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PartyPoker defrauding players for millions.

Discussion in 'Casinomeister's Poker Room' started by havanabanana, Oct 19, 2006.

    Oct 19, 2006
  1. havanabanana

    havanabanana Dormant account

    Occupation:
    number cruncher
    Location:
    Europe
    Imagine a Las Vegas Casino sponsoring a 4 day poker tournament with $5,000,000
    and they get 1,000 entrants paying 10,000 each to enter.

    So $15,000,000 in the Prize pool.

    After 2 days the tournament has to be cancelled for some reason outside the
    Casinos control. (Ebola Virus, Bomb threat or something else.)

    The 50 players left get paid out prizes according to chip count.

    However the total amount the casino pays out is only $5 Million, NOT 15 Million
    that was in the prize pool.

    So they do not only take back the $5 Million Seeded, but $5 Million more that
    were entrants fees.

    This would never happen in Las Vegas, as the Casino would go bust for sure,
    engaging in such a scam.

    But it did happen online, with the biggest poker room of them all, Party Poker.

    Below are some of the details of this scam, and I hope that you can do some
    further investigating and expose them for what they are.
    Party Defrauding players.
    Party claims to have paid out 14,405,786 to the holders of entries in the
    Monster promotion.
    This is a lie and can not possibly be true, and below is the proof that Party
    has defrauded its customers of millions of dollars.
    How much did Party Pay out from the 14,405,786 that they claim they paid out?
    We know that they paid out 1000 times $1800.72 for the Grand Final entries.
    (1,800,720)
    We do not know the exact number of Monthly entries that they have paid out, but
    we can estimate it pretty accurately as we know how many weekly qualifiers they
    have held (9) and how many of those 18,000 entries were used in the first
    Monthly (a little more than 7700).
    That leaves 10300, Let us add another 700 that they may have given out for the
    Monster questionnaire, and we have 11,000 Monthlies.
    Thats 11,000 times $350.09 (3,850,990)
    We have less information about how many Weeklies were out there, but we know
    that there were between 4-5000 who played each Weekly.
    If we Estimate 15,000 unused weeklies we surely are overestimating, As a quick
    look at the Monster Jackpot winners show that the Jackpot is paid out quite
    infrequently , less than once a week. Making it quite unlikely that there are
    huge amounts of unused Weekly entries out there.
    Recent Winners
    Winners of the Monster Bad Beat Jackpot
    Date
    Winners (Screen Name)
    Prize Money
    09/24/2006
    fosterdboss
    $70,342
    09/16/2006
    hippo_jr
    $86,870
    09/03/2006
    Da1Grosser
    $143,048


    That is 15,000 times $100.06 (1,500,900)
    Which Equals 7,152,610 which is less than half of what they claim they have paid
    out.
    But in these numbers Party also have added in the value of the weekly ($100,000)
    Monster Tourneys, and the Monthly (1,000,000) Monster Tourneys, which are not
    taken from the Monster Main pot, but were guaranteed.
    The value to deduct from the Monthly is $125 (1,000,000 prize pool / 8000
    entries)
    And the value to deduct from the weekly entries is $12.50 + $31.25=$43.75(100,00
    prize pool/max8000entries) + 2000/8000 of the $125 value of the Monthly cash.
    We then get 7,152,610 less
    11,000 times $125 (1,375,000)
    And less 15,000 times 43.75 (656,250)
    Equaling $5,121,360
    So Party had defrauded the players of 14,405,786 less $5,121,360 = $9,284,426
    Party refuses to give out the exact numbers of players getting the different
    amounts, that in it self is quite indicative that they are doing something
    fishy.
    They have however repeatedly stated that they have paid out the whole 14.4
    million, which is in no way true.
    You must register/login in order to see the link. to see what Party says
     
    1 person likes this.
  2. Oct 19, 2006
  3. dominique

    dominique Dormant account

    Occupation:
    webmistress
    Location:
    The Boonies
    So what was the bomb threat or whatever in the Party case? The law being passed?
     
  4. Oct 19, 2006
  5. pokeraddict

    pokeraddict Webmaster

    Occupation:
    Pro Poker Player
    Location:
    Las Vegas
    Yes, Party cancelled the Monster due to blocking US accounts. It made the tournament virtually impossible to run with so many US players holding tickets. This is a huge scandal that has been all over several poker forums. Luckily I play Omaha and stud so this did not affect me but I would be furious if I played at the Monster rake tables and got stuck like this. Some players are happy that they got anything but there are many out there that have done the math and see that it does not add up.
     
  6. Oct 19, 2006
  7. cipher

    cipher Banned member - being a jerk

    ANORAG DIKSHIT strikes again!!!

    Have a good one.
     
  8. Oct 20, 2006
  9. BBKPoker

    BBKPoker halfway to busto PABrogue3

    Occupation:
    None
    Location:
    Edinburgh, Seattle, Vancouver BC, Auckland
    Well:

    I had an entry into a monthly and a weekly qualifier and I definitely did *not* get paid for either of them (I table-shared the bad beat jackpot a couple of months ago which gets you two weekly qualifiers as well, and I made a little money and won a monthly qualifier with one of those entries).

    I mean, I guess I got 14.6k for table-sharing the bbj, so I'm not that upset, but yea, money is money, I'd like to get paid for my entries.
     
  10. Oct 20, 2006
  11. havanabanana

    havanabanana Dormant account

    Occupation:
    number cruncher
    Location:
    Europe
    You can cash out...

    ....your undervalued entries by logging in to your account on the webpage and go to under You must register/login in order to see the link. However there are rumours that the page is not working, so you probably have to contact the 'support'.

    Another way Party underhandedly is trying to steal your funds, by concealing the options available for you.
     
  12. Oct 20, 2006
  13. pokeraddict

    pokeraddict Webmaster

    Occupation:
    Pro Poker Player
    Location:
    Las Vegas
    What made this even more shady is that Party continued running the Monster for 2 weeks after publicly stating it would be cancelled. I am sure very few players knew this, especially non US players so they kept playing and paying the extra rake not knowing they would never get the promised tournaments.
     
  14. Oct 21, 2006
  15. paul02085

    paul02085 Dormant account

    Occupation:
    Mgmt
    Location:
    USA
    I will be surprised if the media doesnt report this (if they can explain in a way that lay people can understand). This could cause Party stock to fall even further.
    Despicable behavior. Couldnt happen to a more deserving company.
     

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