iGaming Truth, Lies & What Really Happened
Full Tilt Reimbursement Deal Near
Have some pity on Full Tilt Poker’s American players because they have really been put through the wringer over the past couple of years. The estimated 1.4 million US players had hundreds of million dollars tied up in the site when Black Friday indictments exposed FTP’s dirty little secret.
With so many hands grabbing such huge wads of cash out of the Full Tilt till, it seemed like all that cash was gone for good. Still, online poker forums and bubbled with optimism that players would one day be reunited with their money.
Truth: After months of negotiations and wrangling, the Rational Group was able to both purchase Full Tilt and settle up their accounts with the US Justice Department for a mere $700 million. That deal bought them the Full Tilt domains and set up a massive settlement fund for the long-suffering American players.
The funny thing about that settlement fund is that only a fraction of them actually bothered to apply for remittance. That’s partly due to apathy and partly due to the huge amount of red tape they had to wade through for the privilege of getting their own money back. And, in case you’re wondering, any unclaimed FTP cash will be funneled back into government coffers.