Popular online poker website Full Tilt Poker has had its online gambling licenses suspended by the Alderney Gambling Control Commission. After months of refusing to refund American online poker players who were shut out after the Black Friday indictments, the online poker website is finally seeing some retribution.
Full Tilt Poker has argued that the company has come across several obstacles that have prevented players from received their refunds, but no one seems to be buying the story. However, some analysts believe that this has little to do with the suspension of Full Tilt Poker’s license.
Regardless of the reason behind the suspension, the situation has cause a great deal of turmoil in the online poker market. Payment processors are now refusing to work with Full Tilt Poker and Poker Lounge, a television show which was supposed to be sponsored by the online poker website, has been cancelled.
Players are also beginning to panic. The website has been down for “scheduled maintenance” since the suspension was announced earlier this morning, and players are worried they won’t be able to withdraw their winnings. With some of the most profitable online poker players registered on Full Tilt Poker, millions of dollars are at stake. Phil Ivey has already launched a lawsuit against the company, and other poker pros are likely to follow suit.