Full tilt poker shut down
Full Tilt Poker Shut Down?? Updated July 30th
You heard right, they lost their license and were told to cease and desist immediately. Now I cannot log in, the tourney I was in paused at first, then kicked me out.
Sheesh, I make one final table in 2 months and the site goes to pot.
You heard right, they lost their license and were told to cease and desist immediately. Now I cannot log in, the tourney I was in paused at first, then kicked me out.
Sheesh, I make one final table in 2 months and the site goes to pot.
Comments
Had less than $100 on there so not a huge loss, but still that's not a good sign.
Just out of curiosity, what license did they lose. By this I mean what jurisdiction would they fall under as they operate internationally?
Actually forget my question completely. Just saw other post.
Sucker! I only had $3.00
Wonder why only FTP and not Stars as well??
Pretty sure it's because FTP was floating funds for payouts.
PS probably won't be a problem since they have been paying out without an issue.
BTW Moneybookers has suspended all transactions with FTP
Welcome - Gambling Supervision Commission
"GSC Statement 29th June 2011
The Isle of Man Gambling Supervision Commission wishes to make it clear that the licensing status of PokerStars in the Isle of Man remains unchanged following today's statement from the Gambling Control Commission in Alderney. Alderney is a separate jurisdiction from the Isle of Man and the operation in question is separate from PokerStars.
PokerStars continues to demonstrate compliance with its licence conditions in the Isle of Man. PokerStars continues to offer withdrawals to any players who wish to withdraw their funds, including players in the USA to whom PokerStars does not currently offer real-money gaming."
Misread this...I don't think I"ll be able to withdraw as they MUST cease to allow withdrawals...fml
Please "share" away!
DOUGLAS, ISLE OF MAN – JUNE 29 – In light of today’s news that Alderney Gambling Control Commission has suspended Full Tilt Poker’s license, PokerStars wishes to assure our customers that their funds are completely safe and that our operations are completely unaffected. The Isle of Man Gaming Commission today re-affirmed that PokerStars' worldwide licensing is intact and that our operations are in full compliance with all of its requirements. PokerStars' online operations continue as normal and all funds in players’ accounts are safe and available for withdrawal as usual with no delays.
PokerStars also remains in full compliance with our licenses in other jurisdictions where we are regulated, including France, Italy and Estonia.
As provided under our licensing, PokerStars has always maintained the integrity and security of our players’ funds, by keeping all such funds in segregated bank accounts, always available for immediate withdrawal.
Since the actions of US Department of Justice in April, we have returned more than $120 million to US players and continue to act upon requests as they are received. Players outside the US have not been affected and all cash-outs have been processed without delays. Further, PokerStars entered into an agreement with the Department of Justice which expressly confirmed the company’s ability to operate outside the US.
We will continue to operate as a responsible corporate citizen and are committed to serving the needs of our customers in complete compliance with our regulatory requirements.
so I bought 1 $10 ring game ticket, I played that at 2/5 (cent
Looking at it deeper there is some MASSIVE scam in full tilt I think and there will be more turning upon them.
My guess (just a guess) everyone in positions of power BUT ivey is trying to just grab any funds they lay claim to being percentages of the company FTP are just grabbing what they can and letting everything go all to hell which can easily be looked at, at whats happening its easy to just point and say but, someone would be talking by now if there wasnt some massive screw up in the mix!
But hey I could be way off with this too!! ha
*sigh*
Paying out all accounts can only happen if they have the funds to do so, all at once. From what little I have read, FTP does not have that kind of money available. Second, this time it was the Alderney eGaming Commission that revoked their license. Tenuous though that licensing may be in a physical court, not having it is the kiss of death in terms of FTP's credibility in the on-line gaming world. Thus, it is not the US government that is robbing you.
Ivey made an offer to buy controlling interest in FT; was denied, and subsequently sued FT. Apparently he had someone who was more than willing to support and buy the organization and pay back the US player base, while still able to keep up and running. Several other offers were made recently as well, all shot down by Lederer & Company, but Ivey's offer was apparently the most appealing, particularily to the DoJ, which considers repayment to US players a crucial move for the company to do to at least appear legitimate.
Fast forward to earlier today, FT is now dead, and anyone with $ on the site can most likely kiss it goodbye. Even if the hearing on 7/26 goes in FT's favour, the repercussions of recent bad decisions (ie refusing to pay back players and now the total shut down of all operations) will ensure that even if FT could pay back all players, it would be to no advantage to them as they will NEVER get the player base they had in recent years.
Ivey meanwhile, is rumoured to be cooking up something on his own. Interested to see what that may be, but as far as FT is concerned, the rein is over.
The damage done to FT, Lederer, and who ever else is on the top rung at that organization are doomed. So are the players, especially the ones that not only held out hope, but every single player who had any cash on their site. The damage to the industry is irreparable, but I'm hoping if nothing else, the industry learns from this fiasco and becomes more proactive in assuring their players that their money is secure.
Howard Lederer is now considered in the same scuzzbag class of low life vermin as Russ Hamilton is, and I doubt he will say or do anything except take the funds he wrestled out and live in obscurity for the rest his days.
You trusted them enough to deposit your money . . .