Absolute Poker and UB.com Bankruptcy Rumors

I hate to be the bearer of more bad news, but there are rumors swirling around that Absolute Poker and UB.com are in the process of declaring bankruptcy and disappearing forever. This is the worst case scenario for poker players because it likely means nobody is going to be seeing any cashouts any time… ever.

Rumor has it that the parent company of both poker sites, Blanca Gaming, is either about to file for bankruptcy or already has. In this scenario, poker players will probably be the last people to see any money. We have also heard that employees of both poker sites are being laid off and that entire offices are being cleaned out at this moment.

The recent US government crackdown on online poker has apparently taken its toll on these two former powerhouses of online poker. It looks like Absolute Poker and UB.com have been putting all their eggs in one basket by focusing on the US market without putting much effort into attracting an international player base. As a result, recent actions have basically rendered them strapped for cash and unable to continue business without their US player base.

To my readers: I must apologize for ever promoting Absolute Poker and UB in the first place. These companies have had their tough times in the past, but I truly thought they were past all that. Unfortunately, the US government has flubbered things up once again in its attempt to dictate every aspect of our lives. If it makes you feel any better, I’ve got a few grand locked away in both sites as well.

I’ll be updating the review pages and changing links out as soon as this article goes live.

Online poker in the United States is not looking good at the moment. We still have Carbon Poker on the Merge network, but they might be the biggest target now. It’s anyone’s guess as to what happens next.

The one bit of good news is that it appears the media is finally waking up to the idiocy of these recent actions. There have been several articles lately that question the purpose of spending so much effort on such a trivial issue – especially when the industry could be regulated and taxed.

UPDATE – There just might be a safe alternative for US poker players. The poker site ClubWPT.com is officially open for business and uses a slightly different business model to stay completely legal. This poker site charges players a flat fee of $20 a month to play in tournaments at ClubWPT.com. Players can win real money prizes and seats to live events and not have to worry about the legal issues.

ClubWPT.com doesn’t have the excitement of ultra high stakes cash games, but it’s a safe and efficient alternative for now. You can still win real money and participate in satellite tournaments to major land-based tournaments. Payments aren’t an issue since this site operates on the “right” side of the law. And at $20 a month, you always know exactly how much money you will be risking.