Tuesday, November 29, 2011

American Poker Players looking to re-claim their own money may be waiting with their hand out sooner then later....


In a story found at ESPN.com it's being talked about that a deal may be nearly done that will allow poker players with money tied up in the Full-Tilt Poker scandal could find themselves in one of 2 places in the near future.....

1. Back at the poker tables at FullTilt with their bankroll from back this summer when it was frozen available and ready to go or

2.Waiting in line for the release of their money by the department of justice so they can again be made whole, like they should have in the first place if you ask me.

Group Bernard Tapie is rumored to be in the process of making the deal with the department of justice to take on the debts of FullTilt along with the bankrolls of all players from countries other then the United States. GBT would pay 80 million for the assests of FT in addition to those monies owed to foreign players. US players would then have to fill out an application for repayment of their funds. In order for this deal to be approved the currect ownership at FT would need to agree to forfeit their assets to the DOJ for repayment. Its looking like a very positive step at this point and the future looks bright for online poker where its again being discussed to legalize and tax it in the US markets. 

My Take: It's an obvious move to legalize and tax online poker throughout the US as the revenue stream even by conservative estimates is MASSIVE. It would be understandably difficult to regualate unless it was legalized throughout the US instead of just a state by state decision obviously. This would bring in much needed money at a time when our country is in dire need of funds to counteract everything from budget cuts, our incrediblely large and rising national debt and to hopefully regain the strength of the dollar.

What do you think>? Will it happen? Should it happen?

+Joshua Hastings