Poker sites invest money?

[mikeyp]

Right now on Party Poker, I am sure there is millions of dollars. Do you think that Party invests some of this to genereate even more money ?

[Alobar]

duh [img]/images/graemlins/smile.gif[/img]

[icepick]

No, they convert it to nickles and store it like Scrooge McDuck:

[mikeyp]

Sorry, I guess it was a dumb question... I was just curious. Party is a gold mine.

[El Barto]

[ QUOTE ]
Right now on Party Poker, I am sure there is millions of dollars. Do you think that Party invests some of this to genereate even more money ?

[/ QUOTE ]

What better investment could they make than advertising, bonuses, and other traffic building attempts?

[cbfair]

You can bet on it. I'm no attorney or banker but I believe US banks are required to keep less than 20% of their total deposits on hand (I think its actually 9-12%). Party Poker is not subject to FDIC reserve requirements and may keep less than that.

[mikeyp]

Yeah you are right. Banks only have to keep a tiny percentage of the money on hand. That is why if you have a large balance and wish to withdraw it that you may have to wait a few days.

[icepick]

FDIC? Party? Ha!

They ain't no bank. They could invest every dime if they chose to.

[Alobar]

LOL!!!!

[sfer]

Any bank with access to Fed Funds--which translates roughly into any US bank--can have basically whatever money they want within a day. They make you wait for large transactions to (1) do a rudimentary fraud check and (2) earn the float for a couple of extra days.