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 finish of the Cereus Poker Network, players are no longer able to process their withdrawals or make deposits. The company has since turn off its remaining websites. However, it is unclear when and if it’ll resume processing player withdrawals.
To be able 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 before the online poker boom hit the U.S. in the late 1990s. But the failure of UltimateBet came as a large surprise to investors, because the company was unable to meet up with 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 internet poker. This was due to 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. Although the company was not able to get the necessary license to use in NJ, the parent company, ieLogic, is focusing on developing its software platform.
While the closure of UltimateBet has been controversial, it had been still a significant loss to the poker community. Regardless of the scandal, it was a step in the right direction for the industry. The site was set up by a group of secretive high stakes players who had invested in Excapsa and iovation. The companies have also been 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.
Through 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 popular online poker site in the United States. It was an official World Group 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 alert to the cheating beforehand. The poker website even banned NioNio’s account. Fortunately, the poker site has removed the e-mail.
It really is difficult to say whether the UltimateBet poker site is still running a business today. Its success lies in its ability to attract and retain players. Its reputation for fair play is unmatched in the industry, and its reputable software has helped the site stay profitable since 2001. In addition to offering tournaments that feature world-class poker pros, the UltimateBet website offers a Sunday $200k guaranteed game. If you’re looking for a place to play poker, have a look at its website!
UltimateBet also offers a great experience because of its 드림카지노 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 multitude 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 focused 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. While the UltimateBet site was a successful poker site, it had been not without controversy. The former Grand Chief of Kahnawake Gaming Commission, Pierson, and Tokwiro, Jr., founded the business.