..

Online Poker Indictments: Hopefully History Repeats Itself

Written by:
Guest
Published on:
Apr/18/2011

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

It was early 2007 when Gambling911.com 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 UB.com, 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. 

- Gambling911.com Staff

 

Follow breaking headlines around the clock at Gambling911.com Twitter Here

Gambling News

Draftkings Loses $161M Amid Pandemic, LeoVegas Revenues Surge

Draftkings Loses $161M Amid Pandemic, LeoVegas Revenues Surge

Without sports, the bookmakers were bound to take quite a hit.  During the global pandemic, books had to resort to simulations, Belarus football and - by far the most popular of all sports - Russian table tennis.   None of this really helped it seems.

Trade Group Report: Gambling Economy Hit Hard by Coronavirus

Trade Group Report: Gambling Economy Hit Hard by Coronavirus

The coronavirus and efforts to fight it have hit U.S. casinos and legal gambling businesses hard, leading to a nearly 79% drop in commercial gambling revenue for the second quarter of 2020, the industry’s trade association reported Thursday.

Neptune Man Arrested in Mugging of Keyport Man Returning From Monmouth Park

Suspect Arrested in Mugging of Keyport Man Returning From Monmouth Park

Authorities have made an arrest over a year after a Keyport, New Jersey man was robbed returning home from winning a significant amount of money at Monmouth Park.

Top 5 COVID-19 Related Gambling Trends You Can Expect to Take Shape Revealed!

Top 5 COVID-19 Related Gambling Trends You Can Expect to Take Shape Revealed!

Across the globe, various businesses and sectors are struggling to adapt to the new norm of COVID-19. The gambling sector is not spared either, with activities being crippled in several ways. The operators of the agencies can testify the industry is hit hard. Does a question arise about what you can expect from the betting sector from agencies and punters themselves? Here are some of the top trends you can expect to see during post lockdown related to gambling activities.  

Two Charged in $4 Mil Casino Theft, Macau Reopens

Two Charged in $4 Mil Casino Theft, Macau Reopens

Two people have been charged in an alleged Livermore gambling scheme involving a theft of about $4 million, state prosecutors said Monday.

Syndicate