Just yesterday, online poker giant, PokerStars, revealed major news to the poker community. PokerStars has revealed their repayment plan to pay back $184 million to former Full Tilt Poker customers from outside the US. PokerStars also announced that Full Tilt Poker will be relaunching during the first week of November.
PokerStars has been working since August 9th, the day they closed the deal with the United States Department of Justice, on how they will pay back $184 million to customers from outside of the United States. The deal with the DOJ gave PokerStars the job of paying back non US residents while the DOJ was to pay back US players.
PokerStars has conferred with many different regulators in jurisdictions all over the world to ensure that the repayment process they will use will follow local regulatory requirements. The repayment process will vary according to the jurisdiction in which the player lives.
A locally licensed PokerStars platform will be used to repay players of Full Tilt Poker from France, Denmark, Estonia, Belgium and Spain. Players will be able to ‘pair’ their Full Tilt Poker Account with a PokerStars account to allow withdrawing or usage of their balance easy at PokerStars. FTP players from Italy will still have to wait a little bit longer for repayment as PokerStars is still working with regulators to determine the repayment process.
Other markets, still non US, will give FTP players full access to their accounts when the site relaunches this November. Speaking of which, the site is set to relaunch the first week of November, which is quickly approaching. If everything works out, players will have their funds back in their accounts by the relaunch and the relaunch will go smoothly so players will be able to enjoy FTP once again.
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