What's gone wrong at UB?

[SweetPea]

It's obvious that something very peculiar is going on at UB with the recent cashout delays, cancelations, and account closures due to bonus "abuse." I don't think that the UB managers are complete idiots, so my question then...

"What could be happening behind the scenes of UB to make them decide this current behavior of theirs is profitable to them as a business?"

Are they unable to remove the pts for cash bonus from abusers via the software, so therefore they just lock their accounts?

Are they in a bad financial situation? With their MGR calculation change, their 10% MGR fine to all US players, and this recent behavior in regard to cashouts; it seems to me that they are in a cash-grab mentality. I just can't decide if it is due to greed or necessity.

[Niediam]

They were bought by Absolute a few months ago... I severely doubt the issue is that they need cash.

I really think they are just being greedy because they no that US players have very few other options.

[Quagmired]

Something real wrong is going on there. If anyone here still plays at UB i suggest you get your money out now. Unless you like the thought of them closing your account, canceling your withdrawls, keeping your funds and never answering another email from you.

Just speaking from experience.

[SweetPea]

[ QUOTE ]
They were bought by Absolute a few months ago... I severely doubt the issue is that they need cash.


[/ QUOTE ]

I'm not suggesting that UB is going bankrupt, but is it possible that they are low on liquid funds? Seems to me that the Absolute buyout would remove money from their combined coffers as payout to the previous owners...not help their money woes.

Another theory: What's the yearly profit on delaying every cashout by 1 week? That's a lot of interest. I know I work for a small company and the money they earn by pushing our paychecks to monthly instead of weekly is significant.

[Broke Rounder]

Why dont we mass e-mail UB and let them know whats on our mind. They really should have someone from their company who posts here. Im sending my e-mail to them now.

[neverforgetlol]

I'm mainly annoyed with the IE security message everytime I pull up the cashier, and the message about buying in you get everytime you open up a table, anything I can do about those?

[SweetPea]

I use PTFB (Push the F&$@ing Button) to auto-press those annoying popups at multiple sites. I use the commercial version, but have used the freeware in the past with just as good of results. I liked the product so tossed them some money out of respect more than necessity.

A Google search for PTFB should straighten you out.

[WutRUTryin2Hit]

[ QUOTE ]
They were bought by Absolute a few months ago... I severely doubt the issue is that they need cash.

I really think they are just being greedy because they no that US players have very few other options.

[/ QUOTE ]

I don't think UB have definite liquidity problems, but just cause another company bought them, it doesn't mean much. I mean, Absolute might have had to burn a lot of cash in the acquisition, so Absolute could be more cash-poor than before the deal. And really, who honestly thinks that Absolute is thriving? We are at a point in online poker history where the growth boom has died out, and you can't be massively profitable anymore just by virtue of running a poker site. There are simply going to be a lot of sites in the next little while that go busto, it's inevitable. The strong ones that operate optimally will survive and grow, but a lot of smaller ones that did fine for years simply because it was impossible NOT to make money at it, will flounder and die. See: Tech boom, 1999.

[TheJokerIsWild]

It's very simple. Absolute Poker purchased them and they are running UB the same way they have been running AP.

[SweetPea]

Into the ground?