Looking More In-Depth at Full Tilt Poker RepaymentsTuesday, August 14th, 2012 by Ryan
The talks behind the potential repayment of players from Full Tilt Poker are in full affect after the news dropped that the United States Department of Justice had agreed to settle with PokerStars and sell the assets of Full Tilt to them. This means that PokerStars is not only about to grow even more, but is also going to be repaying players from all across the globe, including in the United States as well. The question right now though is when and how players are going to get repaid from the United States, and we’ve looked into it a bit after hearing that one of the Full Tilt Poker attorneys spoke to Forbes.
The first of many questions is what about the taxes that could potentially go along with it? Players ranging anywhere from having thousands to millions of dollars left online are wondering what their plan of action should be. The reason for this is because some have considered filing a remission to reclaim their funds, because of the potential issue of tax evasion charges and full audits coming down on players. This is something that is yet to be updated currently, but it’s definitely in the back of players’ minds.
Then is the question of whether players will get their account balances at the time that Full Tilt Poker was closed, or their deposit amounts. The part that’s strange here, is that no one really mentioned paying back players for their deposit amounts, but some players had been chatting about that quietly. The plan now it seems is to pay players back based on their account balances when Full Tilt closed down, and we’d be surprised to see things go any other way.
There is one other key things that need to be accounted for, one of which is whether or not players are going to be paid back for their bonuses and such as well. According to the attorney from Full Tilt Poker, the $150 million that is quoted to be owed to United States players does include both bonuses that players earned, as well as Full Tilt Point’s (FTP’s) as well. This is good news for players because that is a good chunk of change for some of the high roller players out there.
Unfortunately it seems as if there is not a specific time frame put on the table just yet for when players should be expecting to receive their money back from Full Tilt Poker. Things are still in the beginning stages of the deal, and this means that players could be left with some unanswered questions for a few more months at least. As time rolls on, you can bet that more and more information will be released from PokerStars and the Department of Justice about the situation, and we’ll also get a good bit of information about when players will be paid out as well. We’ll keep you updated on anything that we find out about the repayment of players not only in the United States, but worldwide as well.