Title: Ivey Sues Tiltware Post by: NoflopsHomer on June 01, 2011, 05:51:56 AM Up on his Facebook page.
For many years, I have been proud to call myself a poker player. This great sport has taken me to places I only imagined going and I have been blessed with much success. It is therefore with deep regret that I believe I am compelled to release the following statement. I am deeply disappointed and embarrassed that Full Tilt players have not been paid money they are owed. I am equally embarrassed that as a result many players cannot compete in tournaments and have suffered economic harm. I am not playing in the World Series of Poker as I do not believe it is fair that I compete when others cannot. I am doing everything I can to seek a solution to the problem as quickly as possible. My name and reputation have been dragged through the mud, through the inactivity and indecision of others and on behalf of all poker players I refuse to remain silent any longer. I have electronically filed a lawsuit against Tiltware related to the unsettled player accounts. As I am sure the public can imagine, this was not an easy decision for me. Oh and James Bord was apparently giving John Juanda a load of abuse after he busted out of the $25k match. Pretty sure today won't be topped. Title: Re: Ivey Sues Tiltware Post by: cambridgealex on June 01, 2011, 06:04:46 AM Wow
Title: Re: Ivey Sues Tiltware Post by: JK on June 01, 2011, 06:29:14 AM Wow GTFO here and tell us the story!Title: Re: Ivey Sues Tiltware Post by: leethefish on June 01, 2011, 07:13:26 AM Title: Re: Ivey Sues Tiltware Post by: DaveShoelace on June 01, 2011, 07:38:39 AM Really starting to think FTP could be going down. Not because Phil Ivey is ditching them, more that the fact he is ditching them means he knows the gravity of the shit they are in (I also think Hellmuth and Duke must have had an inkling that the DOJ thing may have happened which prompted them to leave).
Title: Re: Ivey Sues Tiltware Post by: ACE2M on June 01, 2011, 08:00:53 AM wow. if hey weren't screwed before they are now, who in their right mind will deposit with them after reading that.
Title: Re: Ivey Sues Tiltware Post by: pleno1 on June 01, 2011, 08:08:21 AM Cliffs on Bord/Juanda?
Title: Re: Ivey Sues Tiltware Post by: pleno1 on June 01, 2011, 08:20:44 AM Also Ivey, never ever wanted to be in the public eye. 2 months before Black Friday he suddenly gets Twitter and his own website. Seems abit weird to me.
Title: Re: Ivey Sues Tiltware Post by: Rozza1 on June 01, 2011, 08:24:58 AM Also Ivey, never ever wanted to be in the public eye. 2 months before Black Friday he suddenly gets Twitter and his own website. Seems abit weird to me. Ivey has been on twitter for a few years. He had an assistant who tweeted his WSOP progress last couple of years. Title: Re: Ivey Sues Tiltware Post by: DaveShoelace on June 01, 2011, 08:29:32 AM Title: Re: Ivey Sues Tiltware Post by: gatso on June 01, 2011, 08:35:57 AM think you've overcliffed it tbh Title: Re: Ivey Sues Tiltware Post by: Ironside on June 01, 2011, 08:47:35 AM Fml my fantasy wsop captain quits under pressure
Title: Re: Ivey Sues Tiltware Post by: Royal Flush on June 01, 2011, 08:50:42 AM think you've overcliffed it tbh love it Title: Re: Ivey Sues Tiltware Post by: Amatay on June 01, 2011, 08:54:13 AM think you've overcliffed it tbh love it haha Title: Re: Ivey Sues Tiltware Post by: AndrewT on June 01, 2011, 09:56:44 AM Nick Rainey has been dishing dirt about Tilt on the QuadJacks podcast.
----------- Says he bought a 100% rakeback account from a Tilt employee for $10k + $2k a month - others were sold for up to $50k. Patrik Antonius had 40 accounts at Tilt (though PA multiple accounts had long been suspected) David Benyamine had up to $5m secretly funnelled into his account by an employee. He kept losing (obv). More and more money was given to him in order to try and get him out of it. eventually was discovered, employee was fired, and Benyamine was turfed out into the cold by Tilt for a while. Now Scott Matusow says that some of the accounts seized by the DoJ were accounts of top Tilt pros, one of which was Ivey's, hence Ivey's action today. ---------- Dramabombs much? Title: Re: Ivey Sues Tiltware Post by: mondatoo on June 01, 2011, 10:12:30 AM Nick Rainey has been dishing dirt about Tilt on the QuadJacks podcast. ----------- Says he bought a 100% rakeback account from a Tilt employee for $10k + $2k a month - others were sold for up to $50k. Patrik Antonius had 40 accounts at Tilt (though PA multiple accounts had long been suspected) David Benyamine had up to $5m secretly funnelled into his account by an employee. He kept losing (obv). More and more money was given to him in order to try and get him out of it. eventually was discovered, employee was fired, and Benyamine was turfed out into the cold by Tilt for a while. Now Scott Matusow says that some of the accounts seized by the DoJ were accounts of top Tilt pros, one of which was Ivey's, hence Ivey's action today. ---------- Dramabombs much? So 10k then. Title: Re: Ivey Sues Tiltware Post by: pleno1 on June 01, 2011, 10:16:15 AM geeeeeeeeg
http://forumserver.twoplustwo.com/29/news-views-gossip/nick-rainey-talking-candidly-about-ftp-quadjacks-1046107/ Title: Re: Ivey Sues Tiltware Post by: TightEnd on June 01, 2011, 10:25:28 AM http://philivey.com/
For many years, I have been proud to call myself a poker player. This great sport has taken me to places I only imagined going and I have been blessed with much success. It is therefore with deep regret that I believe I am compelled to release the following statement. I am deeply disappointed and embarrassed that Full Tilt players have not been paid money they are owed. I am equally embarrassed that as a result many players cannot compete in tournaments and have suffered economic harm. I am not playing in the World Series of Poker as I do not believe it is fair that I compete when others cannot. I am doing everything I can to seek a solution to the problem as quickly as possible. My name and reputation have been dragged through the mud, through the inactivity and indecision of others and on behalf of all poker players I refuse to remain silent any longer. I have electronically filed a lawsuit against Tiltware related to the unsettled player accounts. As I am sure the public can imagine, this was not an easy decision for me. I whole heartedly refuse to accept non-action as to repayment of players funds and I am angered that people who have supported me throughout my career have been treated so poorly. I sincerely hope this statement will ignite those capable of resolving the problems into immediate action and would like to clarify that until a solution is reached that cements the security of all players, both US and International, I will, as I have for the last six weeks, dedicate the entirety of my time and efforts to finding a solution for those who have been wronged by the painfully slow process of repayment. Title: Re: Ivey Sues Tiltware Post by: CelticGeezeer on June 01, 2011, 10:35:12 AM Tom Dawn's take "Yo @philivey poker isn't a sport... Rest of your statement is awesome though."
https://twitter.com/#!/Tom_Dwan/status/75839687587147777 (https://twitter.com/#!/Tom_Dwan/status/75839687587147777) Title: Re: Ivey Sues Tiltware Post by: paulhouk03 on June 01, 2011, 12:49:12 PM sigh gg tilt
i wonder why antonious has 40 accounts? does any one think texaslimitking was made up from full tilt to win money off players? does anyone think nick rainey is a complete cock Title: Re: Ivey Sues Tiltware Post by: dreenie on June 01, 2011, 01:20:52 PM Phil Ivey is my hero, and I want to have his babies....that is all...
Title: Re: Ivey Sues Tiltware Post by: Longy on June 01, 2011, 01:23:11 PM Ivey Ivey Ivey!
Also lol @ Nick Rainey, the guy is top class entertainment. Title: Re: Ivey Sues Tiltware Post by: bhoywonder on June 01, 2011, 01:56:02 PM So maybe the FBI is right.....gg online poker...
Title: Re: Ivey Sues Tiltware Post by: Hairydude on June 01, 2011, 02:19:07 PM Nick Rainey has been dishing dirt about Tilt on the QuadJacks podcast. ----------- Says he bought a 100% rakeback account from a Tilt employee for $10k + $2k a month - others were sold for up to $50k. Patrik Antonius had 40 accounts at Tilt (though PA multiple accounts had long been suspected) David Benyamine had up to $5m secretly funnelled into his account by an employee. He kept losing (obv). More and more money was given to him in order to try and get him out of it. eventually was discovered, employee was fired, and Benyamine was turfed out into the cold by Tilt for a while. Now Scott Matusow says that some of the accounts seized by the DoJ were accounts of top Tilt pros, one of which was Ivey's, hence Ivey's action today. ---------- Dramabombs much? So 10k then. If any of this is true doesnt it just back up why it should be legalised? so it can be properly regulated in the states? Title: Re: Ivey Sues Tiltware Post by: Ironside on June 01, 2011, 03:39:12 PM all sounds like bugsys but in a much grander scale
Title: Re: Ivey Sues Tiltware Post by: AndrewT on June 01, 2011, 10:00:57 PM Ivey sues for $150m
http://washingtonexaminer.com/news/2011/06/ivey-skipping-wsop-protest-full-tilt Title: Re: Ivey Sues Tiltware Post by: Solaris on June 01, 2011, 10:12:39 PM Anyone who thinks he has done this for anything but his own gain is crazy.
How does he think suing FT is going to help? Title: Re: Ivey Sues Tiltware Post by: Bongo on June 01, 2011, 10:28:06 PM He's the Robin Hood of poker LDO!
Title: Re: Ivey Sues Tiltware Post by: Delboy on June 01, 2011, 11:27:53 PM Anyone who thinks he has done this for anything but his own gain is crazy. How does he think suing FT is going to help? He needs to get out of the contract's 'no-competitor clause'. He is trying to clear his name by saying he was misled into believing FTP were legal He is showing unity with the FTP customers, by suing his friends and saying enough is enough! What's the problem doing it for his own ends? Title: Re: Ivey Sues Tiltware Post by: Delboy on June 01, 2011, 11:29:33 PM Here's the complaint
http://www.scribd.com/doc/56836292/Ivey-Tiltware-Complaint-060111 Title: Re: Ivey Sues Tiltware Post by: EvilPie on June 02, 2011, 12:49:19 AM wow. if hey weren't screwed before they are now, who in their right mind will deposit with them after reading that. ;indestructable; Title: Re: Ivey Sues Tiltware Post by: GreekStein on June 02, 2011, 01:10:21 AM wow. if hey weren't screwed before they are now, who in their right mind will deposit with them after reading that. ;indestructable; think ace2m meant who (with a realistic chance of ever cashing out a profit) would ever deposit with them Title: Re: Ivey Sues Tiltware Post by: titaniumbean on June 02, 2011, 01:14:58 AM wow. if hey weren't screwed before they are now, who in their right mind will deposit with them after reading that. ;indestructable; think ace2m meant who (with a realistic chance of ever cashing out a profit) would ever deposit with them baaaaaaam. nh geeeeeeeeg Matt. Title: Re: Ivey Sues Tiltware Post by: leethefish on June 02, 2011, 07:59:12 AM seems like its goodbye full tilt
Title: Re: Ivey Sues Tiltware Post by: smashedagain on June 02, 2011, 09:35:17 AM Lose a poxy flip and it's gtfo Howard. Now he has proper done some of you and you meekly protest. Come on let him have it with both barrels. The whole family are wrong uns especially that sister of his. Bet dan negreanu is laughing his cock off. God bless Canada
Title: Re: Ivey Sues Tiltware Post by: AndrewT on June 02, 2011, 09:48:17 AM Tilt respond.
------- Subject: TILTWARE’S RESPONSE TO THE PHIL IVEY LAWSUIT “Contrary to his sanctimonious public statements, Phil Ivey’s meritless lawsuit is about helping just one player – himself. In an effort to further enrich himself at the expense of others, Mr. Ivey appears to have timed his lawsuit to thwart pending deals with several parties that would put money back in players’ pockets. In fact, Mr. Ivey has been invited -- and has declined -- to take actions that could assist the company in these efforts, including paying back a large sum of money he owes the site. Tiltware doubts Mr. Ivey’s frivolous and self-serving lawsuit will ever get to court. But if it does, the company looks forward to presenting facts demonstrating that Mr. Ivey is putting his own narrow financial interests ahead of the players he professes to help.” Title: Re: Ivey Sues Tiltware Post by: kinboshi on June 02, 2011, 09:52:37 AM He certainly didn't consider the full implication of his actions, did he? He didn't stop and think about the ramifications his statements and subsequent withdrawal from the WSOP would have on the blonde WSOP sweepstake.
Title: Re: Ivey Sues Tiltware Post by: AndrewT on June 02, 2011, 09:55:39 AM He certainly didn't consider the full implication of his actions, did he? He didn't stop and think about the ramifications his statements and subsequent withdrawal from the WSOP would have on the blonde WSOP sweepstake. Think Tighty should probably launch a countersuit. If only for the publicity. Title: Re: Ivey Sues Tiltware Post by: Ironside on June 02, 2011, 09:56:43 AM He certainly didn't consider the full implication of his actions, did he? He didn't stop and think about the ramifications his statements and subsequent withdrawal from the WSOP would have on the blonde WSOP sweepstake. Think Tighty should probably launch a countersuit. If only for the publicity. he could use bobby hm on a no win no fee bais Title: Re: Ivey Sues Tiltware Post by: tikay on June 02, 2011, 10:25:18 AM Tilt respond. ------- Subject: TILTWARE’S RESPONSE TO THE PHIL IVEY LAWSUIT “Contrary to his sanctimonious public statements, Phil Ivey’s meritless lawsuit is about helping just one player – himself. In an effort to further enrich himself at the expense of others, Mr. Ivey appears to have timed his lawsuit to thwart pending deals with several parties that would put money back in players’ pockets. In fact, Mr. Ivey has been invited -- and has declined -- to take actions that could assist the company in these efforts, including paying back a large sum of money he owes the site. Tiltware doubts Mr. Ivey’s frivolous and self-serving lawsuit will ever get to court. But if it does, the company looks forward to presenting facts demonstrating that Mr. Ivey is putting his own narrow financial interests ahead of the players he professes to help.” Andrew, please tell me that's a level? Title: Re: Ivey Sues Tiltware Post by: RED-DOG on June 02, 2011, 10:25:52 AM He certainly didn't consider the full implication of his actions, did he? He didn't stop and think about the ramifications his statements and subsequent withdrawal from the WSOP would have on the blonde WSOP sweepstake. Think Tighty should probably launch a countersuit. If only for the publicity. he could use bobby hm on a no win no fee bais You could be a lawyer Iron. Have you ever considered passing the bar? Title: Re: Ivey Sues Tiltware Post by: Ironside on June 02, 2011, 10:27:45 AM He certainly didn't consider the full implication of his actions, did he? He didn't stop and think about the ramifications his statements and subsequent withdrawal from the WSOP would have on the blonde WSOP sweepstake. Think Tighty should probably launch a countersuit. If only for the publicity. he could use bobby hm on a no win no fee bais You could be a lawyer Iron. Have you ever considered passing the bar? Title: Re: Ivey Sues Tiltware Post by: RED-DOG on June 02, 2011, 10:29:00 AM He certainly didn't consider the full implication of his actions, did he? He didn't stop and think about the ramifications his statements and subsequent withdrawal from the WSOP would have on the blonde WSOP sweepstake. Think Tighty should probably launch a countersuit. If only for the publicity. he could use bobby hm on a no win no fee bais You could be a lawyer Iron. Have you ever considered passing the bar? That's a great qualification for a lawyer. Put it on your CV. Title: Re: Ivey Sues Tiltware Post by: Ironside on June 02, 2011, 10:31:56 AM citreon CV?
Title: Re: Ivey Sues Tiltware Post by: RED-DOG on June 02, 2011, 10:35:18 AM Just stop now. I don't know if you're levelling me or what.
Title: Re: Ivey Sues Tiltware Post by: AndrewT on June 02, 2011, 10:38:29 AM Tilt respond. ------- Subject: TILTWARE’S RESPONSE TO THE PHIL IVEY LAWSUIT “Contrary to his sanctimonious public statements, Phil Ivey’s meritless lawsuit is about helping just one player – himself. In an effort to further enrich himself at the expense of others, Mr. Ivey appears to have timed his lawsuit to thwart pending deals with several parties that would put money back in players’ pockets. In fact, Mr. Ivey has been invited -- and has declined -- to take actions that could assist the company in these efforts, including paying back a large sum of money he owes the site. Tiltware doubts Mr. Ivey’s frivolous and self-serving lawsuit will ever get to court. But if it does, the company looks forward to presenting facts demonstrating that Mr. Ivey is putting his own narrow financial interests ahead of the players he professes to help.” Andrew, please tell me that's a level? Nope - things gonna get messy. http://uk.pokernews.com/news/2011/06/tiltware-issues-statement-addressing-phil-ivey-s-lawsuit-6674.htm As Barry Carter said on Twitter, this shows that Tilt can respond to something quicker than 28 days when they want to. Title: Re: Ivey Sues Tiltware Post by: Redbull on June 02, 2011, 10:47:55 AM Warning: fruity language.
http://www.youtube.com/watch?v=e3XEfcBQyy4&feature=player_embedded Title: Re: Ivey Sues Tiltware Post by: DaveShoelace on June 02, 2011, 11:08:26 AM Warning: fruity language. http://www.youtube.com/watch?v=e3XEfcBQyy4&feature=player_embedded Im not into all this 'micros' shit and this music guy, but that was superb Title: Re: Ivey Sues Tiltware Post by: smashedagain on June 02, 2011, 11:14:40 AM Think dik9 posted it on Facebook this morning. Wish I was capable of stuff like that . It's the business
Title: Re: Ivey Sues Tiltware Post by: TommyD on June 02, 2011, 11:15:26 AM Warning: fruity language. http://www.youtube.com/watch?v=e3XEfcBQyy4&feature=player_embedded Very good. Still prefer 'We didn't get you fired' though. Title: Re: Ivey Sues Tiltware Post by: DaveShoelace on June 02, 2011, 11:17:19 AM Think dik9 posted it on Facebook this morning. Wish I was capable of stuff like that . It's the business Its quite easy, you just 'copy' the link then 'paste' it into the status bar on facebook. Hang in there, you'll get the hang of it. Title: Re: Ivey Sues Tiltware Post by: smashedagain on June 02, 2011, 11:23:59 AM Think dik9 posted it on Facebook this morning. Wish I was capable of stuff like that . It's the business Its quite easy, you just 'copy' the link then 'paste' it into the status bar on facebook. Hang in there, you'll get the hang of it. Title: Re: Ivey Sues Tiltware Post by: DaveShoelace on June 02, 2011, 11:26:50 AM Think dik9 posted it on Facebook this morning. Wish I was capable of stuff like that . It's the business Its quite easy, you just 'copy' the link then 'paste' it into the status bar on facebook. Hang in there, you'll get the hang of it. Title: Re: Ivey Sues Tiltware Post by: smashedagain on June 02, 2011, 11:30:11 AM Lol. Good luck to you sir fair play and thanks for your donations. Everyone seems to love the book. Have you read mine. " ABC poker. How to beat idiots." rule 1 is "you can't bluff idiots" and I am pretty much an idiot coz I tried a similar thing not much after you
Title: Re: Ivey Sues Tiltware Post by: DaveShoelace on June 02, 2011, 11:32:55 AM Lol. Good luck to you sir fair play and thanks for your donations. Everyone seems to love the book. Have you read mine. " ABC poker. How to beat idiots." rule 1 is "you can't bluff idiots" and I am pretty much an idiot coz I tried a similar thing not much after you Yep, I donated the the most literal sense of the word on Sunday. I need rule 2 of your book which is 'you can't bluff people who clearly have the nuts' Title: Re: Ivey Sues Tiltware Post by: ACE2M on June 02, 2011, 11:35:21 AM wow. if hey weren't screwed before they are now, who in their right mind will deposit with them after reading that. ;indestructable; i also deposited later that day, so, errrr. Title: Re: Ivey Sues Tiltware Post by: DaveShoelace on June 02, 2011, 11:39:08 AM wow. if hey weren't screwed before they are now, who in their right mind will deposit with them after reading that. ;indestructable; i also deposited later that day, so, errrr. I cashed out my last measly bit of FTP money yesterday, what do we think are the odds of getting back and when? Its only a few hundred bucks, not sure if that helps or hinders my chances. Title: Re: Ivey Sues Tiltware Post by: donttiltboy on June 02, 2011, 12:28:49 PM wow. if hey weren't screwed before they are now, who in their right mind will deposit with them after reading that. ;indestructable; i also deposited later that day, so, errrr. I cashed out my last measly bit of FTP money yesterday, what do we think are the odds of getting back and when? Its only a few hundred bucks, not sure if that helps or hinders my chances. I cashed out last friday got it wednesday, only few hundred but still pretty quick with monday being bank holiday. Title: Re: Ivey Sues Tiltware Post by: Longy on June 02, 2011, 01:35:21 PM The tiltware statement is unbelievably aggressive for a statement from a company, this is going to be real messy.
These events are doing online poker as a whole a real body blow, the casual poker player round the world is going to start thinking who the hell can I trust with this ontop of various other scandals. Title: Re: Ivey Sues Tiltware Post by: tikay on June 02, 2011, 01:45:35 PM The tiltware statement is unbelievably aggressive for a statement from a company, this is going to be real messy. These events are doing online poker as a whole a real body blow, the casual poker player round the world is going to start thinking who the hell can I trust with this ontop of various other scandals. My enduring thought, too, there is clearly yet another backstory here. The whole thing is mad, bad, & very sad. Title: Re: Ivey Sues Tiltware Post by: ACE2M on June 02, 2011, 01:50:55 PM anybody have a link for the nick rainey interview that isn't justintv?
Title: Re: Ivey Sues Tiltware Post by: redarmi on June 02, 2011, 01:58:24 PM The tiltware statement is unbelievably aggressive for a statement from a company, this is going to be real messy. These events are doing online poker as a whole a real body blow, the casual poker player round the world is going to start thinking who the hell can I trust with this ontop of various other scandals. Absolutely. I have never seen anything like it from a company. I cannot help but think that these kind of statements wouldn't be happening if there was much (any?) hope of Tilt becoming a viable business ever again. Title: Re: Ivey Sues Tiltware Post by: tikay on June 02, 2011, 02:49:45 PM The tiltware statement is unbelievably aggressive for a statement from a company, this is going to be real messy. These events are doing online poker as a whole a real body blow, the casual poker player round the world is going to start thinking who the hell can I trust with this ontop of various other scandals. Absolutely. I have never seen anything like it from a company. I cannot help but think that these kind of statements wouldn't be happening if there was much (any?) hope of Tilt becoming a viable business ever again. Well it was hardly designed to solve any problems that exist between Mr Ivey & Tilt, was it?! It reminded me of an e-mail I received recently, purporting to sort something out, which was titled "what's your problem?"..... Genuine popcorn stuff. Title: Re: Ivey Sues Tiltware Post by: Bongo on June 02, 2011, 02:59:59 PM On the other side doesn't it sound like lots of Full Tilt's money is in odd places - leant to allegedly leant to DB and PI.
Are there any solvent poker players? Title: Re: Ivey Sues Tiltware Post by: FredW on June 02, 2011, 03:24:26 PM Those of you moving away from Full Tilt - what other poker sites would you recommend? Is stars going to be reliable or can you see the same thing happening to them?
Title: Re: Ivey Sues Tiltware Post by: redarmi on June 02, 2011, 03:27:37 PM On the other side doesn't it sound like lots of Full Tilt's money is in odd places - leant to allegedly leant to DB and PI. Are there any solvent poker players? Yeah that definitely struck me as weird. Why on earth would Ivey have FTP's money??? Only thing I can think is that they fronted him money for tourney buyins that they sponsored but would it really be enough to make a significant dent in the $150m or whatever they owe to US players. Title: Re: Ivey Sues Tiltware Post by: Marky147 on June 02, 2011, 03:36:21 PM anybody have a link for the nick rainey interview that isn't justintv? The Rainey segment starts at 58mins m8 http://www.justin.tv/quadjackslive/b/287114848? (http://www.justin.tv/quadjackslive/b/287114848?) Title: Re: Ivey Sues Tiltware Post by: ACE2M on June 02, 2011, 03:47:51 PM anybody have a link for the nick rainey interview that isn't justintv? The Rainey segment starts at 58mins m8 http://www.justin.tv/quadjackslive/b/287114848? (http://www.justin.tv/quadjackslive/b/287114848?) thanks Title: Re: Ivey Sues Tiltware Post by: henrik777 on June 02, 2011, 03:59:08 PM Those of you moving away from Full Tilt - what other poker sites would you recommend? Is stars going to be reliable or can you see the same thing happening to them? The players money is segregated in a separate bank account at stars. Doesn't mean they can't access it but it does lend a bit of credibility. Sandy Title: Re: Ivey Sues Tiltware Post by: Longy on June 02, 2011, 05:43:03 PM Those of you moving away from Full Tilt - what other poker sites would you recommend? Is stars going to be reliable or can you see the same thing happening to them? I am currently and will continue playing on stars, they have proved they can pay in a crisis. I think playing on the big bookmaker websites and sky, bascially companies with a solid base in things apart from a poker would be reasonably safe bets. If anything this whole episode has taught me is to leave only money you are prepared to lose if the worst comes to the worst. I had a chunk of my networth stuck online when Black Friday hit and it was deffo squeaky bum time getting it off. Title: Re: Ivey Sues Tiltware Post by: Royal Flush on June 02, 2011, 07:15:23 PM Everyone still keep processing cash-outs and getting their money? If so what's the panic?
Title: Re: Ivey Sues Tiltware Post by: toddswain on June 02, 2011, 07:19:31 PM Everyone still keep processing cash-outs and getting their money? If so what's the panic? ive had like 3/4 withdrawls done within 2 days in last 2 month, everything seems fine to me, defs not worrying Title: Re: Ivey Sues Tiltware Post by: Longy on June 02, 2011, 07:28:46 PM Everyone still keep processing cash-outs and getting their money? If so what's the panic? I know you have a vested interest Flushy and probably know stuff you are not allowed to say but for your average punter there is quite a lot to be worried about imo. The fact is full tilt remain incapable of paying a large minority of their customer base after 6 weeks when their main competitor did it within 2. We now have 2 people (Ivey and Durrrr) with slices in the company openly stating they aren't happy with what is happening. Are you still wearing Full tilt patches? Edit: Minority not majority. Title: Re: Ivey Sues Tiltware Post by: Bongo on June 02, 2011, 07:30:21 PM I withdrew last week and the money is in my account now.
Title: Re: Ivey Sues Tiltware Post by: redarmi on June 02, 2011, 07:32:18 PM Everyone still keep processing cash-outs and getting their money? If so what's the panic? I don't even know where to start with this comment. Everyone was getting paid before Black Friday but then something major happened to affect FTP's ability to pay out to all of their US customers and they couldn't/wouldn't pay given the rush for payouts. On Tuesday one of their shareholders and former star pro announced he was suing them followed by an announcement from FTP basically admitting they don't have the funds to pay those players. Do you not think that may cause a rush on the bank from their RoW players therefore leading to them being unable to meet those withdrawals?? Given your status as a sponsored player with FTP do you not think that it is a bit dangerous to be making these kind of statements or are you privy to information and accounts that you care to share? Title: Re: Ivey Sues Tiltware Post by: Skippy on June 02, 2011, 07:36:20 PM Everyone still keep processing cash-outs and getting their money? If so what's the panic? I thought you weren't supposed to comment? Anyhow, let's get this straight. They haven't paid out a large bunch of their customer base (the U.S.) despite having the ability legally to do so, as illustrated by PokerStars. They haven't given any reason why they haven't paid. There are lots of crazy rumours that they haven't got the money, or their accounting was dodgy. Despite all of this I was still a believer. Now the biggest name in poker and a man who we presume was a big cheese in the company sues them, another FT pro (durrrr) pretty much says well done, go for it, and everyone is talking about durrrr and Galfond's promise to repay players as less of a hypothetical situation and more of a practical reality. Durrrr isn't wearing his patch. What do you want us to think? As for panic, I have about 6 different poker rooms sitting on my computer. They're all pretty much the same. Why am I going to pick the one that may or may not be about to collapse? Title: Re: Ivey Sues Tiltware Post by: GreekStein on June 02, 2011, 08:01:34 PM lol Flushy your comment is almost as much of a joke as the company you wear badges for
Title: Re: Ivey Sues Tiltware Post by: sovietsong on June 02, 2011, 08:04:25 PM lol Flushy your comment is almost as much of a joke as the company you wear badges for can you recommend a site we should play on? Title: Re: Ivey Sues Tiltware Post by: byronkincaid on June 02, 2011, 08:08:00 PM Quote Why am I going to pick the one that may or may not be about to collapse? for me rush + best software + 82K players right now + cashouts working fine + only got a tiny balance on there so it's not the end of the world if I lose it. although if stars started offering rush then i guess i might be tempted to move :) Title: Re: Ivey Sues Tiltware Post by: byronkincaid on June 02, 2011, 08:18:28 PM 30+ tables of 6m 1/2 running atm, ok they owe $150mil and have a few legal problems but i think there's a reasonable chance they can ride it out if most people keep playing there. apparently at their peak they were raking $1.5 mil a day, say that's down to half a mil now, lose a few staff and american red pros, howard and co go unpaid for a while and they'll have the money pretty soon?
tikay often says how well sky are doing, they have 3 6m £0.50/1 games running atm. Title: Re: Ivey Sues Tiltware Post by: Ironside on June 02, 2011, 08:22:00 PM anyone think stars might buy out tilt get there players and the rights to rush etc etc
i know they bought the player base for some really small sites that went under before Title: Re: Ivey Sues Tiltware Post by: TheFallen on June 02, 2011, 08:30:29 PM anyone think stars might buy out tilt get there players and the rights to rush etc etc i know they bought the player base for some really small sites that went under before doubtful since all FT players would likely migrate to stars anyway should FT fold. Best view i have read on the situation (http://forumserver.twoplustwo.com/showpost.php?p=26900235&postcount=1492) also, this may be slightly related to the current situation. im excited to see what it is. hopefully not just some charity tourny. (http://forumserver.twoplustwo.com/29/news-views-gossip/guy-laliberte-announcment-wsop-5pm-1046930/) Title: Re: Ivey Sues Tiltware Post by: TightEnd on June 02, 2011, 09:06:10 PM that Jason Strasser post on 2p2 is interesting
Let me understand this correctly... A few businessmen and high profile poker pros get together to start FTP. The businessmen and the high profile poker pros all get rich on customers of FTP. The company has trouble debiting customer accounts, but in order to keep the site healthy it gives the players money on credit and wracks up some debt (50MM?). The company pursues a very aggressive rakeback gameplan to get business and also is rumored to fund its marketing budget from its player deposits. Post black friday the company owes something like $150MM to US players in deposits of which they probably spent a portion of and then lent out $50MM. They had several options after black friday. 1) Try to raise money via equity or debt to fill the black hole. 2) To use player funds of the non-US customers to pay back all or part of the US player money they owe, and risk shutting down the one legal and working part of their business. 3) To stall and try to earn their way out of the problem with their existing business, while trying to accomplish 1). 4) F*** it, let's just run away dutch boyd style. Everyone is hating on FTP's handling of this situation. But seriously, what would you do once you found yourself in their black friday predicament? The best thing to do is to keep the site running, keep earning rake, and to find someone who wants to gamble by giving them an equity stake. They clearly need a certain amount of cash on hand to keep the site going, and they would be idiotic to alienate foreign players to try to satisfy the US players who can't help them out of their current problem. Stalling and telling your employees and red pro's to shut the f up is probably not a bad business decision. This company was very aggressive and took lots of chances. Many people got rich based off of this aggressive model, including Phil Ivey who benefitted immensely from the success of FTP. Specifically, he benefitted from their aggressive marketing plans, of which it is very possible were 'borrowed' from player funds. Now Phil Ivey comes out and protests by suing FTP and by boycotting the WSOP. This CLEARLY does not help FTP's situation and it CLEARLY does not help people like me who have money stuck on FTP. Ivey confirmed out fears: FTP was an overly aggressive company and does not have our money on hand. This will likely lead to further non-american withdrawals as everyones' worse fears about the state of FTP are confirmed. There is an argument to be made that Ivey took the easy way out. Now he doesn't have to field ANY questions about FTP because he's one of *us* and because he's not at the WSOP. He is abandoning the company that helped him profit immensely and trying to side with regular FTP players. Even more shocking are the details of this lawsuit--where the primary goal is to absolve him of any contractual obligations to FTP. And to sue FTP for making him look bad. If he cared about people's money stuck in FTP, his statement and subsequent actions would go something like this: "Full tilt poker got caught with its pants down on black friday. We made lots of mistakes and we deserve criticism. I am not trying to hide the fact that I made lots of money from FTP in the past. I want to personally guarantee that FTP will return funds ASAP. At the current level of foreign business on FTP, we will have your funds ready for you in 7-8 months*. I will do my best to market the brand abroad and try to preserve the legitimacy of FTP. Going forward, if we are ever back in the US, we will be diligent about having player deposits on hand and we will never be caught in this situation again. These events have done harm to my personal reputation and I will do my best to help FTP get itself out of this mess. FTP will make good on its debts and we will all learn from this awful situation." * pure guess by me... but a fair guess that doesnt stall or hide facts instead of "I'm suing FTP. It's a scam. Now they're going to spend resources dealing with me in court. For sure I just scared of any potential investors in this POS. They ruined my reputation. I don't want to ever have to work with these people going forward. I'm sitting out the WSOP to protest how badly this company behaved and because people will think I'm a saint for sitting it out--even though this just hurts everyone waiting for their money. I also don't have to be in the spot light and deal with media. Now that I--the most recognizable name in poker--jumped ship, it's going to make earning their way out of their problems almost impossible. I bet the owners just end up running away to Venezuela after this. Good luck getting your money back." Anyone with a brain understands how and why people like Lederer, Ivey and others would get involve with FTP. No one would fault them for being sponsored by FTP and making money. I do however think it is fair to fault Ivey for abandoning their former personal gravy trains when the going got hard and for making it harder for the average guy to get his money back. The thousand people on here clapping for Ivey today need to think harder about why they are clapping if you ask me. Jason Strasser Title: Re: Ivey Sues Tiltware Post by: outragous76 on June 02, 2011, 09:42:51 PM what a load of dross!
FTP couldn't process US transactions so did so on credit racking up $60m of debt which they had no way of funding! There is nothing to suggest that anything would have stopped them or that they had a plan. They are essentially trading insolvently which is illegal. They could never float as this would be found during due diligence! But yeah, Ivey is a bad person! I'm pretty sure Ivey took advice and his lawyer said, this is v bad strike the first blow and severe all ties. Anyone who says they do different in the situation is a liar! Title: Re: Ivey Sues Tiltware Post by: Bongo on June 02, 2011, 10:10:56 PM Do you think they thought they'd be able to process payments again pretty quickly and to turn people away would cost more long term and it spiralled out of control?
It seems so odd to me that they'd keep honouring deposits without money coming in. Additionally people must have noticed they weren't being charged for their deposits so do you think people could have been taking advantage of that? |