UltimateBet Poker Network Shuts Down
In August 2010, Blanca Games purchased the assets of the Cereus Poker Network from Tokwiro Enterprises. This online poker network, which also included Absolute Poker and Ultimate Bet, is becoming insolvent. With the end of the Cereus Poker Network, players are no more in a position to process their withdrawals or make deposits. The business has since shut down its remaining websites. However, it really is unclear when and if it will resume processing player withdrawals.
To be able 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 prior to 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 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 a large number 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 business was able to overcome this problem by acquiring a gaming license from the Kahnawake Gaming Commission. Even though company was not in a position to get the necessary license to operate in NJ, the parent company, ieLogic, is working on 올인 119 developing its software platform.
While the closure of UltimateBet has been controversial, it had been still a major loss to the poker community. Regardless of the scandal, it was a step in the right direction for the. The site was set up by a band of secretive high stakes players who had committed to Excapsa and iovation. The companies are also accused of shady business practices. In December 2010, Hellmuth resigned from the business. In January 2003, the business 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 online poker site then found a large number of fraudulent accounts with different screen names. In addition to this, the poker community collected evidence that led to 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 Group of Poker site and was licensed in the United States. The company was also recognized to have a high degree of transparency. Despite the scandal, the business was alert to the cheating in advance. The poker website even banned NioNio’s account. Fortunately, the poker site has removed the e-mail.
It is difficult to say whether the UltimateBet poker site is still 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 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 a spot to play poker, have a look at 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 based on the time of day and the level of competition. In the WSOP, it has sent members to call home tournaments. The 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 site with Absolute Poker, and both companies have since been portion of the same management team. As the UltimateBet site was an effective poker site, it had been not without controversy. The former Grand Chief of Kahnawake Gaming Commission, Pierson, and Tokwiro, Jr., founded the company.