Online Poker Shut Down: Can You Get Your Money Back From Sites?
Several Major Online Poker Sites, Such as Poker Stars Were Shut Down on April 15, 2011. Will You Be Able To Get Your Money Back?
As you may have heard, many major poker sites were shut down on April 15, 2011 after being indicted on charges of bank fraud and money laundering.
These major sites have been shut down by US government officials. Most people are unable to see the sites, while other can see them since their Internet Service Provider has yet to update the DNS of each site.
Many online poker aficionados were caught off-guard by the indictment of sites like Poker Stars, Full Tilt Poker and Absolute Poker. It appears that the people who operate the poker sites were caught off-guard as well.
Some are asking the obvious question: How can I get my money back from shut down pokers sites like Poker Stars and Full Tilt Poker?
There doesn't seem to be an answer.
One blogger offers at least an educated guess as to what might happen:
So first off, the safe thing to do right now is get your money off the sites if you’re a US citizen, because there’s no definitive answer. Stars and FTP have always operated in good faith and have non-US business that requires the maintenance of their good reputations, so my hunch is that US players will eventually be compensated should funds be frozen, but eventually could be a long time. The guess seems to be that the sites will have money saved up for just this eventuality, but it’s unlikely that it’ll be immediately available for transfer.
Another poker writer had this to say about getting your money back from closed sites like Poker Stars, Full Tilt Poker and Absolute Poker.
Well, first of all, I'm not worried that I'll lose the funds in my online poker accounts. PokerStars and Full Tilt Poker both have a sizeable presence outside of the U.S., and in order to maintain that customer base, they'll need to make sure they pay all their U.S. players what they're due (I don't have any money on Absolute Poker, but I would probably be more concerned about their ability to pay me), though it could take months or even years, for that to happen.
Noted sports bettor Teddy Covers wrote via Twitter: "Personally, I'd try to pull any cash out from the poker sites, fo sho. Take the 'Over' on when you'll have it in your pocket though."
It's hard to say what will happen with accounts attached to these poker sites, since the US Department of Justice has said they consider online poker to be illegal although there is plenty of debate on the subject.