So what do you guys think about this UB tournament?

[NorthernGuy]

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As an off-shore venture UB (and all the other sites as well) can pretty much do what they want to. Imagine UB closing down and keeping the deposited funds. Good luck retrieving them.

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For a site with a large number of players, it would be against their best interest to fold and run with the money, since their daily revenue/profit is likely quite high. If they had a small player base, I wouldn't be surprised (such as Poker Mountain).