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Can you trust Fulltiltpoker?
Posted: Fri May 02, 2014 8:05 pm
It seems like any poker pro is staying away from this brand and they really dug themselves into a hole when black friday took down the site. The owners didn't really have much money needed to handle the mass requests of withdrawals. They lost their gaming license very quickly and were basically dead for a good year.
Now the company seems controlled by PokerStars but many players were upset at how the fulltilt situation was handled with too many players not getting their money.
Would you trust this company again?
Posted: Fri May 02, 2014 8:44 pm
Na deffo wouldn't trust again especially with it being a big company ,there's a few sites on the accredited list even that i wouldn't entertain due to there past ,and i no everyone deserves another chance but for some of the things they do you just cant trust again ,whos to say the same wont repeat itself , its the same with crooked bookies from years ago they done some shady stuff and now they have everything , casinos/pitches at all major horse racing meetings etc etc.
And while these company's make millions there's people had to go under due to there actions so if they go on to ruin someones livelihood or business and then start over themselves to be successful why don't they fix there wrongs from the past ..If they did that (fixed there wrongs from the past) then yea give them another shot but if not then simply no chance (hope that makes sense a few to many before posting hic hic )
Posted: Mon May 05, 2014 9:22 am
My understanding of what happened with FullTilt is limited, but my immediate reaction would be 'No'. More than that, it would be 'why would you?'
I can't remember the details of whether or not FT actually repaid all their players in the end, but the bottom line for me is that when everything went wrong the first people that FT started stiffing were players. That's unforgivable. They crossed a line at that point - the people that they should have been protecting first and foremost were the first in the firing line.
If I'm remembering right the whole issue came about because the owners were dipping into play funds. In any well operated online gambling business player balances should always be held separately to company profits and should not be touchable. To use a common political term 'ring fenced'. With poker as long as you do this you're running a 100% safe business - the players play against each other so there's no risk of a player winning big and hurting you. Now this doesn't happen nearly enough in the online gambling field, far too many groups will use player funds as a capital investment assuming that there's a limit to how many players will chose to withdraw their funds in one go. This can lead to a similar situation to a 'run on the bank' when information gets out that casts doubt on the stability of the poker room, suddenly lots of players want to withdraw in a short space of time leaving the poker room unable to meet demand quickly and the delays only serve to amplify the drop of confidence and more players then want to get their money out.
If I'm remembering correctly the money was simply being dumped into the pockets of the owners anyway, so it's not like there was an appropriate business need behind the under capitalisation either.
So when there are plenty of reputable rooms out there that don't have this history I'd again go back to the question - why would you play with FullTilt?
Posted: Mon Jun 09, 2014 12:51 pm
Poker got boring very quickly with Black Friday. Just was never the same after that as no American players to play against and the rest of Europe that changes with regulations, it just isn't stable anymore and who knows if it ever will be. It would be nice to have all players around the world to participate but seems like that will never happen again.