Full Tilt Gaming License suspended

http://www.egrmagazine.com/news/1673787/breaking-news-alderney-suspends-full-tiltsoperating-licence.thtml


The Alderney Gambling Control Commission (AGCC) has suspended Full Tilt’s licences, requiring the poker room to suspend all operations from the jurisdiction with immediate effect.

The AGCC said in a statement this morning: “The decision to suspend these licenses follows a special investigation prompted by the indictments unsealed by US Attorney General’s Office in the Southern District of New York on 15th April 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation."

FYI

Shit just got real.

bad news for all :|

This doesn't look good!

yup, full tilt client is unreachable,
goodbye bankroll

wtf.. So everyone that played on FT is fucked now?

omg.so what happens to the players' br? how high is the chance that it is completely lost?

holy shit

guys,
it is just suspended, it could be that FTP license will be un-suspended in a couple of days as well.
That being said, the run on the bank this time, will be nuts if they re-open.

Could a moderator please change the title to 'suspended' not revoked, sorry I had taken the title from another post that I found it on to get it up quickly, thanks,
Dave

yeah just scheduled maintence. nothing to see here guys

if i had a bank transfer cashout 3 days prior to this is it likely that it will arrive?

looked for a funny image of lederer - found this and pissed myself laughing:



mission accomplished

game over FTP. hope LP'ers get their money back.

On June 29 2011 06:02 fakeshaver wrote: yeah just scheduled maintence. nothing to see here guys

http://www.pokernews.com/news/2011/06/breaking-news-full-tilt-poker-license-suspended-by-agcc-10629.htm

In the early hours of Wednesday morning, the poker world learned that the Alderney Gambling Control Commission (AGCC) suspended the license of Full Tilt Poker and ordered the site to suspend all operations. According to preliminary reports, games on Full Tilt worldwide came to a sudden halt.
The AGCC released the following statement on the matter:
"Alderney Gambling Control Commission (AGCC) has today issued Hearing Notices under Regulation 46 of its Regulations to Vantage Ltd, Oxalic Ltd, Filco Ltd and Orinic Ltd, collectively trading as FULL TILT POKER.
In addition, AGCC has issued Suspension Notices under Regulation 47 to the above named companies requiring them to suspend all operations with immediate effect.
The decision to suspend these licenses follows a special investigation prompted by the indictments unsealed by US Attorney General’s Office in the Southern District of New York on 15th April 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation. The nature of the findings necessitated the taking of immediate action in the public interest.
The venue and date for the hearing will be announced in due course.
Issued by:
André Wilsenach (Executive Director)
Alderney Gambling Control Commission
Alderney,
Channel Islands
Date issued: 29th June 2011"
For those who may recall, the aforementioned investigation is same which the alluded to in an earlier statement by the AGCC. For more on the AGCC back story, be sure to revisit PokerNews' interview with Michael Ellen, director of licensing and strategy for the AGCC.
So far no word from Full Tilt, other that a banner on FullTiltPoker.com stating: “Scheduled Maintenance In Progress - The system is currently down for maintenance. Please check back soon!”
This is a breaking story and PokerNews will be sure to bring you all the developments as they happen.


Read more: http://www.pokernews.com/news/2011/06...r-license-suspended-by-agcc-10629.htm

Dave, I just posted news on this ;p

*Black Friday FBI, DOJ
*Ivey and other rakeback, corruption exposes
*Moneybookers not doing business anymore, accusing FTP of manually/arbitrarily selecting withdrawals
*Suspension of gambling license


pretty much gg imo. too many shitty signs to ignore

On June 29 2011 06:34 whamm! wrote: accusing FTP of manually/arbitrarily selecting withdrawals

what does it mean?

On June 29 2011 06:23 Defrag wrote: Dave, I just posted news on this ;p

He owned you by 26 minutes.

On June 29 2011 06:43 dogmeat wrote: Show nested quote + On June 29 2011 06:34 whamm! wrote: accusing FTP of manually/arbitrarily selecting withdrawals what does it mean?

It means that FTP decided that some countries/markets should be allowed to withdraw or not based on their own judgement rather than some actual strategic outlined plan, thus making it look as though moneybookers had an issue with inconsistent service rather than FTP purposely shutting off payment withdraws by their own decision.

On June 29 2011 06:56 PuertoRican wrote: Show nested quote + On June 29 2011 06:23 Defrag wrote: Dave, I just posted news on this ;p He owned you by 26 minutes.

Not in competition, just wanted to contribute. =)

makes sense

so what odds would you put on us seeing our money from full tilt heropoker-ceo?

On June 29 2011 08:09 fakeshaver wrote: so what odds would you put on us seeing our money from full tilt heropoker-ceo?

You want my full on direct honest opinion? It will be the same I shared with my own pros from day one.

I ask this because you really gotta be prepared for it, cause it's not a pretty answer. I'm not here to interfere or add fuel to the fire; it's not something I would have shared publicly on day one of this all.

On June 29 2011 08:14 HeroPoker-CEO wrote: Show nested quote + On June 29 2011 08:09 fakeshaver wrote: so what odds would you put on us seeing our money from full tilt heropoker-ceo? You want my full on direct honest opinion? It will be the same I shared with my own pros from day one. I ask this because you really gotta be prepared for it, cause it's not a pretty answer. I'm not here to interfere or add fuel to the fire; it's not something I would have shared publicly on day one of this all.

Yes, of course we want to hear it. And I think most ppl understand that it is pretty fucked up now

which is?

RUMOUR that just came out from QuadJacks:

- FTP will reopen in couple hours
- No alderney logos
- You'll need to accept a new T&C
- They'll operate without a license!

qj.com is saying they are reopening in a few hours without the license and a new terms of service.

lol @ operating w/o license

hope you guys get your money

On June 29 2011 08:40 johnmagi wrote: Show nested quote + On June 29 2011 08:14 HeroPoker-CEO wrote:   On June 29 2011 08:09 fakeshaver wrote: so what odds would you put on us seeing our money from full tilt heropoker-ceo? You want my full on direct honest opinion? It will be the same I shared with my own pros from day one. I ask this because you really gotta be prepared for it, cause it's not a pretty answer. I'm not here to interfere or add fuel to the fire; it's not something I would have shared publicly on day one of this all. Yes, of course we want to hear it. And I think most ppl understand that it is pretty fucked up now

It's more than fucked up now.
My opinion only and what I've advised to my own pros:
1.US players will eventually get their funds, but likely not from FTP but from DOJ distribution, in as much as DOJ actually holds in the bank accounts. If the company was solvent at the time, then I would have said, 100% of player funds returned for the USA, but why I say likely DOJ is because: from a corporate business perspective the FTP management is a wreak, there is no way any sane business professional would recommend to invest there...

New situation:
2.Foreign situation much worse because the license is suspended but related bank accounts are not, so these accounts are still in full control of FTP.

Two positive scenarios of this are:
a. Suspension is lifted in a short period, day or week later, business will take at least a 50% hit. I won't say that every player will withdraw. Simply because players are trusting and hopeful that this will be the end of it.
b. Suspension is not lifted, FTP switches provider, business takes at least a 75% hit. 25% continue for same reason above.
Unsustainable scenario and pretty bad:
c. FTP goes off on its own because it cannot find a licensee, business takes at least a 85% hit. Because payment solutions will rescind their agreements.


Implications are those situation are two fold:
a. No new investment or sufficient investment thus business becomes insolvent due to reduced cash flow or.
b. Business continues as is, but its a ticking time bomb as the liability of the DOJ settlement/fine looms

Bottom line:
US players may get some of their money back, but to get all of it back, FTP must remain solvent, but even if goes under DOJ still has FTP accounts.
Foreign players are completely fucked if FTP goes under as even if the suspension is lifted, unless the gaming commission had access to those funds, there is zero leverage to get funds to the players. Also the DOJ indictment fine/settlement will still remain and any liquidity of assets will likely be directed there first as the FTP CEO is American and then funds would likely go to major suppliers/vendors and then if there are any funds remaining, a trustee would have to be appointed, but considering the cash flow situation, it is highly unlikely that there will be much left to distribute at that point, especially if the business drags on like UB/AB while they continue to burn overhead.

If my pros, which a couple of them still do, have money on FTP, I recommend, that even if FTP goes unlicensed or whatever, to take the funds off if they are non US players. It's an obvious point now and yes there will be a run on the bank, but at this point, from my perspective, FTP was going down anyway, if you can just get anything off then do it. I would have called a miracle river card for FTP, but at this point, whether it happens in 1 month or 1 year, these guys are drawing dead. Their brand can't survive this blow plus the outstanding DOJ settlement/fine. It's just too much damage for any company to take, it's the equivalent of Pepsi of being banned in the US for possibly putting nicotine in the drink and then its international distribution gets halted and then Pepsi possibly needs to go to Africa to restart bottling/distribution. That being said, people will still play on FTP after this is all over, but regardless, now its the foreign players who are most at risk now.

Now people can argue with me, but from a business perspective, no one can say to me that FTP will be alright until after the DOJ settlement and that will be the first real moment to see if FTP will actually survive in some form or another. Its like saying, FTP is ok, fine, they can handle things, when there is a nuclear missile on route.

The criteria for survival are:
1. license (new one or unsuspended) (less than 1 month)
2. amount of DOJ fine/settlement and how long (less than 1 year)

If they can't get 1 resolved in less than 1 month and then can't get the DOJ resolved with a reasonable fine, 150M or less and within 1 year.
Its pretty much over from my business perspective. If they can fulfill the above criteria, they will survive a bit longer, but you may hear rumours that FTP didn't accept investment for 200M or so, because that would barely cover the DOJ settlement alone. But foreign players are really screwed because no one holds those bank accounts except for FTP and if their previous accounting is any indication who knows how much is the difference between the virtual and liquid balances?

Sorry. Sincerely.
*please respect my contribution to LP and do not repost or link this anywhere else. Thanks, David.

Thanks for your contribution David. Everything you said looks about right to me aside from the confidence that the DOJ will pay back US players. I think that might come from just the distrust I have in the US government. I think there is a good chance they will find a legal way to keep the money. I mean FTP is gonna go under and owe the DOJ the 4 billion or w/e they were fined so DOJ will probably keep everything in the seized accounts.

If by some miracle the DOJ decides to pay out to players from the frozen funds it'll probably be 3+ years at least before people start to see any money.

I'd say at this point 90% chance no FTP players see any money.

I don't understand how could this happend to the 2nd biggest site... is PS safe? whats the difference between PS and FTP?
If FTP players dont get their money back it will be sick blow to the online poker industry.

PS paid all their players back within like a week. They're at pretty much zero risk of getting their license suspended. PS is run by professionals while FTP is run by baboons.

Another big difference between pokerstars and ftp is their dependence on American players, while FTP was very small until the UIGEA happened pokerstars was the 2nd biggest room already (after PartyPoker). Stars is very strong in some European markets like Italy and France, which are ranked #6 and #8th by itself biggest as network according to pokerscout.

On June 29 2011 12:46 Liquid`Meat wrote: Another big difference between pokerstars and ftp is their dependence on American players, while FTP was very small until the UIGEA happened pokerstars was the 2nd biggest room already (after PartyPoker). Stars is very strong in some European markets like Italy and France, which are ranked #6 and #8th by itself biggest as network according to pokerscout.

afaik this numbers are false

On June 29 2011 12:28 Stim_Abuser wrote: Thanks for your contribution David. Everything you said looks about right to me aside from the confidence that the DOJ will pay back US players. I think that might come from just the distrust I have in the US government. I think there is a good chance they will find a legal way to keep the money. I mean FTP is gonna go under and owe the DOJ the 4 billion or w/e they were fined so DOJ will probably keep everything in the seized accounts. If by some miracle the DOJ decides to pay out to players from the frozen funds it'll probably be 3+ years at least before people start to see any money. I'd say at this point 90% chance no FTP players see any money.

Just to say, it took about 9 months before Neteller paid out funds when they were indicted, but it did happen. The people who are at the DOJ are your nation's most highly educated and capable people, in any case with the DOJ, FTP would come to a settlement before an actual trial; to do so would be to risk a very long and expensive trial along with exposure to a very long sentence...

I found pretty pathetic from FTP that even PokerStars beat them into making an statement regarding this situation lol

<3<3 PokerStars

On June 29 2011 12:52 maryn wrote: Show nested quote + On June 29 2011 12:46 Liquid`Meat wrote: Another big difference between pokerstars and ftp is their dependence on American players, while FTP was very small until the UIGEA happened pokerstars was the 2nd biggest room already (after PartyPoker). Stars is very strong in some European markets like Italy and France, which are ranked #6 and #8th by itself biggest as network according to pokerscout. afaik this numbers are false

Well I can't verify the numbers provided by pokerscout, but the point is that those rooms are big by itself and pokerstars is still banking hard even without US players.

The statement sTrAtO is referring to can be found here: http://www.pokerstarsblog.com/2011/statement-from-pokerstars-083011.html

Note: 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."

On June 29 2011 12:53 HeroPoker-CEO wrote: Show nested quote + On June 29 2011 12:28 Stim_Abuser wrote: Thanks for your contribution David. Everything you said looks about right to me aside from the confidence that the DOJ will pay back US players. I think that might come from just the distrust I have in the US government. I think there is a good chance they will find a legal way to keep the money. I mean FTP is gonna go under and owe the DOJ the 4 billion or w/e they were fined so DOJ will probably keep everything in the seized accounts. If by some miracle the DOJ decides to pay out to players from the frozen funds it'll probably be 3+ years at least before people start to see any money. I'd say at this point 90% chance no FTP players see any money. Just to say, it took about 9 months before Neteller paid out funds when they were indicted, but it did happen. The people who are at the DOJ are your nation's most highly educated and capable people, in any case with the DOJ, FTP would come to a settlement before an actual trial; to do so would be to risk a very long and expensive trial along with exposure to a very long sentence...

Difference being neteller continued to operate and didn't lose anywhere near their biggest market. FTP has lost it's biggest market by far and had all its pros denounce it and it has recently been suspended from licensing. While the people are the DOJ might be highly capable it doesn't mean they give a shit about poker players. The people on wall street are highly capable... and they fucked us good and hard. The DOJ is looking out for the DOJ far before it's looking out for poker players.

Lets just do an example. Let's say the DOJ has about 1billion frozen of FTP money. FTP clearly doesn't have much of any liquid money right now and they just got suspended. FTP is likely pretty much going under or has to declare bankruptcy. The DOJ is owed 4billion and they have 1billion of FTP money. You think they're going to ship around 200million or more of that 1billion to pay out US players they feel were playing on an illegal network?

On June 29 2011 12:35 dnagardi wrote: I don't understand how could this happend to the 2nd biggest site... is PS safe? whats the difference between PS and FTP? If FTP players dont get their money back it will be sick blow to the online poker industry.

PS is fine: http://www.gov.im/gambling/

On June 29 2011 13:19 Stim_Abuser wrote: Show nested quote + On June 29 2011 12:53 HeroPoker-CEO wrote:   On June 29 2011 12:28 Stim_Abuser wrote: Thanks for your contribution David. Everything you said looks about right to me aside from the confidence that the DOJ will pay back US players. I think that might come from just the distrust I have in the US government. I think there is a good chance they will find a legal way to keep the money. I mean FTP is gonna go under and owe the DOJ the 4 billion or w/e they were fined so DOJ will probably keep everything in the seized accounts. If by some miracle the DOJ decides to pay out to players from the frozen funds it'll probably be 3+ years at least before people start to see any money. I'd say at this point 90% chance no FTP players see any money. Just to say, it took about 9 months before Neteller paid out funds when they were indicted, but it did happen. The people who are at the DOJ are your nation's most highly educated and capable people, in any case with the DOJ, FTP would come to a settlement before an actual trial; to do so would be to risk a very long and expensive trial along with exposure to a very long sentence... Difference being neteller continued to operate and didn't lose anywhere near their biggest market. FTP has lost it's biggest market by far and had all its pros denounce it and it has recently been suspended from licensing. While the people are the DOJ might be highly capable it doesn't mean they give a shit about poker players. The people on wall street are highly capable... and they fucked us good and hard. The DOJ is looking out for the DOJ far before it's looking out for poker players. Lets just do an example. Let's say the DOJ has about 1billion frozen of FTP money. FTP clearly doesn't have much of any liquid money right now and they just got suspended. FTP is likely pretty much going under or has to declare bankruptcy. The DOJ is owed 4billion and they have 1billion of FTP money. You think they're going to ship around 200million or more of that 1billion to pay out US players they feel were playing on an illegal network?

Well, reality is, there are so many different scenarios, but this is what I would tell my pros and have said. The key point here is that the fine is not owed to DOJ, it something of a number to be negotiated and there are various factors to the final settlement. If the DOJ's concern is not financial, it is of course political in nature. Now there many be financially related or motivated actions, but ultimately they are a political/legal enforcement entity. Thus, if FTP is not insolvent, DOJ will squeeze them and FTP will negotiate hard back to get a settlement that would allow them to pay and still continue a viable business. If FTP is insolvent then these money will be owing and held against those who are indicted and will lead to jail time etc, but the player funds themselves would not be considered the property of FTP to use to pay the fine with. Now, of course you can see it both ways,will DOJ see that money as player funds or FTP operational funds? But, whatever the DOJ denotes as player funds, they will not touch for the fine.

My point is that this 'fine' is really a political tool to bend FTP to the DOJ's will, it's not used as a financial debt held against the company, although it appears that way. Now, you may think that I'm reaching here, but in actuality, dealing at this level/negotiating with the DOJ is a highly complex process that only a few professionals would be able manage well. I'm just mentioning that if you give me the benefit of the doubt here and for the moment see the fine as a political tool rather than monies owning, then I would say, for the DOJ simply to take player funds outright would create unnecessary collateral political damage. It is no coincidence that the DOJ 'allowed' PS/FTP the option to have the ability to pay out players in the US to shift the political and perceived public responsibility to them instead of the DOJ once American players started to go public in media etc.

That being said, I agree with you that if/when FTP does go insolvent, the situation becomes so complex on many levels that all bets are off on the outcome, my only point is just framing the context is how the DOJ uses the 'fine'; it just wouldn't make sense for them to purposely screw the players after FTP has been ground to the dust and I'm saying that as former Korean gov't agency negotiator.

I'm still pretty confident FTP will end up paying out its customers. There have been a lot of rumors about Binion buying out Bitars shares in FTP, and Durrr had tweeted that there was some really good news coming soon.

wow so sick

On June 29 2011 14:01 HeroPoker-CEO wrote: Show nested quote + On June 29 2011 13:19 Stim_Abuser wrote:   On June 29 2011 12:53 HeroPoker-CEO wrote:   On June 29 2011 12:28 Stim_Abuser wrote: Thanks for your contribution David. Everything you said looks about right to me aside from the confidence that the DOJ will pay back US players. I think that might come from just the distrust I have in the US government. I think there is a good chance they will find a legal way to keep the money. I mean FTP is gonna go under and owe the DOJ the 4 billion or w/e they were fined so DOJ will probably keep everything in the seized accounts. If by some miracle the DOJ decides to pay out to players from the frozen funds it'll probably be 3+ years at least before people start to see any money. I'd say at this point 90% chance no FTP players see any money. Just to say, it took about 9 months before Neteller paid out funds when they were indicted, but it did happen. The people who are at the DOJ are your nation's most highly educated and capable people, in any case with the DOJ, FTP would come to a settlement before an actual trial; to do so would be to risk a very long and expensive trial along with exposure to a very long sentence... Difference being neteller continued to operate and didn't lose anywhere near their biggest market. FTP has lost it's biggest market by far and had all its pros denounce it and it has recently been suspended from licensing. While the people are the DOJ might be highly capable it doesn't mean they give a shit about poker players. The people on wall street are highly capable... and they fucked us good and hard. The DOJ is looking out for the DOJ far before it's looking out for poker players. Lets just do an example. Let's say the DOJ has about 1billion frozen of FTP money. FTP clearly doesn't have much of any liquid money right now and they just got suspended. FTP is likely pretty much going under or has to declare bankruptcy. The DOJ is owed 4billion and they have 1billion of FTP money. You think they're going to ship around 200million or more of that 1billion to pay out US players they feel were playing on an illegal network? Well, reality is, there are so many different scenarios, but this is what I would tell my pros and have said. The key point here is that the fine is not owed to DOJ, it something of a number to be negotiated and there are various factors to the final settlement. If the DOJ's concern is not financial, it is of course political in nature. Now there many be financially related or motivated actions, but ultimately they are a political/legal enforcement entity. Thus, if FTP is not insolvent, DOJ will squeeze them and FTP will negotiate hard back to get a settlement that would allow them to pay and still continue a viable business. If FTP is insolvent then these money will be owing and held against those who are indicted and will lead to jail time etc, but the player funds themselves would not be considered the property of FTP to use to pay the fine with. Now, of course you can see it both ways,will DOJ see that money as player funds or FTP operational funds? But, whatever the DOJ denotes as player funds, they will not touch for the fine. My point is that this 'fine' is really a political tool to bend FTP to the DOJ's will, it's not used as a financial debt held against the company, although it appears that way. Now, you may think that I'm reaching here, but in actuality, dealing at this level/negotiating with the DOJ is a highly complex process that only a few professionals would be able manage well. I'm just mentioning that if you give me the benefit of the doubt here and for the moment see the fine as a political tool rather than monies owning, then I would say, for the DOJ simply to take player funds outright would create unnecessary collateral political damage. It is no coincidence that the DOJ 'allowed' PS/FTP the option to have the ability to pay out players in the US to shift the political and perceived public responsibility to them instead of the DOJ once American players started to go public in media etc. That being said, I agree with you that if/when FTP does go insolvent, the situation becomes so complex on many levels that all bets are off on the outcome, my only point is just framing the context is how the DOJ uses the 'fine'; it just wouldn't make sense for them to purposely screw the players after FTP has been ground to the dust and I'm saying that as former Korean gov't agency negotiator.

I was under the impression that the entire political purpose behind the DOJ attacking online poker was indeed financial gain. There isn't really any other political purpose. There isn't like a bunch of voters to gain from this or anything of the like. I don't see any political machinism behind it.

I also highly doubt no matter what that it'll come off as the DOJ not paying players. It'll come off that the DOJ seized their illegal operating funds and that FTP didn't pay the players.

Maybe you're right and maybe I'm pessimistic... but considering how bad our government has fucked us, how corrupt it is and how greedy it is I'm gonna remain skeptical until I see a statement by the DOJ saying otherwise.

On June 29 2011 14:23 Bigbobm wrote: I'm still pretty confident FTP will end up paying out its customers. There have been a lot of rumors about Binion buying out Bitars shares in FTP, and Durrr had tweeted that there was some really good news coming soon.

i disagree.

from this point on... FTP players (US and non-US) will have lesser chance on getting their money back from that site.

no license? no payment processor/bank will ever make transactions with them.

FTP re-opens with new t&c soon? look at how many players click on the withdrawal button. this is gonna look like a bank run.

can FTP get a new license? maybe... but i doubt it. maybe next year when all cases with the DOJ are settled.

are the owners/execs thinking about paying the players back? highly doubt it. they are thinking about an exit strategy and saving their own asses right now.

durrrr tweeted something good? fuck durrrr.

oh... and again. UNTIL FTP PUTS PLAYERS FUNDS SAFELY IN A SEGREGATED AND PROTECTED ACCOUNT LIKE WHAT POKERSTARS DOES, DO NOT PLAY AT FULLTILT POKER!

On June 29 2011 14:23 Bigbobm wrote: I'm still pretty confident FTP will end up paying out its customers. There have been a lot of rumors about Binion buying out Bitars shares in FTP, and Durrr had tweeted that there was some really good news coming soon.

chances someone investing in FTP at this point are going even lower
if by any chance they receive their license back everyone will start withdrawing their bankroll out of FTP immediatly due to trust issues with the company - or in other words FTP will collapse
also the larger part of their market were americans to whom they wont be able to offer their services anymore so they were already screwed in 1st place and now shit got even worse

shit... i won't even put money on stars until that shit with the DOJ is over with. what more on FTP.

stars will always be safest amongst the unsafe
still, makes me think of probably ditching any SNE delusions i had, i dont wanna grind my whole life feeling like poop breaking even then waking up to something similar again. any site which has some * in their legitimacy does not deserve my time and money

On June 29 2011 17:51 DvoBoardRider wrote: Show nested quote + On June 29 2011 14:23 Bigbobm wrote: I'm still pretty confident FTP will end up paying out its customers. There have been a lot of rumors about Binion buying out Bitars shares in FTP, and Durrr had tweeted that there was some really good news coming soon. i disagree. from this point on... FTP players (US and non-US) will have lesser chance on getting their money back from that site. no license? no payment processor/bank will ever make transactions with them. FTP re-opens with new t&c soon? look at how many players click on the withdrawal button. this is gonna look like a bank run. can FTP get a new license? maybe... but i doubt it. maybe next year when all cases with the DOJ are settled. are the owners/execs thinking about paying the players back? highly doubt it. they are thinking about an exit strategy and saving their own asses right now. durrrr tweeted something good? fuck durrrr. he prolly got his money out after black friday.

fixed my own post.

Durrr promised 1M if FTP ran with bankrolls and he would also lose his FTP contract etc, he probably is more concerned and would lose more than you.

On June 29 2011 22:58 Baal wrote: Durrr promised 1M if FTP ran with bankrolls and he would also lose his FTP contract etc, he probably is more concerned and would lose more than you.

Yes he said $1m + he losses contracts + he said he will donate ALL the money he was paid by FTP, so if all that happens, god fucking hell that sounds worse then when he ran into Isildurr

tom dwan was going to announce some "good news" in his twitter yesterday, then a couple hours later FTP gambling license gets revoked
Nothing has been heard from him since.

some poker pundits suggest he probably was going to announce how much he saved 20% on his car insurance
lol

http://forumserver.twoplustwo.com/29/...ssip/waiting-dwans-good-news-1060117/

On June 29 2011 22:58 Baal wrote: Durrr promised 1M if FTP ran with bankrolls and he would also lose his FTP contract etc, he probably is more concerned and would lose more than you.

is that supposed to make people playing at FTP feel safer?

oh.. and durrrr loses more? the fuck do i care.

On June 29 2011 23:15 DvoBoardRider wrote: Show nested quote + On June 29 2011 22:58 Baal wrote: Durrr promised 1M if FTP ran with bankrolls and he would also lose his FTP contract etc, he probably is more concerned and would lose more than you. is that supposed to make people playing at FTP feel safer?

no i was just pointing out how pathetic your attempts to belittle him where, when he has showed an amazing moral integrity not many people have.

are you his wife?

remember when Joe Sebok promised to get to the bottom of the UB scandal, get HH and expose those responsible
what amazing moral integrity he had.

a year ago i could've never imagined this, but now this isn't shocking at allt. Thank god I moved my entire roll to stars in january. For players who did have a lot on FTP, i can't even imagine what this feels like.

On June 30 2011 00:10 byrnesam wrote: remember when Joe Sebok promised to get to the bottom of the UB scandal, get HH and expose those responsible what amazing moral integrity he had.

can you clarify what he did?

signed sponsorship deal with UB under the guise that he was going to get HH, get money back, expose the people who were involved and pull all kinds of wizardry to become a folk hero in poker.
then never delivered on any of it and became a shill for UB / laughing stock.

Whilst i trust FTP/Dwan more than UB/Sebok, lets not forget, Dwan is a paid employee of the company and talk is cheap...

Everyone should assume the worst imo.

im pretty confident dwan wont come through with all the promises and is trying hard now to wiggle out of that declaration lol

On June 30 2011 02:25 whamm! wrote: im pretty confident dwan wont come through with all the promises and is trying hard now to wiggle out of that declaration lol

but you are always confident in doom lol

On June 30 2011 02:25 whamm! wrote: im pretty confident dwan wont come through with all the promises and is trying hard now to wiggle out of that declaration lol

do you want to bet on it?, i mean you are pretty confident, what odds you give me that IF ftp doesnt pay BRs Dwan doesnt ship the 1M either.

He declared more than 1Million dollars. He also stated he will be paying back everything FTP paid him, which can amount to a lot of money and run into the millions(very unrealistic). I would take you up on that bet but it's pretty hard to keep checking on what kind of timetable we are talking about, and I can't really bet for a ton of money. I also do not want to wish that FTP does not pay so the bet that I can afford won't be worth seeing a lot of people I know suffer if I win the bet. When I first heard about the 1M I felt Dwan would pull through, but after reading about the extra money thing, plus the logistical hurdles of to who the fuck he'll be giving/distributing the money to is close to impossible.


Not in any way saying Dwan is an asshole or anything, I think that he really stood up for the players online, its just that it is very unrealistic for him to follow through this time, he may have been mislead, misinformed or just as naive as us with regards to the situation. Again Dwan won't pay because he doesnt want to, its just going to be too damn hard to do so. Between his and Ivey's actions since Black Friday, I definitely find his statements to be more pro active, sincere and helpful to the players affected.

C'mon, Dwan knows how much money he has and how much FTP paid him and isn't planning on going anywhere so people will be paid 100%.

thanks a lot for the posts David.

good luck to everyone.

Dwan/galfond is a victim just like us. I think they both should get a pass and keep their money.

On June 30 2011 03:57 whamm! wrote: He declared more than 1Million dollars. He also stated he will be paying back everything FTP paid him, which can amount to a lot of money and run into the millions(very unrealistic). I would take you up on that bet but it's pretty hard to keep checking on what kind of timetable we are talking about, and I can't really bet for a ton of money. I also do not want to wish that FTP does not pay so the bet that I can afford won't be worth seeing a lot of people I know suffer if I win the bet. When I first heard about the 1M I felt Dwan would pull through, but after reading about the extra money thing, plus the logistical hurdles of to who the fuck he'll be giving/distributing the money to is close to impossible. Not in any way saying Dwan is an asshole or anything, I think that he really stood up for the players online, its just that it is very unrealistic for him to follow through this time, he may have been mislead, misinformed or just as naive as us with regards to the situation. Again Dwan won't pay because he doesnt want to, its just going to be too damn hard to do so. Between his and Ivey's actions since Black Friday, I definitely find his statements to be more pro active, sincere and helpful to the players affected.

2 paragraphs to dodge? you cant say "pretty sure of X" then not bet on it, because you are not sure then.

He didnt said extra money, his tweet basically implied that the 1M was pretty much FTPs endorsement so far, and working on a timeframe is quite easy.

On June 30 2011 08:31 AndrewSong wrote: Dwan/galfond is a victim just like us. I think they both should get a pass and keep their money.

they are victims and i wouldnt judge them if they chose to keep their money if they didnt state in public they would donate one million.

On June 30 2011 08:38 Baal wrote: Show nested quote + On June 30 2011 08:31 AndrewSong wrote: Dwan/galfond is a victim just like us. I think they both should get a pass and keep their money. they are victims and i wouldnt judge them if they chose to keep their money if they didnt state in public they would donate one million.

Yea, obviously both are gonna pay up. It's just awful for dwan because he's been misinformed one too many times by people in FT. Eitherway, bad PR on his part to gamble 1MIL+ in return of positive public view.

I just hope this somehow turns around. Got 400k locked in FTP and this would bankrupt my life.

apparently FTP is going with Kahnawake Gaming Commission.

On June 30 2011 12:06 Arirang wrote: apparently FTP is going with Kahnawake Gaming Commission.

source dood

On June 30 2011 09:09 AndrewSong wrote: Show nested quote + On June 30 2011 08:38 Baal wrote:   On June 30 2011 08:31 AndrewSong wrote: Dwan/galfond is a victim just like us. I think they both should get a pass and keep their money. they are victims and i wouldnt judge them if they chose to keep their money if they didnt state in public they would donate one million. Yea, obviously both are gonna pay up. It's just awful for dwan because he's been misinformed one too many times by people in FT. Eitherway, bad PR on his part to gamble 1MIL+ in return of positive public view. I just hope this somehow turns around. Got 400k locked in FTP and this would bankrupt my life.

Motherofgod.jpg

On June 30 2011 13:34 Highcard wrote: Show nested quote + On June 30 2011 12:06 Arirang wrote: apparently FTP is going with Kahnawake Gaming Commission. source dood

http://www.casinocitytimes.com/news/a...ugh-kahnawake-mohawk-territory-197841

(I've allready tried to post the link without succes , I hope I will not triple post )

On June 30 2011 08:37 Baal wrote: Show nested quote + On June 30 2011 03:57 whamm! wrote: He declared more than 1Million dollars. He also stated he will be paying back everything FTP paid him, which can amount to a lot of money and run into the millions(very unrealistic). I would take you up on that bet but it's pretty hard to keep checking on what kind of timetable we are talking about, and I can't really bet for a ton of money. I also do not want to wish that FTP does not pay so the bet that I can afford won't be worth seeing a lot of people I know suffer if I win the bet. When I first heard about the 1M I felt Dwan would pull through, but after reading about the extra money thing, plus the logistical hurdles of to who the fuck he'll be giving/distributing the money to is close to impossible. Not in any way saying Dwan is an asshole or anything, I think that he really stood up for the players online, its just that it is very unrealistic for him to follow through this time, he may have been mislead, misinformed or just as naive as us with regards to the situation. Again Dwan won't pay because he doesnt want to, its just going to be too damn hard to do so. Between his and Ivey's actions since Black Friday, I definitely find his statements to be more pro active, sincere and helpful to the players affected. 2 paragraphs to dodge? you cant say "pretty sure of X" then not bet on it, because you are not sure then. He didnt said extra money, his tweet basically implied that the 1M was pretty much FTPs endorsement so far, and working on a timeframe is quite easy.

what kind of timeframe are we talking about here and for how much?
im not dodging ffs, ive clearly said why im not comfortable in making money out of my "confidence" in something. i dont instabet on stuff just because i feel confident that x will happen, especially when other people i know are affected, but if you insist as long as i can afford the bet and its not a very long timetable ill take u up on that bet.

baal is leveling and attempting to dodge the bet

On June 30 2011 09:09 AndrewSong wrote: Show nested quote + On June 30 2011 08:38 Baal wrote:   On June 30 2011 08:31 AndrewSong wrote: Dwan/galfond is a victim just like us. I think they both should get a pass and keep their money. they are victims and i wouldnt judge them if they chose to keep their money if they didnt state in public they would donate one million. Yea, obviously both are gonna pay up. It's just awful for dwan because he's been misinformed one too many times by people in FT. Eitherway, bad PR on his part to gamble 1MIL+ in return of positive public view. I just hope this somehow turns around. Got 400k locked in FTP and this would bankrupt my life.

jesus.

more rumors going around that jack binion is now investing in ftp. for andrews sake i hope these substantiate

I don't know about international players, but anyone who thinks US players are ever gonna see their money again is severely delusional.

Well if those rumours are true then they have to pay the American players as well, there is no way ftp can recover without paying everyone their full balance.

On June 30 2011 14:45 whamm! wrote: Show nested quote + On June 30 2011 08:37 Baal wrote:   On June 30 2011 03:57 whamm! wrote: He declared more than 1Million dollars. He also stated he will be paying back everything FTP paid him, which can amount to a lot of money and run into the millions(very unrealistic). I would take you up on that bet but it's pretty hard to keep checking on what kind of timetable we are talking about, and I can't really bet for a ton of money. I also do not want to wish that FTP does not pay so the bet that I can afford won't be worth seeing a lot of people I know suffer if I win the bet. When I first heard about the 1M I felt Dwan would pull through, but after reading about the extra money thing, plus the logistical hurdles of to who the fuck he'll be giving/distributing the money to is close to impossible. Not in any way saying Dwan is an asshole or anything, I think that he really stood up for the players online, its just that it is very unrealistic for him to follow through this time, he may have been mislead, misinformed or just as naive as us with regards to the situation. Again Dwan won't pay because he doesnt want to, its just going to be too damn hard to do so. Between his and Ivey's actions since Black Friday, I definitely find his statements to be more pro active, sincere and helpful to the players affected. 2 paragraphs to dodge? you cant say "pretty sure of X" then not bet on it, because you are not sure then. He didnt said extra money, his tweet basically implied that the 1M was pretty much FTPs endorsement so far, and working on a timeframe is quite easy. what kind of timeframe are we talking about here and for how much? im not dodging ffs, ive clearly said why im not comfortable in making money out of my "confidence" in something. i dont instabet on stuff just because i feel confident that x will happen, especially when other people i know are affected, but if you insist as long as i can afford the bet and its not a very long timetable ill take u up on that bet.

time frames have to be big, at least 2 years from now or 1 year if FTP declares bankrupcy, if Dwan pays before that you obviously ship before, lay odds.

Why is he laying odds if you are both super confident it will happen? In fact you sound more sure than him so shouldn't you be giving him odds? Have I missed something here? Will I end this sentence in another question mark?

On July 01 2011 04:23 Funktion wrote: Why is he laying odds if you are both super confident it will happen? In fact you sound more sure than him so shouldn't you be giving him odds? Have I missed something here? Will I end this sentence in another question mark?

really? when did i state i was "pretty sure" of it?

Is this why I can't connect to FTP. Is it still down? (Been out of the scene, just was going to have some fun)

yeah ftp is down
fuckers took our money

Shit..

the hearing is most likely going on soon, my guess is that this is a pre-requirement when they enter court and shit