Cates To Recover $7 Million Thanks To PokerStars!

Once the death of Full Tilt Poker was announced last year, along with it went probably one of the best upswings in the whole history of the game. Daniel Cates, who used the screen name of “Jungleman12”, had won an incredible $7 million in the two years prior to April 15, 2011.

Cates had previously stated that around 80 percent of his entire bankroll was tied up and stuck on Full Tilt, which he has to struggle to deal with for the past 15 months.

However, on Tuesday came the announcement that PokerStars had come to an agreement with the Department Of Justice to take control of Full Tilt Poker and therefore stump up the cash to pay back every player that had money stuck within the site.

The U.S government stated that they will be posting specific information online in the “upcoming days” regarding the Full Tilt compensation. The money that the government will be using to pay out to the former Full Tilt players will be coming from PokerStars.

Cates had admitted that he was extremely sad throughout the past 15 months whilst waiting for some kind of resolution to this scandal; however he admitted that those feelings were pretty pointless. He decided that he had to carry on no matter what may happen with his money.

He did actually consider putting together some form of legal case against Full Tilt, however he went against that idea while there was still a possibility of it all being sorted out and him regaining his money.

The 22 year old poker pro also claims that he wasn’t just upset about the money, Full Tilt was where he was making the money, he was absolutely crushing his opponents before the site went down which “ hurt my momentum”.

Despite most of his money being locked up, he has managed to build a decent size bankroll since then. He did have nearly $1.5 million before losing $600k in a bit of a disastrous downswing.

He Upped And Headed For Europe

Since the ruling on online gambling becoming illegal in the United States, Cates moved to the United Kingdom where he could continue gamble online, even setting up a permanent residence. However, he dreams of the day he can once again go back to the states to live, if the law ever allows for gambling online in the future.

That possibility is not completely dead in the water with progress being made each week. The difficulty though means that it may take a while because each state would have to agree in certain respects.

However, at the very least players will now be getting their money back from one of the biggest scandals ever to hit poker.

 

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