- The Garden City Group provided further clarification regarding the status of rakeback for players identified as affiliates by Full Tilt Poker.
- Rakeback payments made to players classified as affiliates will be considered as part of the recoverable balance.
- However, if the rakeback payments were not properly labeled as such by Full Tilt Poker, which appears to be the case for rakeback payments made prior to July 2010, players will have to dispute the balance as calculated by the GCG and provide “an explanation differentiating rakeback from Affiliate revenue.”
The Garden City Group provided further clarification regarding the status of rakeback for players identified as affiliates by Full Tilt Poker on Tuesday.
The claims administrator, as instructed by the US Department of Justice, will consider rakeback payments made to players classified as affiliates as part of the recoverable balance.
Following the announcement last week that the GCG had emailed affiliates credentials required to file a remission claim, players discovered that in some cases rakeback payments were being treated as affiliate payments which are not eligible for recovery under the terms set forth by the DOJ.
Players were quick to bring this discrepancy to light, and within days the GCG has modified its stance.
However, if the rakeback payments were not properly labeled as such by Full Tilt Poker, which appears to be the case for rakeback payments made prior to July 2010, players will have to dispute the balance as calculated by the GCG and provide “an explanation differentiating rakeback from Affiliate revenue.”
The deadline for affiliates to submit a petition for remission is March 2, 2014.
The GCG is still in the process of reviewing the circumstances surrounding the accounts of former Pros. An announcement regarding the review is expected in the coming weeks after which any Pros deemed eligible will have 30 days to file their petitions.
