Odds of Party collapsing on Saturday?
 

I had a little over 10k left in my Party account, just enough to get by until the 13th. After reading the Barron's article though, the idea of thousands of US customers cashing out in a panic suddenly, coupled with a poorly run company with relatively little forward vision got me nervous. I decided it was time to cash out.

Unfortunately, I planned on playing the final week and making what I could, but can't really swallow the idea of losing 10k right now. Fortunately, I have a good friend who is also a poker player who would probably agree to offer me insurance on my money in case something happened and I never saw a dime.

So we talked about what would be a fair price. After a bit of discussion, I thought 10% would be a good starting point and he thought 20% was about right. After discussing it a bit, we decided it was more than I feel like paying for the opportunity to play a week on Party, so we chalked it up to one of those interesting conversations that we've had over the course of our lives, and that was that.

Despite not coming to an agreement, I'm still curious what 2+2ers would put the line at. What would your price be? Or put another way, what do you think the chance is of Party being forced to stiff people because of lack of funds on Saturday?

Re: Odds of Party collapsing on Saturday?
 

I think Party pays you out 100%, so I would invest 0% (0$) as an insurance.

Come on it's a big company on the stock market and has lots of business going on in Europe. They are not getting broke...

Re: Odds of Party collapsing on Saturday?
 

PANIC!!

Re: Odds of Party collapsing on Saturday?
 

Your friend missed out on some easy money.

Re: Odds of Party collapsing on Saturday?
 

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Come on it's a big company on the stock market and has lots of business going on in Europe. They are not getting broke...

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Enron was worth billions, size doesn't always make your money safe. And being listed on the London Stock Exchange also doesn't guarantee liquidity in the case of a cashout panic.

Also, this isn't just a hypothetical, 80% of their customers WILL be pulling out every cent they have within the next week or so. Panic or no, people have no reason to leave money in their accounts.

Re: Odds of Party collapsing on Saturday?
 

80% of their customers will NOT be pulling out every cent. Just the paniced losers.

Re: Odds of Party collapsing on Saturday?
 

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80% of their customers will NOT be pulling out every cent. Just the paniced losers.

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Why would an American leave their money at Party if they were no longer able to play there?

It is a very logical assumption the bulk of the players will pull their money. Therefore, anyone with any significant amount of money may want to pull it now.

I say leave what you're willing to have tied up for quite some time, and possibly, but very slim possibility, not get it back.

To OP, only leave the minimum you need to play, cash out the rest.

Re: Odds of Party collapsing on Saturday?
 

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80% of their customers will NOT be pulling out every cent. Just the paniced losers.

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maybe i missed it somewhere but can someone post a link to where the breakdown of Party's customer base by continent is listed?

Re: Odds of Party collapsing on Saturday?
 

I agree Party won't fold, but why wouldn't an American cash out before Friday?

Re: Odds of Party collapsing on Saturday?
 

[ QUOTE ]
[ QUOTE ]
80% of their customers will NOT be pulling out every cent. Just the paniced losers.

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maybe i missed it somewhere but can someone post a link to where the breakdown of Party's customer base by continent is listed?

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Party has said the US base was around 75% of their business.

There are so many articles claiming anywhere from 65-84% that there's no way to know the actually number, but somewhere around 75%.