The online poker company, Pokerstars, has agreed to pay $731 milllion to settle civil suits accusing the company of money-laundering. The Justice Deptartment announced the deal on Tuesday.
Major online poker sites have been in a state of siege since the federal government charged them with a host of banking and money laundering offenses. They were charged with violating the prohibition on using US banks to transfer money for online poker. The companies had set up fake Web sites to handle the money, the government says.
Now FullTilt Poker has lost its license in the small British jurisdiction of Alderney. So what's the future for online poker? And will it hurt the World Series of Poker?
