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Showing posts with label paying US players. Show all posts
Showing posts with label paying US players. Show all posts

Saturday, May 28, 2011

It’s Saturday So What the Heck Is Going On In the Poker World?

USA Catches Its Breath from DoJ Attacks

Justice Department DOJThe original DoJ indictments targeted four cardrooms: PokerStars, Full Tilt Poker, UltimateBet and Absolute Poker. Of those cardrooms they have temporarily returned the .com domain names to PokerStars and Full Tilt Poker for the purposes of paying US players.  They also have an agreement with UltimateBet/Absolute Poker that those cardrooms will be allowed and able to return US player funds however the DoJ did not return their domain names.  Players can access them now at ubpoker.eu and absolutepoker.eu.
As far as returning funds goes only PokerStars has stepped up and actually accomplished this task so far.  It seems as though Full Tilt, UltimateBet and Absolute Poker are short on cash and looking to raise it either from the rake or (rumor has it for Full Tilt) by selling off part of the company.  In any case paying the funds owed to US players is a top priority for all these sites because they will lose the players in the rest of the world if they show they do not honor their player obligations.  There are other rumors and predictions that at least the beginning of a Full Tilt payoff for US players will happen by the start of the 2011 WSOP (that’s in just a few days so we will see).full-tilt-poker
This situation has also brought to light that Full Tilt (and possibly other cardrooms) does not segregate player funds from their operating capitol.  In the future having funds segregated until the cardroom actually “earns” the money through rake will be a must and hopefully a regulatory requirement which will eliminate these player payment issues.

Poker News Sites are Taking Advantage

I’ve seen several examples of poker news sites and blogs posting false news stories to make it look like their product is the one true cardroom and then blatantly post their affiliate link to this place at the end of their story.  Even news sites as large as www.cardplayer.com have been caught doing this with sites as lame as webcam poker or cardrooms on the Merge gaming network (which still serves US players).
I certainly understand the panic these places must feel in terms of paying their bills.  Right now almost 100% of all poker advertising income has ceased for the low limit poker sites that I own.  The big three cardrooms aren’t paying affiliates (yet) and once they do the player base won’t include US players which will reduce the amount of income for most US-based affiliates by anywhere from 75% to 95%.  I am  literally having trouble paying rent at the moment, but even so let’s have a little dignity and not mislead the very poker players we’ve always tried to help.  Ok?