U.S Open Escrowed by Accu-Stats

Kudos to Pat for sure but from the way I read that link it seems the WPA stepped up also and made this arrangement a condition of sanctioning. That's a nice development as well.

Now we just have to sweat the added money.
 
watchez said:
So Barry has plenty of time to read AND RESPOND to comments today but when the Vietnamese player didn't get paid (along with others), he had no idea what was going on and was MIA from responding for days on end. Interesting.

And I am not rich like Barry who owns a 2.5 million dollar pool room. I work at McDonalds and $50 is a day and a half of wages for me. We can bet $50 and post it with Jay Helfert. $75,000 in escrow 90 days out from the tourney. No matter what the excuses such as a snow storm, his dog ate his bank card, the wire service was closed, Roberta forgot to do it. 90 days out from the tourney. Just say go. I'll send Jay a $50 bill and sign it. Barry can do the same.
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Can I post money for a bet on the post money on the escrow money not being posted?

Lou Figueroa
or sumthin' like that
 
Sounds like all is well.

Just have to figure out how to keep the little monkey shines away from the microphone.
 
I'll believe it when I see it.

This is all good news. However, as a VIP seat holder for two years at the open, one year at the Holiday Inn, which was horrible, and the other at the Marriott, which was even worse, I'm not going this year no matter how many lies Barry tells. As they say fool me once shame on you fool me twice shame on me. Here's what I'm going to do.

I'll watch the open on Accu-Stats and then I'll wait for the postmortem reports on AZ afterword. If the reports confirm that this year was better than the previous three then I'll consider re-attending next year. If it turns out to be another Cluster F then I will never go again.
 
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Nostroke said:
A VIP spectator for 8-10 years -maybe more, who was screwed about half the time. I finally tossed in the towel when my last 'VIP Seat' was beyond the table legs and i was 65% in the aisle with only a place at the table to put my left elbow. I hope he enjoyed the extra $180 he got from that move cause it was the last $$ he got from me.

One year the VIP area was so overrun with encroachers who were kneeling behind every seat, i couldnt even fight my way to my seat for the finals. Other years i was supposed to have an aisle seat only to have the aisle completely vanish in a reconfiguration before i got there. Nothing like that ever occurred with my VIP seats at the DCC.
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Don't hold your breath on getting a "From Barry" on that.

But his architect has guaranteed it will be perfect!
 
I'm glad to see Pat stepping in, but what was wrong in the past that prompted him to do so? I know about the payout problems, but not sure what caused them, and if Pat is just taking the entry fees, and ticket sales and putting them in the bank, why couldn't Barry do the same?
 
tim913 said:
I'm glad to see Pat stepping in, but what was wrong in the past that prompted him to do so? I know about the payout problems, but not sure what caused them, and if Pat is just taking the entry fees, and ticket sales and putting them in the bank, why couldn't Barry do the same?
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Rober-Taaaaa?!

I'd imagine it is because he could get away it.

Glad to see what should be the USA's premier event finally drag itself up to 2007. More accurately: I will be glad to see it...
 
tim913 said:
I'm glad to see Pat stepping in, but what was wrong in the past that prompted him to do so? I know about the payout problems, but not sure what caused them, and if Pat is just taking the entry fees, and ticket sales and putting them in the bank, why couldn't Barry do the same?
Click to expand...


Whatever was the case before in terms of what Barry could have done before (it's a long list), the fact is that he lost all credibility on financial matters. If Pat Flemming says the money is in the bank and will be paid out, I think most players would trust him.


Sent from my iPad using Tapatalk
 
Total upside for Pat on this, smart move by him. This way, he helps guarantee that one of the two events his company covers each year, gets to continue.
 
BeiberLvr said:
2-3 cocktails? What's in those cocktails? The entire top shelf?

If it truly only takes 2-3 cocktails to be three sheets to the wind, then perhaps he'd be better off cutting it down to 1.
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Round these here parts we call that a cheap date!!!! WOOOOOHOOOOO!!!!!
 
Nostroke said:
A VIP spectator for 8-10 years -maybe more, who was screwed about half the time. I finally tossed in the towel when my last 'VIP Seat' was beyond the table legs and i was 65% in the aisle with only a place at the table to put my left elbow. I hope he enjoyed the extra $180 he got from that move cause it was the last $$ he got from me.

One year the VIP area was so overrun with encroachers who were kneeling behind every seat, i couldnt even fight my way to my seat for the finals. Other years i was supposed to have an aisle seat only to have the aisle completely vanish in a reconfiguration before i got there. Nothing like that ever occurred with my VIP seats at the DCC.
Click to expand...

I'm sure Barry wasn't aware of this issue and will compensate you with primo VIP seats for the next 3 years.
 
lfigueroa said:
Can I post money for a bet on the post money on the escrow money not being posted?

Lou Figueroa
or sumthin' like that
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Sounds like an Abbott and Costello routine.

But I am ready to send my signed $50 bill to Jay Helfert as soon as Barry confirms.
 
uwate said:
This is the first ive seen of a 1099 for the larger events. I wonder how that will work out with all the players who get staked.
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The IRS absolutely requires 1099 and 1042s forms for these events. If a promoter fails to file them and also to withhold the appropriate amount from foreign nationals, he is responsible for paying the taxes and penalties.

I think there are lots of events that file the required paperwork.
 
amazing news overall!

I would think the foreign players might have mixed feelings on the 30% witholding

if Barry has always paid eventually I'd probably rather go through him over the 30%

personally, I think the laws that require paying taxes on winnings gathered from pooled monies is wacky in Canada we have no such requirements

kudos to accustats for stepping up here, smart and bold move
 
smashmouth said:
amazing news overall!

I would think the foreign players might have mixed feelings on the 30% witholding

if Barry has always paid eventually I'd probably rather go through him over the 30%

personally, I think the laws that require paying taxes on winnings gathered from pooled monies is wacky in Canada we have no such requirements

kudos to accustats for stepping up here, smart and bold move
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They get to deduct their flight, hotel, rental car, and a ton of other expenses. If it is taxed as ordinary income which i think it is, tax on the first 15k after expenses is less than 500 bucks with no kids.

It doesn't matter if they take out 0% or 30%, at year end, they will still owe the tax for whatever bracket they are in. The take out more or less ensures they file taxes
 
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itsfroze said:
So Roberta ask Barry to answer this.

If all the added money has not been deposited into Pat's account by the July 23rd date and/or if the WPA pulls their sanction for any reason,
will all players who have already paid their entry fees prior to the July 23rd date get a 100% refund if they so desire ??? This was left quite
vague in the articles, by both Pat and Barry, I was wondering why ?

You answered a lot of other questions, I guess you just missed this one. :wink:

PS.
As the players go, I think there's no way that they would send in their entry money early
(prior to July 23rd) without this guarantee, with this events past track record and all the
hollow promises, could you blame them ?
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Barry says: What you snorting man, I want some of that.
 
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