As you've probably heard by now, the PokerStars website was recently shut down by government officials because they were not in full compliance with US laws. Since this event occurred, we have received hundreds of emails asking what this means for players and what's going to happen to PokerStars accounts with money in them. Here are the answers-
PokerStars has recently suffered a series of DDoS hits that have affected its ability to service its customers. Find out about what happened and the unsatisfactory way that the poker room attempted to deal with it. Full Contact Poker was migrated into PokerStars and the site reverted to simply being host to Negreanu's blog, forums, podcasts and other media. Negreanu became a regular participant on the EPT. PokerStars is an excellent fit for Pennsylvania and will help to grow the new regulated market. It has superior client software and enough variety in action to attract online poker players. Their spread of tournaments will keep players coming back and will force other sites to raise the quality of their offerings.
| 1. | 888 poker | n/a | 888poker.com |
| 2. | PokerStars | n/a | PokerStars.com |
| 3. | Party Poker | PPAL500 | Partypoker.com |
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What the heck happened to PokerStars?
Federal authorities have alleged that PokerStars (along with two other major poker sites) were violating the laws set forth under the UIGEA, which is the Unlawful Internet Gaming Enforcement Act. The website was temporarily seized by the US government to stop further criminal activity from taking place. Many top websites similar to PokerStars also faced the same type of prosecution.
What crime did PokerStars allegedly commit?
The US government has questions about the way that PokerStars and a few other websites have moved money back and forth from their online casinos. The UIGEA made it illegal for US residents to transfer money directly to poker websites, and it has been alleged that PokerStars employees bypassed these blocks by using deception. Birds on wire game. Other evidence suggests that PokerStars may have even gone as far as purchasing a US bank in order to transfer money without the government's knowledge. If these charges are in fact valid, then it is definitely time for players to start seeking a PokerStars alternative.
How long until the PokerStars website is back up?
What Happened To Pokerstars
That is almost impossible to answer since this matter will be handled by a court of law. PokerStars has denied the allegations and plans to contest the charges, so the website will likely remain down until a verdict is reached or some other type of agreement is made. If PokerStars is found guilty of all charges, it is possible that they will be blocked from all US IP addressed permanently. There are PokerStars alternatives available immediately though; see the bottom of the page for details.
What about my PokerStars deposits?
The US government has seized several US bank accounts that allegedly belonged to PokerStars and none of those funds will be released until after the trial. PokerStars has released a statement, however, saying that all deposits are perfectly safe. It is unclear at this time how or when players can access those funds.
Am I in trouble for gambling at PokerStars?
Absolutely not. The UIGEA simply prohibits online casinos and poker rooms from using US banks to transfer money. In fact, the document says nothing about the players at all; it only applies to the actual online casinos and poker rooms. Even if PokerStars is found guilty of violating these laws, the players are not facing any civil or criminal charges for gambling at that particular website. There is no legislation stopping players from seeking a PokerStars replacement or alternative.
I am not from the US. How does this affect me?
For now, the US government has actually seized the PokerStars website, which means that you can no longer access it from anywhere in the world. Once the government releases PokerStars back to the rightful owners, they should immediately open for business with gamblers outside of the United States. When this will happen, however, is unknown.
Should I even bother gambling online anymore?
That is a question that only you can answer, but remember…online gambling is 100% legal within the United States. The charges against PokerStars have nothing to do with the website itself or the way the poker tables were handled; it only challenges their deposit and withdrawal methods.
Why is the United States making such a big deal out of this anyway?
The US is not opposed to gambling; they are simply opposed to US players gambling billions of dollars each year and not being taxed on it. Since PokerStars is not based inside the US, the government can not tax them directly and they do not want players to gamble there. If they banned online gambling outright, however, it may be extremely hard to reinstate once they figure out how to regulate it and collect taxes from the industry. It really is that simple.
What deposit methods should I look for in the future to avoid this mess?
Ironically, the US is on the verge of completely legalizing poker within the United States and repealing the UIGEA, which is why so many gamblers are shocked at this entire ordeal. Until that happens, players should avoid websites that accept direct deposits or bank drafts from US players…any other method is fine.
What is the best site similar to PokerStars?
There are several great PokerStars alternatives available to players that adhere to US standards. Sportsbook Poker is one of our favorites because they've been catering to US gamblers for almost two decades now. Players Only is another solid option because they have among the best tournament play on the internet. Lock Poker is another website that our staff has taken a great interest in because they seem to get a wide variety of players that often bet very loose at the lower stakes tables.
Related Entries
Related posts:
PokerStars was founded by an Israeli senior programmer for IBM Canada, Isai Scheinberg. He began to write the software that would form the basis for PokerStars in the late 1990s and formed Rational Enterprises, originally based in Costa Rica, to operate his new poker site.
On September 11, 2001, the site was launched in beta version for play money only. A few months later, in December, the real money version was opened.
After a few years operating in Costa Rica, PokerStars announced a move to the Isle of Man, a British Crown dependency, in 2005. Scheinberg's decision to shift to this location was influenced by the 0% corporate tax rate and the island's policy to remove all bans on companies that were accepting poker bets from US players.
The site was granted an eGaming License by the Isle of Man Department of Home Affairs under its Gambling Regulation Act of 2001.
'The decision to relocate to the Isle of Man was unanimous,' said the Director of Communications for the site, Nola Dolla.
Online poker experienced a dramatic rise in popularity in the mid-2000s, and this can largely be pinpointed to one single event: Chris Moneymaker's victory in the World Series of Poker (WSOP) event in 2003.
Moneymaker was a full time accountant and part time poker player who enjoyed dabbling with the game in his spare time. Moneymaker entered a $39 satellite tournament at PokerStars and won himself a seat into a larger satellite. He went on to win that one too, earning entry into the WSOP. How old to gamble in a casino.
What happened after that was nothing short of miraculous.
Amateur poker players were suddenly flocking to online poker sites around the world, trying to emulate the rags to riches story of their new poker hero. PokerStars in particular benefitted enormously from what became known as the 'Moneymaker Effect'.
After Moneymaker's victory in 2003, PokerStars was on a roll in terms of WSOP qualifiers. A year later, the site qualified 315 players for the $100K championship event, 15% of the total tournament players. Spooky and cesar.
At the time, the Vice President for Marketing of PokerStars, Dan Goldman said:
In January 2006 the Scheinberg family enlisted NM Rothschild, a large merchant bank in London, to explore options for floating or selling the company. At the time PokerStars was valued at around $2 billion.
Potential buyers included the Rank Group and William Hill and there was also speculation that a merger could take place. It was widely believed that PokerStars would choose to float on the London Stock Exchange, following in the footsteps of some of its rivals such as PartyPoker.
Later in 2006, the UIGEA was introduced in the United States, making it illegal for financial institutions to process transactions from US residents that were related to online gambling. As a result, many gambling sites made the decision to pull out of the lucrative America market.
Those that were publically traded had no choice as they were answerable to their shareholders. As a privately owned company though, PokerStars could make its own decisions.
PokerStars declared that it would not be seeking its previously planned IPO in the near future. The flotation that had been planned for the spring of 2007 was delayed indefinitely.
What the heck happened to PokerStars?
Federal authorities have alleged that PokerStars (along with two other major poker sites) were violating the laws set forth under the UIGEA, which is the Unlawful Internet Gaming Enforcement Act. The website was temporarily seized by the US government to stop further criminal activity from taking place. Many top websites similar to PokerStars also faced the same type of prosecution.
What crime did PokerStars allegedly commit?
The US government has questions about the way that PokerStars and a few other websites have moved money back and forth from their online casinos. The UIGEA made it illegal for US residents to transfer money directly to poker websites, and it has been alleged that PokerStars employees bypassed these blocks by using deception. Birds on wire game. Other evidence suggests that PokerStars may have even gone as far as purchasing a US bank in order to transfer money without the government's knowledge. If these charges are in fact valid, then it is definitely time for players to start seeking a PokerStars alternative.
How long until the PokerStars website is back up?
What Happened To Pokerstars
That is almost impossible to answer since this matter will be handled by a court of law. PokerStars has denied the allegations and plans to contest the charges, so the website will likely remain down until a verdict is reached or some other type of agreement is made. If PokerStars is found guilty of all charges, it is possible that they will be blocked from all US IP addressed permanently. There are PokerStars alternatives available immediately though; see the bottom of the page for details.
What about my PokerStars deposits?
The US government has seized several US bank accounts that allegedly belonged to PokerStars and none of those funds will be released until after the trial. PokerStars has released a statement, however, saying that all deposits are perfectly safe. It is unclear at this time how or when players can access those funds.
Am I in trouble for gambling at PokerStars?
Absolutely not. The UIGEA simply prohibits online casinos and poker rooms from using US banks to transfer money. In fact, the document says nothing about the players at all; it only applies to the actual online casinos and poker rooms. Even if PokerStars is found guilty of violating these laws, the players are not facing any civil or criminal charges for gambling at that particular website. There is no legislation stopping players from seeking a PokerStars replacement or alternative.
I am not from the US. How does this affect me?
For now, the US government has actually seized the PokerStars website, which means that you can no longer access it from anywhere in the world. Once the government releases PokerStars back to the rightful owners, they should immediately open for business with gamblers outside of the United States. When this will happen, however, is unknown.
Should I even bother gambling online anymore?
That is a question that only you can answer, but remember…online gambling is 100% legal within the United States. The charges against PokerStars have nothing to do with the website itself or the way the poker tables were handled; it only challenges their deposit and withdrawal methods.
Why is the United States making such a big deal out of this anyway?
The US is not opposed to gambling; they are simply opposed to US players gambling billions of dollars each year and not being taxed on it. Since PokerStars is not based inside the US, the government can not tax them directly and they do not want players to gamble there. If they banned online gambling outright, however, it may be extremely hard to reinstate once they figure out how to regulate it and collect taxes from the industry. It really is that simple.
What deposit methods should I look for in the future to avoid this mess?
Ironically, the US is on the verge of completely legalizing poker within the United States and repealing the UIGEA, which is why so many gamblers are shocked at this entire ordeal. Until that happens, players should avoid websites that accept direct deposits or bank drafts from US players…any other method is fine.
What is the best site similar to PokerStars?
There are several great PokerStars alternatives available to players that adhere to US standards. Sportsbook Poker is one of our favorites because they've been catering to US gamblers for almost two decades now. Players Only is another solid option because they have among the best tournament play on the internet. Lock Poker is another website that our staff has taken a great interest in because they seem to get a wide variety of players that often bet very loose at the lower stakes tables.
Related Entries
Related posts:
PokerStars was founded by an Israeli senior programmer for IBM Canada, Isai Scheinberg. He began to write the software that would form the basis for PokerStars in the late 1990s and formed Rational Enterprises, originally based in Costa Rica, to operate his new poker site.
On September 11, 2001, the site was launched in beta version for play money only. A few months later, in December, the real money version was opened.
After a few years operating in Costa Rica, PokerStars announced a move to the Isle of Man, a British Crown dependency, in 2005. Scheinberg's decision to shift to this location was influenced by the 0% corporate tax rate and the island's policy to remove all bans on companies that were accepting poker bets from US players.
The site was granted an eGaming License by the Isle of Man Department of Home Affairs under its Gambling Regulation Act of 2001.
'The decision to relocate to the Isle of Man was unanimous,' said the Director of Communications for the site, Nola Dolla.
Online poker experienced a dramatic rise in popularity in the mid-2000s, and this can largely be pinpointed to one single event: Chris Moneymaker's victory in the World Series of Poker (WSOP) event in 2003.
Moneymaker was a full time accountant and part time poker player who enjoyed dabbling with the game in his spare time. Moneymaker entered a $39 satellite tournament at PokerStars and won himself a seat into a larger satellite. He went on to win that one too, earning entry into the WSOP. How old to gamble in a casino.
What happened after that was nothing short of miraculous.
Amateur poker players were suddenly flocking to online poker sites around the world, trying to emulate the rags to riches story of their new poker hero. PokerStars in particular benefitted enormously from what became known as the 'Moneymaker Effect'.
After Moneymaker's victory in 2003, PokerStars was on a roll in terms of WSOP qualifiers. A year later, the site qualified 315 players for the $100K championship event, 15% of the total tournament players. Spooky and cesar.
At the time, the Vice President for Marketing of PokerStars, Dan Goldman said:
In January 2006 the Scheinberg family enlisted NM Rothschild, a large merchant bank in London, to explore options for floating or selling the company. At the time PokerStars was valued at around $2 billion.
Potential buyers included the Rank Group and William Hill and there was also speculation that a merger could take place. It was widely believed that PokerStars would choose to float on the London Stock Exchange, following in the footsteps of some of its rivals such as PartyPoker.
Later in 2006, the UIGEA was introduced in the United States, making it illegal for financial institutions to process transactions from US residents that were related to online gambling. As a result, many gambling sites made the decision to pull out of the lucrative America market.
Those that were publically traded had no choice as they were answerable to their shareholders. As a privately owned company though, PokerStars could make its own decisions.
PokerStars declared that it would not be seeking its previously planned IPO in the near future. The flotation that had been planned for the spring of 2007 was delayed indefinitely.
Pokerstars Play Money Site
The company made a strategic decision to continue serving North American players, filling the niche left in the US market by so many poker sites leaving.
It would face consequences for remaining active in the US in later years though.
No history of PokerStars would be complete without a mention of the World Championship of Online Poker (WCOOP). This was launched by PokerStars in 2002 and has grown to be the biggest online tournament series in the world.
What Is Pokerstars
Below is a brief timeline of how this competition has evolved over time.
- 2002 – The first WCOOP began offering nine events and $730,000 in prize money.
- 2003 – Eleven events were offered, drawing the crowds who wanted to see WSOP winner Chris Moneymaker in action. A total of $2.7 million in combined prize money was up for grabs.
- 2004 – An extra event was added to this WCOOP, and prize money reached $6 million.
- 2005 – Prize money during 2005 was doubled to $12 million, and 15 events were scheduled. Nearly 20,000 took part.
- 2006 – Eighteen events ran during WCOOP 2006, with $18,700,000 in prize money.
- 2007 – This year saw the introduction of short-handed tournaments for the first time. $24 million in prize money was available to more than 40,000 players who took part in the 23 events.
- 2008 – Just under $40 million in prize money was offered over 33 events.
- 2009 – This year's event broke the record as the biggest online tournament series staged. Players from 140 countries took part in 45 events over the course of 18 days to compete for the prize pool of over $50 million.
- 2010 – More records are beaten and over $63 million in prize money was paid out in 62 events taking place over 23 days.
- 2011 – The Main Event featured over 1,600 players and a first prize of $1,260,018.
- 2012 – The number of events was up to 65 and over $55 million in prize money was awarded.
- 2013 – Prize money was back up to over $60 million and a total of 66 events took place.
On April 15, 2011, the PokerStars website was shut down by the US government, along with other poker sites still serving the US market. PokerStars had no choice but to suspend its poker services for US customers, although it remained open in other regions.
Microsoft excel software for pc. This day became known as Black Friday in the online poker industry. On April 20, PokerStars reached an agreement with the Department of Justice to regain use of their website in order to distribute account funds to there US customers.
PokerStars began to pay out funds to US customers almost immediately and, the following year, the company reached an agreement with the American government.
They admitted no wrongdoing for its past activities in accepting US customers and it was acknowledged that they would be able to apply for licenses to operate in the US once the necessary legal framework was in place. As part of the agreement PokerStars purchased the assets of its previous competitor:Full Tilt Poker.
My Pokerstars Account
Today, despite no longer operating in the United States, PokerStars remains the largest poker website in the world. It's already active in attempts to legally return to the US as the nation begins to regulate online poker.
