Garden City Group Announces Second Set of Absolute Poker Reimburs

Posted by Carolyn on Nov 02, 2017 Posted in Poker Industry News | No Comments »

PokerStars, Full Tilt Poker and Absolute Bet had to exit the U.S online poker market in 2011 after the Department of Justice (DoJ) indicted senior executives for all three online poker operators on a number of charges. These three leading online poker websites exited the U.S market without paying out its US players and millions of dollars were owed. Poker players in the United States were very disappointed as they had very little hope of regaining their winnings.

PokerStars, the biggest online poker website in the world wanted to get back into the United States and decided to refund its players a few years ago. Full Tilt Poker, a sister site found it difficult to pay back all of its players because it faced a fund shortage since its founders and used player money for their personal expenses. PokerStars helped Full Tilt out by funding the remaining amount and former FTP players did get their money back even though it took a few years.

Absolute Poker Claims Process

Absolute Poker (AB) showed no signs of reimbursing its U.S players but surprised the poker community in August when the Garden City Group (GCG) announced that it had been appointed as the claims administrator by the DoJ to oversee the reimbursement process. The GCG was also the claims administrator for the PokerStars and Full Tilt reimbursement process.

The GCG asked ex-AB players to fill in a Unified Financial Management System Vendor Request Form and submit their reimbursement claims. The GCG released a total of $33.5 million in August and over 7000 ex-AB players received their money. However there were still thousands of former players who still complained that they had not been reimbursed. The GCG has now announced that it has approved a second round of funding where $3.7 million has been approved and over 4,500 players will be reimbursed within the coming weeks.

AB Second Round Of Claim Reimbursements

The GCG has published on its website a detailed set of instructions on how ex-AB players should proceed if they want to send in a claim and receive their dues. The GCG has stated that those players who have already submitted their claims can expect to receive an email shortly which will confirm if their claims have been approved in the second round of reimbursements.

The GCG email will mention the claim amount that has been approved and the method of payment that will be used. The e-mail will also contain instructions on how former players should go about updating their banking information to receive electronic payments. The first set of AB payments were done extremely fast and former AB players who are yet to be reimbursed will be hoping that they receive an early Christmas present.

Once the PokerStars reimbursement process was completed by the GCG, there was a lot of money remaining and hence the DoJ has used the balance money to reimburse former FTP and Absolute Poker players.

 

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