UltimateBet Poker Network Shuts Down
In August 2010, Blanca Games purchased the assets of the Cereus Poker Network from Tokwiro Enterprises. This internet poker network, which also included Absolute Poker and Ultimate Bet, has become insolvent. With the finish of the Cereus Poker Network, players are no more in a position to process their withdrawals or make deposits. The business has since turn off its remaining websites. However, it really is unclear when and if it’ll resume processing player withdrawals.
In order to continue operating, UltimateBet had to undergo several shell games and sell its gambling license. The business was founded by Jon Karl and Greg Pierson before the internet poker boom hit the U.S. in the late 1990s. However the failure of UltimateBet came as a large surprise to investors, because the company was unable to meet up with the demands of its investors. They ultimately made a decision to sell the website to a private equity firm.
In the aftermath of the collapse, UltimateBet was forced to refund thousands of players who lost money playing online poker. This was because of the fact that players were being cheated out of winnings in these events. The company was able to overcome this issue by acquiring a gaming license from the Kahnawake Gaming Commission. Even though company was not able to get the necessary license to use in NJ, the parent company, ieLogic, is working on developing its own software platform.
While the closure of UltimateBet has been controversial, it had been still a major loss to the poker community. Despite the scandal, it was a part of the right direction for the industry. The site was setup by a group of secretive high stakes players who had invested in Excapsa and iovation. The companies are also accused of shady business practices. In December 2010, Hellmuth resigned from the company. In January 2003, the company transferred its operations to Absolute Poker and iovation was spun off.
During the investigation, UltimateBet found 18 suspicious player accounts. A particular account called “NioNio” was used to create high-limit games accessible to players. The web poker site then found a lot of fraudulent accounts with different screen names. Furthermore, the poker community collected evidence that resulted in the kahnawake Gaming Commission’s fine. As the lawsuit contrary to the poker site had not been successful, it was a substantial blow to the poker community.
Until recently, UltimateBet was a favorite online poker site in the usa. It was the official World Series of Poker site and was licensed in the usa. The company was also recognized to have a high level of transparency. Despite the scandal, the company was aware of the cheating in advance. The poker website even banned NioNio’s account. Fortunately, the poker site has removed the e-mail.
It really is difficult to say whether the UltimateBet poker site is still in business today. Its success is based on its capability to attract and retain players. Its reputation for fair play is unmatched in the industry, and its own reputable software has helped the website stay profitable since 2001. Along with offering tournaments that feature world-class poker pros, the UltimateBet website also offers a Sunday $200k guaranteed game. If you’re looking for 카지노 신규 쿠폰 a spot to play poker, have a look at its website!
UltimateBet also offers a great experience because of its members. Its table is well-designed, with user-friendly features, including a note-taking function and a chat box. Its tables can be found in a multitude of limits and stakes. The games on UltimateBet vary based on the time of day and the amount of competition. In the WSOP, it has sent members to call home tournaments. This program has five tiers: Gold, Platinum, and Platinum.
In August 2010, Joseph Tokwiro Norton acquired Exscapa Software, an organization that focused on massively multiplayer online role-playing games. He merged the site with Absolute Poker, and both companies have since been portion of the same management team. As the UltimateBet site was a successful poker site, it had been not without controversy. The former Grand Chief of Kahnawake Gaming Commission, Pierson, and Tokwiro, Jr., founded the company.