Why Absolute Poker and Ultimate Bet Players May See Little Compensation

The U.S. Department of Justice filed a motion for a settlement agreement with Absolute Poker/Ultimate Bet, requiring them to transfer all their assets to the U.S. government. This move leaves players with little hope of significant compensation.

The Norwegian government is seeking $30 million in taxes from Madeira Fjord, the parent company of Absolute Poker. This legal battle adds to the complexity of the situation, as the company's assets are already under scrutiny by multiple governments.

The software of the Cereus Network, which included Absolute Poker and Ultimate Bet, was outdated and poorly maintained. This outdated technology, along with the primarily U.S.-based player base, further reduces the value of the companies' assets. About 70-80% of Absolute Poker and Ultimate Bet players were based in the United States, making the client database less valuable for confiscation and sale. The client database of Absolute Poker and Ultimate Bet had already been traded on the black market, reducing its value for confiscation and sale.