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If Full Tilt Poker were a boxer, the line would be listed as -800, and few would bet it. In the case of Full Tilt Poker NOT re-opening for real money play by month’s end (July 2011), it might be worth the price.
US Customers Prohibited
Paddy Power continued offering odds on whether the embattled online poker room will reopen (some might call it “rising from the dead” at this point) after its licensing arm pulled the plug for nonpayment issues on June 29. Millions of dollars are owed to players across the globe. The website StolenBankrolls.com listed $6,304,049.70 owed to players registering their nonpayment since the site went online just days ago.
With a hearing scheduled July 26 to decide Full Tilt’s fate, there is a slight chance customers can begin playing for real money once again by the 27th (not that they would want to). The odds are actually somewhat short at 9/2.
Mysterious European investors were slated to take over the company but have since pulled back saying they only wish to acquire the UK and Irish assets of FTP. Should the Alderney Gambling Control Commission accept those terms, one would expect a public outcry from the rest of the world, so don’t count on it. The implication is that these so-called investors probably don’t have the funds necessary to take over this company in the first place.
Full Tilt Poker’s co-founders were indicted by the US Justice Department on April 15, charged with money laundering and bank fraud. If convicted they could be facing life sentences. It is widely believed that FTP does not have the necessary cash available to pay back players and that a significant amount of funds are being spent on lawyers.
- Chris Costigan, Gambling911.com Publisher
