US Poker Pros Now Face Unemployment

by Punter's Hero on June 13, 2011

in Latest News, poker

Since Black Friday, online poker in the US has never seen worse days, even after the 2006 UIGEA went into effect and the biggest US poker site, PartyPoker, pulled out of the US market. From the casual online poker player, all the way up the chain to the high stakes online pros and everything in between have had to adjust to life with fewer and fewer US poker sites.

Online poker pros who reside in the US and made their livings playing poker online are now struggling financially, especially since much of their bankrolls where and some still are tied up in their seized online poker account. Relocating to Europe is as hard as it sounds.

One such online poker pro Brian Mogelefsky, who had moved his family to North Carolina after having to shut down his mortgage company due to the national financial crisis, he is now facing another crises as his only means of income—online poker—has been eradicated by the US government.

Head of the Poker Players Alliance John Pappas says that Mogelefsky’s story is not rare, as 50,000 online poker players who made a living playing online poker are now out of work since Black Friday when PokerStars, Full Tilt Poker, and Absolute Poker were all shut down to US players. Now this sector of the US public has now joined the unemployed Americans group.

Some players whose cash is tied up in an account at one of these online poker sites that no longer accepts US players may or may not get their money back. If they had a PokerStars account, their chances are better, as PokerStars has paid out some players; therefore, it seems likely they will continue to make pay outs.

It may be months if ever before Full Tilt or Absolute pays back any of their former US players. Most have already accepted the fact that their money is gone.

Due to the state of affairs in the US online poker market, those professional poker players who quit their jobs, shut down their businesses, and depended on online poker for their income base are now facing depressing times financially and will have to figure out a new way to make ends meet, whether that be returning to their original careers or finding a new one.

Offer valid as of date published. T&Cs apply.

Previous post:

Next post: