NETWORK: Black Friday and AP/UB rakeback update

May 23, 2011

The recent events in the online poker world have not only changed the industry overnight, they have created a legal minefield for the sites affected and the issue of how to now return players funds.

Absolute Poker and Ultimate Bet have been perhaps the hardest hit. They are trying to resolve the issues, by working with the FBI and DOJ, to find a way to return players funds without creating further legal issues.

AP/UB have confirmed one thing and that is they are working to pay all non-U.S. players rakeback for April shortly but no date has been confirmed.

For US players the situation regarding rakeback and players funds is still undecided but a recent statement from Absolute Poker and Ultimate Bet (see below) means that the process is perhaps starting to be resolved, although when this will happen is no clearer.

"Under the agreement, the US Attorney's Office has agreed to provide all necessary assurances that third parties may work with Absolute Poker to facilitate the return of funds to players located in the U.S. This provision is an important step to returning U.S. player funds.

Unfortunately, the Company still faces several legal issues which must be navigated before funds can be paid out to U.S. players."(*)

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