07 Aug 12
Ask PokerStars' Lee Jones about the Full Tilt Poker Deal!
With the world of poker altering announcement that PokerStars have purchased Full Tilt Poker and will repay the account balances of non-US players, Lee Jones of PokerStars is answering questions from PokerStrategy.com users.
One week ago, PokerStrategy.com was very happy to bring you news of PokerStars' acquisition of Full Tilt Poker after settling with the US Department of Justice.
According to the company's press release, PokerStars will pay the United States a total of $547 million over 3 years, some of which will be used to reimburse American Full Tilt customers. Another account with roughly $184 million will be opened to reimburse non-US customers. There will be no restrictions on withdrawals, and this account will be created within 90 days.
News of repayment and the return of Full Tilt Poker under PokerStars has electrified the poker world, though understandably many still have a lot of questions. Lee ' LeeJonesPokerStars' Jones of PokerStars has been busy answering player questions and now will be doing so on the PokerStrategy.com forums.
Check out Lee's FAQ and feel free to ask him your own question:
Forum: Official PokerStars acquires FTP & settles with DoJ Q/A
Some big questions from the FAQQ: Will Full Tilt be closed down permanently?
A: No. We plan to re-open Full Tilt in most markets within 90 days. At that time, player accounts will be fully available for use, play or withdrawal. We are not currently planning to seek a license to operate Full Tilt in France, Italy, Spain, Denmark, Belgium and Estonia. For Full Tilt players in these markets, we will work with regulators to determine the appropriate mechanisms for making funds available. In any case, these funds will be available as soon as possible.
Q: I play on PokerStars but not on Full Tilt. How does this affect me?
A: This will not impact players on PokerStars in any way. You can continue playing as before and your money is completely segregated and safe for play and/or withdrawing at any time you please.
Q: Will I be able to cash out my entire balance? (as a non-US player*)
A: Yes. Full balances will be made available for immediate withdrawal once the site is reopened.
Q: Are there going to be play-though requirements before I can cashout? (ROW)
A: No. You will have full access to your funds immediately and in most cases will be able to fully withdraw funds using the same methods previously available in your market.
Q: What happens to my Full Tilt loyalty rewards?
A: We are reviewing all previous Full Tilt reward programs and will provide more details on plans for these programs in the near future. We intend to have a fair resolution for players with accumulated points and other rewards under the program.
*under the terms of PokerStars' arrangement, a "US player" is defined as a Full Tilt Poker player whose account had an address in the US or US territories as of June 29, 2011.
Click for more information.