One Quarter of FTP's seized accounts unfrozen

http://www.egrmagazine.com/news/1667...daily-snapshot

Good News!

Any news is good news.

Thanks for the link
It doesn't make a lot of sense to me why FTP still hasn't paid off the US players.
Poker Stars was hit with the same DOJ actions and I've already gotten my PS bankroll back.

Did you actually read the linked article. They basically don't have the money. They let players play on deposits that were never collected which created a 60 million dollar shortfall. They were not required to keep player funds separated from operating funds so they didn't.

Full Tilt acted nearly as poorly as UB, yet for some reason people keep defending them. I'm not sure I understand why that is but I"m sure glad I chose to play on Stars.

GL

True about the shady dealings, but 60 M is peanuts to Tilt, I'm sure they have it somewhere... I agree Stars has always been more straightforward...

I got a tweet from Tony G. (I'm just a follower by the way.)

Huge news on the FTP bank account in Ireland today. I rate 99.5% for USA players to be paid out. Some news must be coming very soon.

This tweet came out about the same time this thread was written. that's all I could find for now. Maybe I'll get my $300 back. I could use it. Later.

good news and good luck to you US guys, soon you'll get your money back

Pretty much just explains what we already knew about FTP's problems. If the DOJ didn't seize the funds and payment processors, most of this crap wouldn't have occurred.

The players who had fully funded accounts and didn't play with money FTP didn't get, should be paid back NOW!!!

From everything I've read it seems Stars were faced with pretty much the same problems. The difference was that Stars had more free capital available to them - basically they had enough money spare to be able to pay everyone back out of their own pocket and wear the losses. That'll be because of a combination of things, mostly that they were bigger and therefore making more money to start with and US players made up a smaller percentage of their overall business than was the case with Full Tilt.

It's my understanding that FT and PS treated player deposits differently. PS is required as part of it's Isle of Man business permit to keep player funds in a segregated account separate from operating funds. FT wasn't required to do so, so they didn't. Instead they very likely invested it in things like bonds to generate revenue from money that essentially is just lying around otherwise. Believe me when I say that is PS weren't required to do otherwise by law, they would have done the exact same thing as FT.

People will get their money back from FT, it's probs just locked up somewhere at the moment, there are penalties for early withdrawals from most investments. That added to the fact that FT probably doesn't have several hundred million lying around means they'll have to wait a bit longer. PS fluked this one and they're now making up for all the money they've lost from keeping the money separate by earning good will and good publicity.

http://en.wikipedia.org/wiki/Bank_run

"Several techniques can help to prevent bank runs. They include temporary suspension of withdrawals"

I just wanna Play!
Bring poker back to the USA!

Thanks for the link. I think we have all learned our lessons to keep as little as possible in the remaining sites we play.