what they posted or are just trying to cause trouble.

Last edited by wwwin; 02-13-2017 at 12:50 AM.
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Old 02-13-2017, 08:32 AM   #15
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Re: GlobalPoker explained

Personally, won't be playing here until bitcoin could be used for dep and w/d. Not interested in having my PayPal acc closed from their stupid message, or having the payment reversed. And many credible players surely believe the same.
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Old 02-13-2017, 10:38 AM   #16
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Re: GlobalPoker explained

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Personally, won't be playing here until bitcoin could be used for dep and w/d. Not interested in having my PayPal acc closed from their stupid message, or having the payment reversed. And many credible players surely believe the same.
That is your prerogative. Mine is the opposite. I have contactrd PayPal and they informed that if they offer PayPal it is fine to use it. They also said that if later they are changed to gambling site that they would be not to reverse payment. They said that the user account would not be closed only would close the merchant aacount.

Is there a link to where PP closed a user acct for sending money to Chumba which has been operating at least 2 years. This PP thing is paranoia. Lets see some proof.
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Old 05-22-2017, 08:05 AM   #17
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Re: GlobalPoker explained

Just started playing at global poker but how do I change gold coins to sweeps cash ?
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Old 05-22-2017, 10:24 PM   #18
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Re: GlobalPoker explained

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Just started playing at global poker but how do I change gold coins to sweeps cash ?
The gold coins and sweeps cash aren't interchangeable. If you mean how do you switch between gold coins and sweeps cash games, there are buttons to switch between the two in the lobby, upper right corner right below your balance and the buy gold coins button.
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Old 05-30-2017, 09:36 AM   #19
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Re: GlobalPoker explained

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Originally Posted by wwwin View Post
Which is good since it shows that the people that gave them the money have a lot of faith in the future of the company and the people running it. Money talks B/S walks. The money is irretrievably in the bag. These professional backers expect a return on their investment. I would trust their judgment more than that of a few amateurs wanne be poker players who have no legal experience regarding the subject matter with respect to the sweepstakes model or Paypal policy regarding this type of site.

Now I understand how they can have a 10k freeroll so soon after opening the site. They can afford many more and all the overlay tournyes that present very good value.
By the way if they had not paid out on the 10k it would have all over the place.

Has anybody heard a "midtern scam" being able to raise 16 million?
Use common sense.
Bernie Maddoff raised billions with his scam 16 million is a drop in the bucket
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Old 06-04-2017, 06:14 PM   #20
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Re: GlobalPoker explained

Do you sell gold coins for sweeps cash or? Then if you do, you can cash out or play cash games?
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Old 06-04-2017, 06:56 PM   #21
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Re: GlobalPoker explained

RNG certification?
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Old 06-05-2017, 12:22 AM   #22
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Re: GlobalPoker explained

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Originally Posted by Derp! View Post
RNG certification?
Below is posted from the thread dedicated to this topic.

The issue is done to death so any posts in here will be moved to the other thread/deleted so that this is not derailed away from other questions that customers may have.

Quote:
Originally Posted by GlobalPokerCSadmin View Post
Hello all,

I hope you are enjoying your weekend. I would like to confirm the following for you:

The RNG used by Global Poker utilises a Mersenne Twister with background cycling. This was certified by iTechLabs on 15 February 2017 who confirmed that it uses a well known algorithm to generate random numbers. The numbers generated by this RNG have passed Marsaglia's "diehard" tests for statistical randomness. iTech Labs has found that number sequences are unpredictable, non-repeatable and uniformly distributed.

If you would like more information on the Mersenne Twister please click here.

If you would like some more information on iTech Labs then please click here.

We have listened to the feedback you have provided and are currently working on an FAQ page for our website to ensure that information like this is more easily accessible in the future.

We are very proud of our site and the enjoyment that it brings to the thousands of players who play there every single day.

Thank you all for your passionate discussion about Global Poker and we look forward to seeing you at the tables!
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Old 06-05-2017, 11:01 AM   #23
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Re: GlobalPoker explained

Quote:
Originally Posted by GlobalPokerCSadmin View Post
Below is posted from the thread dedicated to this topic.

The issue is done to death so any posts in here will be moved to the other thread/deleted so that this is not derailed away from other questions that customers may have.
Such a joke of a company. Claim you are working on getting the RNG certified last week and suddenly it's been certified for 4 months. Not buying it.
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Old 06-05-2017, 12:12 PM   #24
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Re: GlobalPoker explained

Quote:
Originally Posted by GlobalPokerCSadmin View Post
Below is posted from the thread dedicated to this topic.

The issue is done to death so any posts in here will be moved to the other thread/deleted so that this is not derailed away from other questions that customers may have.
I did not realize this had been answered in previous threads. Thanks for the info!
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Old 06-06-2017, 04:10 PM   #25
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Re: GlobalPoker explained

so gold coinshave zero value?
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