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Department of Justice seeks Claims Administration Firm

Since PokerStars was forced to leave the US market last year, the brand has been busy preparing itself to re-enter the market. Most recently it struck a deal with the DoJ and Full Tilt Poker represented another stop in that direction.

The DoJ is looking for a firm to handle claims from ex Full Tilt Poker players based in the US.

As part of the deal PokerStars admitted no wrongdoing which means that if and when the US does start granting online poker licenses both PokerStars and Full Tilt Poker will be able to apply. The Executive Director of the Poker Players Alliance, John Pappas, pointed out that the DoJ could “have very easily banned PokerStars and Full Tilt Poker from the United States forever.” He believes that this is a sign that online poker “can and should be a viable industry” in the US.

More recently the DoJ has advertised for a claims administrator to process claims relating to Full Tilt Poker. The claims administration firm would help tot process claims from ex Full Tilt players in the US and refund them. The poker room owes around $159 million to about 1.3 million US players.

Players will be able to file claims with the firm but it is not yet known when the firm will be appointed, the DoJ has set an application deadline of August 31st. It is believed that the DoJ is likely to pick a firm that it is already acquainted with. There are roughly 20 firms in the US which qualify.

It is expected that any firm will use a number of teams on the job depending on the number of claims entered. It is not known how long each claim will take to process as it is likely to depend on the individual case.

However, the good news for players is that the recent deal with PokerStars means that the US government has all the funds it needs in order to fully refund US players.

 

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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