Former Absolute Poker and UB players received an unexpected surprise earlier this year when the U.S. Attorney’s Office announced a remission process for former players. Now thousands have players will receive over $33m in total compensation.
Garden City Group is in charge of the process and is collecting remission petitions at Abso-lutePokerClaims.com. Last week, GCG announced the first group of scheduled payments will soon be released.
GCG announced the first round of payouts to former AP/UB players for petitions collected through June 9, 2017. Approximately 7,400 players will be paid during the first round with total payments of nearly $33.5 million.
If you’re a former player that has filed a remission petition, check your email over the next couple of weeks. Players who have been approved for remission will receive an email detailing the amount they will be credited along with the method of payment.
Those wishing to have their funds via Direct Deposit must submit their banking details to GCG. Details for completing a banking transfer will be included in the email.
Where Did The Money Come From?
It’s no secret that the parent company of AP/UB went bankrupt following Black Friday and did not have the resources to repay former players. The majority of players assumed they would never be repaid, making the recent remission process a complete surprise.
The AP/UB remission process comes courtesy of the settlements between PokerStars and the US Department of Justice. Part of the $731 million settlement was funds earmarked to repay Full Tilt Poker players. US players were repaid via remission petitions with GCG.
GCG did not use up the funds provided via the settlement and most assumed that the government would merely absorb the funds. Instead, the DOJ is taking the leftover funds and using them to repay former AP/UB players.
Remission Process Ongoing Until Sept. 7
If you’re a former Absolute Poker or UB player who believes they have a balance and haven’t yet filed a petition, time is running out. Garden City Group is accepting applications for remission until September 7, 2017.
Just head over to AbsolutePokerClaims.com to begin the petition process. All you need is your last name, your former AP/UB username and the email you used at the site. During the process, you’ll be presented with the balance they have on record. You can either accept that balance or you can provide records to prove what you believe the balance should be.
Note that your available balance will be what was in your account the day the websites shut down, not your balance on April 11, 2010. Even if you have a balance as small as $20, you can still file a petition.
The AP/UB remission process is an unexpected surprise that will finally allow the remainder of Black Friday players to receive their funds. Granted, it took over six years for players to be repaid, but for some players a six-year wait is better than never receiving their former bankrolls.