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Full Tilt Funds -- Account Question/Security

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  1. Rhoof Rhoof is offline

    Central Point, OR
    United States

    Posts: 438
    Joined: Jan 06

    Oct 9th, 2006 (10/9/2006 2:25pm)

    First off, I like this site and have deposited on it. However in these stange times, I am a little concerned that they don't appear to keep player funds in a seperate account like UB or stars. Anyone know how they do this? I mean businesses that keep "adequate working capital" in generally accepted banking methods, etc. go bankrupt.

    From their site:

    Banking and Transaction Processing - Real Money

    Full Tilt Poker conducts their banking and financial affairs in accordance with generally accepted standards of internationally recognized banking institutions. Full Tilt Poker follows and adheres to applicable laws pertaining to transaction reporting and anti-money laundering laws and regulations.

    Prize Payouts - Real Money

    Full Tilt Poker does ensure that there is adequate financing available to pay all current obligations and that working capital is adequate to finance ongoing operations. Full Tilt Poker does pay winnings and account balances promptly upon reasonable demand.
  2. squeek2004 squeek2004 is offline

    Clemson, SC
    United States

    Posts: 235
    Joined: Jan 06

    Oct 9th, 2006 (10/9/2006 3:29pm) in reply to Rhoof

    lol at FTP going bankrupt, now that is funny
  3. Rhoof Rhoof is offline

    Central Point, OR
    United States

    Posts: 438
    Joined: Jan 06

    Oct 9th, 2006 (10/9/2006 6:15pm) in reply to squeek2004

    i'm not trying to say they're going bankrupt, but i definately like the idea that player funds are in seperate accounts and not used for working capital on UB/stars.

    Obviously profitable companies can lose a lot of value quickly that are not as risky as a company like full tilt. Enron was a pretty big and profitable company, no? party has lost 70% of its value and it is taking a more conservative approach to the new law than full tilt.

    in one respect, I hate these kinds of posts (mine) but I find it unusual that the player funds are not kept seperate.
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