Full Tilt Poker issues Black Friday update

Posted by Steve Ruddock on May 06, 2011 Posted in Online Poker News | No Comments »

On the 2+2 poker forum, Full Tilt Poker Doug updated the poker community on how Full Tilt Poker will handle the refunding of US players, as well as how they will convert tournament and ring game tickets, as well as Iron Man tickets and medals. The only thing not addressed was how the site would handle converting Full Tilt Poker points into cash, which seems to be something Full Tilt Poker is working on based on all of the other information put forth.

Here is FTPDoug’s 2+2 post:

I can announce that starting next week:

·    All T$ will be converted to real money on a 1:1 basis.
·    All Tournament Tickets will be converted to real money on a 1:1 basis.
·    All Ring Game Tickets will be converted to real money based on the current value of the ticket. This includes any tickets that have expired since April 15th, even if they no longer show in your ticket balance.
·    All pending Take 2 payments will be paid out. If you qualified for 3-6 days you will get $5, if you qualified for 7 or more days you will get $25.
·    All pending rakeback/Cash Back payments will be completed.
·    Any FTOPS Satellite Challenge winners will be paid.
·    All store purchases made after April 15th will be reversed. This includes the Iron Man store and the FTP store.
·    All uncleared portions of purchased bonuses will be refunded in the currency they were purchased.
·    All unused Iron Man freeroll tickets will be exchanged for medals at the same rate one would get if they went to the “Ticket Exchange” on the Iron Man page.
·    All April Iron Man medals will be paid out as if you played the entire month at the same rate as the first 15 days (so if you played 10 of the first 15 days of April, that will count as playing 20 days at that level). If you played all 15 days you will also get 15 medals for the One-A-Day promotion.
·    All Iron Man medals will then be converted to FTPs at a rate of 50 FTPs per medal, which is the top conversion rate in the Iron Man store.
·    All Full Tilt Poker Academy credits will be converted to FTPs at a rate of 1 FTP per credit.

I still don’t have an announcement about what will happen to FTPs, but we are working on it.

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