The Full Tilt Poker online casino is one of the most popular poker casinos in the online gambling aspect. This is why that the Department of Justice of the U.S is planning to inspect the online site this April. This is to educate gambling operators and to catch illegal online gaming activities in the process.
Full Tilt Poker Online Casino Indictment
As of this year, FTP is at the top of when it comes to participants in the online casino. The online site harnessed the highest traffic compared to other online casino sites. The world’s best poker players gather there to wager their odds against other players. In any case the best players gather in a high stake game, millions and millions of pot money are given out on a daily basis. On the 15th of April last year, the Department of Justice had obtained certain reports against three big online poker sites- PokerStars, Absolute Poker and FTP and based on the UIGEA rules in the U.S that financial institutions are prohibited to shell out money for illegal online casino sites.
Moreover, the three sites were alleged to have manipulated payment procedures which contradict with the rules. These casinos are rumored to receive funding from other poker players via small bank accounts and sent to the online casino sites. DoJ has already frozen these said bank accounts of the online casinos.
In addition to the issue, all poker online sites stopped all gambling operations in the UK. Since these sites are required to input millions of dollars in the custody of the said “players”. DoJ has no intention of penalizing the poker players that is why the department created a way so that these sites can pay the players back. As of now only PokerStars followed the mechanisms provided by DoJ while FTP has failed to do so.
License
FTP was given the license to operate by Alderney Gambling Control Commission or AGCC. In addition to the conditions, FTP should not utilize the money funded by the players online for any illegal online gambling. The said condition is not implemented based on each transaction but rather on the site’s capability to maintain sufficient funding in equal to the number of funding coming from the players.
AGCC had also mentioned the owners of FTP gave misleading reports about how the site can sustain each funding that can cover the online players. However, reports had also said that FTP has no enough funding to support the claim. AGCC has also promised to revise each provision to avoid such irregularities in the process.
