Negreanu Discusses the PokerStars Settlement Deal

Negreanu Discusses the PokerStars Settlement Deal August 10, 2012 August 13, 2012 Tim Glocks
Posted on  Aug 10, 2012 | Updated on  Aug 13, 2012 by Tim Glocks

The recent deal between PokerStars and the US Department of Justice or the DoJ has been creating many ripples in the online poker community. The first effect being the immediate relief of all those players and stakeholders of the Full Tilt Poker site who had invested their hard earned money into the site. Now that players can get their money back, there is more optimism among American players.

Daniel Negreanu, one of the well known and more outspoken players of the poker community was asked about his views on the situation. His views echo the general opinion of the public and also provide an insider outlook. When asked about what he thought of the new deal inked between PokerStars and the US Department of Justice involving Full Tilt and what a difference the PokerStars site was making, he responded positively. “Yeah, it makes me feel proud, and it makes us feel good for representing such a quality brand. So, yes, in this case, PokerStars does make the players look good,” he said.

Negreanu was also asked by Bluff Magazine recently regarding what he thought about the reimbursement process for players from Full Tilt Poker by representatives from Bluff Magazine. He was asked if he thought it was a test run to acclimatize the US poker players to moving through government authorization procedures of getting their money. Negreanu replied to this stating,

With the DOJ handling paying back the funds, you’re going to have to most likely apply for your money back. Your tax receipts are going to be scrutinized a little more closely, and they’ll have records to show the validity of what you’re saying you’re paying and what you aren’t. I think if the U.S. gets regulated you’re going to have to get used to a lot more infringements on the ease that we have had in online poker over the years.

Negreanu also expressed his opinion that the recently finalized deal is independent of the move to legalize and regulate online poker in the US. Stating that the DoJ has nothing to do with lawmaking, he said that a number of organizations and individuals are lobbying for online poker legalization, which means that US online poker might become legal within the next few years.

As per the new deal PokerStars will be paying the US authorities $731 million for the US poker brand of Full Tilt Poker and will be slowly paying back players.

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Tim Glocks is a retired professor, he currently contributes to Tim enjoys playing poker and has taken it up as a hobby since his retirement. He has taken part in many online tournaments and has become a veteran in a short space of time. Visit Tim’s google + page here