$6 million prize pool for a measly buy-in, and the latest on the Full Tilt fallout.

Mar 11 2012 |

Full Tilt apologyFirst, Full Tilt, and a look at the statement made by Ray Bitar. For those of you that used to play poker online, you probably know Ray Bitar.  If you never played online poker, don’t worry, just keep reading.

Bitar is the CEO of Full Tilt Poker. Since Black Friday (a reminder for those who forgot: that was April 15, 2011) , Full Tilt has not released a single statement about where their online players’ money is/was and when/how/if people would get it back.  For me personally, this only meant a loss of a few $$ in spare change as I wasn’t a huge fan of their setup, but some of my friends have tens of thousands of dollars locked up.  People have been wondering about their money for nearly a year now, and it doesn’t take much Google searching to find out how pissed people are at Full Tilt.

Last week Bitar made a statement to PokerStrategy.com about why there were no updates. He basically said that for almost a year there were no updates due to legal proceedings and because he was working day and night to get the players the money back. While some see this as a positive step to acknowledging the problems Full Tilt is facing, others have noted that the apology said nothing that could not have been said before last week. Essentially, the statement was just about as empty as Full Tilt players’ accounts. Many are left wondering what the next step is, if the apology is genuine, and how long the process is going to take.

Now, onto the poker site that has weathered Black Friday in quite the opposite direction of Full Tilt. We are of course talking about PokerStars, and yesterday saw them celebrating yet again with a huge tournament. This time it was time for a Sunday Million that was transformed into a Sunday SIX Million. You read right! $6,000,000 was there on offer with just over $1,000,000 going to first place. Nearly 4,000 players are getting paid out of the 30,000 players who entered the tournament.

Just to put those numbers in perspective.... There are five times as many people playing this weekly tournament right now as there are players in the main event of the WSOP. There is just as much money up for grabs for first place as one could win finishing 8th in the WSOP. And, to cap it all off, the entry fee is $215 instead of $10,000.

This shows the world that big pots in online gaming can still be achieved even without a U.S. presence, and it looks like PokerStars is surviving the loss of the American market just fine. I can only imagine what kind of extravaganza PokerStars is going to throw when they deal their 100 billionth hand in just a few months. I can imagine PokerStars making everyone a VIP for a day, or just plain giving away crazy amounts of free money. If you are in the U.S. and don’t want to miss out… I hear the weather in Rosarito in pretty nice this time of year, or you can always go to Montreal or Vancouver to play your daily dose of online poker.

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