How safe is your money really on deposit in poker sites

[avongirl]

I don't know whether Virgin Poker would have been included in this, but it did just make me wonder how safe is your 'ring-fenced' money in poker sites if they have it deposited in some bank about to go bankrupt? :unsure

Saturday October 11, 07:54 AM HBOS Crisis Nearly Wiped Out Virgin By Sky News Sir Richard Branson has said his Virgin Atlantic firm could have been wiped out if Halifax Bank of Scotland had not been bailed out by Lloyds. The billionaire founder of the airline said HBOS refused to let his company withdraw one billion pounds of its money when it looked like it was set to go bankrupt last month. "Virgin Atlantic may have disappeared if HBOS had gone, it could have been that serious," Sir Richard said, adding it would have been "no fault of our own". In an interview with Fox News he said: "HBOS looked like it was going to go bankrupt in Europe so Virgin Atlantic rings up HBOS, we have a billion pounds on deposit - not really our money, it's people who've bought tickets, people who've bought holidays - and we said, 'We want it out. We want to move it to another bank.' "They said, 'Well, we actually, er,... Look at the small print, you can't have it out right now.'." He went on: "And now, fortunately, Lloyds (TSB) bank made a bid for them and we got our money out." Sir Richard made the comments as he explained why he thought governments, both in the US and the UK, should guarantee "all of their depositors' money in banks". "Once you've got big banking rumours, it's quite likely that that bank will disappear because everybody will take their money out of it," he said. A Virgin Atlantic spokesman said: "Richard was illustrating a point about the current banking system. "This does not reflect Virgin Atlantic's current position with its bankers." Last month, HBOS sought a takeover by Lloyds TSB to bring stability to the business after a run on its shares in the wake of the collapse of US investment bank Lehman Brothers, and concerns over higher funding costs in frozen inter-bank markets.

[Fluence]

Re: How safe is your money really on deposit in poker sites It's pretty scary. I don't think the truth about how close to complete meltdown we are has been reported.

[slapdash]

Re: How safe is your money really on deposit in poker sites Does anybody know any good Icelandic poker sites? :D

[GaF]

Re: How safe is your money really on deposit in poker sites Well - if Virgin Group have all/most of their money tied up in one bank then they need to sack whoever deals with their risk management!! Fundamentally though we cannot trust any site to look after our money and we shouldn't leave large sums with them - if Microgaming cannot be trusted - they've taken no responsability for the skins they kicked off the network (supposedly for rakeback irregularities) which sent the skins bust - who can be trusted? Apparently someone has just turned up on 2plus2 who had $400,000 with battlefield, money which has now "disappeared" :loon