PokerStars Begins Payouts to US Players

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PokerStars_logoUnder its deal with the US Department of Justice, PokerStars, still the world’s largest poker site, has started allowing US customers to withdraw the money in their poker accounts. This was initially a huge concern not only for American players but for Canadian and International poker players due to the fact that 77 bank accounts were seized from the poker site which led to a widespread panic in the poker communities worldwide.

The Company says that player money is safe and is not being used for other company operations. A number of cash-out requests were already processed the other night according to a company representative and players should have their money within a matter of days. There is a stipulation, however, that players must cash out all of their funds. What does this mean for players holding large sums of money, many in excess of a million dollars in their poker accounts who suddenly receive such an enormous sum in their bank? Players will certainly be required to file special documents with their bank and this may also lead to potential tax problems perhaps… still it is better to take this opportunity to get their money out before something else changes.

Many players are waiting for their bankrolls to begin playing on other US friendly poker rooms like Carbon Poker or Cake Poker.

PokerStars have also stated that anyone who relocates from the US to another country will be subject to some extra scrutiny to make sure they’re actually playing from where they’re playing from.

Full Tilt issued a statement following the return of its dot.com domain which suggested it could not return player funds at this time.

Absolute Poker stated over the weekend that it was still in negotiations with the US Attorney’s Office over the return of its dot.com site.

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