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Absolute Poker and Ultimate Bet Players May Get Some Money Back

December 30, 2011

When the Department of Justice shut down the four biggest online poker sites in the US online poker market on April 15th of this year, millions of online poker players were locked out of their favorite sites, as well as screwed out of whatever funds they had in their player accounts.

Since April 15th, known as the Black Friday of online poker, the DOJ has filed charges of money laundering, illegal online gambling, and fraud, and the cases are currently being tried. One major element of these cases is the frozen bank accounts that contain massive amounts of online poker funds that actually belong to individual US players. Since the freeze, players have been left to wonder if they will ever see their money again.

Online poker sites affected by Black Friday, Absolute Poker and Ultimate Bet, now shut down to the public, may be trying to pay players back, according to confidential info found by PocketFives’ Adam Small. Apparently, the two sites are beginning proceedings to close down operations officially, which will begin to pay players back funds that have still been sitting in the frozen bank accounts. And while players may not be getting back their full account values, something is better than nothing at this point when pretty much all hope was otherwise lost. Repayment might be as low as 25 cents on the dollar.

Brent Beckley, co-founder Absolute Poker, has plead guilty to charges put against him by the DOJ. Whether or not there will be future legal avenues for players that will help them get all the money owed to them is unclear, but as they now have nothing, 25 cents on the dollar should be considered better than where they are at now.

Written by Mac · Filed Under Poker News 

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