4.63 cents on The Dollar for Payouts from Gambling911.com - Poker News

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4.63 cents on The Dollar for Payouts from Gambling911.com

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07-08-2011 , 12:25 AM

TheShogun

banned

Join Date: Jun 2011 Posts: 96

http://www.gambling911.com/poker/ful...ar-070711.html

Just a new article in all this mess...

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07-08-2011 , 12:26 AM

TheShogun

banned

Join Date: Jun 2011 Posts: 96

I know it means nothing in general but still scares me everytime i get HOPE!

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07-08-2011 , 12:27 AM

MF Jeff

adept

Join Date: Dec 2008 Posts: 872

why not 3.50 cents?

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07-08-2011 , 12:29 AM

prodonkey

Carpal \'Tunnel

Join Date: Oct 2006 Posts: 14,597

4.63 cents on the Dollar or around 3 to 4 percent.

lol ty captain obvious

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07-08-2011 , 12:32 AM

Dr_Wonderful

veteran

Join Date: Aug 2005 Posts: 2,212

The checks were 4.63 cents on the Dollar or around 3 to 4 percent. OUCH!

One thing this whole debacle has taught me is that journalists just don't give a single F about what they write or publish. I honestly have rarely read newspaper, online, or magazine articles with a critical eye at all, but over the last few months I've stumbled across some complete garbage. People really are lazy and stupid.

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07-08-2011 , 12:54 AM

playertee

Pooh-Bah

Join Date: Jul 2010 Posts: 4,999

i think they mean 4.63%

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07-08-2011 , 01:00 AM

weaselgirl

adept

Join Date: Oct 2009 Posts: 1,014

Quote:

Originally Posted by prodonkey

4.63 cents on the Dollar or around 3 to 4 percent.

lol ty captain obvious

not sure if serious.jpg

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07-08-2011 , 02:02 AM

atthebottom77

old hand

Join Date: Apr 2011 Posts: 1,487

"The checks were 4.63 cents on the Dollar or around 3 to 4 percent. OUCH!"

if only there were a way to calculate that percentage. if only.

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07-08-2011 , 02:13 AM

adamsapple19

centurion

Join Date: Dec 2010 Posts: 100

Pretty lame for the author of this article to try to compare the FT situation to the Neteller situation or any other situations. FT will either be sold and we'll get our money back or someone will **** up the deal and we won't get our money back. This is a pretty unique situation imo.

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07-08-2011 , 02:27 AM

#10

pimp_named_ak

adept

Join Date: Mar 2006 Posts: 997

I guess Gambling 911 is staffed with fired Verizon CS reps.

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07-08-2011 , 02:32 AM

#11

randominternet2345

Guest

Posts: n/a

how can you take anyone serious who can't divide any number by 100.

hoping it was a typo and betonsports.com patrons received $.0363/1.00

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07-08-2011 , 02:33 AM

#12

ultramasherguru

journeyman

Join Date: Apr 2009 Posts: 223

this article is a mess.

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07-08-2011 , 02:46 AM

#13

F1racer

enthusiast

Join Date: Jun 2009 Posts: 61

This article is worth 4.63 cents on the dollar, that is... hummmm... 8 to 3 or 6 percent.

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07-08-2011 , 03:33 AM

#14

r8sUalln8

old hand

Join Date: Nov 2009 Posts: 1,203

Quote:

Originally Posted by ultramasherguru

this article is a mess.

that's not even an article!

cool avatar btw!

also, that line tilted me the most: "Unfortunately, they may have been better off not getting paid."

yes, because $4.63 is worse than $0.

they used the same math on their %-calculation.

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07-08-2011 , 04:55 AM

#15

0bscura

grinder

Join Date: Mar 2009 Posts: 419

Quote:

Originally Posted by MF Jeff

why not 3.50 cents?

Didn't you read the article? They paid out around 3 to 4% (bout tree fitty).

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07-08-2011 , 05:51 AM

#16

gothninja

Pooh-Bah

Join Date: Jun 2011 Posts: 4,425

Quote:

Originally Posted by playertee

i think they mean 4.63%

Can't be. If calculating percentages were that easy everyone could do it.

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07-08-2011 , 06:01 AM

#17

ANobleGent

centurion

Join Date: Jul 2011 Posts: 187

Terrible "article" but to be expected from Gambling911. I'm just amazed that people insist on using them as a source repeatedly on this forum.

Cordially,
ANobleGent

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07-08-2011 , 06:01 AM

#18

Phil9

old hand

Join Date: Aug 2004 Posts: 1,608

Quote:

Originally Posted by atthebottom77

"The checks were 4.63 cents on the Dollar or around 3 to 4 percent. OUCH!"

if only there were a way to calculate that percentage. if only.

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07-08-2011 , 07:53 AM

#19

bbfg

Carpal \'Tunnel

Join Date: Aug 2009 Posts: 12,264

At least now we know for sure the site is full of ****

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07-08-2011 , 02:37 PM

#20

post1958

centurion

Join Date: Nov 2006 Posts: 111

I got one of these checks. The wording in the attached letter was terrible - "representing the first and final distribution of 4.63 in the dollar in respect of your submitted and agreed upon claim in this matter".

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07-08-2011 , 02:55 PM

#21

song

newbie

Join Date: Jun 2011 Posts: 15

I'd rather lose (the little amount of my) money in full than get some ridiculously small payout only to watch the buyer eventually cash out the full amount later.

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07-08-2011 , 03:44 PM

#22

SNGplayer24

banned

Join Date: Mar 2007 Posts: 3,582

why do people even read that awful site? I do love how they compare FTP to bet on sports - nice try.

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07-08-2011 , 03:47 PM

#23

SGT RJ

Twitching

Join Date: Feb 2009 Posts: 49,109

Quote:

Originally Posted by atthebottom77

"The checks were 4.63 cents on the Dollar or around 3 to 4 percent. OUCH!"

if only there were a way to calculate that percentage. if only.

Pretty sure that sentence confirms for everyone what most of us already knew - this site is a ****ing joke and should never be linked to as a news source ever again.

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07-08-2011 , 03:49 PM

#24

Onetiem

banned

Join Date: Jun 2011 Posts: 51

Thats around 4.63 % of a dollar? so 4.63 cents if i did the math right

haha thats terribly low who would sell this low?

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07-08-2011 , 03:58 PM

#25

DeathAndTaxes

old hand

Join Date: Jun 2011 Posts: 1,456

Quote:

Originally Posted by song

I'd rather lose (the little amount of my) money in full than get some ridiculously small payout only to watch the buyer eventually cash out the full amount later.

What buyer? What full amount? What later?

The company is being liquidated; There is no more money. It had roughly a $1 in assets for every $20 in laibilities so all creditors (to include players) are getting pro-rated share of the companies assets. If it had $1 in assets for every $1 in liabilities everyone would be paid in full but it didn't hence a check for 4.63% of face value.

Last edited by DeathAndTaxes; 07-08-2011 at 04:14 PM.

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