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Showing posts with label Player's Fund Legal Guide. Show all posts
Showing posts with label Player's Fund Legal Guide. Show all posts

Saturday, July 16, 2011

PPA Legal Eagles Crack the Code for US Poker Players with Unpaid Funds… Bottom Line? You’re Screwed!

No seriously, you are screwed.

lawyer_simpsonsThe newest non-news going around is the Poker Player’s Alliance new Player’s Fund Legal Guide which supposedly informs the group they call (and this is a direct quote) “individual players who have not been able to access their online poker funds held on account” or in short “everyone that didn’t have their money on PokerStars.”

In this “legal guide” they basically tell the US poker player that, while technically they do have a right to the money they have on deposit, it is going to be really, really hard to get that money since 1. Lawyers are expensive, 2. Tracking down people in foreign lands is hard and 3. You are obviously not on a lucky streak having had your money grabbed in the first place.

No, seriously that’s what they say.  Here’s the summary (another direct quote):

SUMMARY: Players, especially players owed substantial sums, should definitely speak with their own lawyer about whether it is in their interest to file a lawsuit either individually or as a self-defined group of similarly situated players. They must balance the costs and risks against the benefit of having an actual judgment to enforce in a foreign court or a foreign bankruptcy proceeding.

- PPA Player’s Fund Legal Guide

Let me crystalize this even more:  The PPA spent WEEKS coming to the conclusion that the tiny group of poker players who have GIANT balances and that means MILLIONS on account should TALK TO THEIR LAWYERS about maybe trying to get it back.  Guess what PPA?  They already did.  Because they have millions of dollars.  And a lawyer.

As far as the rest of the suckers (including myself) that have a balance in the hundreds or thousands of dollars—well we are at the mercy of whatever ultimately happens with the various online poker rooms and we didn’t need the PPA to tell us that.