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Old 01-20-2009, 01:42 PM   #1
frozzor
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Is Pokerstars money safe?

Pokerstars has their money in RBS right? it's down 72% today so...
fears it could go under...
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Old 01-20-2009, 01:47 PM   #2
earck
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Re: Is Pokerstars money safe?

Why don't you email them and ask?
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Old 01-20-2009, 01:51 PM   #3
kevstreet
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Re: Is Pokerstars money safe?

Anyone have more info on this?
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Old 01-20-2009, 01:53 PM   #4
earck
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Re: Is Pokerstars money safe?

I very highly doubt that even if the bank does fail that any money would be lost.
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Old 01-20-2009, 01:56 PM   #5
frozzor
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Re: Is Pokerstars money safe?

i'm sure if i email them and ask they will tell me to promptly withdraw all my money
lol...?
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Old 01-20-2009, 01:58 PM   #6
earck
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Re: Is Pokerstars money safe?

No but they can give you details on why your money is safe...
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Old 01-20-2009, 02:02 PM   #7
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Re: Is Pokerstars money safe?

RBS are having billions of Government money pumped into it and it is almost a nationalised bank now. As safe as any other frigging bank at the moment.
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Old 01-20-2009, 02:03 PM   #8
LetsGambool
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Re: Is Pokerstars money safe?

Stars is unlikely to have their money in RBOS anymore, its been discussed before

Also the equity is down because the UK government has put in more capital diluting shareholders. Its actually good news for account holders, as it affirms the UK government thinks the bank is "too big to fail"
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Old 01-20-2009, 02:04 PM   #9
questions
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Re: Is Pokerstars money safe?

Quote:
Originally Posted by Rek View Post
RBS are having billions of Government money pumped into it and it is almost a nationalised bank now. As safe as any other frigging bank at the moment.
Right, I saw that on the news yesterday. The only condition is that, unlike the bailout package in the US, they have to promise to lend it to consumers and businesses.
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Old 01-20-2009, 02:04 PM   #10
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Re: Is Pokerstars money safe?

The 72% drop is in the value of the company's shares, not the value of what it has in its 'vaults'.

Any problem is one of liquidity and a solution would inevitably be underwritten by the British government should the need arise.
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Old 01-20-2009, 02:15 PM   #11
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Re: Is Pokerstars money safe?

Quote:
Originally Posted by qpw View Post
The 72% drop is in the value of the company's shares, not the value of what it has in its 'vaults'.

Any problem is one of liquidity and a solution would inevitably be underwritten by the British government should the need arise.
The share price and cash reserves are directly related (or is that negatively correlated?), at least that was the case with US banks. Washington Mutual shares started to tumble as the reserves got dangerously low, then the bank was bought by Chase maybe a day before the US gvt had to intervene.

When a bank's shares drop 72% it's not a good sign.
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Old 01-20-2009, 02:19 PM   #12
Rek
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Re: Is Pokerstars money safe?

Quote:
Originally Posted by JasonInDallas View Post
When a bank's shares drop 72% it's not a good sign.
The price has fallen because they are posting the biggest loss in banking history but the Government intervention means RBS is safe.
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Old 01-20-2009, 02:21 PM   #13
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Re: Is Pokerstars money safe?

Quote:
When a bank's shares drop 72% it's not a good sign.
This.

Makes sense. See: Citigroup. Bank gets U.S. Govt. $. Stock rallies from 3 to almost 8.

Hurray. Oops, it's back to 3 and change again. Beware.
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Old 01-20-2009, 02:22 PM   #14
qpw
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Re: Is Pokerstars money safe?

Quote:
Originally Posted by JasonInDallas View Post
The share price and cash reserves are directly related (or is that negatively correlated?)
No, they are not.

There are various complex factors at work but it is absurdly simplistic and mathematical nonsense to claim correlation.

In any financial system there will, under extreme circumstances, come a point where normally unrelated factors start to interact.

In this instance there could be a 'tipping point' where hysterical investors start a run on the bank but that is a result of many factors, not just the bank's share price.

As I and other have pointed out, the British government will not allow RBS to fail.

If you are of a hysterical disposition, however, I'd suggest you take all your money out of any site you deal with (and any bank in which it is deposited) and hide it uner your matress.
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Old 01-20-2009, 02:23 PM   #15
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Re: Is Pokerstars money safe?

Quote:
Originally Posted by notfoold View Post
This.

Makes sense. See: Citigroup. Bank gets U.S. Govt. $. Stock rallies from 3 to almost 8.

Hurray. Oops, it's back to 3 and change again. Beware.
This has nothing to do with the money held by citibank. The government will not let it go under, the money there is safe.
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Old 01-20-2009, 02:37 PM   #16
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Re: Is Pokerstars money safe?

Pokerstars does not keep their money in RBS and has not kept their money with RBS for some time, so this thread is a bit irrelevant. I emailed them on this subject about a year or so ago and they said they kept their money with several top-tier European banks (not including RBS), but would not disclose which ones.
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Old 01-20-2009, 02:37 PM   #17
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Re: Is Pokerstars money safe?

I this it`s safe. They sure have an emergency pla.
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Old 01-20-2009, 02:53 PM   #18
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Re: Is Pokerstars money safe?

Quote:
Originally Posted by pianospike View Post
Pokerstars does not keep their money in RBS and has not kept their money with RBS for some time, so this thread is a bit irrelevant. I emailed them on this subject about a year or so ago and they said they kept their money with several top-tier European banks (not including RBS), but would not disclose which ones.
Interesting.

Given the rate that all G7 countries are having banking problems,

I wonder if the respective governments have signalled their intention to support the banks in which PS has money deposited in the same way that the British government has with RBS.

Maybe it is time to get worried.
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Old 01-20-2009, 04:03 PM   #19
JasonInDallas
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Re: Is Pokerstars money safe?

Quote:
Originally Posted by JasonInDallas View Post
The share price and cash reserves are directly related
Quote:
Originally Posted by qpw View Post
No, they are not.
Now you're just arguing to argue. Of course they are correlated. If a bank's cash reserves start to get perilously ow the shares will fall, if you want to argue otherwise you're either leveling or an idiot. However, I never said cash reserves were the only thing that influences stock price.
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Old 01-21-2009, 07:21 PM   #20
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Re: Is Pokerstars money safe?

Hello,

I want to make a point of clarification - there are currently no PokerStars funds held in RBS.

Host Jacob
PokerStars Support
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Old 01-22-2009, 01:01 AM   #21
sharkscopeaholic
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Re: Is Pokerstars money safe?

/thread
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Old 04-21-2011, 10:14 AM   #22
hundenapf
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Re: Is Pokerstars money safe?

how about these days? would you feel safe to deposit any money there now?
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Old 06-30-2011, 07:56 PM   #23
Rastamouse999
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So just how safe is it to leave funds on Pokerstars?

As titled.
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Old 06-30-2011, 07:58 PM   #24
thunder1276
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Re: So just how safe is it to leave funds on Pokerstars?

I think stars is safe, of course I thought that FTP was safe. I would leave just barely enough to play on there.
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Old 06-30-2011, 08:05 PM   #25
Lrgetrout
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Re: So just how safe is it to leave funds on Pokerstars?

Since you can play on Stars, you're in a place where moving money into the site if you go busto should be very easy.

So I'll concur with thunder's answer; leave just enough on the site to play your game, and put the rest in a bank account which you can transfer in to Stars if you go on a downswing.

I'd trust Stars more than most of the major US banks these days, but if the poker industry shuts down (which is what it would take for Stars to shut down at this point in my opinion), you'll have a minimum stuck in the site.
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