Full Tilt Poker announces return to the USA online poker market

[Alan Mendelson]

It's going to be a very competitive online poker market in the USA now that Full Tilt Poker has announced its return to the USA market. Of course it won't be a "for money" site but a free to play site similar to what several brick and mortar casino companies in the USA have operating now including South Point casino in Vegas, Hustler Casino in LA, and Cafrino.com which is independent of any brick and mortar casino ties but is offering a free site on its own.

The reason why the companies are all offering free sites now is obvious: they are getting ready for the likely federal or state action that will legalize online poker. By offering free to play sites now, these online companies will be establishing their brands for the day when they can start taking deposits and allow players to win -- and lose -- money online.

Full Tilt Poker will start operating its new site in the USA in November according to an email sent to former USA account holders. Here is the complete email:

As a player on Full Tilt Poker, you may be aware of the recent settlement reached with the U.S. Department of Justice (the "DOJ").

Full Tilt Poker will not offer real money online poker in the U.S. until it is permissible to do so under relevant law.

In relation to your account balance, you will have the opportunity to file petition with the DOJ through a remission process which will be administrated by the DOJ.

In light of the above, only play chip games will be available to Full Tilt Poker players in the U.S. following re-launch, in the first week of November, 2012. Your Full Tilt Points balance will remain intact in your account.

Please note that we are unable to answer queries in relation to your funds - all such questions should be directed to the DOJ in accordance with the procedure to be defined by them.

Please retain this email for your records.

Sincerely,

Full Tilt Poker

[regnis]

Of course, be careful as the Republicans want to outlaw on-line gaming of every nature and kind, including poker and horse racing. Why they just don't tax it I'll never know.

[Alan Mendelson]

Why they just don't tax it I'll never know.

Of course this is why various states are now taking action to have intrastate online gambling. Nevada and California and some other states are pushing for intrastate legislation which would be legal under existing federal laws.

Now here's the rub: California would do quite well with an intrastate online poker or casino industry. Nevada would not because that would force its own residents to split between the casinos and staying at home. The reason way Nevada wants the online casinos legalized is that its casino companies are ready to step in to run the online networks around the country.

Allowing online gambling in Nevada would allow the Nevada brick and mortar casino companies to prove their online abilities and to dominate a national market. MGM and Caesars are ready to go. Only Las Vegas Sands might put up opposition to it. But those guys inside LVS are not "with it" when it comes to the Internet, and I can say that with authority because about six years ago I was talking to them about running their website operation. When I told them what they needed to do to compete in the Internet in the next few years I got a bunch of blank looks. What did I tell them? Everything you see now including video, shopping portals, interactive, practice gaming, retailing. It's obvious the corporate culture at LVS is not in tune with the web.

[regnis]

Sheldon Adelson somehow stumbled his way to a net worth of about $25 billion (down from the 30's b4 economy tanked).

Amazing as I believe what you are saying.

[Alan Mendelson]

LVS is making its money in Asia. It is not a significant player in the Nevada market at all. Same with WYNN but Wynn is entering Asia late.