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Agreement Announced for PokerStars, Full Tilt Poker Player Cashouts

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poker videoOn Wednesday, the U.S. Department of Justice announced a deal with PokerStars and Full Tilt Poker to begin the process of paying out players affected by last week’s indictments. Although a significant number of questions are still left unanswered, the process of paying out money owed to U.S. customers on PokerStars and Full Tilt Poker appears to have begun.

A Department of Justice press release read in part, “This office expects the companies to return the money that U.S. players entrusted to them, and we will work with the poker companies to facilitate the return of funds to players, as today’s agreements with PokerStars and Full Tilt Poker demonstrate.”

PokerStars Moves to PokerStars.eu

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poker videoAfter yesterday’s indictment of its owners, PokerStars, formerly making its home on the URL PokerStars.com, will now move to PokerStars.eu according to a post from a site representative on TwoPlusTwo. The new domain loads normally from all parts of the world and boasts that nearly 150,000 players are logged in at the time of writing.

PokerStars cut off real money play from the United States on Friday afternoon after the U.S. Department of Justice issued indictments against 11 men, including PokerStars foundersIsai Scheinberg and Paul Tate. PokerStars.eu went live shortly thereafter and a PokerStars representative posted about it on TwoPlusTwo around Midnight ET.

Online Poker's Big Three Indicted

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poker videoOn Friday, an indictment against the founders of online poker's "big three" was unsealed by federal authorities. According to MarketWatch.com, the founders of PokerStars, Full Tilt Poker, and Absolute Poker were indicted on charges of bank fraud, money laundering, and illegal gambling. There were also restraining orders issued against over 75 bank accounts used by the online poker companies and their payment processors, as well as five Internet domain names.

The United States Department of Justice released a PDF of the indictment, and in it, 11 defendants are named: Isai Scheinberg, Raymond Bitar, Scott Tom, Brent Beckley, Nelson Burtnick, Paul Tate, Ryan Lang, Bradley Franzen, Ira Rubin, Chad Elie, and John Campos.

WSOP Main Event Field Shrinks to Two Tables on ESPN

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WSOP Main Event Field Shrinks to Two Tables on ESPNThe 2010 World Series of Poker (WSOP) Main Event field shrunk from 27 players to 18 on Tuesday night as the tournament aired on ESPN. Two players began with over 20 million in chips and five of the top nine stacks were seated at the ESPN feature table.

PokerStars pro Johnny Lodden was the first casualty of the night after 3betting all-in before the flop with pocket eights and receiving a call from Matt Affleck, who held A-10. Affleck turned a pair of tens and Lodden exited in 27th place from the Main Event.

7,319 Players Enter Second Largest WSOP Main Event in History

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7,319 Players Enter Second Largest WSOP Main Event in History

7,319 players stormed the Rio All Suites Hotel and Casino in Las Vegas for the first four Day Ones of the 2010 World Series of Poker $10,000 Championship Event, making it the second largest tournament in the history of the 41 year old institution.

To put this year’s tournament in perspective, only the 2006 WSOP Championship Event and its 8,773 player field – held prior to the passage of the Unlawful Internet Gaming Enforcement Act (UIGEA) in the United States later that year – eclipsed the number of players accommodated by the Rio this year. While this year’s Main Event is the second largest tournament in history, the first place prize will not be the second largest in history. Due to the flattened payout structure instituted by Harrah’s and WSOP officials last year, this year’s winner will receive $8,994,138, the third largest payday behind 2006 champion Jamie Gold’s $12 million bonanza and 2008 victor Peter Eastgate’s $9,152,416 bounty.