Ok, so things aren't DefCon 5 yet for EuroBanks and the Euro currency, but we ARE getting there if you notice the data (nvm Greece/Ireland, especially the rise in yields in Spain, Italy, and France). Zerohedge ftw.

Considering how 80% of us got burned on Full Tilt, making the market more skittish (but now, still stable and thriving), do you think an upcoming bankroll run on these sites will occur in the next year? Will withdrawal rates and deposit/withdrawal capital ratio increase?

I ask because confidence in the markets are important, because it can gauge mood and potential upcoming danger in currency devaluation. Granted, I dunno if this would affect poker sites because we know there would be some degenerates still seeing flops on 10 tables as the Enola Gay flies over.

But I pondered the question myself - to "stress test" if you will - what if a HUGE withdraw run on poker sites across Europe occurred in the span of 5-10 days after say, the Euro's value crashes (including Stars). What effect would it have on the industry, would it make the MSM news, British stock market effects, etc.

Do you feel SAFER having cash in an online bank account than in a French bank?

Depends if player funds are separate from operating funds. A run on stars should in theory have no direct impact on the business. Fewer players obviously would hurt the business but not the loss of player cash. So with the stars model it isn't can withstand a run better and is less likely to have a run.

If they are using player cash for other business, like a bank then you can have a problem. My suggestion is to keep you money on sites that keep it separate from there own.

The Euro won't crash it might fall further then it should but it won't crash. Its not the Thai Baht. Goods from Europe would become so cheap that US consumer and others around world would increase the demand for the Euro way to fast.

Unless European poker sites invested heavily in Greek or Italian stocks, I don't think the average player has much to worry about. I would think that most site owners spread their investments around, so it's not as if there's gonna be a string of bankrupt poker companies if/when the eurozone collapses. The site owners are less likely to be degens than the players, after all.

Scaremongering ITT.

After what happened with FTP, certainly you must be joking...right?


Also...

This



And...

This, just play on Stars. /thread

land of the free nailed it with his quotes

Ultimately, the sites will default just like sovereigns will. That or runaway inflation. Same effect, different form. I doubt there will be a run on the poker accounts due to concerns in the currency markets since usually by the time the general public realizes there's a currency risk it will be too late and cashing out won't make too much difference since the purchasing power will have been lost already.

good thing all the sites keep ur money in usd

I think all these sites need outside auditing by one of the big 4 accounting firms. The segregated account argument is even more difficult to understand as proven by MF Global over the past couple weeks.

Because the USD has proven to be SO stable over the last couple of years.

The lower the Defcon level the higher the threat, right?

So it shouldnt read: "Ok, so things aren't DefCon 5 yet". Maybe 1.

bahaha, why don't you ask the people who had their funds at MF Global in "segregated" accounts or the people at FT who had their funds segregated. Bottom line is that in the global banking and government debt ponzi, you never know for certain. You guys think gold is 1800 an ounce for no reason? I love all the people just soaking it up and saying how safe their money is. What makes you think you know more than the last chump who got swindled by a banker and lost money in a ponzi or banking crisis? you think the marks DIDNT think it was safe until it was too late? L O L.

yes

Are you suggesting that poker players throughout europe, almost all of which are low stakes players, are going to use their poker bankrolls to become currency speculators?

Thinly veiled swipes ITT that euros can still play pokers online..

I'm not an expert in economics, but if the Euro is about to crash, would it not be a good idea for European players to make mass deposits on to Stars, since the balance is held in dollars?

Even if the Euro did crash, why would this mean that players start withdrawing all their cash?

Deposits on stars don't have to be held in US Dollars.. Mine is held in GBP and transferred to US dollars and back to GBP as and when I join/leave a table. They don't charge a transaction fee unless they suspect you of using the facility for currency trading.

Switzerland ftw.