Tapie to Open New Poker Site and Hire FTP Employees?

Debi

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An interesting article published at Diamond Flush Poker reported that Tapie sent an email to key employees of FTP offering them employment at a new poker site he intends to launch.

The new site would reportedly lure ROW FTP players by allowing them to recover their lost balances if they join the new site.

Additional details are provided on why the deal with the DOJ fell through.

Here is a link to the full article:

http://diamondflushpoker.com/2012/05/new-plans-for-tapie-and-online-poker/
 
beardyian

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Still wouldn't trust Tapie with a penny of investment - but would happily sign up, claim my monies and leave quickly again ;)
 
WVHillbilly

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So wonder what this means for the rumored Star/FTP deal? I mean would he "offer" RoW players their funds to play through if they are already paid by Stars?
 
Deco

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What does RoW stand for?
I suspect the leaking of this email will be the downfall to Tapie's plans.

Maybe I'm not grasping the situation but would getting Ray to apply for insolvency mean goodbye FTP moneyz? Also wondering were the Stars purchase fits in to this. Surely if stars has bought FTP Ray or Tapie don't have the power to declare bankruptcy.

Intresting article, first one I've seen with actual information rather than endless speculation and meaningless FTP statements.
 
Deco

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So wonder what this means for the rumored Star/FTP deal? I mean would he "offer" RoW players their funds to play through if they are already paid by Stars?

Looking round this email was sent the day before or the day after reports of pokerstars buying FTP began to come through.

<utter speculation>

Perhaps this was leaked to pokerstars prior to being leaked to the public. It would be in their best intrests to step in as if FTP players were to go unpaid faith in online poker as a whole would drop and even pokerstars would feel the affects.
</speculation>


As an aside I think the DOJ is completly in the right to knock back Tapies payment plan. The way the plan is so harsh on the top 5% of balances makes me have little doubt the email is authentic.
 
Deco

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Did US money not get a mention at all in that email?
 
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Did US money not get a mention at all in that email?

Not that I saw. This is strictly for the RoW players. Unsure what this means and how, if at all, it'll infleuence anything in the works between PS/FTP/DoJ.
 
Deco

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If some RoW players needed to wait 5years playing on their site before they earn their money back it fares very badly for lower priority US players who aren't even potential customers.
 
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If some RoW players needed to wait 5years playing on their site before they earn their money back it fares very badly for lower priority US players who aren't even potential customers.

Agreed. I was thinking more like how it'll affect the negeotiations since, presumably one of the big incentives for PS to do the deal with FTP/DoJ is the ready pool of FTP players with money locked-up on the site. If this new GBT deal happens and lures those players away...... just sayin'.
 
tenbob

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TBH its pretty easy to give players "balances" with a play-through requirement and still turn a nice profit. I remember years ago when i was having trouble getting RB at Full Tilt, they just gave me a $10K non-expiring bonus that releases in $10 increments depending on play. I'm pretty sure this is what would be done.
 
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TBH its pretty easy to give players "balances" with a play-through requirement and still turn a nice profit. I remember years ago when i was having trouble getting RB at Full Tilt, they just gave me a $10K non-expiring bonus that releases in $10 increments depending on play. I'm pretty sure this is what would be done.

Yeah, that makes sense. Give them all a "balance" but require a ton of play-through......
 
Charade You Are

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As an aside I think the DOJ is completly in the right to knock back Tapies payment plan. The way the plan is so harsh on the top 5% of balances makes me have little doubt the email is authentic.

Especially considering that the bottom 95% of balances were under $100.:eek:

5.1% of players had balances > $100:

$100.01-$500 “standard players”

< $ 10,000 “silver players”

> $ 10,000.00 “gold players”

...and, according to Diamond Flush, they wouldn't have their full balance available even for playthrough requirements and would probably have to deposit in order to play the stakes they were accustomed to. Horrible!

I can see GBT needing to mitigate the impact of mass withdrawals, but an element of fairness to the "top" 5.1% seems to be missing.
 
hackmeplz

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gbt such shady pieces of shit
 
tenbob

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Yea its creative accounting at its best.

I have at least 10 people i know that dont play poker, bitch about their FTP balances all under $50, with no intention of ever playing again, or bothering withdrawing. The vast majority of balances are of players that couldnt give a rats.

So paying 95% of players is a great media sound-bite, whilst leaving 90% of the money with a playthrough requirement is the best deal ever, hell I could even see an Irish bank biting at that one.
 
pfb8888

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TBH its pretty easy to give players "balances" with a play-through requirement and still turn a nice profit. I remember years ago when i was having trouble getting RB at Full Tilt, they just gave me a $10K non-expiring bonus that releases in $10 increments depending on play. I'm pretty sure this is what would be done.
nice...did you clear it all?
 
tenbob

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Nope, but it essentially added rakeback to my account.
 
Deco

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Especially considering that the bottom 95% of balances were under $100.:eek:

Wow thought it would be low but not that low. His alternate site would likely offer more of the same. My trust in the DOJ has risen whilst Tapie doesn't seem a good option at all now.

I hope pokerstars could pull off that 90days to pay everyone off standard the DOJ has set. I wonder if they'd have the money to pull that off. I'd certainly trust them more than Tapie as they have a reputation to keep.

Having said that either option is highly preferable to losing my money. :p
 
Suited Frenzy

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Interesting article
 
fletchdad

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.

Having said that either option is highly preferable to losing my money. :p

Where is the smile where I bow down to this comment????

I am getting dizzy, I wrote my $s off, had hope again, wrote them off again, got renewed hope.......

"headspinning smiley"
 
C

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Don't see how this is really related to Fulltilt Balances.
Whoever buys FT, possibly pokerstars, will repay the balances (maybe).

This looks more like marketing a little twist on bonuses and rakebak.

But without the co-operation of FT I don't see how they would get access to account balances anyway.
 
Deco

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Don't see how this is really related to Fulltilt Balances.

We reading the same article? Cliffs:




DOJ Repayment Terms.
GBT would repay 100% of the 184M$ value of ROW players balance in a maximum of 90 days.
Tapie Repayment Terms
we would have repaid (allowed withdrawal of funds for) 94.9% of ROW players day 1, 4.9% of ROW players in 18 months and only 0.2% of these players in more than 18 months, with a maximum of 5 years for the very large balances.
 
pfb8888

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18 months... 5 years...what if they go under before then? scam
 
C

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Tapie Repayment Terms
"we would have repaid" Lemmings:

That Deal is dead now though so it is irrelevant what they would have done.

What he is apparently now doing is trying to acquire former fulltilt staff.
And saying former fulltilt players can get their former fulltilt balances back from his new site.
But he has no way of knowing what those balances were unless the staff he poaches bring the databases with them.
So what is he really doing now?
 
Charade You Are

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Tapie Repayment Terms
"we would have repaid" Lemmings:

That Deal is dead now though so it is irrelevant what they would have done.

What he is apparently now doing is trying to acquire former fulltilt staff.
And saying former fulltilt players can get their former fulltilt balances back from his new site.
But he has no way of knowing what those balances were unless the staff he poaches bring the databases with them.
So what is he really doing now?

The his new plan seems pretty sketchy to me. It's contingent on ALL the employees of PK's taking his offer-what are the chances of that?

I would guess he probably already has the players info--and that kind of irks me. Based on his previous offer, I'm sure the playthrough requirements will be onerous.
 
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