Party Poker Could Win Big

Party Poker could win big after a decision by a US attorney, apparently by order of the FBI.  An attorney from New York ordered a freeze on about $33 million in accounts of banks and payment processors who transfer winnings from both PokerStars’ and Full Tilt Poker’s players who are based in the US.

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These two online poker sites have continued to offer games to players in the US even after a ban on internet gambling was in place.  Party Poker decided to suspend all real money poker games in the US in October 2006 after the Safe Port Act was signed into law by the former US President George W. Bush before leaving office.  In April 2009 Party Poker agreed to pay the US government $105 million over 4 years as part of a “non-prosecution agreement”.

Because US poker players are estimated to be worth half of the $16 billion internet gambling industry worldwide, poker sites who offer games to US players will have much higher traffic levels and bigger prize pools which attracts European and UK poker players.  If US players get closed out of online poker altogether then European and UK poker players will be tempted back to European poker sites meaning sites such as Party Poker could win big.

German financial analysts from Deutsche Bank have been quoted saying “If this action is the start of a bigger move by US authorities to clamp down on those sites, then this should be materially beneficial for the next-largest providers of online poker, Party Poker.”

13th June 2009

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Article Last Updated: 25/05/2010 14:14:56

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