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UltimateBet Poker Network Shuts Down

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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 end of the Cereus Poker Network, players are no longer 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 go through several shell games and sell its gambling license. The company was founded by Jon Karl and Greg Pierson prior to the online poker boom hit the U.S. in the 바카라 룰 late 1990s. But the failure of UltimateBet came as a large surprise to investors, as the company was unable to meet the demands of its investors. They ultimately made a decision to sell the website to an exclusive equity firm.

In the aftermath of the collapse, UltimateBet was forced to refund thousands of players who lost money playing internet 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 problem by acquiring a gaming license from the Kahnawake Gaming Commission. Even though company was not able to get the necessary license to operate in NJ, the parent company, ieLogic, is focusing on developing its own software platform.

As 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 set up by a band 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 business. 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 specific account called “NioNio” was used to make high-limit games accessible to players. The online poker site then found a lot of fraudulent accounts with different screen names. Furthermore, the poker community collected evidence that led to the kahnawake Gaming Commission’s fine. As the lawsuit contrary to the poker site was not successful, it was a substantial blow to the poker community.

Until recently, UltimateBet was a favorite online poker site in the United States. It was an official World Series of Poker site and was licensed in the United States. The company was also known to have a high level of transparency. Despite the scandal, the company was aware of the cheating beforehand. The poker website even banned NioNio’s account. Fortunately, the poker site has removed the e-mail.

It is difficult to say if the UltimateBet poker site continues to be running a business today. Its success is based on its capability to attract and retain players. Its reputation for fair play is unmatched in the market, and its own reputable software has helped the site stay profitable since 2001. In addition to offering tournaments that feature world-class poker pros, the UltimateBet website also offers a Sunday $200k guaranteed game. If you’re looking for a place to play poker, check out its website!

UltimateBet also provides 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 are available in a wide variety of limits and stakes. The games on UltimateBet vary according to the time of day and the level of competition. In the WSOP, it has sent members to live tournaments. This program has five tiers: Gold, Platinum, and Platinum.

In August 2010, Joseph Tokwiro Norton acquired Exscapa Software, an organization that centered on massively multiplayer online role-playing games. He merged the website with Absolute Poker, and the two companies have since been section of the same management team. As the UltimateBet site was an effective poker site, it was not without controversy. The former Grand Chief of Kahnawake Gaming Commission, Pierson, and Tokwiro, Jr., founded the company.

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