Online Bankroll...Worried?

Jagsti · Oct 7, 2008

Well, the current worldwide financial meltdown has certainly got me wondering about this. All of my online bankroll is currently on Stars, probably the safest of all the online poker rooms. Prior to this moment I have never been worried as such, but with the increasing financial sector doom and gloom, do we have reason to be concerned?

TRB1965 · Oct 7, 2008

I haven't really considered the current banking crisis in those terms and I am far from a expert on international finance.

I would think that this will certainly have an impact of some poker rooms as few players will have expendable income and be making fewer deposits.

I don't think it should have an impact and the larger poker rooms, but as stated above, I am far from an expert on international finance.

Jagsti · Oct 7, 2008

Banks are going into receivership by the minute. poker sites hold all players moniez in bank accounts. Lets hope Stars has chosen wisely imo!

bw07507 · Oct 7, 2008

I've been thinking about this too lately. Im contemplating keeping only like 16 BIs in my account (Just enough to 12-table) and then reloading if necessary/withdrawing whenever I get 5 BIs

BelgoSuisse · Oct 7, 2008

Well, Pokerstars web site says:

PokerStars players' poker money and account balances are held in segregated accounts and not used for any of PokerStars' operational expenses. These segregated accounts are managed by a leading European bank. The arrangements ensure that PokerStars can at all times fulfill its monetary obligations toward its online poker players, and will provide further reassurance that players' funds are always secure with PokerStars.

I don't know which bank they refer to, but European governments are busy telling urbi et orbi that they will no allow major European banks to collapse. So far, all banks that got into major trouble have been nationalized, which mean they do not default on their customers.

TexasPokerStar · Oct 7, 2008

Your money is safe

I wouldn't worry about it... because the system that operates most poker sites... is pretty strong... and the banks they deal with are either here in the U.S. and our some of the strongest banks... or international banks... that have a much larger and powerful reach...

either way you look at it, your bankroll is safe...

zachvac · Oct 7, 2008

idk maybe I'm naive but especially with recent events I'd trust Stars with it more than an American bank. Obviously the best solution would be to withdraw and buy something with hard value so inflation doesn't hurt as much.

Monoxide · Oct 7, 2008

Buy ingots of gold. Cant go wrong with gold.

Im semi serious....

cAPSLOCK · Oct 7, 2008

Monoxide said:
Buy ingots of gold. Cant go wrong with gold. Im semi serious....

Well I think gold is a great investemnt, especially if you got some a few years ago, and there IS the possibility that with continued world economic meltdown we may see its value go much much higher.

But like any other commodity it will correct after a big gain.

Look at the last energy crunch around 76-78.

vagas35 · Oct 7, 2008

Jagsti said:
Well, the current worldwide financial meltdown has certainly got me wondering about this. All of my online bankroll is currently on Stars, probably the safest of all the online poker rooms. Prior to this moment I have never been worried as such, but with the increasing financial sector doom and gloom, do we have reason to be concerned?

If you are worried Jagsti, don't leave your bankroll in stars leave your cash in the bank then move your money to stars when you need it.
Your guaranteed up to £50,000 in any uk bank.

zachvac · Oct 7, 2008

cAPSLOCK said:
Well I think gold is a great investemnt, especially if you got some a few years ago, and there IS the possibility that with continued world economic meltdown we may see its value go much much higher.

But like any other commodity it will correct after a big gain.

Look at the last energy crunch around 76-78.

Remember that's only the alternative to savings. Curious to see how sound gold is in overall wealth (ie adjusted to inflation and fluxuation of worth of the US dollar). Also in the bank the money earns interest. When worried about inflation you should pick something with solid intrinsic value. You can't compare it with something as unstable as the US dollar.

tenbob · Oct 7, 2008

Deposit in an Irish Bank. Our banks now have a 100% state guarentee for all deposits.

Monoxide · Oct 7, 2008

What if the irish bank takes the money and goes and gets hammered at the pub with it? what then!?!?

switch0723 · Oct 7, 2008

im with zach on the basis i have more faith on stars choosing a reliable bank than me having faith in my own

feitr · Oct 7, 2008

I've been playing nl100 with anywhere from $600-$2k as of late...idk i'd just rather have it in my bank than on Stars, especially considering who knows what the US dollar is going to do in the next little while. That said, i don't really feel like taking anymore out since 1. i don't want to have to redeposit if i hit a downswing with the canadian dollar as it is vs the us atm and 2. i'd kinda like to be rolled for nl200 somewhat soon.

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Online Bankroll...Worried?

Jagsti

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