Time Running Out For Gamblers Affected by Black Friday
Written by Elizabeth Officer on July 15, 2011 – 8:48 pmThousand of U.S. gamblers had their bankrolls seized on April 15th, the day many refer to as ‘Black Friday.’ It was on this day that the U.S. Department of Justice shut down three of the world’s largest online poker rooms. In the settlement that ensued, the three companies agreed to return the bankrolls of their American customers. Unfortunately, not everyone will be paid in full. In fact, most people are not expected to receive more than 10% of their bankroll. This is devastating to many people, especially those that have thousands of dollars tied up. Gamblers had until July 16th to make their claim in New York federal court.
Most American gamblers had no idea that their bankrolls were ever at risk. Though online gambling is illegal in the States, the laws were confusing at best and the industry seemed to be insulated. There were never any major crackdowns. Poker was growing in popularity with many online poker sites sponsoring major, televised tournaments. That would change in an instant and no one saw it coming, certainly not players who had their money tied up. But it did happen. The US DOJ came down hard on the industry and many American players are suffering financially as a result.
Tags: Black Friday, Friday
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