WSEx: Official Thread: January & February. (#5 of 6.) - Page 32

MyJunkIsYou · #**311** 02-02-2007, 03:20 PM

hey all, long time lurker. I used to play regularly on wpex 10-20 and 20-40 but stopped due to an inability to adjust to the thinking lags and some suspicion of collusion. I changed sites and started emphasizing game selection more, though with recent developments I'm back to WPEX with the hopes that I'll be able to make money simply from the rake. What's prompted me to start posting here is, now that I'm essentially forced to playing in tough games on occasion, I know I'm going to have to further advance my game. I'm also trying to practice better game selection and focus on that more than the specific stakes or short-handed vs. full ring.

Anyway...I've been afraid to cash out on wpex, and have been monitoring this topic. Once I hear news of you guys' success I'll try for myself. Question - are you going to deposit the check directly into your bank accnt, or are you going to have it cashed or deposited into a western union accnt - I assume you guys are cashing out amounts in the thousands - not sure which route I should take for this. By the way, does the recent legislation affect things in terms of taxes? I've made enough money where I was planning on filing self-employed and taking out deductions for "business expenses" - but I'm not so sure anymore.

Thanks for the updates everyone.

LetsGetItOn · #**312** 02-02-2007, 04:21 PM

I had money on there a long time ago would like to try it out again, get epassporte as a deposit option or atleast get P2P transfer so I can setup shop there.

waffle · #**313** 02-02-2007, 05:57 PM

Holding check in hand now. IT's Chexx inc.

yossarian921 · #**314** 02-02-2007, 07:38 PM

Talked to accounting and they said that they are going to start a debit card though a new company, said they would fed ex the cards out as soon as monday. they said that u can do up to 500 at a time and it was $1.75 per transaction. Not holding my breath, but hopeful.

RGL · #**315** 02-02-2007, 07:43 PM

I also talked to WPEX accounting today. They told me that WPEX is now sending a private reloadable debit card to customers that request one through their accounting office. It looks very good. In your hands in 2-3 days by courier, $5,000 load limit (that's what they said), cashable at any ATM, usable at online and b&m retailers, loads in less than 1 hour from your request. No fees for the card or load, or maybe they said a small fee like in the previous post. I assume their may be an ATM charge and limit depending on where you use it. One is on the way to me. I'll report when I receive it.

yossarian921 · #**316** 02-02-2007, 07:46 PM

lets hope that no body from them has business or a layover in the US.

DING-DONG YO · #**317** 02-02-2007, 07:52 PM

this is going to sound dumb, but is it necessary to so openly discuss the new funding options here? I'm sure certain people read these boards and while yes, they'll probably figure it out eventually, no reason to make it easier for them.

At least not mention the name of the new vehicle. Just say debit card.

And yea, this post may sound stupid so flame away.

yossarian921 · #**318** 02-02-2007, 08:01 PM

i edited them, not sure if it matters though

New001 · #**319** 02-02-2007, 11:53 PM

I have my check as well. I'll try the debit card thing tomorrow with them.

recondite7 · #**320** 02-03-2007, 12:32 AM

[ QUOTE ]
The only reason WSEx provides no-rake poker is because they hope the poker players will sports bet, too.

If we assume WSEx wins, say, 10% of the total amount bet on sports, on average, then, imo, this is where they could do some sort of deal with poker affiliates, who obviously aren't going to send players to them at the moment as the affiliates will receive no payment for their marketing efforts.

If WSEx paid, say, 1% of all monies sports bet by their introduced players to the respective poker affiliates, this would encourage the affiliates to actively promote WSEx, immediately solving the marketing problem of attracting new players and thereby leading to both far more poker players on site, plus far more sports bet profit for WSEx for absolutely no prepaid outlay.

In other words, everybody wins.

(I don't know the correct percentage figures to use, but WSEx would, at the touch of a button.)

[/ QUOTE ]

They make money off of the poker players. The rake taken has to be making money in a short term interest account. There is a reason besides showing the player how much rake they are saving in taking rake and giving it back a week later.

I think this is a good thing btw, because it can make this poker room a reality for players.