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Server Time: 3/11/2010 11:04:55 AM PACIFIC |
 Security of Online Poker, beigs, 9. Jun 2003 14:44 | ||
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| I was just reading an article about Online Sportsbooks and how even the largest most reputable books stiff people out of their money. There were stories about somebody placing a football bet early in the week. As the week went on, the line went up. Then, the day before the game, the sportsbook canceled the bet because they were too certain that the bettor would win and that he must have had inside information to bet when he did. He was basically told to take his money back and shut up or not get paid at all. There are many more stories like this involving sportsbooks. I don't know if they're true or not, but I'm concerned about the legitimacy of online poker sites. While I have a very paltry sum invested in Ultimate Bet, I am concerned about what keeps these sites from either a)shutting down and keeping money that has been deposited or b) failing to secure themselves in case a huge rush of people withdraw cash all at once. I know that, unlike sportsbooks, the total amount of cash deposited is the maximum amount that can be removed (after the rake), but is that enough for these rooms to be considered totally legit? Thanks for your thoughts, Beigs PS I'm not that skeptical. I'd just hate to have all the fun I've been having be negated. | ||
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| Re: Security of Online Poker, LJH, 9. Jun 2003 19:36 | ||
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| WHY DO YOU WORRY. THE ONLINE GROUPS ARE OK YOU WILL GET YOUR MONEY WHEN YOU WANT IT. STOP LISTENING TO ALL THOSE CRAZY STORIES ABOUT SPORTS BOOKS, ETC. LJH | ||
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| Re: Security of Online Poker, stdioh, 10. Jun 2003 12:00 | ||
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| Generally speaking, the online sites are supposed to keep money deposited on account and available...they only draw profit out off the rake, so if everybody takes their money out at once, they should be able to pay everybody. As for shutting down and keeping the money, I guess that is a risk, but if they are making a lot of profit doing legitimate business, it is against their interest to do this. I'd say that as long as you stick to a reputable site that is making a profit you are pretty safe. I shall mention that Victor Chandler Poker www.vcpoker.com stiffed me out of my money when I tried to withdraw from them after winning a freeroll and *not* playing the money on their site. I never saw a nickel of that, but then again they are a little unknown site, so it makes sense. | ||
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