Originally Posted by StayCalm

I deposit $500.
UB collects my $500 - Total UB account is $500
I play a $11 sng ($1 rake)
Ub collects that $1 in rake - Total UB account STILL at $500 because that rake is taken from my original $500 deposit

Pretty simple....

Except that $500.00 is not THEIR money, it's yours. When you play that $11 SNG they collect $1.00 which is now theirs. I'm not an accountant but I'm pretty sure in accounting terms they can't count player funds as assets of the company. Now whether or not that's how UB operates only they know.

I do see what you're saying tho. If they didn't keep player accounts separate from company accounts then your point is taken.

At this point I'm willing to believe the only site that truly kept player funds segregated from company funds (as promised) was stars.

 

Originally Posted by donkiman

Honestly guy, when i started on AP i was working full time and in grad school. I had played on stars and the field size was too big for me to see consistent profits. The next largest sites for US players were FT and AP. I tried AP and it took off. After 2 years being a consistent winner at low-midstakes I quit my job and made the switch to playing full time because I knew I could make 15k+ monthly. I had heard about the cheating scandals in the past but I had no idea that it involved any of the owners of the site. With sponsored pros like Phil Helmuth and Annie Duke I just assumed the site was legit now. Not everyone has been doing this for 5+ years and lives and breeds online poker gossip. Your avg. depositor is completely uninformed of any prior cheating scandals at all. Had I known about the corrupt business practices i.e blatant tax evasion, understating profits, hiding money, cheating investors, money laundering etc. I would have never kept more than a couple thousand on the site.

Your average depositor puts on a $100 and isn't making "15K a month" like you were...your ignorance and laziness in researching a company with a shady rep that was holding tens of thousands of your dollars is mind boggling.

 

Originally Posted by StayCalm

Ya thats what my assumption was. And i def agree with you that stars is probly the only site that actually kept the players funds separate.

no.... stars and ub and ftp all act as banks do with their accounts.

when you depo money in a bank, there isn't a file or box that says 'Joe Schmo's money' and you have your actual money in there. The bank has like an admin account of millions of dollars, and they withdraw the funds from their admin account into your account.

If your account says 50,000, and they only have 20,000, they call the fed reserve and get more money and blah blah blah

ub and ftp dont have a fed reserve to call, and real banks also dont have people dipping into their main admin account.... or at least most banks dont.

if a bank gets seized due to federal money laundering / fraud, ur account is wiped out with their assets, which is why when you go to the bank teller, theres those little signs saying

'ur money is gaurenteed up to $15,000' or whutever

the only reason why stars is able to pay people back is not because they kept money seperate... its because their assets far exceeded their debts to players... they didn't have crooks and 'pros' dipping into the main sites account for $ like UB, and apparently ftp is starting to seem like they did too.

at least UB is paying international players back and increasing their pay limits.

http://forumserver.twoplustwo.com/sh...postcount=2363

interesting

 

Originally Posted by ShyGuy03533

at least UB is paying international players back and increasing their pay limits.

They are not paying me at all!!!

Anyone??

 

Originally Posted by pedroarmenio

They are not paying me at all!!!

Anyone??

I had $129 left on there, requested BF (using neteller), it bounced, they gave me $15, tried again a couple of days ago, nothing as of yet.

 

Originally Posted by ShyGuy03533

no.... stars and ub and ftp all act as banks do with their accounts.

when you depo money in a bank, there isn't a file or box that says 'Joe Schmo's money' and you have your actual money in there. The bank has like an admin account of millions of dollars, and they withdraw the funds from their admin account into your account.

If your account says 50,000, and they only have 20,000, they call the fed reserve and get more money and blah blah blah

ub and ftp dont have a fed reserve to call, and real banks also dont have people dipping into their main admin account.... or at least most banks dont.

if a bank gets seized due to federal money laundering / fraud, ur account is wiped out with their assets, which is why when you go to the bank teller, theres those little signs saying

'ur money is gaurenteed up to $15,000' or whutever

the only reason why stars is able to pay people back is not because they kept money seperate... its because their assets far exceeded their debts to players... they didn't have crooks and 'pros' dipping into the main sites account for $ like UB, and apparently ftp is starting to seem like they did too.

at least UB is paying international players back and increasing their pay limits.

Weird, you say "no" but then proceed to agree with my entire first post (not the one you quoted). You just explained in more detail what i originally said. Am i missing something? By the way, I'm agreeing with you, even if its just speculation.

Got my last $ from UB today fwiw.

heard a few other people got their cashouts today

still waiting on my 2nd

 

Originally Posted by ApesAreFun

Got my last $ from UB today fwiw.

Ya the DOJ unfroze the April 15th seized funds two days ago.

If UB can get you guys paid within two business days of having their accounts back I don't see why it should take a whole lot longer to pay us back.

 

Originally Posted by cable77

anyone getting rakeback paid by them?,as they are holding on to payments now

I got my March rakeback a few days after black friday. Haven't gotten Aprils yet, I usually was paid around the middle of the following month and will post if I receive it.

 

Originally Posted by hookey91

I got a decent amount of money on AP and was wondering if there is any hurt on continuing to play on their site. I mean you either are going to get the money or you are not. Plus a lot of their tourneys have big overlays making them quite profitable.

I thought about that.. It seems to be a good idea to continue playing there. If you're not seeing your money ever again, it doesn't really matter if you are winning or not. But if you are, there is a great value in playing those big overlays.

That's great news!
Still waiting on my request though

anyone now getting their money out of ap?

ive received 2 500$ payouts since bf -

i am nervous as hell though cuz i got a sizeable amount of money still on the site and at 500$/per its gonna take forever to cash out