Well, it appears that FT's gaming license has been suspended.  There are rumors they may still operate without their license.  I would imagine they are scrambling around to find a new place that would issue them a license.  But if it's true about the license suspension, then it's basically a certainty that FT will fall out of the #2 spot in the poker hierarchy.  Just wow at how poorly they ran that company.  Even if Ray Bitar was a clueless schlub, you would think he would have hired some "qualified" financial experts to manage his money.  Or at the very least, some dude in the company who wasn't a level ZERO thinker, who could actually say to themselves... "what could happen next?"  I mean he WAS sitting on a billion dollar company after all!  I hope they actually had another gaming application processing...  but I'm not holding my breath.

I'm a little annoyed that the odds of my seeing my FT money went from about 75% to way less than 50% (assuming the reports are true).  But I don't worry (too much) about things out of my control. Because even if they somehow get up and running, they will be flooded with withdrawal requests and I doubt they get much new business.  And they didn't have enough cash to begin with.  Doh!

Years from now, this could be a business school case study on how you can have the best product out there and still run the company into the ground.  There's more to running a good business than just having a good product.

I'll post some money management tips next time for those who still want to play online.  I actually have a huge backlog posts I had been wanting to put up, but I just haven't had the time.