UltimateBet Poker Network Goes Into Insolvency
The web poker network Cereus, which operated Absolute Poker and Ultimate Bet, went into insolvency. As of August 2010, it is no longer processing withdrawals and struggles to accept new players. As of this writing, the networks are owned by private company Blanca Games. The network was acquired from Tokwiro Enterprises in August 2010. The companies are still operating, but are not processing any player withdrawals. Furthermore, both of these sites are no longer accepting new players.
As well as the software, the UltimateBet website also offers a customer support center that answers questions. Several players have complained concerning this, but it is unclear whether the complaints have merit. The software company’s CEO, Travis Makar, was alert to the cheating problem before he founded the business. For instance, he knew that the poker program used a feature referred to as “God Mode.” Although his wife, Janelle Lynn, had an affair with a student during 2002, the company didn’t find out about this. The ultimatebet company is based in Costa Rica.
Pierson, one of the co-founders of UltimateBet, said he had nothing related to the God Mode cheating scandal. While he was the CEO of ieLogic, which later acquired the poker software maker Excapsa Software, he claimed to be unaware of the company’s internal affairs. However, he did admit he had some influence on the company. In fact, he says he was not aware of the ongoings during the scandal.
As with all the other websites, UltimateBet 마리나 베이 샌즈 카지노 has a history of scandals. In October 2006, it had been purchased by Absolute Poker, which in turn merged with Kahnawake Gaming Commission. Norton, a former Grand Chief of the Kahnawake Gaming Commission, was in charge of setting up the business and developing its software. This was the reason why it had a need to create a separate company to carry the gaming license, an organization referred to as E-World Holdings.
While there are several stories regarding cheating at UltimateBet, the business was founded in 2001 and has been a leader in the market. There are many game variants and tournaments, and the company also hosts a $200k guaranteed Sunday tournament. Moreover, UltimateBet hosts a few of the world’s top poker pros. The grand prize of this tournament is over $1 million. Its repute as a top poker site helped attract a lot of people to the website.
UltimateBet was acquired by Absolute Poker in October 2006, once the Kahnawake Gaming Commission merged with Absolute Poker. In 2006, ieLogic, which was owned by the former Grand Chief of the Kahnawake Gaming Commission, registered the trademark UltimateBet. It subsequently abandoned the brand, and eWorld Holdings leased the UltimateBet site. The lawsuits were ultimately settled, with the two companies claiming that the online poker site had violated regulations.
The scandal involving UltimateBet has resulted in the demise of the business. The company was created by a software company which developed the gaming software and marketed it. This made it difficult for the company to get the gaming license and operate online poker games. Consequently, it really is headquartered in Aruba, where it is a part of the E-World Holdings group. It is not yet clear how this scandal is connected to the ieLogic lawsuits.
The legal case against UltimateBet was resolved by way of a judge in November of 2008. During the trial, the jury decided that the business had misled its clients. The defendants were fined $2 million, but the Supreme Court discovered that their actions were not illegal. The court ruled that the operators were not guilty. After all, there have been no proofs of fraud or criminal activity. Apart from the money laundering and fraud cases, the monetary sanctions imposed on the company were minimal. The iovation lawsuit contrary to the company were also not linked to the website’s success in the poker space.
In a legal case against UltimateBet, the company was found to be cheating. The company was not aware of the cheating and had no way to avoid it. The investigation found that it was a rogue gambling site. The site is a scam and the owners of the company were fined by the court. While the ieLogic and Pierson companies are actually both operating in Aruba, the ieLogic software was utilized by the Kahnawake gaming commission.