Rakeback.com - Don't play poker without it
 

DOJ Likely to Sell Absolute Poker’s Assets

By , Rakeback.com Poker News Editor

On Tuesday, the biggest news in the poker world was that PokerStars, the world’s largest online poker room, purchased the assets belonging to Full Tilt Poker. In turn, players at Full Tilt will have their account balances refunded at some point in the future.

There was another significant story that happened on Tuesday, however. The US Department of Justice (DOJ) filed a motion to sell Absolute Poker‘s assets.

The assets, which include all domain names, hardware, intellectual property, funds on deposit, and receivables at Absolute Poker, Ultimate Bet, and several shell companies, would be sold in an interlocutory sale. This means that the proceeds of the sale would stay in the hands of the government until a court determines where they should be sent.

Will players receive that money?

While it is possible that players can eventually receive a share of the money collected from the interlocutory sale, there are other entities which have claims on the assets first.

The first claimant is the state of Kentucky, which believes it is the rightful owner of all 3 domain names associated with the company (AbsolutePoker.com, UltimateBet.com, and UB.com). The reason for their claim is because they seized those domains in the past.

The second claimant is a Portuguese company called “Avoine – Servico De Consultadoria E Marketing, LDA”. Avoine believes it is the rightful owner of all AP/UB assets because it acted as a shell owner of those companies, but it claims that it was unaware of the illegal activity at them. The DOJ has already filed a motion to strike their claim.

If Avoine doesn’t receive those assets and no new claimants enter the picture, then players can potentially receive some money. Unfortunately, it seems highly unlikely that the proceeds from the sale can match the total amount of player liabilities, so players may only receive a small percentage of what they’re owed.

How Much Cash Back Will I Earn?

Rakeback increases your winnings from online poker as you continually earn money back from every raked hand or tournament you play.

Many players earn a living wage from rakeback alone. Use the calculator below to estimate the size of payments you’ll get over a given period of time. The calculator will compute your expected daily, weekly, and monthly cash back depending on the stakes and tables you input.

Calculate Your Rakeback
$125
Hourly
$998
Daily
$17,472
Monthly
$174,720
Yearly

Top Poker Room Recommendation

  • 30% Rakeback
  • Sign-up Bonus
  • Bonus Code: RAKECOM

Download

Popular

  • 11 Online Poker Tools to Boost Your Winrate

    August 20th, 2015

    First up, you probably know them already – PokerTracker and Holdem Manager are by far the most popular poker tools – but may not have heard the two companies recently merged.

    Read more…

  • Where are the Softest Poker Games Online in 2017?

    April 26th, 2017

    “I shouldn’t say this on a poker forum but sng 2.0 acr is about as free money as I’ve seen in poker in a long time. Not sure how long it’s going to last but right now as it’s new people r punting hard.”

    Read more…

  • Lottery Sit & Gos – Where to Play

    August 20th, 2015

    A mixture between tournament poker and gambling, the ‘Lottery Sit and Go’ format is popular with recreationals and regs alike – attracting net depositing players

    Read more…

  • Fast-Fold Poker – The Fastest Poker Online

    January 7th, 2015

    Many of Rakeback.com’s partner sites offer Fast-Fold format poker tables. These high speed poker games eliminate the need for table selection and allow players to grind many more hands/hour thanks to a ‘quick fold’ option. This in turn boosts rakeback earnings.

    Read more…

 
© 2015 Rakeback.com