US players have funds frozen after online poker indictments

For online poker players from the United States wondering when they’ll see the money from their poker accounts returned to them it might be even longer than first anticipated according to an FBI spokeswomen for the New York office who told Bloomberg.com:

“These funds are currently being reviewed by the U.S. as part of an ongoing criminal investigation, and we are looking at the funds and accounts to determine if they are the profits of an illegal enterprise,” spokeswoman Kelly Langmesser said. “The funds won’t be available until a determination has been made.” She went on to say that the investigation is focused on “the larger criminal enterprise of those who operate online Internet gambling sites and the individuals behind these sites,” Langmesser said.

This leaves players like Andrew Seidman -a legendary online poker player known as BalugaWhale-out a substantial amount of money. Seidman told a local Portland outlet kgw.com: “I have about $65,000 in those poker accounts that was most likely seized, and what the government chooses to do with my money is pretty much up to them.” Seidman went on to say, “I know at least 35 people looking to rent homes in Canada so they can keep playing and make a living,”

Some players are in even more dire straits than Seidman, considering there are many players who keep a substantial portion of their overall net worth in their online poker accounts, or like Kevin “Wizardofahhs” Thurman who has some 9 million Frequent Player Points sitting on PokerStars -enough to buy three Porsches from the PokerStars store, giving them a value of about $150,000-$200,000. Like many other players, Thurman is probably wondering what will become of those FPP’s.

Another player that comes to mind is Dusty “Leatherass9″ Schmidt. Schmidt is an online poker grinder who has racked up some $3 million in online poker winnings, but unlike many of the other online poker superstars Schmidt is in his late 20’s, married, and has a child, so he cannot simply abscond to Canada or move to Las Vegas. Fortunately for Schmidt he has branched out from simply being an online poker player and contributes as a poker coach at www.dragthebar.com, as well as starting his own publishing company which turns out books from a number of genres, but focuses mainly on poker books.

I think it’s very important that people realize the move by the DOJ and FBI has real world consequences for people like Seidman, Thurman, and Schmidt, all of whom were breaking no laws and now are at the mercy of the DOJ as to when, and if, they will ever be returned the money that is rightfully theirs -not to mention the ability to make a living. This isn’t simply about degenerate gamblers and millionaires preying on them; there are many players grinding out a meager living of $25,000, $40,000, and $80,000 playing online poker, paying their taxes on those winnings, and doing everything the right way that have just seen their livelihood taken away.