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All it's going to take is one big name poker site to go busted and the party is over. Ask the employees of Enron if they thought their money and future was secure.
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I guess that explains why no one invests in the stock market any more. [img]/images/graemlins/confused.gif[/img]
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If anyone believes their bankroll is safe in one of these accounts is dreaming.
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You make it sound as if you are telling us something new. Anyone who has been around here a fair amount of time should have heard of
PokerSpot (ignore the first search result). A well-known 2+2 poster lost over 50K when that site went down.
The death of that site did not kill online poker. If it were Party Poker to fall, obviously it would be a different story, but I think they are in a much stronger financial position, regardless of the recent volatility in their stock price.
Another prominent 2+2 poster had one of his passwords stolen and most of his account gambled away by the perpetrator.
Things happen and those who are prepared and understand the risks can deal with them.
Anyway, my expected win each month is greater than my entire (minimum 500 BB) bankroll. How many B&M pros can say that? If my bankroll were gone tomorrow, I'd recover pretty quickly.
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Furthermore, rakeback is no sure thing for the long term, shills won't be in high demand, and bonuses will become harder to capture. Result? It will become more expensive to play.
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Once you start moving up, rakeback becomes a smaller and smaller percentage of your income. It helped a lot before, but if it were to disappear now, it wouldn't kill me. I haven't bothered with bonuses in a long time - it's just not worth the effort. I've never played as a prop or "shill".
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It won't take much before that super-live 15-30 game at the Wynn or the Bellagio 30-60 looks more appetizing than mutlitabling 30 games of 1-2.
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I'm only 4 tabling the 15/30, so I can't imagine this. I could change my mind someday, but I don't think I'd ever try to play live for a living. Getting 1/8th the hands per hour just is not very appetizing to me.