Black Friday and the aftermath: Online Poker Implications

[AndrewT]

Tilt is down completely - updates in the Black Friday thread.

http://blondepoker.com/forum/index.php?topic=52905.msg1392688#msg1392688

[boldie]

GG tax dodging bastards.

Will be interesting to see how many players get their money back and how soon this will be.

Edit; Surely this shows how vulnerable the money people keep with sites like Full Tilt is? How many people will stay with FT if they switch their other servers on?

[Schnech]

Yep down.

If anyone has updates on how to get our money back, then share it with us!

Greets

[Bongo]

Interesting, you'd think they'd just carry on though... Do you think they've had some connectivity tied to their licensing removed? Or do you think they thought that this would just see a run on funds and the end so they've taken what's left of the funds to a sunny country with no extradition treaties?

They would have servers based in Alderney (well Guernsey) that would have to be shut down I presume. But i would expect they have servers (and likely another licence) in Kahnwake (where they were licenced before Aldnerney) they could use instead.

I guess the other option is they shut the servers down themselves to prevent a run until the situation develops a bit further. It does seem rather odd that it's taken them this long to find a breach though - especially given the rumours flying round (e.g. e-check deposits)

[AndrewT]

They don't have to 'prevent a run' - they're not like a bank where people can instantly take actual money out.

Switching off the servers was not their decision - it was ordered by Alderney.

http://www.gamblingcontrol.org/userfiles/file/Website%20Statement%20-%20FTP%20suspension%20290611.pdf

[Dubai]

Buying tilt $ at 0.2/$ non us accounts only

[AndrewT]

From that doc I just linked to:

The Alderney Gambling Control Commission will hear the matters contained in the Hearing Notices at a Regulatory Hearing which will commence at 10.00am on Tuesday 26th July, 2011 at the Victoria Park Plaza Hotel, 239 Vauxhall Bridge Road, London SW1V 1EQ. In the event that there is a change to these details this notice will be amended.

So looks like nothing will change until at least 26th July - Tilt will be down until then.

[AlunB]

They don't have to 'prevent a run' - they're not like a bank where people can instantly take actual money out.

Switching off the servers was not their decision - it was ordered by Alderney.

http://www.gamblingcontrol.org/userfiles/file/Website%20Statement%20-%20FTP%20suspension%20290611.pdf

Yes but they will have servers elsewhere. Surely? Wouldn't any online business that depends on being 'always on'? Whether they want to take the business decision to run from a different location while having a licence suspended is another thing...

[AlunB]

LOL at the location of the hearing.

[TightEnd]

Are they licensed (with servers) in other jurisdictions apart from Alderney?

gg FTP WSOP Main packages (or the winners of those)? 

[TRIP5]

Alderney Statement -

licensees must from today cease to:-
 Register new customers;
 Accept deposits from existing customers;
 Allow existing customers to withdraw funds that are held in their accounts; and
 Permit customers to participate in any form of poker game play or gambling transaction.

[Bongo]

What are the implications of them breaching the suspension? Other than them losing their license?

[AlunB]

Are they licensed (with servers) in other jurisdictions apart from Alderney?

gg FTP WSOP Main packages (or the winners of those)?  

They were previously licensed in Kahnawake, although are no longer listed on the Kahnwake site as a permit holder. They still have servers there though.

[AndrewT]

Are they licensed (with servers) in other jurisdictions apart from Alderney?

gg FTP WSOP Main packages (or the winners of those)? 

Nope.

[boldie]

Are they licensed (with servers) in other jurisdictions apart from Alderney?

gg FTP WSOP Main packages (or the winners of those)?  

They were previously licensed in Kahnawake, although are no longer listed on the Kahnwake site as a permit holder. They still have servers there though.

would you go and play with them again if they dusted off the servers in Kahnwake, or would you just log on and take your money out?