What Does The Term Black Friday In Poker Mean?
Table of content:
- Online poker in the U.S. before Black Friday
- What happened on the 15th April of 2011?
- Impacts of Black Friday on online poker in the U.S
The 15th April, 2011 - Black Friday - A day which completely changed the future of online poker in the United States. We’re about to approach its 10th anniversary but the effect of that day can still be seen in poker games as far as the United States is concerned. Though the game is getting back on its usual track, it may still take some time to recover from the impacts of Black Friday.
So what exactly happened on this day? What was the state of online poker before the event of Black Friday? Does it still have an impact on the world of poker?
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Online poker was at heights of its prosperity in America. It was considered that the days will always be as bright. The topmost sites for online poker such as PokerStars and Full Tilt Poker were earning a healthy margin. The poker professionals were also helping in the publicity of those sites.
Americans were busy depositing, withdrawing and playing a dozens of games a day on these platforms. People were able to make a living out of playing on these sites. Big television shows were being organized to make poker popular as it never had been before.
No one had the idea of what was going to happen to the poker’s world in the early afternoon of 15th April, 2011.
On that Friday, allegations were made by the U.S. Department of Justice stating that the top executives of PokerStars, Full Tilt Poker and Absolute Poker have violated the Unlawful Internet Gambling Enforcement Act (UIGEA) and they were involved in money laundering and bank fraud.
The UIGEA was a law passed in 2006 which banned the payments from customers to be processed by online businesses. Poker companies were legally not allowed to accept payments from players in the form of bet or wager.
One more serious fact was revealed at the same time that those online poker companies owned a doubtful amount of around $3 billion.
The three websites were seized by the U.S. Department of Justice. People who were trying to log into the sites were welcomed with takedown notices by FBI and DOJ.
By the day's end, PokerStars and Full Tilt Poker banned all the players from the U.S.
Black Friday had its impact over millions of people and billions of dollars. Not only the online poker, but the poker industry in general was affected. People now were not able to make their living out of online poker games and the options of dealings in offline tournaments became very limited.
Those who had millions of dollars in their accounts with the companies were not able to take away their balances, their accounts were frozen. The game and the poker economy shrank in size.
The situation of online poker has improved in the past couple of years. The state due to coronavirus has helped a lot in the reemergence of online poker in the U.S. Also, now the online poker websites can be accessed using smartphones which was not possible in the ‘pre-Black Friday era’. In fact, apps have replaced websites now, making it a much more comprehensive experience for the users.
Moreover, the world of online poker games has now shifted to various parts of the world. One such app is GetMega, where you get to play different variants of poker at one place. So, download it now and give it your best shot to win some big money.