Garden City Group (GCG) are the deliverer of good news, as they inform ‘professional players’ of Full Tilt Poker (FTP) that they are eligible to submit their petition for remission to recover lost funds.
It’s a good day if you are a former U.S player of FTP, after the GCG issued a notice on the FTP Claims Administration website, that confirmed that professional poker players of FTP would be eligible to submit their petition for remission to recover their lost treasure.
“Notice to professional players of Full Tilt Poker”
It has been determined that players designated by Full Tilt Poker (“FTP”) as “professionals”, other than Team Full Tilt Players, will be able to submit Petitions for Remission to recover the portion of their account balance that is not attributable to compensation provided by FTP or Affiliate revenue. If you are a professional player, you will be able to submit a Petition for the portion of your account balance that relates to poker transactions, as long as you meet the eligibility criteria.
So what does this mean in English?
Well, effectively, it means that players who were formerly known as ‘Red Pros’ or ‘Friends of FTP,’ are now eligible to join the petition for remission process that has seen close to $100m returned to US victims since payments started hitting desolate looking bank balances back in February of this year.
It’s important to note that the news means these players can withdraw funds relating to poker playing activities only. Money earned through affiliation methods, or direct payments from FTP for services rendered, are not eligible for recovery. Thanks to clarification from the US Department of Justice, ‘rake back’ is not deemed to fall under the category of ‘professional compensation’ and is therefore eligible to be claimed.
Players who fall into these categories have until Wednesday, September 3, to file their petitions for remission, and information on how best to do this has already been sent to each player via e-mail by the GCG team.