Alderney suspends Full Tilt's operating license

[F4STFORW4RD]

I can't believe you guys are going to consider Full Tilt after this debacle. I am hoping they get their license too, so I can get my money out and put it somewhere that takes the business seriously.

I'll be back there like a shot. As far as I'm concerned, their problems are mainly down to the US government meddling in things that don't really concern them - again

Anyway, do you think they will be able to let people get their money out of there just by the moment they reopen?

If they insist on everybody providing identification they will have an awfully large amount of admin on their hands - don't they have to ask for that under the money laundering regulations? Obviously the last thing that they want is to be accused of money laundering!

 

[absoluthamm]

don't they have to ask for that under the money laundering regulations? Obviously the last thing that they want is to be accused of money laundering!

I've never had to do that for withdrawing from a site, I have heard of it, but I've never had to on Tilt, Stars, bodog or UB...

 

[WVHillbilly]

I've never had to do that for withdrawing from a site, I have heard of it, but I've never had to on Tilt, Stars, Bodog or UB...

I had to send my DL in the 1st time I withdrew from Bodog and Tilt. All subsequent withdrawals didn't require it.

 

[2-7MakesMeRaise]

Bet pokerstars are loving this. Thing is though if FT can be shut down, I hope no more sites are to follow. Luckily I have no BR at FT but to the people that have I hope you get your funds back !

 

[absoluthamm]

I had to send my DL in the 1st time I withdrew from Bodog and Tilt. All subsequent withdrawals didn't require it.

Hmm... yea I never had to. I've only withdrawn from each of those once, and Bodog was ~$800 and Tilt was ~$1200 and I never sent anything in. Maybe it had to be over a certain amount?

Really, the site I feel like I hear about having to send ID verification the most is on the Merge Network, but I haven't withdrawn at all yet.

 

[WVHillbilly]

Nah doubt it was the amount because my 1st Bodog withdrawal was def. less and I'm pretty sure my Tilt one was too (might have been $1500 but no more than that). Could have been deposit method or something random I suppose.

 

[absoluthamm]

Lol, who knows. Neither site have I ever deposited on, so I am lost. Oh well though. Might be a while before I can withdraw anything again...

 

[swingro]

Maybe they make it in time for the Sutaday CC Freeroll.

 

[cardriverx]

I had to send my DL in the 1st time I withdrew from Bodog and Tilt. All subsequent withdrawals didn't require it.

I never did on PS or FullTilt while I had money on it. Before black friday, PS required that you send the verification, but after BF, I got my money (less than $100), without sending verification.

I think you couldve withdrawn without verification up to like $2000 on PS after BF.

So probably there will be like a max where one won't have to send verification, like it was on PS.

So no I don't think it's a rule that they have to ask for verification.

 

[Tammy]

I'll be back there like a shot. As far as I'm concerned, their problems are mainly down to the US government meddling in things that don't really concern them - again

I'm not sure how you can see it this way. If anything, the whole thing with the DOJ uncovered their subpar business practices. Sure you could argue that if BF never happened, we'd be none the wiser; but eventually the house of cards would have fallen down without the DOJ, imo.

 

[F4STFORW4RD]

I'm not sure how you can see it this way. If anything, the whole thing with the DOJ uncovered their subpar business practices. Sure you could argue that if BF never happened, we'd be none the wiser; but eventually the house of cards would have fallen down without the DOJ, imo.

Eventually the house of cards might have fallen down, yes. The thing is that the terms of their license didn't need them to keep user funds segregated and the PS license terms DID, so whereas everybody is trying to make out that FT are villains and PS are saints, I see it more as FT being somewhat incompetent. Hopefully once US players have their money back they won't feel quite so negative about them.

 

[NineLions]

No one following this thread?

http://forumserver.twoplustwo.com/28/internet-poker/ftp-insider-dedicated-thread-1063112/

 

[F4STFORW4RD]

http://www.egrmagazine.com/news/1677627/full-tilt-deal-could-be-sealed-next-week.thtml

So much for FT being back up by the weekend, then

 

[Roller]

Ugggggggggggggggggggggggggg

Full Tilt

$$$

 

[Amroth]

http://www.egrmagazine.com/news/1677627/full-tilt-deal-could-be-sealed-next-week.thtml

So much for FT being back up by the weekend, then

Well, anyway good news incoming

 

[Poker Orifice]

I'm not sure how you can see it this way. If anything, the whole thing with the DOJ uncovered their subpar business practices. Sure you could argue that if BF never happened, we'd be none the wiser; but eventually the house of cards would have fallen down without the DOJ, imo.

I disagree. Sure they mis-managed funds & yah they supposedly had ~$60mil of US deposits that never actually got processed but I think with the amount of money there were making they wouldn't have fallen if BF hadn't occurred.

So much for WickedChops info. bein' accurate.... sigh
Does sound like a deal is in the works though... now hearing an estimate of 2wks. til' they could be up & running again. When it is, I'll be playing on there in a heartbeat (I still occassionally try to login to FTP with my morning coffee). I hate the other sites.

 

[KerouacsDog]

No one following this thread?

http://forumserver.twoplustwo.com/28/internet-poker/ftp-insider-dedicated-thread-1063112/

thanks nL, interesting read.

When it is, I'll be playing on there in a heartbeat (I still occassionally try to login to FTP with my morning coffee). I hate the other sites.

I too log-in every morning just in the hope we can get back in. As for playing there again, I would, but first I'd take out the majority of my BR there, just in case sh*t hits the fan again. The software at Ft is so far ahead of any other site, PS included.

 

[OzExorcist]

I disagree. Sure they mis-managed funds & yah they supposedly had ~$60mil of US deposits that never actually got processed but I think with the amount of money there were making they wouldn't have fallen if BF hadn't occurred.

Nah, I agree with JQ on this point - even without Black Friday their mismanagement would have caught up with them eventually. You just can't make that many bad decisions and not have them come back to bite you.

 

[coolnout]

full tilt poker attorney Jeff Ifrah "The game plan is that within the next two weeks, this deal will close, and the number one feature of it is for players to get paid back. The investor is aware of that and everyone knows that’s the critical material term. Without that term, the deal won’t happen.”

Ifrah also told EGR that the group of European investors who have been linked to the Full Tilt Poker sale are making their first foray into the internet gaming space: “They are not one of our competitors and to my knowledge it’s their first step into the e-gaming sector.”

 

[ZODECI]

Full Tilt Poker attorney Jeff Ifrah "The game plan is that within the next two weeks, this deal will close, and the number one feature of it is for players to get paid back. The investor is aware of that and everyone knows that’s the critical material term. Without that term, the deal won’t happen.”

Ifrah also told EGR that the group of European investors who have been linked to the Full Tilt Poker sale are making their first foray into the internet gaming space: “They are not one of our competitors and to my knowledge it’s their first step into the e-gaming sector.”

And they're going to lose $.

 

[Pothole]

thread derail, but the above is nonsense. What would happen is that the dollar would plunge versus the yuan, Chinese investors would take a huge loss on their US investments, Chinese exports would become a lot less competitive and US exports a lot more, ... essentially i would be an extremely good thing for the US and an extremely bad thing for China.

Never intended a thread derail, though it might just be in your mind. My advice to you would be to stick to poker. Nothing personal, but the instant effect of a Chinese withdraw from US investments would be total worldwide lack of confidence in the USD. Oil would be at least $250 a drum ( monster recession worldwide ), and gold stock would go through the roof. I seem to remember a US no name who sold less than 10m of UKP and collapsed the UK economy and extrated the UK Gov into offering 9% interest rates in an attempt to prop up the UKP. If your looking for a good investment, buy some Greek Gov bonds, currently 2 yr ones are giving 15% pa. Yup, 30% over 2 yrs, do you really think the EU is gonna let them sink?

 

[serendipity]

Invest in Greek bonds, or buy a disgraced poker site. Hmmm, where shall I put my hard earned cash.

 

[Stu_Ungar]

Never intended a thread derail, though it might just be in your mind. My advice to you would be to stick to poker. Nothing personal, but the instant effect of a Chinese withdraw from US investments would be total worldwide lack of confidence in the USD. Oil would be at least $250 a drum ( monster recession worldwide ), and gold stock would go through the roof. I seem to remember a US no name who sold less than 10m of UKP and collapsed the UK economy and extrated the UK Gov into offering 9% interest rates in an attempt to prop up the UKP. If your looking for a good investment, buy some Greek Gov bonds, currently 2 yr ones are giving 15% pa. Yup, 30% over 2 yrs, do you really think the EU is gonna let them sink?

How would they just "pull out"? They would have to find buyers for their US assets so there wouldnt be any collapse, rather a shift in ownership.

If your talking about the flow of "Hot Money" then again why would they pull out? Hot money has no loyalty, it flows wherever investors can get a decent return for an acceptable level of risk. The only reason it flows into the US is because of the level of return given and the risk involved. So the fact that its there means there wouldnt be a sudden withdrawal, its not there by accident and would never be pulled out on a whim.

 

[ZODECI]

I think Full Tilt's problem is pretty simple: you had a bunch of poker players trying to be businesmen. And they failed miserably. However, they were great marketers and I'm sure a lot of the funds vanished in marketing dollars. With all the money they had,they should have hired a world-class CFO to keep the books in check.

 

[Stu_Ungar]

I think Full Tilt's problem is pretty simple: you had a bunch of poker players trying to be businesmen. And they failed miserably. However, they were great marketers and I'm sure a lot of the funds vanished in marketing dollars. With all the money they had,they should have hired a world-class CFO to keep the books in check.

Thats basically it.