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Some
Facts About Poker Black Friday
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Do you want to gather
sufficient information about poker
black Friday? Do you know why this
day is of so much significance in
the poker industry? Everyone who
loves poker or who is enthusiastic
about poker games is very
well-aware of Poker Black Friday.
Poker Black Friday dates back to
April 15, 2011 when the three
principals of the leaders of the
poker industry were charged by the
United States Department of
Justice for being fraud and
illegal entities who were involved
in illegal and misconduct business
behaviors.
Still, people can recall the day
“Poker Black Friday” with utmost
clarity as it was the black day
for many people and the day have
been marked down in the history of
porker. April 15, 2011 is known by
many experts as the beginning of
new era for poker industry. On
that day, three well-known
entities i.e. Full Tilt Poker,
Poker Stars and Absolute Poker
were charged by the United States
Department of Justice for
allegations of illegal gambling
offences, laundering huge amount
of money which went up to billions
of dollars in the illegal
proceedings of gambling and bank
fraud as well.
When the court took the action
against the three principals who
were the leaders in the poker
industry, the whole picture of
poker changed as the internet
domains used by Full Tilt Poker,
Absolute Poker and Poker Stars
were seized. The bank accounts of
all the three principals of the
poker entities were frozen, which
they were using for their
operation and payment processes as
well. After such action by the
court, all the three operators
banned all their players’
especially American players from
their sites and froze all their
money accounts.
For most of the people, the arrest
of the owners of the online poker
sites was a shock and the poker
community named that day Poker
Black Friday. However, many
well-known personalities of the
poker industry agree that FBI took
the right step as the owners were
trying to wrap things up so that
they cannot get caught. Most of
the leaders in the poker industry
were aware of the investigation
happening in the New York
regarding the payment processors
in relation to the relationship
with the websites of the poker.
The arrest of the owners was a
huge shock and it happened so fast
that it significantly impacted the
flourishing industry of United
States.
The closing down of the three
large online poker websites
significantly affected the poker
industry as all three of them
collectively had 95% of the market
share for poker players in USA.
After the disappearance of the
sites, the market share was lost
and so was $200 million worth of
money for marketing and
advertising as these companies
spent such amount of money to
attract more customers. Hence, the
entire scenario of the poker
industry changed and the entities
that existed at that time had to
face lots of difficulties to bring
the market back on track.
Currently, the online poker
business is down and it will take
time for the whole industry to
recover and gain customer’s
confidence.
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