How much of our money does Party have??

[Pretzel]

Long time lurker making my first real post.

I was just thinking today about how much money Party poker has that are deposited funds from their players. If there are sometimes 6-9,000 people playing, then i would estimate that there are at least 20,000 with accounts. If the average bankroll is $500 (total guess by me on both numbers), then party would have $10 million on hand at any one time. How much of that do you think they keep for cashout payments? What do they do with the rest of it?
Just curious.

Pretzel

[dink]

Damn,
that is a lot of dosh, are they worried about break ins like oceans 11?????
I wonder what sort of security they have in place????
/forums/images/icons/cool.gif

[yct]

$10 million in deposit may be the conservative estimate. A while back ago, someone's done some calculation that party is making about $1 million dollars per day in rake, so I think they may have more than $10 million in reserve.

[jasonHoldEm]

Interest

That's why this form of poker (online) is so profitable. Not only is there no need for them to have dealers, tables, cards, chips, etc (typical B&M stuff), but because their players must essentially keep an account at their site to play they can generate additional interest from the player's bankroll funds. I'm sure they keep a certain percentage liquid (cash) and the rest is "in the bank" generating interest for the site.

Wish I would of thought of it.

jHE

[GrannyMae]

i beleive your figures are too high.

i have heard, and trust the source, that the player deposits on any given day are slightly over 1.5 million, give or take 300k.

these figures do NOT take into account the few players that have large cash there from being grandfathered in by the "junk bond rates" they have been earning from the inception of the site. however, i think you would be suprised by how much these larger certificates of deposit have shrunk, and how few people still have those excessive rolls there.

otoh, the deposits on a given day at paradise supposedly exceed this amount substantially, even though there are currently less players.

[thomastem]

They even keep my chickens for me.

[Aceshigh7]

I wouldn't be suprised if their player cash reserves were over 5 million... Just go to the $15/$30 games and regularly see guys with $10,000 or more at the table.

Is Party still supposedly paying 10% interest on player account balances? I haven't heard anything about that in awhile.

[MS Sunshine]

Live or frozen?

MS Sunshine

[jasonHoldEm]

Granny,

Good to see you're back...I sent you an email a couple days ago, let me know if you got to it yet.

/forums/images/icons/smile.gif
jHE

[yct]

1.5 million sounds too low. Lets assume they only have 5000 real money players. With 1.5 mil, that means each person only averages $300 in deposit. I think this figure is too low.

Didn't even the bankrupt site PokerSpot had like $700k in deposit when they went under?

[offTopic]

Is Party still supposedly paying 10% interest on player account balances? I haven't heard anything about that in awhile.

AFAIK, yes. (taken from their website)

To be eligible to qualify for the special bonus, you must meet the following conditions:
- Your cashier balance on any day of the month must be at least $200.
- You must play a minimum of 200 raked hands in the month.
- You must have less than three cash outs in the month. Please plan your cash-outs carefully!
- The maximum average daily balance for calculation of the special monthly bonus is $ 10,000.

Additionally, you have to have had a cash account prior to 2/03.

[yct]

- The maximum average daily balance for calculation of the special monthly bonus is $ 10,000.

In the beginning they didn't have the rule above. I wonder if in the past some rich person had put a few million dollars in party to earn their high interest, so they had to set the limit to 10k only... hehe...

[GrannyMae]

1.5 million sounds too low. Lets assume they only have 5000 real money players. With 1.5 mil, that means each person only averages $300 in deposit. I think this figure is too low.

let me clarify again that all of my statements are from second hand info. however, going with your figures above, imo the number is not too low.

if there are 5,000 real money players, there is a HUGE amount of those 5,000 players that are low limit players whose BR's can vary from $3 to $100. these lower limit players with smaller bankrolls drive those averages wayyyy down.

Didn't even the bankrupt site PokerSpot had like $700k in deposit when they went under?

maybe john can tell us the figure, but he was the biggest creditor of pokerspot by FAR, and he was out 56k. what i am saying is that i don't beleive the figure of $700k is correct. i think it is too high.

[GrannyMae]

They even keep my chickens for me.

you have a chicken fetish, huh? colonel sanders must be like a guru for you.

http://users.telenet.be/eforum/emoticons4u/violent/sterb105.gif

[GrannyMae]

I sent you an email a couple days ago, let me know if you got to it yet

sorry jason (and anyone else that wrote). i lost a full week of emails at the pokergrannymae@aol.com addy, so anyone i did not respond to, please resend.

[mostsmooth]

why does their software and support suck so bad with all this cash?

[yct]

Other Information (PokerPulse Estimates)
24-hr EMREH 195816
24-hr Ring Game Pots $11,206,685

I got the numbers from pokerpulse, so the estimated rake for party is close to $200k per day? If there's only 1.5 mil in deposit, I think that money would be drained up pretty fast, wouldn't you think?

[GrannyMae]

I think that money would be drained up pretty fast, wouldn't you think?

first, it *does* get drained very quickly.

however, i REALLY regret making the original post. i was just passing on speculation to further the discussion. i have said 3 times in this thread, and a dozen times in emails that this is numbers that were told to me, so it is nothing but second hand info.

i could go into a long discussion of the numbers you have provided from poker pulse that would strenghten my original numbers as well, because these figures are very subjective and open to alot of arguments regarding their validity and criterion used to generate them. (ex.. how much of the handle provided was from rake free pots? this is just one argument of many for my original figures)

anyway, i'm not getting snotty here yct, it's just that i have gotten more feedback from this post privately than anything else i have ever said here, including people who constantly email me to tell me i am disrespectful to mason in my sexual innuendo.

the point is that i don't want to champion these figures or continue to defend my estimates because i really don't care. this thread has given me a nightmare, and it is all my own doing, but i'm backing outta it.

we agree to disagree, cool?

http://smilies.sofrayt.com/%5E/a/bye.gif

[yct]

it's just that i have gotten more feedback from this post privately than anything else i have ever said here,

lol, didn't know this thread was that popular here... /forums/images/icons/shocked.gif

this thread has given me a nightmare, and it is all my own doing

heh. well, neither of us have the real numbers, so we are just having fun by making some educated guesses. not like the rake money is going into our pockets anyways. we shall move onto other better topics. /forums/images/icons/smile.gif

[GrannyMae]

lol, didn't know this thread was that popular here...

i did not think it was either. then all of a sudden, every human i was in contact with lately ended the email or phone with, "btw, i think you are wrong about the deposits on hand"

they like calling me st00pid.... yours was the most polite so far.. well, actually jimbo was not too harsh (but only because he is scared of me)

so there we have it ! it's a tie!!

i'm delighted

http://smilies.sofrayt.com/%5E/h0/jump.gifhttp://smilies.sofrayt.com/%5E/h0/jump.gifhttp://smilies.sofrayt.com/%5E/h0/jump.gif

[yct]

actually jimbo was not too harsh (but only because he is scared of me)

jimbo, is that true? /forums/images/icons/grin.gif

[Jimbo]

jimbo, is that true?

You bet your bippy it is true! You ever piss off a Grandma before? It is not a pretty sight! LoL

[GrannyMae]

SEE ?

http://e4u.deltait.com.au/dressed/bek196.gif

[RollaJ]

Thats gross, who gave Granny that pearl necklace??? /forums/images/icons/shocked.gif

[GrannyMae]

......who gave Granny that pearl necklace???

Granny LOVES pearl necklaces. i got one from my very special Pooh-Bah the other night.

http://216.40.249.192/s/contrib/geno/blowjob.gif

[offTopic]

In the beginning they didn't have the rule above. I wonder if in the past some rich person had put a few million dollars in party to earn their high interest, so they had to set the limit to 10k only... hehe...

PBOCOP on RGP has claimed to have had $100K on site there...his brother is/was a consultant for the site, so I guess he was reasonably sure the money was safe. $800+ per month in interest is no small potatoes...

[Zwiggelte]

i really don't know.. i like playing there because of all the fish. But the support is really bad..especially at Empire..
I guess Party poker has now 9.7 million in their bank.