Full Tilt Poker - recovering money

three chances of that happening and none of them give you any hope.

Have they even paid the US players as yet?

desperate from them.

I'd say you have a fair chance of getting part of it back at least, but you will very likely have to wait a long while.

Don't think they have paid back US players but I didn't know this until today! It is completely scandalous that the US government can intervene to close FTP's US operations down, yet not put measures in place to protect the consumer. Just more evidence that gamblers are seen in a dim light by the powers that be and that any money invested in gambling activities is seen as disposable. Hope you are right turtleshead.

Just seen this....

The above named companies (Full Tilt) must, until the Suspension Notices are cancelled or the Commissioners of AGCC have reached a determination at the conclusion of the hearing convened in accordance with Regulation 46 of the Alderney eGambling Regulations, 2009 cease to exercise their eGambling licenses, which means that these licensees must from today cease to:-

■Register new customers
■Accept deposits from existing customers
■Allow existing customers to withdraw funds that are held in their accounts
■Permit customers to participate in any form of poker game play or gambling transaction.

:o

^^^ it's a lot more complicated that that I'm afraid.

reply was to doantwintooeasy

Surely this also has huge knock on effects to consumer confidence in other sites ...esp Stars?

Just withdrawn my entire balance from there...irrational perhaps ...consumer confidence a fragile thing

Stars are operating under a different licencing authority, and have refunded US players, the failure to do the same was the main reason why FT's licence got suspended. Maybe FT could not afford to do so at present?

I can't say I blame you, but stars looks reasonably safe imo.

must admit i only know the bare bones (Illegal payment processing etc)... but this is all hidden from the consumer who has invested his / her money in good faith.

Bad enough when a company goes bust of its own volition but even harder to accept when this is state interference without any consumer protection in place.

Basically every penny of stars customers money is held in its own secure bank account. FTP holds money in personal bank accounts. Stars is 100% safe. If everybody who had savings in a bank tomorrow went to withdraw they would not be able to as funds are used for loans, mortgages etc. People never all withdraw at the same time....unless the american government have just shut you down! So FTP has used players funds never expecting to be asked for it all at once.

^^^ spot on

spot on x2

...

tom dwan on tweeting their might be a chance of a new owner.

I'll put some cash back in stars then. I must admit I did the same as Roy

Full Tilt Poker are to be bought out by a group of European investors, according to sources in America.

The LA Times are reporting that the troubled online poker room – whose American operations were shut down in April by US federal authorities – signed an agreement with the group on Thursday. It is understood the deal would give the investors a majority stake in Full Tilt’s Irish parent company Pocket Kings, as well as providing funds for the repayment of Full Tilt customers whose accounts were frozen following the April indictment. Money will also be provided for the settling of a civil lawsuit brought against Full Tilt by the U.S. attorney's office.

Meanwhile, an attorney representing Phil Ivey, the poker professional who sued Full Tilt following their failure to repay player funds, has said that his client intends to withdraw the lawsuit as a result of this latest development.

Full Tilt’s European operations were shut down yesterday following the withdrawal of their Alderney licence by the Alderney Gambling Control Commission.


...

good news. Phil Ivey withdrawing his lawsuit too.

Yes...but how long will it take? Will large numbers of customers have the confidence to deposit again? etc.

hopefully they can get their license back next month but even when they do go back online people will just withdraw all their money straight away.

GG