Full Tilt Poker Shutdown
Full Tilt Poker Shutdown in Canada and The Rest of The World
Updated November 1, 2011
Full Tilt Poker has lost its gaming licence by the Alderney Gaming Commission in the UK on June 29, 2011. Full Tilt Poker's website and software are down. This affects all Full Tilt Poker players in Canada and the rest of the world.
Why Did Full Tilt Shut Down?
The reason for the shutdown is that on April 15 the Department of Justice (DOJ) in the USSA seized the domains and several bank accounts of Full Tilt Poker. They had stopped taking US real money players and were able to reclaim their domain name but not their funds that were frozen. These actions left Full Tilt with a $150 million owing to US players which have not been repaid due to financial difficulties. The inability to repay customers lead to the action of the Alderney Gaming Commission to revoke Full Tilts Licence and to suspend their operations immediately. There is a hearing set for the 26th of July for Full Tilt to try and regain their licence.
Can Canadians Withdraw money on Full Tilt?
Canadians are not able to withdraw at Full Tilt at this time as all operations appear to have ceased. There are rumours on the web that Jack Binion or a group of European investors is going to buy the company and restore operations. Alternatively Full Tilt may try to get a licence in a different, less ridged gaming jurisdiction and continue operations. At the top of this list is Kahnawake in Canada. Durrr - Tom Dwan has promised to back $1 million of player funds should Full Tilt not be able to pay. The only thing you can do is to sit tight to see if you can get your funds out. When operations do restart we do expect a rush of withdrawals which will put additional pressure on company finances, and see it more likely that for Full Tilt to reopen they will need additional backing of some major investors.
Is PokerStars Safe?
PokerStars is still operating and the Isle of Man where they are licensed has confirmed that PokerStars is in compliance with their gaming regulations. PokerStars has paid out over $120 million to its USSA Players since April 15th. PokerStars does still face charges relating to the April 15th closure of PokerStars to USSA Players and total fines if guilty may be in the area of $3 Billion.
What Poker Sites Are Safe Now?
The safest sites to play at are those with no exposure to the US market, are properly licensed and financed with a rock solid reputation of quick customer withdrawals as well as support. The top rated site for Canadians to Play at now is Bet365 which has been in operations since 1971 as a betting line over the telephone, and are now the leader on the ipoker network with thousands of real money players online at any time. In response to the shut down Bet365 has doubled its regular bonus to 200% up to $1000.
Bet365 Canadian Review
5 Star Rated Poker Site For Canadians: Bet365 Poker
Bet365 is the most highly regarded brand in online gambling and is our top pick for Canadians to play poker online for real money - it ranks a most impressive 9.26 / 10 on our comparative scale. Bet365 is very popular with Canadian players and has high traffic volumes as the top site on the ipoker network.
There is no US exposure and their reputation is rock solid with great service and fast payouts. The competition is weak and the software is easy to use and super fast. Grab a 200% up to $1000 new player bonus and play poker at Bet365.com its a good time.
Poker Site Shutdown News
Full Tilt Poker
Oct 2, 2011
The Full Tilt Poker shutdown continues into its 4th month and there may finally be an end in sight. French investors Groupe Bernard Tapie has reached a tentative deal with Full Tilt Poker pending a positive outcome by the US Department of Justice..
How Much is Full Tilt Poker Worth?
October 2, 2011
The following is our back of the napkin calculations that show that Full Tilt Poker's net worth is sufficient to allow an investor to purchase the company, refund all player balances plus a premium and still make a profit - which is good news for Full tilt Players who have funds that they cannot currently withdraw from the site.
Major Poker Sites Get Their Domains Back
April 22, 2011
PokerStars and Full Tilt poker were shut down by the US DOJ last week and they have now negotiated a deal to get their websites back if they do not offer real money play to US players. UB / Absolute poker is in negotiations for the same deal.
Poker Sites Shut Down
April 15, 2011
The .com domains for PokerStars, Full Tilt Poker, UB and Absolute Poker have been shut down by the US DOJ (department of justice) Criminal charges are pending against 11 of the executives of these sites for bank and wire fraud. The poker sites are still up and running for international players including Canadians.
At Play Poker Online Canada we are monitoring the situation and will update you of any changes. There is little risk of players losing their money at these sites, however that is not certain and more prudent players may opt for sites that do not have any US exposure. The safest 3 sites that do not have American exposure are: Bet365, 888poker, and Party Poker