The state of … hell, I don’t know.
Bill Rini has an interesting post up. The Same can be said over at CrAAKKer. It is about Cereus aka Absolute/UB. Cited is the chortling of Daniel. They all have interesting views and I suggest a look. OK, we’re all up to speed. I guess I could throw in Waffles but he just is just ranting as usual.
Everything they say is, more-or-less, spot on. It is a sad, despicable tale. Line them up against the wall and make the world safe for democracy. So, why did I hang around and on UB to the seemingly bitter end? Was I a fool for doing so? Will I ever see my money?
UB was always good to me. I know … but it was the softest site over the years that I could find so on a regular basis. I came and went over the years and almost always left with more than I arrived with. Even this last trip doesn’t carry a true cost as I’d withdrawn the original deposit. Playing 3.30 small stud8 tournaments was not a way to wealth and fame. But, I crushed it; not that it means much.
There is information that UB has met with the Feds and is setting up repayment. I really doubt it will happen. It should. I visited the Kahnewake website the other day to look at their promises. They “license” FT and UB. In the old days, they pretended that they did audits and had requirements. When the UB cheating hit or sometime after and their promises were found wanting, they’ve seemed to have remove all the stuff about escrow requirements and the like. So, maybe UB liquid assets will come out of the coffee cans but maybe not.
If you click through on the image, you’ll see I have $200 and change on the site with little expectations for seeing the money.
|From May 11, 2011|
The part of all this that seems to get bypassed is that the business that provides us with a game is, has been, and will be very one sided. Bill Rini, as poker room manager, is an honest man. But a business’ primary goal is maximizing profits. It isn’t illegal or bad; it is how things operate. Without the vig, winning player could jump 10-20% from the likely 95% losing base. The experienced casinos with even stronger goals and bigger stacks of bonds to retire are looking to enter the picture.
What that means is that it is possible that even the UB scandal or Dutch Boyd’s stiffing the players will seem like the good old days. Pre-UIGEA the player costs were ridiculous. Part of that made the folks I worked for very happy. But, no small part went back to the players. The reason — pure and simple — was competition. Our government has a history of destroying competition. Right now AT&T is trying to buy the #2 player in the cell phone market. That’s the same AT&T that Judge Green broke into little pieces. The government smiles to their funders and lets them be reassembled into more egregious entities than before. They make them “too big to fail” and cost us even more than they tax us.
In the scheme of things, the UB meltdown and various prosecutions end an era. The era actually ended when the Feds got involved with the UIGEA. That day ended competition for your and my business and that will only get worse. So, I lose my $200 in winnings. Believe me, the worst is yet to come.
All wasn’t lost…
I played on UB and all I got was this crummy tee shirt.