Pokerstars Fulltilt UB seized by the FBI

[newname]

I wonder if they will do like bodog and mail checks from canadian banks.

[kboxer7]

This would prob be a pain for larger amounts cause I'm not sure of the limit on these cards, but couldn't they just purchase pre-paid Visa gift cards or American Express gift cards or whatever and send those to us in the mail?

Just a thought....

Thats the real problem though how is UB going to cater to US players and get them their money they have been shut out of the US banking system.  They have no way for money to exchange hands.

[patriots76]

I am not an expert on this but have been listening and reading a lot about this since I am invested in the outcome.  Bodog's Canadian checks have never been an issue because you could cash them in the US banking system,  now that might be a totally different story.  Basically you would have to get a foreign bank account for their banks and your to communicate  and cash checks from their accounts to yours and vice versa.  

If bodogs checks "work" then they should be business as usual and any American player should be able to cash out anytime and be able to tell us here. I am sure they have stopped deposits and withdrawals because of the above and it isnt business as usual. 

[Egor]

the poker rooms being "shut out of the US banking system" happened years ago

[patriots76]

Not exactly from what I understand.  If that was true then why isn't it business as usual at Bodog and Cereus for deposits and withdrawals?  I am still playing at these sites but I know they face some challenges. 

[Egor]

It is in fact business as usual at Bodog. I don't know why UB has suspended USA banking, but since they have not banned USA players one can only assume they are working on new banking solutions.

[rockman123]

I m from europe so no problems for me

the Guarantees at UB are back up so thats even better - > less ppl = more $$ for me (H) )

[patriots76]

Interesting Bodog does appear to be running normally for taking deposits.  Has anyone received a withdrawal?    This banking issue has been a huge thing on the wombat radio link you posted.  I have been listening to that for hours on end every day lol.

[webber04]

i know
its by far the most informative source online right now
and its quite addicting!!  

[Egor]

Nothing has changed with Bodog, they were not included in any of this. They are not part of it. Whatever banking systems they have in place are the same as they have been for many months.

It is my understanding that having a paper check mailed is a popular withdrawal choice for US players.

[Luna Wolves]

Nothing has changed with Bodog, they were not included in any of this. They are not part of it. Whatever banking systems they have in place are the same as they have been for many months.

It is my understanding that having a paper check mailed is a popular withdrawal choice for US players.

Yup.. Bodog sends a nice check. Takes a few days and no problems at the bank..  

[peamasii]

AP/UB has cancelled pending payout requests and is accepting new requests up to $250/week max.

[Egor]

The fact that Cereus cannot stand a "run on the bank" testifies to their insolvency, unfortunately. They must have been dabbling with customer deposit funds.

[peamasii]

I doubt that that any poker site with reasonable traffic will ever go insolvent. They can have some accounts seized, open new ones and continue to rake in. As long as rake keep coming in, they have no reason to go busto. If Merge can stay up on lower traffic, Cereus can definitely continue like this. The market discount on player funds right now is only about 10-15%.

Correction: I see the discount is actually 40-50%. So yeah, there's a good chance they'll go busto. 

[Kuroth]

AP/UB has cancelled pending payout requests and is accepting new requests up to $250/week max.

Hu? When did you see this?  They are offering NO payments to US players(But funny as they sure still let you deposit and play)..  I wondered why UB "LETl me win $550 Sunday night for the first time in months...  Now I know why...   

[tyg]

I doubt that that any poker site with reasonable traffic will ever go insolvent. They can have some accounts seized, open new ones and continue to rake in. As long as rake keep coming in, they have no reason to go busto. If Merge can stay up on lower traffic, Cereus can definitely continue like this. The market discount on player funds right now is only about 10-15%.

Correction: I see the discount is actually 40-50%. So yeah, there's a good chance they'll go busto. 

what does market discount mean? There's a chance that the $ in our accounts could be useless? If so I'm going to stop playing manually on UB... -_-

[webber04]

PS is allowing all USA players to withdrawal all funds today
i just did mine

[trustme2003]

Why did my comment get removed?  I was basically asking if anybody knew if I was going to get charged later or not and what the Negative account meant.  It just made me laugh i guess.

[peamasii]

tyg, it means that people pay up to 40% of their UB account value to have it immediately available or cashed. the problem is that we don't know yet if buying account balances is well within their terms of service. customer support indicated it might not be, so any large transaction should first be cleared with a live UB cashier.

[snapcracklepopperhead]

17 NL tables active as I typre
thats right - 17.

UB has been decimated by all this