| This is a discussion on Where Does the Money Go? within the online poker forums, in the Poker Rooms section; I wonder where poker sites put the money that is deposited with them. They get to keep the rake, right, which is their profit. But ... |
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| Where Does the Money Go? I wonder where poker sites put the money that is deposited with them. They get to keep the rake, right, which is their profit. But what about all the customers' accounts? I doubt they hide it under a mattress. They must invest it or at least put it in interest-bearing accounts (or they spend it!). It should never be hard to get your money back out again if the poker sites are playing on the up and up (who's going to bail them out if they're not -- think U.S. Banks). Realistically, it's quite a risk for all of us to have money on deposit. It could vanish at any time and there's nothing we could do about it, but we accept these risks, and most poker sites have a huge incentive not to steal our money. |
| Play Texas Hold'em Online Poker | Where Does the Money Go? | |
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Yes, in the business world of anything you invest in isn't it a risk? But isn't it a risk in the investments world such as the stock exchange, bank bonds etc? Granted I might see a percentage of interest with the banks. I don't keep thousands in the pokersites..do you? I've also been an online member for 4yrs and have never had a problem with the sites to withdraw my winnings..have you? BTW you should never invest in a pokersite that is not established!! |
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| re: Where Does the Money Go? poker Quote:
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In the stock market, sure, your investments may lose value, but you wouldn't expect your brokerage to be spending your money on themselves or their business expenses without some government protection of your funds. I think our U.S. leaders should get it together and accept online poker -- legalize it, regulate it, and collect taxes from it. That would make everyone happy, except maybe some of the poker sites, although it would open the market up to others that are afraid to do business with the U.S. now. |
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| http://www.pokerstars.com/poker/real-money Quote:
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| re: Where Does the Money Go? poker Quote:
They wanted to invest their savings and asked their bank managers for a safe way of doing so. They were persuaded to invest in Lehmann certificates - (I never considered them to be safe but what do I know...) and lost it all. In germany there is something similar like the FDIC called BAFIN. They guarantee an insured amount of 20K € for each account, the rest is gone. The tax-payers in germany will have to shoulder 112-400 billion € over the next years to save our financial system - to whose benefit ? I didn't want to steer this thread into another direction - sorry if I did. |
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| Banks lost a lot of money for dutch people who invested in an Icelandic bank (think IceSave). Most poker rooms keep there clients money in a separate bank account and do not use it to spend on costs and such. I know for a fact full tilt and pokerstars do. They do get interest on your money tho, i think they will use the interest for costs, but im not sure... |
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Number of Posts: 13
Number of Authors: 6