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Alderney Suspends Ftp License


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#21 FCP Bob

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Posted 29 June 2011 - 11:06 AM

View PostNvrquit, on Wednesday, June 29th, 2011, 3:01 PM, said:

does this mean anything for canadians playing on stars?
It should mean no change for a Canadian playing at Stars. I posted the Isle of Man Gaming Commission's statement about Poker Stars and that they are in full compliance with their licensing requirements.
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#22 FCP Bob

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Posted 29 June 2011 - 11:25 AM

Statement From Poker Starshttp://www.pokerstar...ars-083011.htmlNote: PokerStars issued this statement today regarding the suspension of Full Tilt Poker's license:"In light of today's news that Alderney Gambling Control Commission has suspended Full Tilt Poker's license, PokerStars wishes to assure our customers that their funds are completely safe and that our operations are completely unaffected. The Isle of Man Gaming Commission today re-affirmed that PokerStars' worldwide licensing is intact and that our operations are in full compliance with all of its requirements. PokerStars' online operations continue as normal and all funds in players' accounts are safe and available for withdrawal as usual with no delays.PokerStars also remains in full compliance with our licenses in other jurisdictions where we are regulated, including France, Italy and Estonia.As provided under our licensing, PokerStars has always maintained the integrity and security of our players' funds, by keeping all such funds in segregated bank accounts, always available for immediate withdrawal.Since the actions of US Department of Justice in April, we have returned more than $120 million to US players and continue to act upon requests as they are received. Players outside the US have not been affected and all cash-outs have been processed without delays. Further, PokerStars entered into an agreement with the Department of Justice which expressly confirmed the company's ability to operate outside the US.We will continue to operate as a responsible corporate citizen and are committed to serving the needs of our customers in complete compliance with our regulatory requirements."
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#23 Doomcaller66

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Posted 29 June 2011 - 11:46 AM

Damn it. I withdrew my roll from FTP after black friday but I ran up a new one from full tilt points. Only $100 or so, but still.

#24 Mercury69

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Posted 29 June 2011 - 12:02 PM

Nobody panic. Estonia is still in the mix.
"We had all the momentum. We were riding the crest of a high and beautiful wave. So now, less than five years later, you can go up on a steep hill in Las Vegas and look west, and with the right kind of eyes you can almost see the high-water mark, that place where the wave finally broke and rolled back." —Raoul Duke, Fear And Loathing In Las Vegas

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#25 dna4ever

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Posted 29 June 2011 - 12:06 PM

pokerstars has some pretty good PR writers, js

#26 FCP Bob

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Posted 29 June 2011 - 12:41 PM

Forbes Article Including Quotes From Gaming Commission
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#27 flintsword

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Posted 29 June 2011 - 02:18 PM

I don't believe that Full Tilt could withstand the inevitable run on deposits that is sure to occur if they "open without a licence" as a 2+2 poster speculated.Much more likely is that the European operations of Full Tilt along with all trademarks will undoubtedly be sold to another site very quickly and the "new" Full Tilt will stay away from the U.S. probably for good. In time the Full Tilt name will vanish into the acquirer's current brand. They are basically buying traffic.Only PartyPoker and PokerStars have the reputation to stop a run on the bank by reopening Full Tilt.A sale of European operations will probably be an asset sale, so liabilities (such as U.S. deposits) are not on the table. Since the DOJ has made it clear that any buyer of Full Tilt is not welcome in the U.S., there is zero incentive for the new buyers of the Full Tilt assets to pay one dime to U.S. customers ... after all "THEY" did not screw the U.S. customers ... the former owners did.Look for a very quick sale of Full Tilt. One can only hope that it is Zygna that buys them because in that case there is a faint hope of money for U.S. players in time. I know it sounds a little cracked but Zygna has the cash and since it has been squeaky clean with respect to the DOJ, they can wait for the U.S. regulators to start issuing licences.The DOJ may well go down in history as killing the poker boom because all of this negative press impacts the entire industry, not just Full Tilt.So all of the other sites have better put away the Champagne because the black eye is looking collective at this point. Considering the other online poker sites in the indictment pipeline at the DOJ (you didn't really think this was it, did you?) this constant stream of bad news about poker is really bad long term IMHO.One thing that bears saying ... the rise and crash of Full Tilt would make one hell of a movie.
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#28 flintsword

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Posted 29 June 2011 - 02:37 PM

Thought this might bring a little perspective on the Full Tilt situation.Remember "Bugsysclub", the online poker site? :club: PokerStars "bought" them and integrated their traffic into their site. Here is the farewell letter I got from Bugsysclub in March 2009. I think it is likely all Full Tilt players will be getting this sort of letter in the near future ...Dear Bugsy Club Player,Firstly, we would like to take this opportunity to thank you for yourcontinued support of the Bugsy's Club Poker Room. Since Bugsy's Club wasformed, our mission statement has always been that we will offer you 'TheBest Poker Games in Town' and that 'We will take care of you personally'.We are proud to say that these are goals we feel we have consistentlyexceeded, providing you with a great place to enjoy poker.Unfortunately, due to circumstances beyond our control with regards tobanking facilities, it is with regret that we have to announce it is nolonger viable for the Bugsy's Club Poker Room to continue our businessoperations. However, we are delighted to inform you that Bugsy's Club havereached an agreement with the world's largest online poker site,PokerStars.com, to allow all Bugsy's Club players with real money balancesto transfer their account balance over to the PokerStars site and for thosethat do not have a balance to establish an account and be eligible for anexciting promotion on PokerStars. In the next couple of days, you will becontacted by PokerStars with an exciting offer addressed at you, our playmoney Bugsy's Club players.Once again, we would like to thank you for supporting the Bugsy's ClubPoker Room, but we are confident that PokerStars will provide you with anexceptional level of service so you can continue to enjoy playing poker.PokerStars are a highly reputable poker site that is fully equipped to meetthe original mission statement set out by Bugsy's Club Poker Room. They aretrustworthy, quick to handle cashouts and offer an outstanding level ofcustomer support. In short, they fully deserve their reputation as the bestonline poker site around. We are delighted to have been able to make thesearrangements with them as we know we are leaving you in the best possiblehands.The management and staff of BugsysClub------------------------------------------------------Sounds sort of familiar :ts
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#29 colonel Feathers

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Posted 29 June 2011 - 02:40 PM

The irony of all this is that the doj may have been justified closing down FTP.Since funds were obviously not segregated, eventually they woulda collapsed anyway under the weight of insufficent funds and many more woulda got screwed.Its time for strict regulation on all aspects of online play.
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#30 flintsword

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Posted 29 June 2011 - 04:31 PM

View Postcolonel Feathers, on Wednesday, June 29th, 2011, 3:40 PM, said:

The irony of all this is that the doj may have been justified closing down FTP.Since funds were obviously not segregated, eventually they woulda collapsed anyway under the weight of insufficent funds and many more woulda got screwed.Its time for strict regulation on all aspects of online play.
Bad management seems to be the culprit. A really serious question is:"What about all the poker players that won WSOP packages for the Main Event through Full Tilt Poker?" :club: There are going to be a lot of really, really, really upset players in Las Vegas right now if it turns out they traveled on their own dime after winning a FTP Main Event entry only to find out that they are not entered :ts .
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#31 FCP Bob

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Posted 29 June 2011 - 05:24 PM

http://www.subjectpo...tilt-looks-kgc/It looks like Tilt might be getting the stamp of approval from that bastion of integrity the Kahnawake Gaming Commission who of course were the "Gaming Commission" who licensed AP/UB.This makes perfect sense since if they're going to survive they need to get back operating and need some sort of gaming regulator for public consumption even if that regulation actually is meaningless.
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#32 s_pkrstr_s

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Posted 29 June 2011 - 09:58 PM

Anyone think my check will cash that I just got in the mail?

#33 FCP Bob

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Posted 29 June 2011 - 10:14 PM

View Posts_pkrstr_s, on Thursday, June 30th, 2011, 1:58 AM, said:

Anyone think my check will cash that I just got in the mail?
I assume that it's in Canadian dollars from a Canadian bank.If it is deposit it in your bank but don't touch the money even if your bank doesn't put a hold on it. Just because they aren't holding anything doesn't mean it's cleared. If it hasn't been returned after 2 weeks then there won't be a problem. If it hasn't been returned after 1 week chances are very very good that there isn't a problem.
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#34 s_pkrstr_s

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Posted 29 June 2011 - 10:33 PM

View PostFCP Bob, on Thursday, June 30th, 2011, 2:14 AM, said:

I assume that it's in Canadian dollars from a Canadian bank.If it is deposit it in your bank but don't touch the money even if your bank doesn't put a hold on it. Just because they aren't holding anything doesn't mean it's cleared. If it hasn't been returned after 2 weeks then there won't be a problem. If it hasn't been returned after 1 week chances are very very good that there isn't a problem.
Thanks, appreciate the response.

#35 CoolHandKai

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Posted 29 June 2011 - 10:56 PM

View PostFCP Bob, on Wednesday, June 29th, 2011, 7:06 PM, said:

It should mean no change for a Canadian playing at Stars. I posted the Isle of Man Gaming Commission's statement about Poker Stars and that they are in full compliance with their licensing requirements.
Be that as it may, I've just withdrawn 80% of my money from stars.

#36 mrdannyg

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Posted 30 June 2011 - 04:06 AM

View PostFCP Bob, on Thursday, June 30th, 2011, 3:14 AM, said:

I assume that it's in Canadian dollars from a Canadian bank.If it is deposit it in your bank but don't touch the money even if your bank doesn't put a hold on it. Just because they aren't holding anything doesn't mean it's cleared. If it hasn't been returned after 2 weeks then there won't be a problem. If it hasn't been returned after 1 week chances are very very good that there isn't a problem.
Alternately, get the cheque certified. It'll cost you $10-15, but allow you to confidently access the money immediately.
Long signatures are really annoying.

#37 wsox8

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Posted 30 June 2011 - 04:42 AM

View Postmrdannyg, on Thursday, June 30th, 2011, 7:06 AM, said:

Alternately, get the cheque certified. It'll cost you $10-15, but allow you to confidently access the money immediately.
You're paying too much.

#38 mrdannyg

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Posted 30 June 2011 - 06:09 AM

View Postwsox8, on Thursday, June 30th, 2011, 9:42 AM, said:

You're paying too much.
Hmm, I checked the websites for two of the banks I don't work for, and the fee is $15-20, if presented by the payee. Though some of the more expensive bank accounts include a couple freebies per year.I have never had a cheque certified before, but if I had a 4-5 figure cheque from FTP in my hands, I would strongly consider it...
Long signatures are really annoying.

#39 outsider13

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Posted 30 June 2011 - 11:52 AM

View Posts_pkrstr_s, on Thursday, June 30th, 2011, 12:58 AM, said:

Anyone think my check will cash that I just got in the mail?
Quick question, when did you request this? Just wondering because I have one in limbo at the moment.

#40 FCP Bob

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Posted 30 June 2011 - 05:50 PM

http://www.latimes.c...0,6054543.storyArticle in LA Times says that a majority of Full Tilt has been sold to European interests that will inject enough money into the company to pay off players and continue operations.
Bob

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