What's new
By:

Full Tilt Ponzi Scheme

Does this really surprise anyone?
 
I lost a few hundred bucks assuming I never get back what was left in my account. Had it been a few weeks earlier it would have been a good deal more.
 
From my understanding they are considering it a Ponzi because they didn't have the cash in the bank vs. what bank roll was out there. Isn't this pretty much what every bank, including banks that the government gave huge loans to, do on a daily basis?

I could be completely wrong but I thought I read that somewhere.
 
Cope said:
From my understanding they are considering it a Ponzi because they didn't have the cash in the bank vs. what bank roll was out there. Isn't this pretty much what every bank, including banks that the government gave huge loans to, do on a daily basis?

I could be completely wrong but I thought I read that somewhere.
Click to expand...

LOL - I'm pretty sure online gambling sites are not protected under FDIC.
 
Cope said:
So if the gambling site has an insurance policy with the funds would it be legal like a bank then?
Click to expand...

I think the bigger picture paints a more fundamental problem:

My understanding is that these sites are completely unregulated and are for the most part incorporated in foreign countries.
 
They should just legalize it so they can regulate it. I don't see anything wrong with online gambling. I don't see anything wrong with casino gambling either. But online gambling is done in the privacy of your own home, how can there be an argument to make it against the law?

Legalize it, regulate it so the companies are legit, and problem solved.
 
You must log in or register to reply here.

Share this page
Back
Top