Friday, June 3, 2011

Phil Ivey Sues Full Tilt Poker, Claims the Site has not Refunded Money to Players


Last month, I wrote about the government seizures of online poker sites. It is illegal to gamble online in the U.S. and it also illegal for any poker site, even based overseas, to allow players to use their bank accounts to play. Many sites, including Full Tilt Poker were accused of creating fake transactions as means to allow people to gamble. A few days after the seizure, the government let the poker sites go up again only as a means for players to get their money. Well, Phil Ivey, one of the most popular and successful professional players, filed a lawsuit against Full Tilt Poker.  The basis of the lawsuit is that other online players have not gotten their money back.

According to “Phil Ivey Says Your Full Tilt Deposits Aren’t All There” from Ibtimes.com (International Business Times online), “Ivey alleges that Full Tilt owes around $150,000,000 to US players.” The article states that Full Tilt may have used players’ accounts the way a bank uses deposits. The problem is banks are insured and backed by the government; unless there is an extreme depression, bank depositors can get their money back. Online poker sites do not work with the government or even have their support, hence the seizures, so if the players ‘ accounts are wiped out, there is probably no chance for them to get their money.

Ivey has a press release on his website stating clearly that he will boycott the World Series of Poker (WSOP), file a lawsuit, and disassociate himself from Full Tilt until online players have been refunded. An excerpt of the press release:

"I am deeply disappointed and embarrassed that Full Tilt players have not been paid money they are owed. I am equally embarrassed that as a result many players cannot compete in tournaments and have suffered economic harm. I am not playing in the World Series of Poker as I do not believe it is fair that I compete when others cannot. I am doing everything I can to seek a solution to the problem as quickly as possible.

My name and reputation have been dragged through the mud, through the inactivity and indecision of others and on behalf of all poker players I refuse to remain silent any longer. I have electronically filed a lawsuit against Tiltware related to the unsettled player accounts. As I am sure the public can imagine, this was not an easy decision for me."



I applaud Ivey for using his powerful poker celebrity to bring light to an issue that many outside the community wouldn’t have known about. If it is true that Full Tilt did not reimburse players, this clearly makes their defense against the government useless. I don’t understand the point of no refunds considering Full Tilt could run out of business without the support of its online and professional players.

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