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PokerStars And Full Tilt Refund Player Bankrolls

April 21st, 2011 Author:

PokerStars And Full Tilt Refund Player BankrollsIn the first piece of good news since the US government shut down the three biggest online poker sites in the country last week, Federal prosecutors have now agreed to allow two of the companies to return their players’ bankrolls.

Consequently,  the poker rooms will temporarily be permitted to access their seized and domain names so as to return their funds to U.S. players. In return, the poker rooms have agreed not to allow US players to play for real-money on their sites.

Click here for the poker rooms still accepting players from the USA.

As US Attorney for the Southern District of New York Preet Bharara explains:

“No individual player accounts were ever frozen or restrained, and each implicated poker company has at all times been free to reimburse any player’s deposited funds.”

“In fact, this office expects the companies to return the money that U.S. players entrusted to them, and we will work with the poker companies to facilitate the return of funds to players,” said Bharara.

This latest news was welcome relief for the thousands of American online poker players who had been unable to withdraw the money they held in their online accounts in the wake of the FBI indictments.

Despite the poker rooms assuring their customers that all the money was safe, many players were still on tenterhooks and left wondering whether they would have to wait months or longer to be reunited with their cash again.

After the agreement was struck between the poker rooms and the Justice department, PokerStars was quick to issue a statement which read:

“Returning US players’ funds is a top priority for PokerStars and the company can now start the process of returning money to its former US customers.”

However, despite the same offer being made by the Justice department to Absolute Poker, their has so far been no agreement made even as Absolute Poker continues to offer real cash games to Americans. Therefore, the players’ funds held at Absolute Poker and Ultimatebet are presently facing a more uncertain future as these poker rooms continue to put themselves at opposition to the Department Of Justice.

Online Poker News Monthly Archive
21st April 2011

This is the first good news so far…..although the agreement was come to yesterday….and I attempted to cash out my funds from Pokerstars last night, only to be told that It was unavailable at the current time………

21st April 2011

So, let me get this straight. Full Tilt & Poker Stars are now authorized to refund US Based players money. How exactly are they going to do that if the processors that they previously were using are deemed illegal due to fraud and wire transfer irregularities?

I’m guessing that this is the DOJ’s way of kicking congress into gear into passing legistatlion that legalizes and regulates On-line poker. Seriously, think about it. The DOJ can point to the 3 Billion of fees/penalties that they are asking for from the Poker companies, as well as the inevitable fees and or taxes that they will charge each and every US Based player who decides to withdraw their money.

The DOJ isn’t just going to let the On-Line poker companies distribute the money back to the US based players without controlling those transactions. They will use the guise of “protecting the interests of US Citizens” and will likely tax or have fees that total 30% of the amounts being withdrawn. The DOJ can then take the 3 Billion in fines from the companies and the countless Millions or Billions that they get from US players withdrawing and demonstrate to congress that the demand is present for Online Poker in the US, and they will then pass the legislation to regulate and legalize Online Poker in the US.

21st April 2011

i tried to get my money on full tilt and was told no

21st April 2011

i cant get my money out ,,greedy bastards

22nd April 2011

Hey Um… ever heard of a paper check? Mailed from overseas? Some people are so dense……

They are allowing US players to cash out, because its their money. In the DOJ’s eyes, every American Online Poker player has been taken advantage of by these overseas poker congolmerates….and the poker sites should return US Player’s money that they took advantage of. Not that I agree with that stance….but that’s how they’re attacking this. AS a morality issue, even though we all know it has everything to do with taxes, and nothing to do with morality.

The bigger sign they are attempting to legalize it here, is the fact that they’re strongarming the competition out of the market. Something that any big corporation would be sued and stopped for monopolistic practices for…..But its ok for the Gov’t to do it. They’re the Gov’t.

22nd April 2011

you can get your money back!!!! It takes a while but youll get it back they send a check, but you have to contact fulltiltin the uk

24th April 2011

I tried to w/d today and was denied. I doubt any of us will see that money any time soon. In fact, we will probably never see it.

25th April 2011

Brandon- Dense? Nah. Dense is thinking the US Gov will allow a company whose CEO’s they have indicted simply just send paper checks to the US based customers without wanting to have a say in it. Now that is dense.

I guess you don’t know how international commerce works, but if you have any significant amount of money yet to withdrawl from the Poker sites in question, you’ll see.

Dumb Dumb.

26th April 2011

You really don’t know much about this whole deal, do you Um? Dense is believing the US Government has that much control over a business’s operations who are domiciled outside of the United States. Sure, they seized the domains. The sites just went back up on a new domain and people were playing again 15 minutes later. The sites themselves blocked the US players from playing, not the US government. They did so as the right thing to do until the legalities take their course. And they froze the US Bank accounts of the companies. But they can’t touch any of their real accounts overseas. Its outside of our government’s jurisdiction.

They wouldn’t even know if a paper check was cut and mailed from a non-US account. I know plenty about INternational Commerce…..

I’m not as concerned as you think I should be. I know that much…..

Thanks for your concern though!

26th April 2011

“They wouldn’t even know if a paper check was cut and mailed from a non-US account. I know plenty about INternational Commerce”

You obviously don’t know much about international finance considering checks drawn on international banks that are cashed in the US go through the same federal reserve clearing system as US based checks and are easily tracked by the FBI and DOJ.

27th April 2011

Not even sure why I wasted time pointing anything out to Brandon, as indicated by his flawed thinking he doesn’t have any decent money (if any) on the websites to withdrawl. Enjoy withdrawling the $50 bucks small timer.

28th April 2011

Maybe a dumb question here, but……Do we get a refund of our current balance, or every deposit ever made?

6th May 2011

Lol. ThAt is dumb. Your right.

12th May 2011

No problem getting my $32,000.00

2nd June 2011

I have been trying to get my deposit back from Pokerstars since April 6. They said in essence, the cheque is in the mail. Then no it was canceled. Then download this and that software. I did never worked worth a damn. They still have my money and are making interest on it. Should they ever be legalized in the States they will NEVER see a single penny from me. In addition I am on my way to picket their WSPO circus, Yes I happen to live on Las Vegas
Pokerstars, gangsters

18th July 2011
tis not me

Is there any canadians getting their money back. I contacted Fulltilt and they keep sending the same message…can,t give refunds…well it is my money and i like to withdraw it and go to another site to play….just wondering if anyone can help me with this

2nd August 2011

why would u get a refund of every deposit u ever made when u already lost that money???

u think this is gonna be some golden ticket for all the people who lost thousands of dollars on this site? it would be in the hundreds of millions of dollars… i dont want to be mean but WOW that was incredibly stupid question.

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