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November 3, 2011

Latest Full Tilt Poker Paying Back Players News

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Written by: Chris Wilcox
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Laurent Tapie, CEO of Groupe Bernard Tapie (GBT) – the company seeking to take over Full Tilt Poker – has confirmed that a deal reportedly struck between representatives of GBT and the US Department of Justice to repay ex-players of the suspended online poker site should be confirmed within two weeks.

Speaking in an interview with the French poker magazine, iGamingFrance, Tapie claimed that the status of the agreement would be changed from “tentative” to “final” once the Full Tilt Poker directors and shareholders have agreed to the acquisition of the company by Groupe Bernard Tapie.

Details of how the frozen funds will be distributed back to players are still unclear. Although it is known that the Department of Justice will be handling refunds to online poker players based in the States, while GBT have agreed to deal with outstanding balances for the rest of the world, nothing has been said about whether players will be allowed to withdraw balances immediately or whether the funds will be released over a period of time.

There are many other issues involved in the repayment of player´s funds – most importantly to RoW players that cashouts requested after Black Friday were never received, and the DoJ will experience its own problems trying to identify which players benefitted from Full Tilt Poker´s “oversight” of not being able to accept payments made through certain payment processors.

There is also the question of where the new Full Tilt Poker will get their licence from. Groupe Bernard Tapie may be able to pull some strings with the French poker licensing authority ARJEL and pay a substantial sum to the Kahnawake Gaming Commission for a temporary license, but if the company wants to been seen as credible and attract online poker players back onto the site, they are going to fulfil the licensing requirements of the AGCC and segregate players funds in a secure account. This may cause a problem for Tapie, who has demonstrated that he wants to put as little of his own cash into the venture as possible.

Tapie´s claims of a defined payment structure being confirmed once the Full Tilt Poker shareholder´s vote goes in his favour is a step in the right direction, but the path to raising Full Tilt Poker from the ashes has a long way to go yet. Laurent Tapie had previously announced that he intended to have the Full Tilt Poker web site up and running again by January 2012. This now seems unlikely and, with the past history of the Full Tilt Poker directors, it is no foregone conclusion that they will accede to the terms of the GBT takeover.

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5 Comments


  1. Sounds like good news. I was talking to one of our dealers today and he said he still has $55,000 on FTP. He is sure that at some point he will get his money back. Have a good one.


    • I’m glad he is optimistic about it. Personally, I don’t see anything coming out of the Full Tilt camp that isn’t just garbledy-gook. There have been various reports about paying back players for many months now with absolutely NO results. I would rate the possibility of players ever seeing their money form FT at about 20% right now. Of course, I would want to think better thoughts if I had $55k tied up in it as well!


  2. Ernest N.

    I was on poker stars with a bank account and was refunded alkl my $$$$$

    But I had just signed kup for full tilt and WU some cash $500.00 to be exact. I have bank set up with them because from the time I WU the cash 4 days later the JD shut them down. I do not even have them in my computer anymore. So how could they send me my money?? Is there some kind of honor system with the new people that they will go and find all the people in the United states and contact them???? Or would they just send a check upon if verifacation is made the you are owed??
    Any input would be appreciated
    Ernie in Las Vegas


    • Ernie, I’m afraid the answer to your question is ‘nobody knows.’ It has been months now and there has been no indication when or how plays will be paid back IF they will be paid back. I will do my best to report any news that I find.


  3. Ernest N.

    Made a mistake above I DID NOT HAVE THE BANK ACCOUNT SET UP YET.
    BUT all my information was given. I think I still have some saved information when I tried to get my money. With account numbers for full tilt



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