Deadline To Seize Frozen Bankrolls Looms

The deadline to regain assets lost on Black Friday is tomorrow.
2383 14th July, 2011 Poker Law & Legislation
Deadline To Seize Frozen Bankrolls Looms

Perhaps tens of thousands of people lost their bankrolls on Black Friday, when the US government seized the assets and domains of several of the world's largest, offshore gambling sites. 

It is unclear whether any online players will regain any of their money seized on Black Friday. 

The deadline to make a claim in a New York federal court to regain lost assets is Friday, but it is unclear whether there is enough money to cover all of the lost assets. 

Online gambling in the US is illegal, based partly on the theory that gamblers could lose their money to offshore companies not subject to US laws. 

However, in the process of defending gamblers, the government has caused an untold number of online gamblers to lose their money. 

The affected sites inclue Full Tilt Poker, PokerStars, Absolute Poker, and Ultimate Bet. PokerStars is making full refunds available--they have set aside $120 million for that purpose--but it is unclear whether the other sites have the means to repay the debts. 

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Will Horowitz

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