One Down, Two to Go

This afternoon, PokerStars announced that they are now ready to return balances in Americans’ accounts back to them. Depending on the balance, this can be done by check, electronic funds transfer, or wire transfer (only balances of $50,000 or more can be done by wire). PokerStars notes that it could take up to one week for an EFT to reach your bank account.

It is very clear that PokerStars received the assurance of the Department of Justice that nothing would hinder the movement of funds, and that the same assurance was provided to PokerStars’ payment processor. Otherwise, there is no chance of this having moved as quickly as it has.

Meanwhile, Full Tilt has not made any announcements of when they will be ready to process cash-outs. I’d expect that to occur sometime in the next few weeks.

Finally, the silence is deafening from Absolute Poker (owner of Absolute Poker and Ultimate Bet). At the end of last week Absolute made an announcement noting that they’re reviewing their legal options. I would not hold my breath as far as receiving money that you have on Absolute or Ultimate Bet. I do think you will see it…eventually.

Another winner with today’s return of funds is the World Series of Poker run by Caesar’s Entertainment. Many of the individuals who would participate in the WSOP (which begins in just over four weeks) might have had their funds tied up due to the DOJ’s actions; however, it appears that some to all of the funds should be returned just in time for the WSOP.

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