How much money should I keep online?

RollaJ · #1 08-06-2005, 08:50 AM

I recently started thinking that having all this money online can be a little dangerous. I generally play 2 tables at a time of 5-10 NL and usually buy in for $500 (to be discussed a different time). How much do you think I should keep on the site I play at most of the time, and how much at my back up site?

AEKDBet · #2 08-06-2005, 09:30 AM

I was wondering the same thing, but for tax purposes... hoping that I only had to claim winnings that came through a cashout (wishfull thinking I'm sure).

Jeffage · #3 08-08-2005, 02:34 PM

Money on deposit is taxable. Concealing it (though many do I'm sure) is fraud. I cash out everything in the last few days of December (into Neteller) so my records are transparent for tax purposes. That's me though.

Jeff

AZK · #4 08-06-2005, 01:07 PM

I had a minor episode about this as well as I got my account locked a few weeks ago with about 20k in it. I was not happy. This probably isn't going to make much sense, but I feel more comfortable keeping a lot of money on UB/stars/tilt, then I do on party/prima/pokerroom. It might just be that some of the pros are tied to the site, so in the event something happened, it's not just some random offshore site. This could also just be naive. Anyway, for two tables of 5/10 at 500 a piece, keep 5k on site, and keep th rest in neteller/firepay. This is what everyone tells me, but I don't even feel great having a lot of money in neteller (>20k) but if you want to play high stakes, which we do, there really is no way around it.

As for the other question, it's all offshore, you don't have to claim anything until you physically withdrawal, right? I'm new to this.

Yeti · #5 08-06-2005, 01:11 PM

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This probably isn't going to make much sense, but I feel more comfortable keeping a lot of money on UB/stars/tilt, then I do on party/prima/pokerroom.

[/ QUOTE ]

I completely agree. The smartest thing Party could do right now would be to get a Lee Jones-type figure onboard.

AZK · #6 08-06-2005, 01:13 PM

Exactly. It's not like any pro or lee jones would give a [censored] if something happened and I wrote/called to complain. But because they are professionals who live in America and I live in America, I feel more comfortable. It doesn't really make much sense.

Yeti · #7 08-06-2005, 01:17 PM

Just from reading Lee Jones' posts he comes across very well, open to ideas and suggestions. I'm sure if someone's account was unfairly locked with a large sum in then he would quickly do his best to help out.

The support on PS is ten times that of Party even w/o Lee.

Ulysses · #8 08-08-2005, 02:41 PM

[ QUOTE ]
[ QUOTE ]
This probably isn't going to make much sense, but I feel more comfortable keeping a lot of money on UB/stars/tilt, then I do on party/prima/pokerroom.

[/ QUOTE ]

I completely agree. The smartest thing Party could do right now would be to get a Lee Jones-type figure onboard.

[/ QUOTE ]

You guys understand that Party is a multi-billion dollar publicly traded corporation, right? It's by far the safest poker site to keep your money at. Stars is probably second safest, then UB.

slickpoppa · #9 08-08-2005, 02:43 PM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
This probably isn't going to make much sense, but I feel more comfortable keeping a lot of money on UB/stars/tilt, then I do on party/prima/pokerroom.

[/ QUOTE ]

I completely agree. The smartest thing Party could do right now would be to get a Lee Jones-type figure onboard.

[/ QUOTE ]

You guys understand that Party is a multi-billion dollar publicly traded corporation, right? It's by far the safest poker site to keep your money at. Stars is probably second safest, then UB.

[/ QUOTE ]

I think people are more worried about getting busted on some rakeback technicality and then having Dikshit jack their whole bankroll. The fact that Party is so huge doesnt really protect against that.

bobbysteels · #10 08-08-2005, 02:46 PM

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
This probably isn't going to make much sense, but I feel more comfortable keeping a lot of money on UB/stars/tilt, then I do on party/prima/pokerroom.

[/ QUOTE ]

I completely agree. The smartest thing Party could do right now would be to get a Lee Jones-type figure onboard.

[/ QUOTE ]

You guys understand that Party is a multi-billion dollar publicly traded corporation, right? It's by far the safest poker site to keep your money at. Stars is probably second safest, then UB.

[/ QUOTE ]

I think people are more worried about getting busted on some rakeback technicality and then having Dikshit jack their whole bankroll. The fact that Party is so huge doesnt really protect against that.

[/ QUOTE ]

what exactly do u mean by rakeback technicality