Full Tilt Poker Players May Soon Be Reimbursed

March 18, 2013 -

Will Full Tilt Poker players left in the lurch after the Department of Justice shut the site down finally be getting their money back? It would seem that the answer is yes, but when exactly has not been determined quite yet, according to this Verge report. Back in April 2011 the Department of Justice shut the site down, alleging that Full Tilt Poker and two other gambling sites had circumvented U.S. laws by disguising payments from U.S. gamblers as payments to fake online merchants.

The U.S. government also alleged that the sites circumvented gambling laws in several states. The DOJ arrested the owners and filed a $3 billion civil suit against Full Tilt Poker and others. Later the UK shut down Full Tilt's operation there as well. Naturally this tied up all of the money players were owed.

In July of that same year a deal made between Full Tilt rival PokerStars and the DOJ resulted in the company purchasing Full Tilt under the condition that it pay back all uncompensated players. PokerStars will be paying out an estimated $184 million to players outside the U.S., with a portion of a separate sum of $547 million to be used to compensate players in the United States. PokerStars has been unable to operate in the US since April of 2011, but the company's move to purchase a real casino in Atlantic City may allow it to enter the US market again.

The good news for players is that an administrator for the whole claims process has been announced, and that information for players looking to collect their money will be detailed "soon." You can find out more about that at www.fulltiltpokerclaims.com.

Source: The Verge


 
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