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interesting way to keep my money...

  
 
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Chopper
Old 10-10-2007, 12:37 AM     Post subject: interesting way to keep my money... #1 (permalink)  
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i saw something brand new that just happened for VIPs (at Absolute) and thought, "wow, if all sites go to this concept, thats crazy. what are they doing with my money to be able to offer this?"

Starting September 1st, Elite VIP Members will earn 9% interest per annum on their AP account balance with their new interest bearing account.

Terms:
--Maximum balance eligible is $500,000
--Your average daily balance must be greater than $1,000
--You may not have any payouts during the calendar month
--You must earn the VIP points needed to maintain your Elite status during the calendar month.
--Interest credits to your cash account will be given within the first 7 days after the closing of the previous calendar month
--Absolute reserves the right to withdraw this program at any time with 10 days notice

how bout that shit? if i were a higher roller, that would be VERY attractive. surely, that can outperform reloads? but, what/where are they investing my money to guarantee me 9 friggin %? and, how safe are they as an institution? i know they are reputable, but geez.

thats a wacked out certificate of deposit!

now, obviously, thats not a great thing for pros who need to take money out to live on, but if they can work their budgets correctly, and withdraw of other sites, or give AP money they wont use for 12 months, that could work out really well.

although, i dont know how you maintain your "elite" playing status w/o withdrawing money, if youre a pro. hmmmm.

but, nice concept.

my opinion is that stars is sitting on its laurels a bit....and letting the hungrier competition catch up or "out innovate" them. surely, stars doesnt want to drop in the online rankings? but, i AM surprised that they havent been more aggressive since the ban when it comes to reloads or marketing. AP never stopped sending me mail, electronic or snail. and i get popped with "newsletters" in my inbox all the friggin time. even FTP sends me more shit than stars.

i still like stars best, and i hope they start doing something....anything to keep their player base. if the fish get lured away, maybe then, stars will get a bit more aggressive. but, then again, they never really have been.


anyone doing/using this currently? if so, how do you like it? is it all its cracked up to be?

anyone else care to discuss this, in relation to stars being very steadfast in their lack of aggression?[/b]
LHE is a game where your skill keeps you breakeven until you hit your rush of random BS.

Nothing beats flopping quads while dropping a duece!
 
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Jibalob
Old 10-10-2007, 08:16 AM #2 (permalink)  
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9% ????

I dont know what the rates are like wherever you live but here in the UK thats about double what you could get from your high-street bank.

The question of what they're doing with your money.... well, they could be investing into a "superuser account" which would pay back around 100,000% per annum
PLEASE READ ULTIMATE BET THREAD IN "ONLINE POKER ROOMS" FORUM
Wait, this is .05/.10 and you got sexied, I can't believe that shit, limit must really be dying.[/quote]
 
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Chopper
Old 10-10-2007, 12:55 PM #3 (permalink)  
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9% is HUGE, which is why it caught my eye.

a savings account here in the US nets you about 2%. CD's at banks, around 5ish right now.

higher rates of return are found in real estate (easier said than done) and equity investments in the stock markets. but even there, over a 75 year track record, the average return is around 11-12%.

i figured they had to invest that money somewhere to make it grow...but, in reality, all the need to do is make sure very few can achieve their "9%" and use their rakes and BBJs to fund it.

still not bad if you dont need the money. beats leaving in some "guaranteed instrument" at a local bank.
LHE is a game where your skill keeps you breakeven until you hit your rush of random BS.

Nothing beats flopping quads while dropping a duece!
 
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Miffed22001
Old 10-10-2007, 06:24 PM #4 (permalink)  
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 apparently it works, i dont have elite vip yet fwiw and the games seem super fishy lately...
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drmcboy
Old 10-10-2007, 06:35 PM #5 (permalink)  
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 stars shows the new Daniel N commercial every 20 seconds of ESPN's WSOP coverage and has players at every table wearing stars gear. Where are you seeing more ads for Absolute than stars?

The program is a cute gimmick but fish aren't going to care.

Post ban, stars had added a TON of double stack tourneys to compete with Full Tilt and other sites that offered more play for your money and those new cash bonuses to try and keep high end players from leaving just to get rake back.
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I Like Pie
Old 10-10-2007, 07:03 PM #6 (permalink)  
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I would never trust AP with my money again or support them in any way.
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Miffed22001
Old 10-10-2007, 07:50 PM #7 (permalink)  
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Quote:
Originally Posted by I Like Pie
I would never trust AP with my money again or support them in any way.
they gave me 1500 in free stuff to get back on.
i happily agreed, whore i am.
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Chopper
Old 10-10-2007, 09:23 PM #8 (permalink)  
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Quote:
Originally Posted by I Like Pie
I would never trust AP with my money again or support them in any way.
care to share. i'm sure i've read it, but forgot.
LHE is a game where your skill keeps you breakeven until you hit your rush of random BS.

Nothing beats flopping quads while dropping a duece!
 
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