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UB payments

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  1. ira3801 ira3801 is offline

    Fort Lauderdale, FL
    United States

    Posts: 309
    Joined: Oct 05

    Apr 26th, 2011 (4/26/2011 5:13pm)

    any intl players getting paid even?I heard there maxing 250.00 per week..
     
  2. julesdAA julesdAA is offline

    Maple
    Canada

    Posts: 70
    Joined: Sep 08

    Apr 26th, 2011 (4/26/2011 5:30pm) in reply to ira3801

    yeah, got my $250 cashout from UB, took around 24 hours to process.
     
  3. ira3801 ira3801 is offline

    Fort Lauderdale, FL
    United States

    Posts: 309
    Joined: Oct 05

    Apr 26th, 2011 (4/26/2011 6:14pm) in reply to julesdAA

    weeeeeeeee,i mean its ridiculous they cant payout intl players..i guess my US money might take 10 years to cash
     
    Thread Starter
  4. donkiman donkiman is offline

    Posts: 1,332
    Joined: Aug 10

    Apr 26th, 2011 (4/26/2011 7:38pm) in reply to ira3801

    Do we have any information on them letting us change our addresses/banking info to Canadian in order to cashout?
     
  5. ira3801 ira3801 is offline

    Fort Lauderdale, FL
    United States

    Posts: 309
    Joined: Oct 05

    Apr 26th, 2011 (4/26/2011 7:54pm) in reply to donkiman

    doesnt matter youll get 250 a week not worth it
     
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  6. pokerscrub1 pokerscrub1 is offline

    Darlington, SC
    United States

    Posts: 543
    Joined: Feb 10

    Apr 26th, 2011 (4/26/2011 8:44pm) in reply to ira3801

    Do you think this is a sign of liquidity issues or just the fact that a lot of the funds are still frozen?
     
  7. Abratzzi Abratzzi is offline

    TX
    United States

    Posts: 785
    Joined: May 09

    Apr 26th, 2011 (4/26/2011 9:12pm) in reply to pokerscrub1

     
    Originally Posted by pokerscrub1 View Post

    Do you think this is a sign of liquidity issues or just the fact that a lot of the funds are still frozen?

    Wish I knew.....
  8. Parky 32 Parky 32 is offline

    Posts: 317
    Joined: May 09

    Apr 26th, 2011 (4/26/2011 9:49pm) in reply to pokerscrub1

     
    Originally Posted by pokerscrub1 View Post

    Do you think this is a sign of liquidity issues or just the fact that a lot of the funds are still frozen?

    Prolly both I would say.
     
  9. adamsapple19 adamsapple19 is offline

    Pueblo, CO
    United States

    Posts: 1,769
    Joined: Nov 08

    Apr 26th, 2011 (4/26/2011 9:52pm) in reply to pokerscrub1

     
    Originally Posted by pokerscrub1 View Post

    Do you think this is a sign of liquidity issues or just the fact that a lot of the funds are still frozen?

    Well both I mean clearly the majority of their funds are tied up in the seized accounts and now they have to wait until they bring in more rake to get back to a point where they can make normal payouts.

    I never had any cashout issues w UB. I suppose if the DoJ would "unsieze" some of the funds they could make proper payouts. If that doesn't happen it could take a long time for UB to get their financial house back in order. I heard they lost 60 to 70% of their volume after April 15th. Catching up could take a while.
     
  10. tyson219 tyson219 is offline Moderator

    New York, NY
    United States

    Posts: 2,120
    Joined: Feb 06

    Apr 26th, 2011 (4/26/2011 10:00pm) in reply to adamsapple19

     
    Originally Posted by Parky 32 View Post

    Prolly both I would say.

     
    Originally Posted by adamsapple19 View Post

    Well both I mean clearly the majority of their funds are tied up in the seized accounts and now they have to wait until they bring in more rake to get back to a point where they can make normal payouts.

    Can either/both of you please provide a link/support to these assertions? I'm concerned about my AP/UB funds too, but you're stating the above is if they are facts and not speculation. If they are indeed facts, I'd like to read them in context.
     969 
  11. Parky 32 Parky 32 is offline

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    Joined: May 09

    Apr 26th, 2011 (4/26/2011 10:44pm) in reply to tyson219

    Only speculation but you have to read into it what you will. I wrote on another thread....

    But with this $250 restriction I find disturbing to say the least. The very fact that they have introduced this tells me that they never had client funds separated from other company assets and liabilities. It just screams liquidity problems. Strictly speaking this company should be able to cashout everyone (non U.S.players) if required at any given time. They cant. So that makes them completely useless at what should be easy to do. Management must have realised the implications of putting this ($250) restriction in place and the consequences of their actions. I see it as a last ditch effort to keep the company afloat because they simply would not of done it otherwise. Why do something so radical if its not needed? They are 'telegraphing' to the world that they do not have liquid funds.

    As it stands-the DoJ have frozen most of their/our money by the looks of things. The sooner they talk to the DoJ then their/our funds will be released and cashouts can proceed as normal.
     
  12. adamsapple19 adamsapple19 is offline

    Pueblo, CO
    United States

    Posts: 1,769
    Joined: Nov 08

    Apr 26th, 2011 (4/26/2011 11:08pm) in reply to tyson219

     
    Originally Posted by tyson219 View Post

    Can either/both of you please provide a link/support to these assertions? I'm concerned about my AP/UB funds too, but you're stating the above is if they are facts and not speculation. If they are indeed facts, I'd like to read them in context.

    Sorry brah no links just common sense.

    Think about it, after the arrests and seizures of accounts on the 15th UB was allowing US players to continue playing for real money but not to cashout. There is only one reason why they would do this: they needed the rake that would be generated by the continuing of play. Further proof of this exists in the fact they are limiting non-US withdrawals to $250.00 per week.

    They clearly have most of their funds locked up in the seized accounts and are scrambling to bring in new rake to make ends meet (which will be tough considering they lost a major chunk of their action). Common sense states it will prbly take them a while to catch up. It reminds me of a ponzi scheme in fact ha. If the DoJ would unfreeze some of the funds they'd likely be in better shape.

    Obv I could be wrong but this is how it adds up to me based on the events that have unfolded since April 15th.
     
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