AP Interest Bearing Account

[lucky_mf]

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9% equals $7.50 per month per $1000. If you have rakeback at AP which is contributed versus FT which is dealt, that is probably a bigger difference in favor of FT.

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Except - Depending on how much and how high you play AP points for cash conversions can more than make up for the fact that rakeback is contributed. I average 2k per month in points conversions, which is about equal to my monthly rakeback.

Lucky

[lucky_mf]

My biggest fear is that they are going to make a very restrictive 9% interest on balances promotion and take away something else (like the points for cash conversions).

Lucky

[Josem]

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The real reason they are doing this is to help finance the business. Reduction of the business interest expense is the driver. The company has lines of credit that are extended for certain capital expenditures i.e. purchase of UB or upgraded servers for new player base ect.

If AP has a line of credit extended for 7,000,000.00 at 18% the interest payment monthly is 105K, if they pay you instead they save 52.5K monthly while increasing revenue.

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Kudos to AP management for this move...brave, risky and bold!

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Anyone who is happy about their poker site using their money - rather than storing it in a separate fund - has an excessive amount of trust in these businesses.

If this is true, it means that your money might not be matched by an equivalent dollar amount in a bank account - which leads to a huge problem if there is a run on this operator, let alone other possible problems.

[Lyrrad]

Has anyone done the calculations on the minimum amount of rake generated for one of these players vs the maximum amount of interest payout per month (or the difference between 9% and a t-bill or something similar)?