Full Tilt Poker's Domain Name Seized
Does anyone know the details behind the FBI seizing the Full Tilt Poker domain name? I remember hearing something about this in the news a while back, but there have been no updates in a while. Now, when you visit their website, there's a message saying the FBI agreed to let Full Tilt Poker keep the domain name "to facilitate players' withdrawals of funds held by Full Tilt Poker". What's the deal? (No pun intended, lol.)
From my understanding, the FBI seized Full Tilt Poker's Domain name because FTP was using player funds to pay business expenses, which is illegal. I'm guessing that FTP was audited and the amount of their expenses exceeded the profit they were making off the rake, so the only way they could have still paid their bill was to dip into player money.
Wow! Is this common? I remember hearing about Full Tilt Poker in the news, but it's been a long time ago and I haven't heard about any other online casinos since then. Do you think a lot of casinos are guilty of doing what Full Tilt Poker did? Do you think Full Tilt was just the first one that got caught?
Full Tilt Poker has been in the news for many of the wrong reasons lately. It was one of the sites involved in Black Friday and unfortunately American players are still banned from playing poker on the site. They can play for fun but the site is not accepting any real money payments from US residents.