Poker by Proxy - Scam or Legit?

**mvjhon** · 11-13-2013, 05:32 PM

From their site:

Poker by Proxy is a new way to make money like no other. Using the massive profit potential of online and offline poker, we enable you to earn consistent profits from poker, without ever taking the risk of playing for yourself.

Poker by Proxy works by taking your money, and distributing it amongst our team of skilled poker players. Our players then use your funds, combined with the funds of every other Poker by Proxy member, to play in some of the most profitable online games, as well as large offline tournaments. Depending on the size of the pool, the number of games which we play, as well as the types of games will vary.

Playing poker is risky by nature. There are bad beats, unexpected losses, and days when nothing seems to work out. As a result, Poker by Proxy uses a stop loss system to ensure that not more than 5% of the total investment pool is put at risk during any given day. We limit daily losses to 5% of the total investment pool, meaning that you can never lose more than 5% of your investment in one day.

Minimum Investment is $25 Maximum Investment is $200,000 Variable Returns Paid Daily (Ranging from -5% to +25%) You can withdraw any of all of your balance at any time. Accounts are automatically compounded into one account balance.

Poker By Proxy was designed to be one of the easiest to understand investments online. While our profits are derived from Poker, you don't need to know a thing about Poker to take part. In fact, many of our members are inexperienced when it comes to playing poker, and have thus decided that it's better to trust their hard earned funds with a professional team, rather than taking the risk of playing themselves. While it is possible for anyone to make money playing poker, the learning curve can be steep, and unfortunately, costly. Poker by Proxy was developed by a team of professional poker players who have already endured the many lessons that lie along the road of becoming a poker pro.

**NikSam** · 11-13-2013, 06:35 PM

Cannot be legal (as described)
Not in any country I can think of.

As if you asking if it is a ponzi or they really play poker ?

Why do you care? they raise money by offering an investment - that is regulated.
Whatever they do with money they raised - lost it on roulette or poker or crack or whores or cars - should not be even a point.
This is clearly an investment which is using Poker as a legend. Not regulated, not licensed, not audited, not monitored - more likely crooks to take such high stakes against the law.

If you were talking about pokerbyproxy.com (you did not mention URL) - Yes, it is a HYIP Ponzi SCAM.