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Full Tilt Poker Releases Update on Player Accounts

Online Site Credits Tournament Tickets and Dollars into Cash

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At just after 3 p.m. PST on Friday, Full Tilt Poker released updates on the situation regarding its player’s Ticket and Tournament Dollars, as well as its Black Card and Iron Man promotions.

In an email to players, the site states that it has “converted any Tickets or Tournament Dollars in your account to cash.” Tournament Dollar balances have been converted at a rate of $1 for every T$1. Also, each Tournament Ticket has been credited at full cash value. Ring Game Tickets which expired after April 15 have been credited at their initial cash value, or at their current value if partially used. In addition, Full Tilt Poker states on its FAQ page that Black Card and Iron Man statuses will be maintained.

The site maintains its official stance on cash outs: Since April 15th and the days immediately following, Full Tilt Poker faced numerous challenges and hurdles to ensuring the smooth operation of its international business and the orderly return of US player funds. FTP has worked tirelessly to address these issues and has made significant progress on both fronts. FTP’s international business operations are returning to normal while we focus on ensuring the safe and orderly return of US player funds. We are absolutely committed to making sure that US players are refunded as soon as possible. We apologize for the delay and the fact that we underestimated the time it would take to work through these issues. We will update our US players when we have more specific information to provide.

 
 
 
 

Comments

notCIA
over 3 years ago

"...Full Tilt Poker faced numerous challenges and hurdles to ensuring the smooth operation of its international business and the orderly return of US player funds."
"We will update our US players when we have more specific information to provide."

How about you tell us exactly what are the present challenges and hurdles to returning our money? That would be specific information you possess. I would like honest and full disclosure now, nothing less.

I am amazed players in other countries aren't demanding their money back now that they see how US players are being treated. The appearance is the player's money was not kept segregated but FTP won't own up to it's shady practices.

I bet and hope some people are going to jail.

 
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Staphylococcus
over 3 years ago

@notCIA, I agree that it appears as if the player's money was not kept segregated and have heard other respected knowledgeable members of the poker community surmise the same. This is not uncommon for businesses to do (ie banks, etc) but they definitely should have had a better contingency plan knowing that this day would most likely happen.

@takedown, while I agree that the manner in which the UIGEA was "midnight dropped" last minute to the Safe Port Act was about the highest level of BS I've ever seen, it is unfortunately common practice (doesn't make it right) and is not technically unconstitutional.

 
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lowstakesgrinder
over 3 years ago

I hope that scumbag howard lederer and phil ivey both go to jail.

 
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takedown
over 3 years ago

This crap would stop if our President would declare the UIGEA unconstitutional and unenforcible, the same as he did the DOMA (defense of marriage act). I have started a petition to do just that.If you wish to sign it before it is sent to President Obama, go to the following link below SignOn.org which is a cousin to MoveOn.org.
thanks
takedown.
http://signon.org/sign/president-obama-stop?source=c.fwd.in&r_by=161170

 
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takedown
over 3 years ago

This crap would stop if our President would declare the UIGEA unconstitutional and unenforcible, the same as he did the DOMA (defense of marriage act). I have started a petition to do just that.If you wish to sign it before it is sent to President Obama, go to the following link below SignOn.org which is a cousin to MoveOn.org.
thanks
takedown.
http://signon.org/sign/president-obama-stop?source=c.fwd.in&r_by=161170

 
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takedown
over 3 years ago

oops sorry for the doubletake. I thought the first one didn't post.

 
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PANTERA
over 3 years ago

I assume FTP doesn't have the money to pay all US players so they're collecting rake now.
Ivey's probably on golf course betting 100k a hole and saying ,''I hope someone fixes this mess".

 
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blegend
over 3 years ago

This is hardly an update. Just the same nonsense as every other "update" Full Tilt has given. Disgraceful.

 
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archmage
over 3 years ago

Orderly release of US funds? I am not even permitted to sign on to the site and my emails are ignored!!!!!!!!!!!!

 
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Arturo_Fuente
over 3 years ago

Three observations:
1. Did PokerStars returned all funds to US players?
2. FTP may have problems to PROCESS returns of the funds since their accounts were frozen by DOJ
3. Where is our anger that the whole world keeps playing and we can only watch.
4. I would like to know if anything is being done to allow return of US players to FTP and Stars
5. My main question is - why small sites that still accepting US players are NOT growing rapidly?

 
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trentbridge
over 3 years ago

I got my funds back from PS promptly. I share your anger that poker is illegal online in the US. Unfortunately we have the NFL opposed to online "gambling" as they were the shadow force behind the Kyl/Friest midnight coup! The only way we get online poker in the US again is if the gambling interests i.e. casinos see that this would benefit them too.

Question:

If you checked into a casino in LV and deposited cash at the teller's cage, why couldn't they allow online poker from their own rooms/cafes/bars? They do it for Keno. I know it sounds crazy but they can't match the low limit games that the internet can provide since live dealers aren't that fast. How many multi-table players would stay at such a casino if they could play these tables..
Imagine a dozen casinos combining to host an online tournament for their guests! These players would be on their permises to use the poker rooms too!

 
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JamesScou
over 3 years ago

It definitely seems as though Full Tilt is playing the ol' stalling game, and collecting every penny of rake they can until they have the money to refund U.S. players. If Pokerstars was able to take care of the situation as quickly as they did, then Full Tilt has no excuse. NO excuse.

 
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Arturo_Fuente
over 3 years ago

I may agree FTP has NO excuse. I still have my question not answered. WHY small sites that still accept US players are NOT growing rapidly? Why US players can't find a new home for online gaming (not gambling)? To name a few - Carbon and Cake are still welcoming US players. Selection of games and tourneys is limited due to small number of players. What is the reason US players that are anxious to play are hesitant to register on these sites?

 
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lowstakesgrinder
over 3 years ago

Arturo i'm pretty sure cake and many other sites were shut down today also. Merge and bodog will also be shut down i'm almost 100 percent sure of it. If they were smart they would notify u.s. players to pull out of their site, well at least bodog would, i doubt merge has the funds and i doubt many of the sites busted today also have the funds.

As for full tilt, well it's no big surprise with a company run by scumbags like howard lederer and phil gordon that it's taking forever. I will not under any circumstances return to that piece of shit site after the smoke blows over , the dust clears, and online poker is finally legal again.

 
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Arturo_Fuente
over 3 years ago

I feel your pain my friend. But let me repeat what I alredy said. People in US will still play online. One way or another. Clear and simple. Yes, they can shut down the sites but they can't shut down the demand to play. There will be ways of connecting to major sites through rumote access from foreign IPs. Just wait. You can't stop that.

 
 

gitana
over 3 years ago

It is amazing that PS took care of everyone so fast and yet FT just drags their heels. I've since opened accounts with Bodog, Lock, and Cake (I use to laugh at their advertisements in cardplayer and think there was no way I'd ever play there lol). I'm waiting to see if these sites start expanding once people give up waiting for PS FT and UB to come back.

 
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lctom
over 3 years ago

THEY WILL GET THEM ALL BY THE GOVERNMENT ANYBODY THAT PUTS MONEY ONLINE IS A FOOL WELL I GUESS $50 OR LESS BUT BIG MONEY NEVER

 
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clunker
over 3 years ago

Trentbridge do you think it is economically feasable to rent a room for 50$'s and up just so you could play what is basically penny poker. Casinos would love to fill there rooms this way but I think they realize there would be no players.

 
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