Big time pro poker gambler Phil Ivey is definitely avoiding the WSOP this year, claims Big Lead Sports. This is definitely because of the actions of supporter Full Tilt Poker, which has regularly neglected to refund customer account monies after the U.S. Justice Department cracked down on online poker online websites. The case claims that over $150 million in consumer funds is still in Full Tilt parent business Tiltware, LLC’s possession.
Full Tilt makes Ivey ‘deeply disappointed’
Full Tilt’s actions are more than just embarrassing, Phil Ivey said on his Facebook page. He said it makes it extremely hard for skilled poker players to get a better reputation without going to buy-in tournaments.
“I am not playing in the world Series of Poker, as I do not believe it is fair that I compete when others cannot,” writes Ivey. “I am doing everything I can to seek a solution to the problem as quickly as possible.”
Phil Ivey’s reputation needs fixing
By being closely associated with Full Tilt throughout his career, Ivey feels that the company’s lack of action in recent months has damaged his reputation. After a great deal of thought, he decided to bring suit against Tiltware, LLC, who are the founders of Full Tilt Poker. This group may become Ivey’s previous group soon. On Facebook he said:
“I sincerely hope this statement will ignite those capable of resolving the problems into instant action… I will dedicate the entirety of my time and efforts to finding a solution for those who have been wronged by the painfully slow process of repayment.”
Full Tilt allegedly had no financial institution reserve account
One thing Levy accuses Tiltware of isn’t having a bank reserve account for Full Tilt Poker. This made it so gamblers could definitely not very easily be refunded. Just like banks invest money deposited into them, online poker websites invest the money deposited into them. Full Tilt does this as well, states International Business Times.
This is definitely something federal regulators know and have laws about. Individual banks and online gambling online websites have to follow these reserve laws. Full Tilt won’t refund the consumer all of their money at once. Putting your money into one of these online websites may be a dangerous thing to do. This is as the gambling web sites don’t generally have the FDIC insurance banks do and would never get a tax bailout. Tax money would have to be used if the government were going to help. The government might not be able to get players their money back in the end.
Information from
Big Lead Sports
thebiglead.com/index.php/2011/06/01/phil-ivey-is-boycotting-the-world-series-of-poker/
Casino Scam Report
bit.ly/loVhfI
International Business Times
bit.ly/mR3mMV
Wall Street Journal
online.wsj.com/article/SB10001424052748704628404576265060852516194.html
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