Online Poker Indictments: Hopefully History Repeats Itself

Written by:
Published on:

The question people are asking this Monday:  Will I get my money back from PokerStars, Full Tilt Poker, following Friday's indictments? 

It was early 2007 when first broke the news that the two founders of online payment transfer company, NETeller, had been arrested on US soil.  At the time, NETeller was the biggest facilitator of payments for online gambling websites. 

Over a 24 hour period, some G911 readers reacted swiftly by withdrawing funds.  It would take another 24 hours before the major mainstream news outlets confirmed the story.

Ultimately, NETeller was shut off to US customers by the Justice Department.  Some lucky readers managed to get their funds out within that 24 hour window.  Others had to wait...and wait....and wait.

But for those countless number of poker players affected by this past Friday’s closure of PokerStars, Full Tilt and, past history suggests there is reason to be optimistic.

Following the NETeller arrests and subsequent settlement agreement, customers were ultimately paid within a period of nine months.  Those were trying times, but the US Justice Department did ensure everyone got paid.

On a sour note, BetOnSports (indicted in 2006) customers were not so lucky.  BOS company funds, however, were not seized as they were this past Friday.

We will still have to wait and see how this situation transpires. 

- Staff


Follow breaking headlines around the clock at Twitter Here

Gambling News