In 2006, Absolute Poker was the second-largest online poker site in the world. But by 2011, the company was bankrupt and its domain name had been seized by the US government. So what happened?
Absolute Poker was founded in 2003 by Scott Tom and Brent Beckley. The company quickly became one of the most popular online poker sites, second only to PokerStars.
In 2006, Absolute Poker was processing $1.4 million in deposits per day and had over 60,000 active players.
PRO TIP:Absolute Poker was a popular online poker site that ceased operations in 2011 after being accused of cheating its players. It is believed that the site was involved in a “super user” scandal, where certain players had access to information about their opponents’ cards. To avoid anything similar from happening, make sure to do your research and only play on sites with a good reputation.
But then, in 2011, everything came crashing down. On April 15th (dubbed “Black Friday” by the poker community), the US Department of Justice indicted Absolute Poker for money laundering and bank fraud.
The company’s assets were frozen and its domain name was seized.
Absolute Poker was unable to pay its players back, and many were left owed hundreds or even thousands of dollars. The company filed for bankruptcy in 2012, but its former customers are still waiting to be reimbursed.
So what happened to Absolute Poker? In a nutshell: bad business decisions, shady practices, and a whole lot of money owed to customers who will likely never see a dime of it.
5 Related Question Answers Found
Online poker was once a booming industry, attracting millions of players from all corners of the globe. However, over the years, the online poker landscape has changed dramatically, leaving many wondering what happened to the game they once loved. One of the major reasons for this decline in popularity is the changes in legislation and regulation.
What Happened to True Poker? True Poker is an online poker room that has been in existence since 2001. It was one of the first online poker rooms and had a good reputation in the industry.
In the early days of online gambling, before the industry was regulated, a number of poker sites emerged to cater to a growing demand for online poker. One such site was Ultimate Poker, which launched in 2013 and quickly became one of the most popular online poker sites in the United States. However, just two years later, Ultimate Poker ceased operations and closed its virtual doors.
Sky Poker was once a popular platform for poker enthusiasts. It was a part of the larger Sky Betting and Gaming company that offered services in sports betting, casino, and poker. However, in 2020, the platform underwent significant changes that resulted in an uproar from its users.
Ivey Poker was a popular online poker training site that was launched in 2014. The site was named after the famous professional poker player, Phil Ivey, who was also the face of the brand. The aim of Ivey Poker was to provide players with high-quality poker coaching and training resources so that they could improve their game and become better players.
