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

Written by:
C Costigan
Published on:
May/10/2011
Online Poker Player Refunds

With news on Tuesday that UB.com 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, Gambling911.com Publisher

Poker News

Is PokerStars Legal in the State of Idaho?

Is PokerStars Legal in the State of Idaho?

PokerStars is not accessible in the state of Idaho, though it used to be.  The site now adheres to state interpretation that poker sites are not legally permitted to operate in Idaho.

Red Dead Online Poker Review - Access Issues

If any company is going to make a run at competing with the big name real money online poker sites like PokerStars, Americas Cardroom or 888, it would be an established gaming site the likes of Rock Star Games.  They recently incorporated poker into their Red Dead Online title, but - SURPRISE - most people can't play for real money.

Poker's Royal Wedding

Poker's Royal Wedding

Daniel Negreanu tied the knot with long time girlfriend Amanda Leatherman and the poker community celebrated along side them.

Daniel Negreanu Amanda Leatherman Marry

Daniel Negreanu Amanda Leatherman Marry

If there is such a thing as a poker royal wedding, this would be it.  Daniel Negrean and long time girlfriend Amanda Leatherman have tied the knot.

Evil Poker Players 2: Shawn Sheikhan, Poker Pervert

Evil Poker Players 2: Shawn Sheikhan, Poker Pervert

(Originally Published 9/15/15) With the death of Thomas "Amarillo Slim" Preston Jr.

Syndicate