Full Tilt to Release $15 Million in Third Round of Repayments

The Garden City Group has been approved to begin a third round of repayments to 3,500 US former Full Tilt players, totally about $15 million. (Image: pokerarena.cz)

Full Tilt Poker will be engaging in a third round of repayments, according to the Full Tilt Poker Claims website that will include about 3,500 transactions which will total approximately $15 million. The Garden City Group (GCG), which is the government-appointment Claims Administrator for Full Tilt Poker, has updated their website and stated a third round of payments to former Full Tilt Poker customers in the United States is coming and the approval process is complete.

Who’s Getting What, and When?

The players included in this round – who will benefit from the aforementioned $15 million in outlays – is most likely a mix of a few different types of players that had to wait beyond the first two repayments. It’s possible that the players on this list were ones that were just unlucky and were last in line, or possibly those that submitted incomplete petitions and had to be contacted.

Alternatively, it might be that those who submitted late petitions and are just now getting their refunds. The Garden City Group also posted that as part of the process of this round of payments, shortly before funds are transferred, players who are approved might notice a zero-dollar transaction in their bank statement that relates to the Full Tilt Poker Claims Administration. Players are advised that this zero-dollar amount is a normal part of the bank testing process in preparation for the actual amount.

The next round of payments is expected to be made in mid-June. The original round of repayments to players saw approximately $76 million distributed to 26,000 online players back in late February. The second round occurred on April 1st, issuing $5 million to about 2,200 players.

Affiliates Getting their Due

The Department of Justice stated that Full Tilt Poker affiliates would not be eligible for reimbursements, but the poker lobbyist group, the Poker Players Alliance, stepped in and swayed their opinion. However, the Garden City Group determined that only the funds earned from poker play would be reimbursed to affiliates, not any affiliate income, which was significant to many players. In their records, GCG did not differentiate between rakeback and affiliate income, as both were labeled “affiliate income” in the eyes of GCG, a sticking point for many players.

Once again, the Poker Players Alliance stepped in for players and had GCG’s mind changed once they were able to explain the difference between rakeback and affiliate income, meaning players were eligible to receive their rakeback income as well. Affiliates, however, had the onus of responsibility for providing proof of the rakeback amounts.

Some Players Might Owe Money

Some of the players involved in the repayment process for Full Tilt Poker might actually owe the government money. Debts might be collected through the Treasury Offset Program. Garden City Group made a statement advising players that there are those eligible for payment in the upcoming round, who have a delinquent debt qualifying for collection through this program. Players affected by this situation will receive a notice in the next few weeks, which will include a Unified Financial Management System Vendor Request Form, which must be filled out by an affected player. Without completion and return of this form, the player in question would not receive their repayment.

What Comes Next for Players

Overall, about $80 million has been returned to those victimized by Full Tilt Poker since the first payments trickled in back in February. This third round of repayments comes as good news to those still wondering what happened to their funds. It’s highly recommended that those affected by the Treasury Offset Program fill out the notice and return it as soon as possible, given the legal ramifications of outstanding debts to the government.

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