Protecting Bankroll-Post FTP

    • Tevezwest
      Tevezwest
      Gold
      Joined: 12.07.2008 Posts: 30
      Just been thinking about protecting Bankrolls after all what has happened with FTP.

      One Idea I had was a separate depositing branch(company) that is protected, firewalled if you like, from the poker companies but is link when making deposits and cashouts.

      That separate branch would be like a e-wallet company (paypal, moneybookers) but has a instant deposit and cashout and is displayed as your full bankroll on the poker sites.

      I've got to agree with some people that say don't leave all your bankroll with the poker companies but as I use a e-wallet that takes 3 days to get from my poker cashout to my wallet this is a bit impractical. If someone as ideas as how to protect yourself but have instant access that would be appreciated.

      As for as ideas above feels free to add or point out problems but having these protections is a must for the future because if a trusted company as big as FTP can go this way it can happen to any one of them.
  • 8 replies
    • PokerPirate1
      PokerPirate1
      Bronze
      Joined: 19.08.2010 Posts: 43
      Do you have a reason to think that the e-wallets like MB or Neteller are so untrustworthy? Since the recent trouble, I am just going to keep a small, but playable roll on any site (st. like 20-30Bi ) and the rest on the e-wallet. Didn´t have a problem yet, so maybe I just do not have experience, but I think it should be enough, who could ever ban me from using such service?
    • Tevezwest
      Tevezwest
      Gold
      Joined: 12.07.2008 Posts: 30
      I'm not saying that the e-wallets are the trouble just the time it takes to move money between them and the poker sites.

      So if there is a instant transfer deposit and cashout no problem but there always will be a delay between the two.
    • fishlock
      fishlock
      Bronze
      Joined: 06.12.2009 Posts: 27
      sounds like good idear think I'll look into some sort of e wallet for myself
    • OZSA
      OZSA
      Bronze
      Joined: 18.05.2009 Posts: 804
      Best way to protect is to direct cashout to bank like every month (depending on ur winnings) and keep 30-40buyin in the pokersite or if you rather keep it on moneybookers, order their security token. Pokersites have no such things, except pokerstars and fulltilt had, which is a must imo.. oh yeah party has it too, its just ridiculously expensive.
    • yeahyoung0312
      yeahyoung0312
      Bronze
      Joined: 16.12.2009 Posts: 340
      Originally posted by OZSA
      Best way to protect is to direct cashout to bank like every month (depending on ur winnings) and keep 30-40buyin in the pokersite or if you rather keep it on moneybookers, order their security token. Pokersites have no such things, except pokerstars and fulltilt had, which is a must imo.. oh yeah party has it too, its just ridiculously expensive.
      What is a security token again? And doesn't the fact that fulltilt had it deem it useless?
    • MatejM47
      MatejM47
      Black
      Joined: 21.01.2010 Posts: 1,193
      Originally posted by yeahyoung0312
      Originally posted by OZSA
      Best way to protect is to direct cashout to bank like every month (depending on ur winnings) and keep 30-40buyin in the pokersite or if you rather keep it on moneybookers, order their security token. Pokersites have no such things, except pokerstars and fulltilt had, which is a must imo.. oh yeah party has it too, its just ridiculously expensive.
      What is a security token again? And doesn't the fact that fulltilt had it deem it useless?
      RSA security token protects your account. Its an extra password for your account that changes every 60 secs. Obviously that doesn't help you in full tils case since they went busto.

      E-wallets like moneybookers are the fastest way for deposting and withdrawing money. At least for me the deposits from moneybookers are instant on my site, withdrawal is instant in cases when you deposit like 1k and then withdraw 1.5k then 1k is withdrawn instantly and the other 500$ goes trough some kind of checking.

      The best way to protect your roll is to have some of it on site and the rest in MB acount and cash out what ever money you dont need to your bank account. Some people had like half their net worth on FT which is kinda stupid when you look back on it. You really dont need more then 10-20 BI on the site.
    • UXMALAGA
      UXMALAGA
      Bronze
      Joined: 21.12.2010 Posts: 362
      Originally posted by Tevezwest
      I'm not saying that the e-wallets are the trouble just the time it takes to move money between them and the poker sites.

      So if there is a instant transfer deposit and cashout no problem but there always will be a delay between the two.

      My cash Outs and Deposits are absolute direct, it takes 15 sec and the money is already in moneybookers...
    • SPeedFANat1c
      SPeedFANat1c
      Silver
      Joined: 04.01.2009 Posts: 5,133
      But can we actually trust in those e-wallets? No one thought that FTP could steal players moneys, but they did (unless they will repay) So, the same could be with e-wallets I think. There might be some bad guys like on ftp who steals money and then some company who regulates those e-wallets is saying - go to your local police if you want like with AGCC. I myself have 10 BI on e-wallet, and if I would have more, then I would probalby cahsout to my local bank.

      And 3 days for money transfers I think is not a big problem. You can always plan when you need money, so just make cashout 3 days before you actually need it.