The remissions process for Americans seeking to claim their balances from the old Full Tilt Poker has begun, with just a small percentage of U.S. players making claims on their money so far.
Garden City Group — the claims administrator for the U.S. Department of Justice for Full Tilt remissions — released an update on a special website started to handle Americans’ claims. Here is the update:
We are pleased to report that the Remission Process is now well underway. All told, GCG has sent over 1.4 million email notifications to Full Tilt Poker (“FTP”) players, and in response GCG has already received over 23,500 Petitions through the online filing system.
The email notification process is now complete. If you did not receive an email and you believe you are in Full Tilt’s database and should have been identified as a potentially eligible player, please contact us to provide your updated email address and we will provide you with your Petition and Control numbers if you have been assigned them. To the extent GCG has been provided with physical mailing addresses, we will be sending postcards to Petitioners whose emails were returned as undeliverable in the next few weeks.
No one is prevented from filing a Petition for Remission. If GCG is unable to provide you with a Petition and Control number, you may still file a new Petition by clicking here and then clicking on the “Create a New Petition” button. All Petitions—confirmed, disputed and new—will be reviewed after the filing deadline, using the Department of Justice criteria to determine eligibility for remission.
According to the numbers released by GCG, less than 2% of eligible Americans have filed petitions to reclaim their money. That’s led to speculation about why the petition numbers are so low:
—It’s still early in the process: The petition process just opened in September, although the window to file a petition closes in about five weeks, on Nov. 16.
—Procrastinating: Although players are eager to get their hands on their money, they might figure that there’s no reason to rush the petition process.
—Amounts aren’t worth petitioning for: While some Americans might have thousands of dollars locked up from Full Tilt, there are likely lots of players with very small amounts in their accounts. Those players might figure it’s too much trouble to file a petition for a few dollars.
—Tax concerns: Some players might think that putting in a claim for Full Tilt Poker money could result in opening a Pandora’s box as far as tax liabilities regarding online poker. Here’s a great guide on the remission process, including some tax information, if you need some help.
American players are still owed approximately $150 million from the old Full Tilt Poker, before it was taken over by the parent company of PokerStars, Rational Group. Rational forfeited $547 million dollars to the United States Department of Justice in 2012, and a portion of those funds are being used in the remission process. In a previous update, GCG noted that the remission process “will be based on players’ final balances with FTP as of April 15, 2011.”
For more information, or to make a claim, visit the official claims website here.