Full Tilt Poker No Closer to Allowing Withdrawals
27 May 2011
New about U.S. refunds has been slow in coming from Full Tilt Poker after FBI indictments shut down there site on April 15th. Even after a an agreement was made with U.S. prosecutors to release the Full Tilt domain for the purpose of allowing U.S. online poker players to withdraw their money, nothing has been coming and very little has been said from Full Tilt.
With growing concerns from players and word coming that PokerStars has refunded more than $100 million to U.S. players, Full Tilt did email players last Friday with a very vague email that in part said;
“We apologize for the delay and the fact that we underestimated the time it would take to work through these issues.”
A small step was taken by Full Tilt last week as well when Full Tilt began to convert tournament tickets into tournament dollars and then crediting accounts with cash. Though a start many Full Tilt players are still waiting for full withdrawals.
Today more information was presented in an exclusive article on eGaming Review site. According to the article the DOJ has unfrozen an account in Ireland freeing up some of the money owed to U.S. players. Still however no money is expected to be immediately available to U.S. players and there is no date to when this may happen.
According to eGaming, Raymond Bitar has been looking for outside investors to raise up to $150 million in return for a stake in the company and then use that money to return money to U.S. players but so far this attempt has been unsuccessful.
According to a FTP source, there was a $60 million shortfall when FTP credited accounts with deposits from accounts they didn’t know were already frozen. Add this to fact that soon they had all 9 accounts seized and this has caused a financial strain at FTP.
According to the DOJ,
“by its (Full Tilt Poker) inability to find a payment processor to process transactions involving US player accounts. The company was facing the shortfall because it continued to credit funds to player accounts despite being unable to actually debit (or “pull”) funds from customers.”
As of yet there is still no time frame presented from Full Tilt Poker to start the process of allowing U.S. poker players to withdraw money.
01 December 2010Full Tilt's Rush Poker Mobile Removed from Android Market
There was a rumor back in October of 2009 that Full Tilt Poker was releasing a real money poker app for the Android. In November of this year, the app was officially dropped into the Android market. Now, it did have its limitation as only Android 2.2 owners could download it because of the Adobe Flash requirement but it was launched.By most reviews we have come across, the app, Rush Poker Mobile worked as expected.Read full article
20 April 2011Full Tilt Poker Responds to FBI Indictment
Though most of the poker sites that have been effected by the latest FBI indictment have remained quiet, Full Tilt Poker has released this press release in regards to their CEO being one of the 11 charged: Full Tilt Poker is saddened by today’s charges against its CEO Raymond Bitar and offers its full support to Mr. Bitar and Nelson Burtnick. Online poker is a game of skill enjoyed by tens of millions of people in the United States and across the world.Read full article
20 April 2011Full Tilt Poker and PokerStars Reaches Domain Name Use Agreement
In a press release today the U.S. government stated it has reached a domain name use agreement with Full Tilt poker and PokerStars for the returning of U.S. poker players deposited money.Read full article