If you’ve been waiting for your Full Tilt money since April 15, 2011 – the day the Feds froze all assets for the three major U.S. online poker sites – and hope to get your money back, you might want to cool your jets; there’s still a myriad of loopholes for the courts and reimbursement organizations to jump through before a dime goes back to players who lost their online funds.
Show Me the Money, Eventually
That’s the word from Cardplayer, an online site that caters to poker players, anyway. Cardplayer spokesperson Bob Pajich says the outfit designated to handle the U.S. Full Tilt funds reimbursements, Garden City Group, has numerous hurdles to jump before money can be allocated back to players who’ve been waiting. To date, concrete identifications of the millions of players involved haven’t even been solidified by the U.S. Department of Justice, and it’s looking like it could easily be 2015 before anyone sees a red cent.
As you can imagine with a government enterprise of this size and scope, the bureacracy factor is overwhelming. Besides concrete identifications, exact amounts to be disbursed also need to be nailed down, and that’s millions and millions of dollars. Two government agencies are interfacing with Garden City Group on this mammoth undertaking: the Asset Forfeiture and Money Laundering Section of the Department of Justice, as well as the Asset Forfeiture Unit of the U.S. Attorney’s Office for the Southern District of New York (the court that initially passed down the online poker site indictments).
Funds Spread Thin
As of right now, don’t hold your breath to get all your money back, even when and if you do; they’re saying there is $184 million designated to be disbursed back to players, and more than 1.3 million U.S. players still waiting for their dough; and that’s after all the attorneys involved get their piece of the pie. Those who wish to at least mark their spot in line can go to fulltiltpokerclaims.com and register; Garden City Group will that way have you in the system when and if your time comes to collect what will very possibly amount to about $1.63.