Protection Racket

Another example of government “protecting” us.

How to Win at Poker

On April 15, 2011, a day that has been dubbed “Black Friday” in the poker community, the DOJ shut down the American operations of three major sites: PokerStars, Full Tilt Poker, and Ultimate Bet.

Michael Kaplan has an update on the story:

In January of this year, Full Tilt and the DOJ worked out an arrangement in which the DOJ took ownership of Full Tilt with the intention of selling it to raise funds to pay back American players. Seven months later, on July 31, PokerStars purchased Full Tilt from the DOJ. Businessweek estimated that the transaction would make $547 million for the U.S. government. At the time, the DOJ vowed to reimburse Full Tilt’s U.S. players; Stars said that it would take responsibility for returning $184 million to non-American customers.

PokerStars followed through on its end of the deal and recently relaunched the Full Tilt site outside of the U.S.

So has the DOJ paid the U.S. players? Of course not.

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