They have finally admitted that they are having cash flow problems instead of trying to make us believe that they just can't find a way to get our money offline, so why can't they use whatever money that they do have at this point and let everyone withdraw a certain % of our account balances right now as the WSOP is going on? I know that it will be more work for their support staff as they are going to have to verify each transaction to make sure that it is not more than the % that are letting people take off, but it really wouldn't be that hard to look at the withdraw request and then check the players account balance and quickly confirm or deny that. Even 25% would help a lot of people right now. I'm not sure if they DOJ would allow this or not, but they should go to the DOJ and make this request. This would show everyone that despite the fact that they are very poorly run, to rake all that money and not have the players money available, at least they are trying to help the players out a little bit. They are going to have a huge uphill battle to climb to repair their image and that might not ever happen, but at least throw us a bone.

Cosign - this would probably also help stop the slow but steady loss of international customers that has been happening the past few weeks and have a nice trickle effect for FTP itself.

 

Originally Posted by threeven

I would love 25% of my balance right now :(

Meeeeeee tooooooo

+1

 

Originally Posted by PokerAM

they are suppose to keep players money in a seperate account?

Pretty sure that isn't the case for FTP. stars did. FTP did not.

 

Originally Posted by wackyJaxon

DOJ confiscated a material amount of the customer base's money on top of uncleared deposits is most of the problem here.

+1

If they don't intend on paying any of it back, why would they pay some of it back.

That's what everyone should be worried about.

 

Originally Posted by SpankyHamm

If they don't intend on paying any of it back, why would they pay some of it back.

That's what everyone should be worried about.

exactly why it's a good faith payment... it shows they do intend on paying everyone.

 

Originally Posted by wackyJaxon

However, if they pay some of it back now, people can feel they will eventually pay all of it back, and would also help them retain their current customer base.

This.

 

Originally Posted by wackyJaxon

However, if they pay some of it back now, people can feel they will eventually pay all of it back, and would also help them retain their current customer base.

Yeah that would be a smart move.
Im just hoping they got some kind of trouble doing that because of the frozen funds.

 

Originally Posted by Niceguy

When you have to raise 200mil in capital in a short amount of time, you aren't making any partial payments.

They are paying international customers though, so why not make a concession here?

 

Originally Posted by Niceguy

International players still contribute rake, Americans don't. The concession would be more of a PR move with unclear rewards then an actual smart financial decision. Without seeing their books it's debateable how much of the value of their brand-name is recoverable after this debacle. If I was an LLC, I'd have pulled the plug awhile ago. But who knows, maybe they can find some group willing to invest 200mil in a company with decreasing traffic, a damaged brand-name, and without acquiring controlling interest.

I understand your point, but their traffic has gone down a bit the past few weeks and will continue to do so in the International market if confidence is still iffy in FTP. I will continue to play there for now, but my balances are much lower since I will only keep on what I deem to be an acceptable risk to lose or be locked up. I am sure there are many others in my boat that would play on FTP more if they saw US customers being paid. Pay out 25% or something similar, the bad PR won't be as bad, and it will instill confidence in the existing customer base to keep playing there and a few people that left will come back. Sooner or later they will have to pay or shut down, if they can't do it all now, imo they should go ahead and do a smaller amount.

there prob using what money they do have to pay all the international players out who are getting scared that there money isnt safe because of all of these threads. Im sure if i was in the same boat as you guys i would be angry to but if FT can spend what money it does have on ever paying the US players or international players (who can still make them money) i think there going to try and keep everyone else happy at the expense of the US.

plenty of non US posters on here have admitted to reducing there FT BR's and the same people have commented on little difference in timelyness of withdrawals

 

Originally Posted by clemsonrich

The problem is that these guys don't operate with any sort of business ethics or morality whatsoever. They are not just going to shell out millions upon millions just because its the right thing to do, or even to save face. They aren't going to do anything at all until they are forced to. There is just no accountability. Who do they have to answer to? The US government? Maybe. But OUR interests certainly aren't in mind when it comes to them, as they view it as "dirty money" (because they are ignorant), or at least they say it is so that they can take it. I hate to say it, but I think we may be in this alone at the moment. Media since Black Friday has cast such a negative light on online poker, and I feel like the public has latched onto that attitude. We really need to do everything in our power to let people know that all the money seized is our country's CITIZEN'S money. It's not drug money, it's not terrorist money. It's money that Americans earned and deposited onto poker sites in good faith. The investigators who "discovered" all this "illegal activity" are being treated like some sort of heroes now, when they are stealing from their own people. And where the F*%K is Howard Lederer?

+1 - spot on

 

Originally Posted by adamsapple19

Spot on. Too many ppl right now operating under the dangerous and passive mentality of "I'm sure FT will pay us out eventually". And why wouldn't they believe that? All we have to hold on to at this point is their word that they'll pay us. No one is looking out for us but us.

We can shill post, bitch, whine, flame and order pizzas like no other tho...

WSOP is our last good chance to apply any pressure from the players side. So many absolutely free and heavily covered opportunities there. France, Italy, Greece and any other new regulated/licensed skins/sites, I would assume are totally separate companies/accounts etc. and will not generate any rake for US accounts. You guys that think those country's are guna let FTP do that are lols. Doubt FTP euro market could even catch up, as we do not even know the whole story of FTPs accounting or lack of.. Given the recent events, stories, and FTPs take on "customers" not having a thing to do with service. Sitting and waiting is not the right answer. Pro-Active.

"hookers and blow" on a whole 'nother level tho. GG