After black friday hit the poker world it almsot destroyed the poker world, many full time pros in USA lost all their income, many say it’s their own fault, after all the government said they don’t want people playing online (although it was still technically legal). Many pros have sinced moved to more legal countries such as Canada and Mexico.

Caereus which owned Ultimate bet and absolute poker never recovered, they were charged with money laundering and bank fraud in order to proces transactions of american customers. Several years prior Ultimate bet was involved in the biggest scandal in online poker history as it was revealed employees at the site built in a backdoor to the software allowing certain players to see everyone hole cards. So losing such a scummy site was no big deal really, I’m just sad they didn’t get shut down sooner.

Black friday also revealed full tilt poker to be running a ponzi scheme, it turns out they were happily taking deposits from players but had no way of paying out all their players, all the while owners such as howard leder and chris ferguson were taking millions in paycheques each month while giving huge bacnrolls to their poker buddies to play high stakes poker with no regard for the actual money they were playing with!

The only site to come away from this unscathed was pokerstars, they were down for 2 weeks but recovered, in the end they ended up buying full tilt poker and repaid all the money owed to players! unfortunately pokerstars has since been bought buy amaya, a shady  company I will go in to more detail at another time,