Poker has become a very big ponzi scheme take for example the Daniel negreanu sponsored poker site GGPoker or pokerstars, these sites do not have the funds deposited with them , for example if there are ten thousand players and together they have deposited 1 million dollar the site is only going to have 10 to 20000 dollars. And the always makes new excuses at the time of cashing out. Several large cashouts are continuously blocked and the regularly lock and close accounts of big winners.
the same scenario happened when DOJ accused full tilt Poker and pokerstars of running a ponzi scheme, the players had chips of 430 million dollars , and this should have corresponded to the funds that the site owned in its bank accounts , the rake was never enough for the company to run its operations, the owners of the sites worth buying mansions, expensive cars and taking foreign vacations.
the same scenario generally happens at all new poker sites where the owners use the funds deposited for their own use, several Indian poker sites like Spartan Poker, pokerbaazi, adda52 have been accused by the users on the popular review platform mouthshut.com.
in just couple of years the owner of Spartan Poker had bought for himself expensive cars, posh house in Mumbai, and mingling with the stars of Bollywood.
poker sites are investing heavily today in advertising, twitch marketing, affiliate marketing in the hope of finding new fish.
the players still do not understand how much the deck is stacked against them.
poker scout which used to offer fair reviews of online poker has been completely bought out and replaced with affiliate ads of the poker sites.