FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP) - Page 1340 - Poker News

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FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP)

View Poll Results: Do you want the AGCC to regulate the new FTP?

Yes

1,156 56.58%

887 43.42%

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07-15-2012 , 08:49 PM

#33476

Bene Gesserit

Carpal \'Tunnel

Join Date: Jul 2011 Posts: 6,365

After all this I am looking forward to another round of "Ponzi Scheme" "No it wasn't" "Yes it was" to clear the air.

07-15-2012 , 08:57 PM

#33477

Stosh

old hand

Join Date: Nov 2004 Posts: 1,254

Quote:

Originally Posted by DavidNB

lol.

lets all get back on topic. Isn t Monday the day new news is suspose to come out? By Monday night its delayed untill Tuesday so the lawyers can finish writing it up. Then on Wednesday its quote and link other poker news sites. Thursday is lets see if anyone can confrim it. Well that only leaves Friday which is new member 1st post day.

Accurate.

07-15-2012 , 08:58 PM

#33478

Bubbleblower

grinder

Join Date: Oct 2008 Posts: 696

Quote:

Originally Posted by TheDarkElf

What does that mean? What money gets taken out of the rake?

Before even bother doing the calculations, can you please define the terms you use?

In simple English please.

Net winnings to get to the net rake.

Gross rake
minus net winnings
equals net rake.

Quote:

Originally Posted by DoTheMath

I have told you why the estimates are unreliable.

No, you were rambling on something else and still haven't said one word about the actual subject.
Have you considered a carreer in politics?

07-15-2012 , 09:06 PM

#33479

Braindead2000

journeyman

Join Date: Jun 2011 Posts: 384

If there is one word that has lost all its meaning it's "deadline".
AGCC deadlines, GBT deadlines, PS deadlines. What's the deadline of all these deadlines?

07-15-2012 , 09:21 PM

#33480

Ditch Digger

Carpal \'Tunnel

Join Date: Jan 2006 Posts: 9,989

Quote:

Originally Posted by Braindead2000

If there is one word that has lost all its meaning it's "deadline".
AGCC deadlines, GBT deadlines, PS deadlines. What's the deadline of all these deadlines?

Dec 21st

07-15-2012 , 09:29 PM

#33481

waq

veteran

Join Date: Mar 2007 Posts: 2,700

Quote:

Originally Posted by Bene Gesserit

After all this I am looking forward to another round of "Ponzi Scheme" "No it wasn't" "Yes it was" to clear the air.

Please let us know what the correct answer is. I will accept whatever you say.

07-15-2012 , 09:34 PM

#33482

TheDarkElf

veteran

Join Date: Nov 2010 Posts: 2,667

Quote:

Originally Posted by Bubbleblower

Net winnings to get to the net rake.

Gross rake
minus net winnings
equals net rake.

Seriously, what in God's name are you talking about?

What is the difference between gross rake and net rake?

Can you give an example with actual numbers in it?

07-15-2012 , 10:32 PM

#33483

DoTheMath

Pooh-Bah

Join Date: Jul 2006 Posts: 4,689

Quote:

Originally Posted by Bubbleblower

Net winnings to get to the net rake.

Gross rake
minus net winnings
equals net rake.

Quote:

Originally Posted by Bubbleblower

No, you were rambling on something else and still haven't said one word about the actual subject.
Have you considered a carreer in politics?

Yes, but I decided it would be even more of a waste of time than responding to your posts.

I now presume that your career is headquartered under a bridge in Scandinavia. I'll not be coming your way again any time soon.

07-15-2012 , 10:41 PM

#33484

Howard Beale

Formerly red

Join Date: Sep 2005 Posts: 22,190

Sarge: Can I start a poll titled 'Worst poster in the FTP thread' please?

Last edited by Howard Beale; 07-15-2012 at 10:42 PM. Reason: Only allows for 10 choices, won't be so bad.

07-15-2012 , 10:55 PM

#33485

Bubbleblower

grinder

Join Date: Oct 2008 Posts: 696

Quote:

Originally Posted by TheDarkElf

Seriously, what in God's name are you talking about?

What is the difference between gross rake and net rake?

Can you give an example with actual numbers in it?

Oke.

Gross rake would be the total amount that is lost by the losing players.
Rake may not be the best term for it, but to me this is not a word game.
We got there because the DOJ used a percentage (of one third or more) of deposits as rake income.

The lost money is divided between the room and the winning players.
So gross rake minus net winnings equals net rake.

An example with numbers in it?
Losing players lose 100K combined; winning players win 50K combined.
Gross rake 100K minus net winnings 50K equals net rake 50K.

07-15-2012 , 11:15 PM

#33486

waq

veteran

Join Date: Mar 2007 Posts: 2,700

The sun is black and my blood is green.

07-15-2012 , 11:23 PM

#33487

WindigoBob

journeyman

Join Date: Nov 2011 Posts: 391

Let's make the rake thing [I]really[I] simple.

The players bring X amount of money to the table(s). After all play is completed, players take Y amount away from the table. The house take ( rake ) is X-Y.

Anyone like that explanation?

07-15-2012 , 11:35 PM

#33488

WindigoBob

journeyman

Join Date: Nov 2011 Posts: 391

Talking about rake and FTP in the same paragraph is kind of insane. They treated every penny deposited as if it were rake and grudgingly allowed some withdrawals from their "profits".

07-15-2012 , 11:57 PM

#33489

momo_the_kid

grinder

Join Date: Aug 2005 Posts: 627

Quote:

Originally Posted by WindigoBob

Talking about rake and FTP in the same paragraph is kind of insane. They treated every penny deposited as if it were rake and grudgingly allowed some withdrawals from their "profits".

FTP's accounting: deposit=profit=dividend in owners' bank accounts

07-16-2012 , 12:17 AM

#33490

black_friday

banned

Join Date: May 2012 Posts: 714

Quote:

Originally Posted by momo_the_kid

FTP's accounting: deposit=profit=dividend in owners' bank accounts

Lol

07-16-2012 , 12:20 AM

#33491

gnvsnnkv

old hand

Join Date: May 2009 Posts: 1,455

Quote:

Originally Posted by NeedsToBeSaid

That from someone who has over 700 long-winded, rambling posts in a thread that has nothing to do with him. Yeah, we should definitely be looking to you for advice on how to spend our days.

Sir/ma'am,

I don't know who you are, and although I frequent this thread daily, I can't say I remember you saying anything of significance (it's probably just me)... So, perhaps in the future you will justify your s/n even more strongly, but as of now, DTM has been a boss itt and throughout the 2p2 areal...

Let's all be friendly.

07-16-2012 , 12:21 AM

#33492

black_friday

banned

Join Date: May 2012 Posts: 714

In FTPs defense... and I know it doesn't make it right.

But before black Friday FTP had some agreement where they could get loan to cover player deposits if **** hit the fan. Idk what happened with that.

07-16-2012 , 12:24 AM

#33493

WindigoBob

journeyman

Join Date: Nov 2011 Posts: 391

Quote:

Originally Posted by black_friday

Obviously, nothing good happened. No loan and no payout.

Last edited by WindigoBob; 07-16-2012 at 12:25 AM. Reason: Wait, maybe there was a loan- more dividends.

07-16-2012 , 12:25 AM

#33494

jayg320

old hand

Join Date: Mar 2011 Posts: 1,272

Quote:

Originally Posted by momo_the_kid

FTP's accounting: deposit=profit=dividend in owners' bank accounts

that is the most accurate statement in this thread

07-16-2012 , 12:38 AM

#33495

CANUCKEH44

grinder

Join Date: May 2012 Posts: 643

Quote:

Originally Posted by exoendo

is there any specific day that's going to be more likely to hear news on?

YES! Pick a Day , Any Day will do.

07-16-2012 , 12:41 AM

#33496

m00sy

grinder

Join Date: Mar 2010 Posts: 473

Quote:

Originally Posted by WindigoBob

X-(Y+RB+Bonus+Points)

Some the bonuses on FTP seemed to good to be true..to me anyway.

07-16-2012 , 12:42 AM

#33497

black_friday

banned

Join Date: May 2012 Posts: 714

Quote:

Originally Posted by CANUCKEH44

YES! Pick a Day , Any Day will do.

Today one time? Obviously no source. Just ****ing want this nightmare to end.

Idk what's worse the money gone. Or my wasted time itt

07-16-2012 , 12:54 AM

#33498

three_dee

adept

Join Date: Apr 2011 Posts: 841

Quote:

Originally Posted by 28renton

Payphones are more than a quarter now, man. I know. Blew my mind too when I found out.

Not in New York. Still a quarter.

Damned if you can find one that works though. Maybe 1 in 10. Whenever one of those situations arises where my phone dies, I always have to try at least half a dozen of them.

07-16-2012 , 12:59 AM

#33499

CANUCKEH44

grinder

Join Date: May 2012 Posts: 643

Quote:

Originally Posted by three_dee

Geeze, I haven't used a pay phone in yrs.
Bell Canada a few months ago wanted to raise the price for a local call to a buck.

FML I need My FTP monies so I can make a friggin phone call
lol

07-16-2012 , 01:48 AM

#33500

tamiller866

Pooh-Bah

Join Date: Oct 2008 Posts: 3,651

Quote:

Originally Posted by exoendo

is there any specific day that's going to be more likely to hear news on?

You don't want to hear any news before at least mid August, search Gioco's posts to get a reasonable timetable.

If you hear next week that the DOJ and PS closed a settlement, that settlement could not include FTP's assets, because they haven't been forfeited yet.

Silence is golden right now.

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