Future Uncertain for Online Poker Cash Outs
Some Players Are Confident They Will Eventually See Their Money
Speculation is being flung around the internet in regards to what will happen to the millions in online funds currently sitting with the federally indicted internet card playing sites: Full Tilt Poker, PokerStars, Absolute Poker, and UB.
According to Full Tilt’s software, “Players located within the United States will temporarily be restricted from withdrawing.” The message also states: “We would like to assure you that your funds are safe and secure. Unused Tournament Tickets or Tournament Dollars (T$) can be converted into real money.” The alert did not mention anything about Iron Man Medals or Full Tilt Points (FTPs).
American players on PokerStars are also prohibited from cashing out, but the online site confirmed via its Twitter page that all player balances are safe.
Although the CEREUS Network was accepting US players during the weekend, rumors have been circulating that UB and Absolute Poker will now block those customers. It is unclear at this time what the situation is regarding player withdraws and transfers.
On Friday, shortly after players around the country began experiencing problems with recovering their digital funds, the online community was abuzz with people suggesting a simple strategy: Transfer money to a European friend and have him or her process the payout. However, as of Monday, Full Tilt Poker and PokerStars have disabled US players from making player-to-player transfers.
Despite all the commotion within the online world, Full Tilt pro Tom “durrrr” Dwan is confident players will be able to receive their money eventually. He has said on Twitter that Full Tilt will find a way to make pay outs, and if they don’t “Phil [Galfond] and I are out $1 million each.”
On Saturday, Dwan wrote that the odds are “way lower than 10 percent of Full Tilt Poker not paying.” He also said, “Would strongly assume [PokerStars] is the same.” Galfond shared Dwan’s sentiment, Tweeting that “we are extremely likely to be paid our [money],” and “however I think we can’t expect to get paid right away. It’ll take a few months at least. Focus your worry/energy on planning around that.”
Dan “jungleman12” Cates, online poker’s biggest winner in 2010, told Card Player that he had no comment on the issue of cashing out. Cates won $7.5 million on Full Tilt through 2010 and into the early months of 2011. It is unknown how much of that money is still online.
Be sure to follow CardPlayer.com for more information on this developing story.
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