The poker world received an unexpected surprise on Monday, courtesy of the U.S. Department of Justice.
BREAKING: DOJ to set up remission process for players who lost $$ on Absolute Poker: https://t.co/wv6X3D05aX— PokerPlayersAlliance (@ppapoker) April 10, 2017
Almost six years after poker’s Black Friday, players can finally attempt to reclaim their funds from Absolute Poker or UB.com. After their parent company went bankrupt following Black Friday, many assumed that their balances were gone forever.
If you want to file a claim for your funds, you had better hurry as you have a limited amount of time to do so.
Garden City Group to Administer Payouts
The DOJ released a press release on Monday announcing the remission process and once again named Garden City Group as the remission processor. This is the same group that processed Full Tilt Poker claims for Americans. In this case, the AP/UB remission process is for both US and ROW players.
Those wishing to file a claim need to go to AbsolutePokerClaims.com and click on the Online Filing Page to begin the process. Some of you may have already received an email regarding the process. If so, you will need to log in with your Petition Number, Control Number and another piece of identifying information such as your username.
However, if you don’t receive an email, you can still file a claim. Just go to the same link and enter the email address you had on file with AP or UB, your username and your last name. This should bring up some information for you to verify or complete.
Once your account information is verified, you will be presented with your balance. If you agree with your balance, you can click on submit. Otherwise, you’ll have to upload proof of what you believe your balance to be.
Shortly after the announcement, I went to the site and filled out my information. My final account balance for UB.com was then displayed.
That’s right, I had a massive .06 in my account. I was one of many that treated my funds like play money and virtually donked it off. Granted, I only had about $10 on there when Black Friday hit along with a slew of satellite tournament tickets.
Note, that in order to take part in this process, you must have made a deposit on AP or UB at some point.
Full Repayment Not Guaranteed
According to the site, GCG began emailing former AP/UB players on Monday. They say that they will mail about 1.2 million “potentially eligible victims.” Naturally, that doesn’t mean that 1.2 million claims will be filed as many will probably forego filing due to low balances or for other personal reasons.
Also, realize that there’s no guarantee that you will receive your full balance upon filing a claim. Here’s what the site had to say about payments:
If the forfeited funds available for distribution equal or exceed the aggregate Account Balances for all eligible Petitioners, each eligible Petitioner with an approved claim will receive the entirety of his or her Account Balance or approved loss amount. If the aggregate Account Balances for all eligible Petitioners exceed the funds available for distribution, payments shall be made to eligible Petitioners on a pro rata basis.
The site didn’t reveal what that pro rata basis will be but some are assuming that players would get pennies on the dollar in that event.
Go Check Your Balance – But Do It Quickly
According to various reports, including my own experience, balances largely appear to be correct for those attempting to file a claim. Kevmath for example has a 33% larger bankroll on AP/UB than I do.
I'll let the government enjoy my balance. pic.twitter.com/uTyRDDe1nK— Kevin Mathers (@Kevmath) April 10, 2017
Many players will have pennies to a few dollars in their account, but one person on the Facebook group RealGrinders revealed he has $10k in his AP/UB account. Regardless of how much you think you may have had, log in and check to be certain.
With that said, you need to file that claim without delay. The AP/UB claims process is only open until June 9, 2017. Afterwards, you’ll miss out.
While it took almost 6 years to get started, AP and UB players will finally get a chance to recoup their bankrolls. That’s more than any of us expected considering the history of the sites.