Did the FBI Just Kill Online Poker as We Know It?

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The FBI has shut down the three largest poker sites in the U.S. this afternoon, which is bad news indeed for the thousands of people who make a serious living playing online poker. Visitors to the website FullTiltPoker.com are met with this stern notice from the FBI and Justice Department:


pokerannouncement.png

Hillicon Valley has more:

The Federal Bureau of Investigation shut down the three largest online poker sites Friday in what appears to be the largest crackdown on illegal online gambling to date.

Eleven executives at PokerStars, Full Tilt Poker, and Abslute Poker have been charged with bank fraud, money laundering, and illegal gambling offenses. Prosecutors are seeking to immediately shut down the sites and recover $3 billion from the firms.

"As charged, these defendants concocted an elaborate criminal fraud scheme, alternately tricking some U.S. banks and effectively bribing others to assure the continued flow of billions in illegal gambling profits," said U.S. Attorney for Manhattan Preet Bharara in a statement.

Read the full story at The Hill.






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Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

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