Absolute Poker & Ultimate Bet Players To Be Refunded
Today, we’re happy to report that Canadians who had funds on Absolute Poker or Ultimate Bet will be able to recover some or all of their money.
The closures, collectively known as poker’s “Black Friday” resulted in many of the targeted sites closing their doors forever, leaving the future of player balances in doubt:
Today, we’re happy to report that Canadians who had funds on Absolute Poker or Ultimate Bet will actually be able to recover some or all of their money.
7,000+ Players Affected For More than $30 Million
The total to be refunded comes to over $33m, and is being made possible only after a decision by the Money Laundering & Asset Recovery department of the DOJ agreed to the plan. More than 7,000 players are estimated to have funds that will be made available to them.
The welcome news does not come without precedent. The same type of remissions processes was followed by the US government when it released seized funds from PokerStars and Full Tilt Poker. That process was begun in 2012, and say nearly 50,000 players get refunded well over $100 million.
The experience will undoubtedly provide a blueprint for this new remissions process involving Absolute Poker and Ultimate Bet. Given the much smaller scope and scale here, players should be hopeful that there will be few, if any, problems getting their funds returned.
Applications Due September 7th
Given the huge popularity of the Absolute Poker and Ultimate Bet sites, it has proven difficult to rack down every player who is owed money, and there are currently efforts being made to contact anyone who has yet to make a claim to their funds. The deadline to file is September 7, 2017.
If you, or any other Canadian player you know had funds on either site they were unable to get off, make sure to let them know about the opportunity. Once the deadline passes, the funds will be lost to them forever.