Online Poker – Will Full Tilt Poker Fold?

admin — Fri, 12 Aug 2011 16:54:04 +0000

It looks as though there will be no speedy resolution to the problems of Full Tilt Poker. This online poker site also had its domain name seized by the US DoJ on the 15th April. Much like PokerStars they made a deal with the Department of Justice that they would only open their virtual doors to their UK and European facing fans, and all that US players could do was get access to clear out their accounts.
PokerStars went ahead and did this – processing the necessary withdrawals. Full Tilt was not processing withdrawals and on the 29th July the Alderney Gambling Control Commission (AGCC) revoked this site’s right to a license. The AGCC cited the DoJ indictment, but we believe there was more to it than this. Following suit ARJEL, which is the French regulator, revoked the French Full Tilt license shortly after the AGCC action.
There is a hearing pending and scheduled for the 26th July 2011, in London. Paddy Power – the sports betting site is offering odds of 8/1 on a prop bet, that Full Tilt will not re-open for real money online poker games after the hearing, on the 27th July. We think they are correct.
There has been speculation that a European company is keen to take on Full Tilt. But whether or not this means members will be able to withdraw their funds at any point in time, is still very much a moot point. Lawyers for Full Tilt have mentioned a pending deal, but nothing about this site seems to be cast in stone at the moment – everything we hear appears to be pure unadulterated speculation. In any case – what European investors would be prepared to take on all this legal rubbish, as well as pave the way to pay back members, and take care of class action as well as copycat law suits. How good could an investment like this be?
While Full Tilt’s lawyers have also told reporters that these so-called European “investors” have met with both Arjel and the AGCC, and plan to meet with the DoJ in terms of a settlement, this does still not offer much hope to ex-pat players. Certainly there will be no speedy resolution! But all of this action and inaction is bound to change the face of online poker in the US for ever; if there is ever online poker available in the US again!
In the meantime a ton of European facing sites have been keen to take up where Full Tilt left off, or should we say ‘clean up’ after the site. There are tons of special offers going and even Paddy Power poker had special promotion going to fast-track or “Green Card” Full Tilt players who have been ‘black carded” by the site. Titan Poker is offering rake breaks, Party Poker is getting in on the party too. It is actually a regular bun-fight for sites trying to improve player acquisitions on the backbone of Full Tilt’s online poker misfortunes.

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Online Poker – Will Full Tilt Poker Fold?