A few lucky players of Full Tilt Poker – that was shut down four years ago by US Department of Justice – will finally receive their funds which were locked up. The Full Tilt Poker site was shut down by Department of Justice along with Absolute Poker and PokerStars. Among all three sites, only PokerStars had the required amount of assets to pay the US authorities and resume operations. All these websites were shut down in 2011 and after discussions with the US authorities, PokerStars agreed to compensate non-American players of Full Tilt Poker while the US Government would be compensating American players. The Full Tilt Poker license was suspended by the Alderney Gambling Control Commission during 2011 and was later revoked.
Details of compensation
The claims of players from the United States will be processed by the Garden City Group, and it has declared that only players who have assets less than $500 locked with the website will be compensated in the first round. In 2013 all players were allowed to log in to the site www.fultiltpokerclaims.com and check their balance before filing a petition for compensation. Authorities have unblocked around $2.8 million which will be disbursed to 3500 players that have submitted their claims. Though there are several other players that have invested in deposits they have to wait for another round.
Future of PokerStars and Full Tilt Poker
After settlement with government authorities PokerStars took over the operations of Full Tilt Poker during 2012. Though the firm was not operating within United States it was operating successfully around Europe. In 2014 it was bought over by Amaya Gaming for an enormous sum of $4.9 billion and now both PokerStars and Full Tilt Poker brands belong to Amaya Gaming. The company is expecting to enter into online poker market of United States in the near future with fresh licenses as now online gaming has become legal and is growing in popularity across the nation.