The Full Tilt Poker remission process will distribute another $2.8 million into the bank accounts of former U.S. players by the end of March.
The official FTP claims website provided an update on March 16 stating that about 3,500 petitioners are in line for this latest batch of payments that should arrive via ACH before April begins. It will be the fifth wave of payments that began February 28, 2014 and will find a total of roughly 37,000 players reimbursed an amount right around $100 million.
Claimants that can expect payment in this round are those who disputed their FTP account balances of $500 or less, as well as disputed claims from $500.01 to $2,000 in which the amount in dispute is less than 20%. Also included in this month’s disbursement are players whose account balances had been previously confirmed, but were not paid out due to other deficiencies.
Remission Process Ongoing
The Garden City Group (GCG), tasked with administering the claims, received the OK from the DoJ to provide this newest batch of payments that still won’t bring the remission process to a close. Still to be reviewed are disputed claims above $2,000, and those less than $2,000 in which the amount disputed is more than 20%.
The latest update also informed that bank accounts of players in line to be reimbursed will first be tested with a transaction of zero dollars to make sure that account numbers are valid. Proper payments should follow shortly provided that the bank account information is correct.
Players expecting payment but who owe an outstanding debt to the government will see their balances reduced accordingly. Certain forms need to be filled out under those circumstances and petitioners in the delinquent debt category will be instructed on how to proceed.
The GCG advises players still waiting for their funds to continue checking the website in the future for more updates. Though the entire remission process is taking quite a long time to play out, most players feel fortunate that reimbursement has or will eventually arrive.
Three years ago at this time, before PokerStars’ parent company Rational Group acquired Full Tilt, it looked as if FTP players would be left high and dry. Spirits were buoyed when Bernard Tapie made strides toward purchasing Full Tilt, but that deal fell through. Up stepped Rational Group to save the day.