#1
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Money on deposit - safe?
I am wondering about what the poker sites are doing with my money while it is on deposit.
How much capital on deposit does a major poker site have? How is it invested? What happens if there is a "run" on the site, and more withdrawals are requested than a site has in capital? Is there any reserve requirement? I assume not because we are talking about an entirely unregulated system here, correct? Is there any recourse available to a player if a site does not honor the redemption requests? Do the terms of the agreement with the player and the site make any legally binding guarantees, enforceable in any jurisdiction? I guess what I'm wondering is whether online poker destined for some crippling publicity when one of these sites "blows up" financially. |
#2
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Re: Money on deposit - safe?
All funds at risk all the time.
Don't play if you can't take the loss. |
#3
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Re: Money on deposit - safe?
Most places state that they keep 2 accounts, one with player money, and one with their take from rake and fees.
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