Full Tilt Victims Can Expect Money Back in 2013

As you know SBA is not a poker site and we are a sports wagering information site only. However, some events in the gaming world effect the industry so entirely that we feel compelled to report on those as well.

It was not very long ago that we brought you the story that “Full Tilt Poker”, easily one of the worlds largest three poker websites, was actually in default of it’s players and had been run like a “ponzi scheme”. We bring you good news today in the fact that the money that was seized by the U.S. government has been earmarked to be distributed to the former players of that website.

The Department of Justice from the United States has announced it is searching for a person to head up this distribution of funds process and hopes to have one in place by January 2013.  There is still no time frame of when players should expect their funds, or at least a portion of their funds back, but I would guess by the end of that very same year is a good estimation.

The company “Poker Stars” is also on board for the entire process as they have bought the remaining rights to Full Tilt Poker.