New UB Bonus

[nicky g]

That's an interesting point - do poker sites work like banks, in that they only have a fraction of the money invested with them ready to return, or do they simply hold your money for you? Surely it's at least supposed to be the latter, even with the lack of regulation. If it's the former I would seriously reconsider playing online - at least a bank pays you interest to compensate for the small risk of going broke. They're not supposed to be investing the money, simply profiting from the rake. In fact, I'm pretty sure I would quit if I found out that a "run on the bank" style scenario was possibile.

[lunchmeat]

A site called Pokerspot was budgeted on players' funds despite saying that they didn't do that. When it went bust all of the players lost their money, although the management made out just fine. The CEO of Pokerspot was Dutch Boyd, whose name you might recognize from the innocent profile pieces ESPN ran on him during their coverage of the WSOP. Of course, ESPN left out the part about Boyd being online poker's equivalent to Enron CEO Ken Lay.

[nicky g]

Yes, I remember. I'd rather hoped that was a one-off. This is from the Kanahwake Gaming Comission Regulations which regulates UB:

"152: The licence holder or authorized client provider must not have recourse to funds in a players account" (then lists a few exceptions).


I've no idea of its legal status or powers.


On a different note: how long do people think the max bonus would take to clear playing $2/4 6-handed?

[PlayerA]

Cool beans. I hadn't checked email yet (so thanks for post, don't get home email while at work [img]/images/graemlins/wink.gif[/img] ). Anyhow, just put in $200 and have $100 pending. I played there last night and it seemed smooth to me. Still lots of players too. They also have the details on their site.

[tiltboy]

I had forgotten I had about $30 in uncleared bonus money at UB when I redeposited the $200 to get $100 in bonus money. The existing bonus is just added to your new bonus so its not possible to tell whether you are clearing the old or the new bonus (nor does it matter I would think).

[Inthacup]

Just an update for everyone:

I've emailed several people I know within UB and hope to have a definite answer on the first time/reload bonus issue. I'll let you guys know as soon as I hear anything.

Cup

[La Brujita]

I am glad they did this. I took out my money a few days ago and now will churn it. I have cleared two $100 bonuses at UB. I don't know how many hours exactly it will take you but imo UB is the second easiest place to clear a bonus (after Party and its skins). If you put your mind to it you could do it in 2-3 days.

[Prickly Pete]

I have about $2 of pending bonus from a previous deposit. My plan was to pull out most of my $ from UB at this point. Now I see the 50% bonus and would like to do this.

Does anyone know for sure if my withdrawing & redepositing will void the 50% bonus? Alternatively, what if I first deposit the $200 and then withdraw what I was going to withdraw (still leaving over $200 there)?

[Inthacup]

Read Tiltboy's post higher in this thread. It should be a problem if you just deposited $200 more.

[J.R.]

UB's problems seem to come from the enourmous torunament traffic they generate, as they offer small buy-in big bet holdem tourneys every hour or two that attract the WPT and WSOP TV crowd.