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60 Minutes story may end up being big trouble

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  1. hicakipe hicakipe is offline

    Glendale, CA
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    Jul 9th, 2008 (7/9/2008 12:27am)

    <span>My fear is that we’ll see a ton of people trying to withdraw their money as fast as they can after the 60 Minutes story.<span> </span>The sites may be overwhelmed with withdrawal requests.<span> </span>You think things are slow now…<span> </span></span><span>Also, the sites may not be as liquid as you think, i.e., they probably don’t just sit on the cash that people deposit.<span> </span>The money may be tied up in investments, so they may not even have enough cash on hand to cover the withdrawals.<span> </span>I hope I’m wrong.</span>
  2. webb10king1 webb10king1 is offline

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    Jul 9th, 2008 (7/9/2008 12:30am) in reply to hicakipe

    When is this airing?
  3. N 82 50 24 N 82 50 24 is offline herp derp derp

    Philadelphia, PA
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    Jul 9th, 2008 (7/9/2008 12:33am) in reply to hicakipe

    In my opinion this is scaremongering. If there's one thing I've learned since the UIGEA, it's that it's very very difficult to kill online poker. It's been hit with blow after blow in all sorts of directions, but people keep on coming. I think AP/UB might take a hit, but I think stars and FTP will be fine. The vast majority of players are smart enough to realize that every online poker site isn't the same and that it's much less likely that this sort of thing goes on at Stars or FTP.

    On the other hand, I do agree that the 60 Minutes episode could lead to big problems with politicians taking the issue and running with it (although if it airs before the presidential election, we're probably in better shape since they'll be distracted) or just general problems with getting more people interested in online poker. But that impact won't be immediate in my opinion.
     
  4. skisteve skisteve is offline 2008-2009 Thread Killer Champ

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    Jul 9th, 2008 (7/9/2008 12:33am) in reply to hicakipe

     
    Originally Posted by hicakipe View Post

    <span>My fear is that we’ll see a ton of people trying to withdraw their money as fast as they can after the 60 Minutes story.<span> </span>The sites may be overwhelmed with withdrawal requests.<span> </span>You think things are slow now…<span> </span></span><span>Also, the sites may not be as liquid as you think, i.e., they probably don’t just sit on the cash that people deposit.<span> </span>The money may be tied up in investments, so they may not even have enough cash on hand to cover the withdrawals.<span> </span>I hope I’m wrong.</span>

    ZOMG! what site! What stakes!
  5. polaris769 polaris769 is offline

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    Jul 9th, 2008 (7/9/2008 12:33am) in reply to hicakipe

    I understood that the 60 Minutes story will only be on AP and UltimateBet? Meaning pokerstars, which already has the biggest tourneys, will also get the AP and UltimateBet fish. That's just my prediction.
  6. hicakipe hicakipe is offline

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    Jul 9th, 2008 (7/9/2008 12:40am) in reply to N 82 50 24

    Nate, it's not intended to be scare mongering. It happens any time companies come under investigation. Sometimes it's the whole industry that gets hit, sometimes it's just the individual company. In this case, it may depend on how 60 Minutes spins the story -- whether it's one bad apple or it's an entire rogue industry.
    Thread Starter
  7. T.H.HUXLEY T.H.HUXLEY is offline

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    Jul 9th, 2008 (7/9/2008 12:42am) in reply to hicakipe

    I doubt it will be that bad for poker. Its not like 60 minutes is huge a show anymore. You might get some older people overreacting.
  8. Trent55 Trent55 is offline can i have a title now

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    Jul 9th, 2008 (7/9/2008 12:43am) in reply to T.H.HUXLEY

    Its NAT
  9. hicakipe hicakipe is offline

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    Jul 9th, 2008 (7/9/2008 12:44am) in reply to Trent55

    Nated, I mean noted. I apologize.
    Thread Starter
  10. N 82 50 24 N 82 50 24 is offline herp derp derp

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    Jul 9th, 2008 (7/9/2008 12:51am) in reply to Trent55

     
    Originally Posted by Trent55 View Post

    Its NAT

    Thanks Tent.
     
  11. MUPokerPlayer MUPokerPlayer is online now

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    Jul 9th, 2008 (7/9/2008 1:05am) in reply to T.H.HUXLEY

     
    Originally Posted by T.H.HUXLEY View Post


    I doubt it will be that bad for poker. Its not like 60 minutes is huge a show anymore. You might get some older people overreacting.

    lol, yeah, nobody watches their little program anyway.
  12. xxDonkeyKongxx xxDonkeyKongxx is offline

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    Jul 9th, 2008 (7/9/2008 1:12am) in reply to hicakipe

    WTF is 60 minutes?
  13. Liv2StkAzns Liv2StkAzns is offline

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    Jul 9th, 2008 (7/9/2008 1:38am) in reply to xxDonkeyKongxx

    when does this episode air? also where might I pertain information on this subject matter?
  14. ohioschwa ohioschwa is offline

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    Jul 9th, 2008 (7/9/2008 1:53am) in reply to hicakipe

    Some Facts from the upcoming 60 minutes show

    One in three people that played on UB or AB attempted suicide

    UB and AB target children by using "play money" games and want to put online casino's in every play ground and play room in the world

    One miss click of the mouse and they own your house

    God hates poker players
  15. mesaplayeraz mesaplayeraz is offline

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    Jul 9th, 2008 (7/9/2008 2:13am) in reply to N 82 50 24

    In my opinion this is scaremongering. If there's one thing I've learned since the UIGEA, it's that it's very very difficult to kill online poker. It's been hit with blow after blow in all sorts of directions, but people keep on coming. I think AP/UB might take a hit, but I think stars and FTP will be fine. The vast majority of players are smart enough to realize that every online poker site isn't the same and that it's much less likely that this sort of thing goes on at Stars or FTP.
    Nat,

    I have to disagree with you on the section I made bold. The vast majority of people on P5, 2+2 and other poker forums realize that every online poker site isnt the same but there are thousands and thousands of recreational players (aka fish) that could assume that if this happened on UB and AP that it could happen on Stars and Tilt.
  16. JPitt09 JPitt09 is offline Royals Fan, lol

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    Jul 9th, 2008 (7/9/2008 2:15am) in reply to ohioschwa

    only like one of those things are true.

    maybe two.
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