Full Tilt Poker Remission Updates

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Friday, March 29th, 2013 | Written by Stephen Smith

The adage “no news is good news” has certainly never applied to former American customers of Full Tilt Poker.

Those in the U.S. waiting for the return of their Full Tilt funds have suffered through nearly two years of effectively no news. And while the official appointment of a company – the Garden City Group – to handle the remission process is certainly a welcome development, it still leaves many questions unanswered for Americans wondering exactly when and how their Full Tilt funds will be returned.

When Will Funds be Returned?

Despite the news of the appointment, players are still lacking a firm timeline for repayment. We will be following the story very closely, so bookmark our poker news section to get the very latest in Full Tilt repayment updates.

How Much Money Will Players Get Back?

This remains an open question for the American cohort of Full Tilt Poker players. All rest-of-world (ROW) players at Full Tilt received their full balances, including promotion points and other sources of potential cash value. But that was largely because PokerStars handled the transition and because of the lack of outstanding legal issues surrounding the funds in those countries. The situation is a good deal different in the United States, and there are more than a few reasonable scenarios under which players could receive something less than their full balances.

Can GCC Refuse to Pay Players?

Some players have a misunderstanding regarding the role of the Garden City Group in the Full Tilt Poker remission process, namely that the GCC is responsible for setting the policy that guides remission. That is not the case; the US Department of Justice remains in control of the process. The GCC is strictly an administrator. If it helps, think of them as the firm that basically does the paperwork after receiving very specific instructions from the DoJ regarding how to complete the paperwork. In short, if players have a concern about remission, it should still be addressed to the DoJ – not the Garden City Group.

Will Americans be Able to Play at Full Tilt Poker Again?

The remission process is not actually connected to the ability of Full Tilt Poker to apply for or receive licenses to operate online gambling sites in the U.S.. In simple terms, PokerStars has already handed over all of the money and information required to the DoJ, freeing PokerStars (and therefore the “new” Full Tilt Poker) from any connection to or obligation stemming from the repayment of Full Tilt’s former American customers.

With that said, it would obviously require a pretty talented marketer to convince players in the United States to play at the new Full Tilt when the old one still owed them money, so we’re unlikely to see a FTP return until the remission process is complete.