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).

AZK · #3 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 · #4 08-06-2005, 01:11 PM

[ 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.

AZK · #5 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 · #6 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.

autobet · #7 08-06-2005, 02:13 PM

It is scary. There was a guy who had his account hacked (his password was similar to his screen name ) and he lost all his money ($600). Party told him sorry, nothing they could do.

But like you said, if you want to play high stakes what else are you going to do?

Probably balancing the money between the sites you play and Neteller is best.

ahnuld · #8 08-06-2005, 03:05 PM

I normally play 400nl so I keep about 7-10 buyins. Depends on how many tables you play at once but if you pay 3-4 then 10 buyins should be fine and the rest can be safly kept at neteller.

edge · #9 08-06-2005, 03:09 PM

I keep less than 10 buy-ins on the site and about 25 in Neteller. I'd prefer to keep my extra in an interest-giving account, but if I move my money back and forth from Neteller, I lose on the exchange rate.

yvesaint · #10 08-06-2005, 03:53 PM

[ QUOTE ]
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.

[/ QUOTE ]

I sure hope you got that 20k back somehow, because that hurts. I should probably consider moving money to another site too, I've got 2k sitting on Prima ...