Full Tilt Poker has been facing a series of indictments along with other top internet poker sites since Black Friday, but although the other sites seemed to have steered clear of trouble since the last indictment, Full Tilt Poker has been stuck in quick sand. The most recent update on the situation is that the French wing of Full Tilt Poker’s operations has been shut down causing its European players to abandon ship just like its US players.
Full Tilt Poker’s troubles began when it was indicted along with several other internet gambling sites for breaking the rules of the 2006 UIGEA Act as well as for having been involved in bank fraud and money laundering. Most of these sites including Full Tilt Poker have till date denied wrong doing; however, they were shut down and lost most of their businesses, customers and profits since Black Friday.
Full Tilt Poker did not follow suit with PokerStars who started paying out its players within a short time of being shut down, instead it has been facing more trouble since then. Full Tilt Poker recently got its license suspended by the ARJEL, which is the French Gambling Commission, after having seen a seizure of license from the Alderney Gambling Control Commission for having operated illegally.
The French organization stated that they were merely protecting their players from any harm that they might face. Full Tilt Poker was asked to provide evidence regarding its capability to pay out French players by the ARJEL and since it was unable to come up with any such evidence, the license to conduct gambling in France has been suspended, and this went into effect immediately.
Full Tilt Poker has shut down and the site reads “We apologize but the system is currently down. Please check back later. Please direct all enquiries to firstname.lastname@example.org.”
Industry analysts, Daniel Stewart and Co. have stated that, “It is unclear as to how long the suspension would be implemented but clearly French citizens would no longer be able to play on Tilt’s dot.fr site following the suspension. In our view the latest developments (Alderney and France) will have done irreparable damage to the beleaguered poker operator, and we expect further migration to the likes of Stars, BPTY, 888 and Playtech to follow.”
When statements regarding the suspension were issued there was a wave of migration seen from Full Tilt Poker to its competitor sites, and the latest suspension by ARJEL will cause another such wave to hit the shores of internet poker worldwide.