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Old 02-19-2007, 08:07 PM
Nate tha\\\' Great Nate tha\\\' Great is offline
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Join Date: Sep 2003
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Default Re: FTP Check Withdrawal Update

I don't think that FTP is out to take anyone's money. This is a large site that stands to make a great deal from the future action that it takes. Extrapolating from some of Party Poker's numbers, FTP likely takes in between $100-$200 million in profits per year, which is probably greater than the customer deposits it has on hand. Even if it decided to focus only on the European market, the profit potential would still be substantial, and it couldn't maintain a European business if it stiffed Americans because nobody would ever play there again. And while FullTilt could probably stiff one customer without that customer having much recourse, if they confiscated all customer funds or something of that nature, I'd imagine that their legal risk is very material. Basically, the only way that Full Tilt could take customer funds is if it declared bankruptcy.

With that said, it's a little bit frustrating that (1) they seem to have prioritized deposit methods over withdraw methods; (2) they seem to be having so much trouble issuing checks and doing wire transfers when other sites are able to do these things. I don't see a conspiracy but I do see some poor decision making on their part from a customer service and priorities standpoint.
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