Although online betting has nothing to do with the Black Friday incident, Absolute Poker’s online betting shop has been shut down. Initially rumours were rampant that the FBI had shut down Absolute Poker’s online betting shop because the company did not follow the laws and was involved in money laundering which got them into trouble with the US government.
After rumours circulated about Absolute Poker’s online betting shop’s website being down, it was later revealed that the reason for the website being down was because Absolute Poker was restructuring its operations. It must be noted that not all online betting shops are being shut down – just Absolute Poker’s.
Right now, Absolute Poker’s European online betting shop website is still working, but it is worth considering that not many people would want to indulge in betting with this site after knowing the recent developments on their case.
Recently, the Costa Rican police also raided the poker companies operating in the capital San Jose and around that area. Several agents with prosecutors went in with a search warrant issued by the criminal courts in Pavas, and they searched offices and residences of people associated with the online poker companies that operated in Escazu, Rohmoser, and Santa Ana.
It is said that these actions also follow the accusations by the US attorney Preet Bharara against the founders of the top three poker sites that were recently indicted.
Absolute Poker faces $500 million in fines for the alleged crimes and unlike PokerStars and Full Tilt Poker there is no news of them entering into an agreement with the US government regarding repaying the funds of their players. There have also been rumours regarding Absolute Poker entering the bankruptcy process since there are no funds available and no way to make more funds in the future as seen by the company’s perspective.
A statement released by the company regarding the same states that Absolute Poker and UB have ceased their US facing operations due to the legal implications they face in the United States. The company has declared that it is currently restructuring and it is focusing its resources on consolidation of its non-US operations and software business. They say that in order to function more efficiently they need to downsize and streamline their operations, although they continue to operate their non-US interfaces.