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18

No huge overlay tournaments/series to expect

Tags: f.b.i. USA, full tilt poker, overlay, pokerstars.
Posted on 18 April 2011 by "T".

Last Friday, the terrible news that the world's 2 largest poker sites (and Absolute Poker) had been blocked in the US (due to suspicion of bank fraud, illegal gambling offenses and laundering millions billions in illegal gambling proceeds) dropped down like a bomb and left no one untouched.

However, not everyone (mostly non-US residents) were so disappointed at first as they thought the situation would create huge overlays in the biggest guarantee tournaments and tournament series. But (as we all know now) they ended up quite disappointed.

As expected, PokerStars and Full Tilt Poker were forced to reduce the prize pools in their biggest guarantee tournaments and tournament series. For example, the Full Tilt Poker Online Series XX (FTOPS) got its prize pool reduced with $2 million and PokerStars changed the Sunday Million prize pool to $1 million (usually $1,5 million). 

Related news: PokerStars, Full Tilt Poker & Absolute indicted!

 


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17 comments for "No huge overlay tournaments/series to expect"

 Davoodoo18/04/2011 12:16:37 GMT
Yup, when the eagle sets its claws in the prey theres nothing you can do ...
 dozn0118/04/2011 12:27:42 GMT
i think that most players might jump ship and start playing back at ipoker network,
at least you know where you stand playing there with the prize pools,
 schmoyster18/04/2011 12:56:54 GMT
Posted by dozn01:
i think that most players might jump ship and start playing back at ipoker network,
at least you know where you stand playing there with the prize pools,

There are some players that will not go to Ipoker even if it is the only room/network available Blink
 Hajinnho18/04/2011 13:39:09 GMT
too bad but I never play such big tournaments anyway. So as a lowroller I would say there are still people with profits because of overlays if only the highroller tournaments are redcued.
 Fakiry18/04/2011 13:46:03 GMT
People cant complain that much about the reduced prizes, i think they were good in the same. Perhaps, once they all payed expecting one think, they could see the buy-in reduced in a symbolical value, now transfered into all players acount. This is just an idea.
 jessthehuman18/04/2011 14:16:54 GMT
I'm pretty sure there were overlays in the first few hours after it happened, I was reading 2+2 as the story broke and people were reporting overlays.. But shortly after that everyone had the same idea + I think people were excited and wanting to log on and all the games met the GTDs.. After that obviously the rooms then had time to adjust them.
 GIOMi618/04/2011 16:07:19 GMT
It is nice to read that there weren't any overlay tournaments, otherwise the pokerrooms would be in big financial problems in my opinion.
 Hajinnho18/04/2011 17:18:38 GMT
what? As far as I know PS has incomes in around 1.5 billion dollars a year (I don´t know the correct terms in english. What I mean with income is that their costs aren´t in that)

That at least is the number of bucks I found on the web.
So I dont think Pokerstars will get into financial trouble because they once need to pay some overlays... because let´s be honest: mostly their big tournaments were full enough anyway so there were no overlays.
 Macubaas18/04/2011 17:39:48 GMT
This was really a earthquake in the world of online poker for sure. Many non us players thought that everything will be the same from now on. It was clear they'll be a bit dissapointed that the largest sites, PokerStars and Full Tilt Poker were forced to reduce the prize pools in their biggest guarantee tournaments and tournament series because of the low number of players registered.
Now i really hope that all US palyers will be able to cash out and get their money back. As you know all non US players can cash out already so for those everything is normal. I think it's possible that some us high stakes to move to europe for good. Lets hope everything will work out good eventually.
 Niklas9118/04/2011 18:46:12 GMT
I definitely agree with Macubaas.. One of the bigger concerns about this whole episode is about all the US players, and the possibility of them not getting their money back..
 blade198418/04/2011 19:00:46 GMT
the US players will get there money but it will be a long time before they see it and it will be even longer if ever that the USplayer will be able to play online poker at thoses site ever again
 SuperNoob18/04/2011 20:03:31 GMT
it was bound to happen, dnt think poker sites are too dumb to lose that much money cause of overlays. as soon they noticed they changed it, surely prizepools will not be same with US players gone. so rest of ppl are losing too in this
 jannikske18/04/2011 21:53:49 GMT
you know this would happen...
 Flippedchips18/04/2011 22:12:47 GMT
there is still quite a few tourneys with over lays on pokerstars but i dont think it was like everyone thought it would be, the bigger ones have been ok. about going to ipoker there is no way pstars still has the most people playing most tourneys and best for sngs. the americans are a big loss but still 195k people on pstars just now
 xxxYUMIxxx20/04/2011 14:07:51 GMT
guess they aren't that stupid afterall...
 IslandJack20/04/2011 14:30:21 GMT
I´m not so sure that US players will get their money back.
If you read the "FBI and DOP" message on the seized domains, it clearly syas that all online gambling is illegal, and that anyone can be prosecuted.

So it seems to me they can seize all illegally gained profits (bankrolls).
I could interpret this wrong, don´t know...
 Btownd8720/04/2011 14:36:36 GMT
Full Tilt is headquartered in Canada, so the FBI and Department of Justice have no jurisdiction over them if you ask me.

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