Update: An Overview of Black Friday Effects


Good for some, bad for many

Over three weeks ago, the online gambling industry became well aware of how little it takes to shake its apparently stable world. Namely, on April 15, now called Black Friday, the U.S. Department of Justice seized the domains of some of the major online poker companies operating on the giant U.S. market. At the same time, the companies’ executives and founders, as well as the officials of a number of processing firms facilitating transactions between punters and the companies faced indictments by the U.S. authorities.

As a result of the federal actions in the country, the indicted Pokerstars, Full Tilt, Absolute Poker and Ultimate Bet decided to shut down their U.S. operations and focus on their non-U.S. projects. However, on their way out of the States, they were not alone – guided by the example, white-label Rival casinos stopped accepting new U.S. players, although the existing ones can still enjoy their favorite pastime, and it was recently reported that AdamEve Poker also ceased its U.S. activities. In addition, such climate in the industry drove a number of affiliate companies out of business, which started declining rapidly.

However, as the affected companies saw their numbers drop seriously in the past period, there are those that managed to benefit from the situation caused by the Black Friday actions. Companies such as Bodog, Cake Poker, etc. boosted their presence in the U.S. market, taking advantage of the withdrawal of their major competitors.

Still, even though players panicked as much as online gambling companies when the news of the indictments first appeared, believing that their money will remain trapped in their frozen accounts, the indicted companies and the DoJ decided to remedy the situation, at least when it comes to players, so they entered negotiations about temporary unfreezing of the seized domains, only until players are paid off. Recently, PokerStars already started the payoff procedure, whereas the Cereus network and FullTilt are still talking through the confusable details related to process.

On the other side, things don’t look so bright for the indicted companies’ employees, especially those of Cereus Network, which reportedly had to lay off some 80 percent of its staff in Costa Rica. Reportedly, some of the disgruntled former employees were the reason why the company’s premises, along with PokerStars’ offices and a couple of private residences were visited late on May 6 by Costa Rican OIJ, which caused much speculation throughout the industry.

Now, whether these actions had something to do with the Black Friday or not, it remains to be seen. But one thing’s for sure – since April 15, the industry has become a totally different place.

General Gambling News Gambling Law & Society News

Members Comments

  • United States donozzy

    10/5/11

    just another example of our \"mighty leaders\" trying to act but with their heads so far up their asses the cant see two feet in front of themselves
    which leaves them totally blind to what is going on in the world. therefore
    waisting time on petty shit instead of the important things that should be addressed, any way....... we need to oust all of usa government and get started all over again with perhaps our homeless and children under five
    would do a better job than the morons we currently have.

Login to post a comment:


 
 

Click Here to register a new account
 
 

What's going on right now!

5mins ago someone from United Kingdom played The Snake Charmer

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    24
  • Members Online
    356
  • Guests
    2,033
Highest Community Rated Online Casinos
Vera John Casino
  (129 Ratings)
Jackpot Capital
  (96 Ratings)
BetVictor Casino
  (126 Ratings)
Slotland
  (223 Ratings)
High Noon Casino
  (176 Ratings)
Win A Day Casino
  (232 Ratings)
Aladdins Gold Casino
  (140 Ratings)
CasinoEuro
  (91 Ratings)
Slotastic
  (85 Ratings)
Omni Casino
  (156 Ratings)
Platinum Play Casino
  (76 Ratings)
Party Casino
  (93 Ratings)
Red Flush Casino
  (107 Ratings)
GoWild Casino
  (227 Ratings)
Maple Casino
  (73 Ratings)
Casino Action
  (173 Ratings)
Vegas Casino Online
  (133 Ratings)
Club Gold Casino
  (201 Ratings)
GoldenCherry Casino
  (247 Ratings)
La Riviera Casino
  (43 Ratings)
Zodiac Casino
  (68 Ratings)
Win Palace
  (190 Ratings)
Slots Plus
  (111 Ratings)
Casino Titan
  (144 Ratings)
Pamper Casino
  (249 Ratings)
AC Casino
  (187 Ratings)
Cool Cat Casino
  (190 Ratings)
Club Player Casino
  (138 Ratings)
Wild Vegas Casino
  (127 Ratings)
Royal Ace
  (102 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus