There was a time in the U.S. when online poker was thriving and companies and affiliates were doing exceptionally well. There were not many restrictions imposed on online gambling companies, the market share was constantly increasing and online poker looked like it had a big future in the U.S.
However, there were a number of fraudulent deals taking place and leading the pack was a poker company called Ultimate Bet. During 2005-2007, Ultimate Bet was accused of cheating players and using illegal software code that would transfer hole-card information of other players to the perpetrators during play. The company admitted to running an illegal operation and was soon shut down.
Online poker players all across the U.S felt extremely betrayed as many of them had invested both time and money into Ultimate Bet. One of the reasons that Ultimate Bet was such a popular online poker website was because it got endorsed by some of the biggest names in the poker world. Phil Hellmuth, Annie Duke, Joe Sebok and Prahlad Friedman recommended Ultimate Bet and when it went down, all of these high profile poker professionals claimed that they had no idea what was going on behind the scenes.
Now, a new documentary entitled ultimatebeat will look to cover the entire story about Ultimate Bet. The documentary is being produced by Doublehead Pictures and will be directed by Scott Bell who has been studying the Ultimate Bet inside fraud for the past few years. The documentary will be detailed and look at how the fraud was planned and executed successfully.
Speaking about the documentary, a representation stated
The story tracks an intersection of old school hustlers and technology during the ‘poker boom’. After successfully launching a popular site, a group of insiders used software access to defraud players over a period of years without detection. When discovered, they went to great lengths to cover-up the crimes in order to repay less than the amount stolen. Nobody was ever investigated, arrested, indicted or prosecuted for the crimes. The subtext is how a small group of players crowdsourced an online investigation to force the site into repaying far more than they intended, if not fully.
Bell managed to finance this project by teaming up with other professional poker players as well as using Kickstarter to raise awareness of his project. The documentary is scheduled to be released on the 22nd of October via Video on Demand format and more details will be provided on how one can obtain the documentary.