Friday, April 15, 2011

Faldo Thinks Full Tilt Poker is on Thin Ice

First of all, I want to thank all my readers for coming forward with their recent Full Tilt cash out stories. [Insert sarcastic smirk here]

Second, I want to tell you that I emailed Full Tilt and told them I was going to post this article - here and on poker blogs around the country. No response from Full Tilt except for a form letter explaining to that their customers are important to them.

Customers important? Ya think?

Let Faldo make his case as to why he thinks Full Tilt is cash – poor and/or customer tone deaf:

1. Their customer service is the absolute worst on the internet. I’ve had sites that were going under at least respond quickly to emails, phone calls or chat windows. Full Tilt does none of this. You send an email, and you may or may not get an answer in 3 to 5 days. Even then, it is usually a form letter. Pathetic. They must have cut staff to save cash.

2. Cashing out of the site appears to be a “run-around” exercise with all the appearance of a Ponzi scheme. They delay sending funds by pretending to have “bank issues”, “wire transfer issues”, “computer issues” or issues with your account information. Cash poor companies do the same thing with creditors.

3. Asking for a check hits you with a big fee. So small players have to leave money in their account. Why cash out $100 when it will cost you $25 and take weeks or months to get it?

4. Advertizing overhead appears to be excessive. Is it necessary to be paying over fifty pros to be members of your site? In an attempt to overtake PokerStars for the #1 spot, they may have over-committed resources. If you have Phil Ivey, do you really need anyone else?

5. Expenses incurred developing new software – “Rush Poker” and to keep track of their many “loyalty programs”.

6. Expenses of paying out all the “bonuses” and “cash back” for all their royalty programs.

7. The Full Tilt Store has eliminated the best offerings of goods you could receive for their Frequent Player points and most of the good ones left are “Out of Stock”. Translation; we can’t buy them or pay you for your FPP’s.

8. Items purchased at the FT Store with FPP’s takes weeks to arrive. Again, a sign of no staff, no inventory, no cash.

I will be taking my cash out of Full Tilt…..if I can get it. I want to beat the “other” rush that will start at Full Tilt.

How the #2 internet poker site in the world can be in financial trouble is hard to fathom. If they are not in financial trouble, then they culturally disrespect their customers.

Either way, Faldo is out of there, except for maybe FPP ‘freerolls’ or another Faldo Challenge at FT. Maybe do a Chris Fergusson starting with ‘zero’ dollars.


pre01 said...

They sure do send a lot of promos my way. I like their short little video clips, though. 3-4 minutes long on a specific situation.

pre01 said...

Yikes! Check this out.

Poker Stars, Absolute Poker and Full Tilt.

Nik Faldo said...

I knew something was up.

Brian said...

Faldo, here's another article to back your contention - lookin' more and more like a great call on your part!