A recent FT article written by Shannon Bond states that two of the world’s biggest on-line gambling companies: Poker Stars and Full Tilt Poker are to refund hundreds of millions of dollars to the Internet poker players.
The Department of Justice said on Tuesday it had settled civil fraud charges with Poker Stars and Full Tilt Poker. The companies are two aims of a recent crackdown on illegal gambling and money laundering.
Poker Stars are charged $731m. The company will return the money to the customers in the USA and abroad. It will also acquire assets and debts of its insolvent rival, Full Tilt Poker.
The US government will receive $547m which will go for reimbursing Full Tilt customers in the US. Full Tilt international players will get a refund of $184m.