US Payments From Full Tilt Begin FridayWednesday, February 26th, 2014 by Ryan
It’s that time ladies and gentleman. If you are a poker player from the United States who played at Full Tilt Poker and put your claim in to get your money off of the site, then you should start to get even more excited. The announcement came from the Garden City Group (GCG), which is serving as the Claims Administrator for the United States’ Full Tilt Poker funds, that the money was going to begin getting paid out this week to players.
It’s huge news for players who are from the United States, and news that we’ve all anxiously been waiting for over the past few months now. There was a post that was put up on the website, fulltiltpokerclaims.com which started with a title of “NOTICE REGARDING APPROVED PETITIONS AND BANK ACCOUNT INFORMATION.” The news that was included in the post stated that any Full Tilt Poker players from the United States that had filed their claims for reimbursement, and had the petitions approved, as well as their bank account information verified will be receiving an email today (the 24th was when this was posted), or on the 25th.
The email that they would receive would also include the amount of money that they were going to get paid from Full Tilt Poker, so that they knew what the expect. As far as the payments themselves go, we’ll see things kickoff on Friday, February 28th. The notice that was posted on the site also included information for those who had their petitions approved, but wouldn’t get paid out on the first go-round. The people who submitted bank info that was incorrect or incomplete were included in this, as this would make it impossible for the GCG to complete the electronic funds transfer into your account. These players are going to get an email which gave information on how they can update their bank account info so they can get paid.
If you do not update your banking information by March 13th, then you are going to get a check in the mail, but if you update your bank info by that same date then you would get paid in the second round of electronic payments that are sent out. We aren’t sure when the second round of payments will get sent out, but if they continue to do it on Fridays then there is a good chance that we could see them pay out starting on Friday, March 14th. Big news for the players, and it’s going to be even more exciting after things are handled and the players who play in Nevada and New Jersey are ready to fully get back in the action.
Online poker in the United States is continuing to grow, and it should just get larger and larger after all of this. The GCG has made another big announcement a few weeks back also relating to rakeback, as the Department of Justice has said that they are not going to consider rakeback an affiliate payment. The decision on this came after multiple affiliates were trying to get their reimbursement figures reduced due to the rakeback.
Affiliates may still receive repayment, but it will not be from rakeback, and instead will only be from actual poker play itself. That’s a whole lot of fun that the sides are working on figuring out, but fortunately things are getting handled, and poker is still moving along as planned in the US. It’ll be interesting to see how the payment of the money that was owed to players in the United States from their Full Tilt accounts is going to affect things.
Many players had a whole lot of money tied up online, and actually cut back their online poker play (if they still play at all) due to not having this money, and not wanting to risk more when they didn’t know how the situation with their other money would end up going. Now though, with the money being freed up and players getting paid, the potential for these players to play in live tournaments or even in online games if they are located in some states is absolutely there.
The tournament series that could have the biggest impact due to the repayments is going to be the World Series of Poker, as players still have a few months to get things situation for the biggest tournament series in the world, and also get their money in their accounts and work on their game as well.