Online Poker Player Refunds Likely to be $100 Million to $500 Million

Written by:
C Costigan
Published on:
Online Poker Player Refunds

With news on Tuesday that had come to an agreement with the US Attorney’s Office in the Southern District of New York to refund players after an April 15 indictment sealed monies at three of the largest online poker rooms, experts began analyzing just how much of players money was actually locked up.

PokerStars, the largest of the three rooms indicted, had already begun paying players two weeks ago.  Full Tilt Poker is still reviewing its options. 

John Pappas, the head of the Poker Players Alliance, estimates that some $100 million to $500 million could be involved.

"It's difficult to estimate. There are people like myself who had $56 on account," Pappas told USA Today on Tuesday. "But there's also … an estimated 100,000 professional players who have tens of thousands of dollars … (a) select few may have even a couple million dollars on account.

"It would be easy to say that tens of millions, if not hundreds of millions of dollars, have kind of been held up in limbo here because of the DOJ (Department of Justice) action. It's impossible to put an exact number on it. I would estimate at least $100 million if not as much as $500 million."

- Christopher Costigan, Publisher