The damage done to FT, Lederer, and who ever else is on the top rung at that organization are doomed. So are the players, especially the ones that not only held out hope, but every single player who had any cash on their site. The damage to the industry is irreparable, but I'm hoping if nothing else, the industry learns from this fiasco and becomes more proactive in assuring their players that their money is secure.
Howard Lederer is now considered in the same scuzzbag class of low life vermin as Russ Hamilton is, and I doubt he will say or do anything except take the funds he wrestled out and live in obscurity for the rest his days.
Funny, when all the BS happened at UB/Absolute, everyone still played there. Damage to the industry should have been irreparable then too. While I don't think that FTP will come out of this in any shape at all, if they were to open their doors again, I don't doubt people would play there.
It's true what you say about UB and yes, there are people that would definitely play there again. I think the biggest difference was UB had black sheep and scapegoats and while players lost money, it didn't affect their bottom line much in the big picture.
The big difference here is there major competitor has made things right, while there doesn't appear to be the same effort being made here, and financially they are hooped beyond all recognition here. While we tend to focus on player debts, affiliates are owed HUGE dollars as well, rake back sites etc, prob as much as US player debt. Then there are most likely advertising receivables for print, tv etc....plus a billion to the DOJ
While UB was more "disgraceful" in most eyes, they have actually done a better job than tilt it seems here in this situation and only a small percentage were affected as opposed to the masses, so it didn't hit home and register as hard, since most didn't lose anything.
No conciliation to the people that got destroyed by being super used but....
WOWOWOWOW, good thing I withdrew all my bankroll and got my money in 3 days from full tilt.
Also withdrew my stars roll, so now guess I am sitting back and watching to see what happens again, see what sites if any we can play on .
It's looking like what I said months ago how we are going to need like double our bankrolls as we will be playing in u.k. currency from what it looks like.
Urm, iirc, US government mad a deal within a week or two of Black Friday allowing US players to withdraw, but FTP had, to date not processed any US requests.
Just my opinion, but it sounds like Black Friday caused a "run" on the FTP bank, which they did not have enough capital to cover. This "default" is what has caused the Alderney Commission to pull their license, and here we are . . .
If that's true that's ofc really serious. I was under the impression full tilt was getting better at paying up and that it just took a bunch of time. What seems wierd to me is just that no one (to my knowledge) gave the rest of the world the could withdraw any warning and time to do so before locking the site down
So...if Ivey does indeed play in the $50K event tomorrow, should it be taken as a sign of positive forward momentum for FT? IMO Ivey burnt his bridge, and the only reason he would withdraw his lawsuit is so the potential buyers would have the most famous face in poker to promote the New FT. Not sure if he would be considered a promising promoter for the new company though, considering the bad blood between him and the FT brand.
Wonder if Ivey will wear a FT patch in the $50K event?
Doesn't sound like it anymore though. And the rumour was actually that Ivey had brought Jack Binion to the table as the principle backer, not Ivey himself.
Regardless, there would have to be HUGE management changes made and all debts cleared before any new operation could be launched, and even then, I doubt it would launch in the US ever again.
If FT did return though, in one way or another, I'm not sure if I would play it anymore or simply pull my money off completely.
As stated previously, people said the same thing about UB. Granted, this situation is worse in a lot of ways, but in other areas, not so much . . . like the Chinese curse,
we are living in interesting times.
No need to change. The investors may be Euro weenies, but they are not going to be using a sinking Euro as the currency of choice . . . it's still about the Benjamins, Philli . . .
Care to change that statement now, as it looks like euro investors bought ftp.;)
Philli, you really need to understand the big picture... Poker is a verrrrry small part of the aforementioned picture.. US dollars are still what drives the world economy and that's not changing anytime soon no matter what the state of the US economy. As does Stars I can see other sites having both US and Euro tables but the US greenback is still king.
As far as euro investors buying FTP it's just another one of the dozens of rumours on 2plus2 as well as other forums. No need to pretend you have any inside knowledge...:)
No need to change. The investors may be Euro weenies, but they are not going to be using a sinking Euro as the currency of choice . . . it's still about the Benjamins, Philli . . .
Oh ya I know that, but you guys think they will be stupid enough to use U.S. currency still with all the problems with the DOJ?
I have been saying the u.k. currency thing for months now as this has already happened on one of the microgaming sites I played on years ago, and the exchange rate sucks for us unless you cash I guess then it might be good, idk.
But anyway guys I have just been frustrated more the last few weeks with trying to help people and then getting bashed or slapped in the face( not just on forums but at work also).
I have lived through all this crap in one way or another and I saw the warning signs.
That's why like 2 weeks ago I was on here pretty much begging you guys to get your money off and to djgolfcan to stop playing his stake as I don't want to see any of you (well most of you I guess:p) lose your money and I know staking is Hobbes side business I guess you can call it so I did not want to see him lose some of that money for his business.
Philli, you really need to understand the big picture... Poker is a verrrrry small part of the aforementioned picture.. US dollars are still what drives the world economy and that's not changing anytime soon no matter what the state of the US economy. As does Stars I can see other sites having both US and Euro tables but the US greenback is still king.
As far as euro investors buying FTP it's just another one of the dozens of rumours on 2plus2 as well as other forums. No need to pretend you have any inside knowledge...:)
uh I am not pretending anything, it's called common sense.
Comments
guess i need to pick another poker site...or play more live. anyone know a game?
Didn't think at the time when you all pulled out that this sort of thing could happen. To me, sounded like more Chicken Little than likelihood.
Like I said before...FML
Funny, when all the BS happened at UB/Absolute, everyone still played there. Damage to the industry should have been irreparable then too. While I don't think that FTP will come out of this in any shape at all, if they were to open their doors again, I don't doubt people would play there.
The big difference here is there major competitor has made things right, while there doesn't appear to be the same effort being made here, and financially they are hooped beyond all recognition here. While we tend to focus on player debts, affiliates are owed HUGE dollars as well, rake back sites etc, prob as much as US player debt. Then there are most likely advertising receivables for print, tv etc....plus a billion to the DOJ
While UB was more "disgraceful" in most eyes, they have actually done a better job than tilt it seems here in this situation and only a small percentage were affected as opposed to the masses, so it didn't hit home and register as hard, since most didn't lose anything.
No conciliation to the people that got destroyed by being super used but....
Also withdrew my stars roll, so now guess I am sitting back and watching to see what happens again, see what sites if any we can play on
It's looking like what I said months ago how we are going to need like double our bankrolls as we will be playing in u.k. currency from what it looks like.
NANANANANANANANANA.:p
I put my trust in full tilt, not in some egaming commission
I'm not gonna start doubting full tilt until they themselves refuse to pay out money rather than being forced to not do so
Just my opinion, but it sounds like Black Friday caused a "run" on the FTP bank, which they did not have enough capital to cover. This "default" is what has caused the Alderney Commission to pull their license, and here we are . . .
Wonder if Ivey will wear a FT patch in the $50K event?
Regardless, there would have to be HUGE management changes made and all debts cleared before any new operation could be launched, and even then, I doubt it would launch in the US ever again.
If FT did return though, in one way or another, I'm not sure if I would play it anymore or simply pull my money off completely.
we are living in interesting times.
Care to change that statement now, as it looks like euro investors bought ftp.;)
Philli, you really need to understand the big picture... Poker is a verrrrry small part of the aforementioned picture.. US dollars are still what drives the world economy and that's not changing anytime soon no matter what the state of the US economy. As does Stars I can see other sites having both US and Euro tables but the US greenback is still king.
As far as euro investors buying FTP it's just another one of the dozens of rumours on 2plus2 as well as other forums. No need to pretend you have any inside knowledge...:)
inconCEIVable!
Oh ya I know that, but you guys think they will be stupid enough to use U.S. currency still with all the problems with the DOJ?
I have been saying the u.k. currency thing for months now as this has already happened on one of the microgaming sites I played on years ago, and the exchange rate sucks for us unless you cash I guess then it might be good, idk.
But anyway guys I have just been frustrated more the last few weeks with trying to help people and then getting bashed or slapped in the face( not just on forums but at work also).
I have lived through all this crap in one way or another and I saw the warning signs.
That's why like 2 weeks ago I was on here pretty much begging you guys to get your money off and to djgolfcan to stop playing his stake as I don't want to see any of you (well most of you I guess:p) lose your money and I know staking is Hobbes side business I guess you can call it so I did not want to see him lose some of that money for his business.
uh I am not pretending anything, it's called common sense.