Interesting just how many threads there are in different places about sites, like FT, having problems paying customers. Especially since they take their rake - instantly.
Processor this, processor that, fingers pointing everywhere.
These sites make buckets, truckloads and trainloads of cash on a daily basis. Could one of the 'real' reasons be the old 'living beyond their means' explanations?
Anyone want to venture a guess on how much they spent with every expense of the
wsop that recently ended (for now) ? Expenses, reps, 'executive' travel, media ads, buy-ins, sponsorships, apparel, and the monstrous list goes on. I'll bet they don't reserve rooms at Motel 6. This is no chump change outlay.
poker sites claim profits and customer funds are kept separate, and they should be. Enron told investors that their funds were abundant too ...
They just couldn't find them when someone went to look.
If it were simply a matter of paper processing problems, and with the current abilities of financial institutions for near immediate funding and transfers, would you make YOUR customers wait for their cash while pointing an empty finger elsewhere? If I had millions of dollars of my customers' funds at stake, my reputation and my future earnings, you can bet if it were
no fault of mine, heads would be rolling. The incompetent ones telling you your cash will be dealt with 'soon' - would be in the unemployment line 'now', not in two months.
Just my 2 cents on where the real cash is at. Keep feeding those rakes folks ...
