In Part I, we discuss the origins of “Black Friday” and how Black Friday Poker emerged in 2011, including the role of Ray Bitar who created the online website Full Tilt Poker and includes Chris Ferguson, Howard Lederer, and Rafe Furst as co-founders. Now, let’s discuss what happened after it became so successful.
Understandably, because of his poor early life, Bitar had a strong desire for greater wealth which led him to criminal acts, stealing funds from Full Tilt Poker player accounts – a total of over $ 390 million.
In 2006, the US introduced the Unlawful Internet Gambling Enforcement Act (UIGEA), which made it illegal for online poker sites to serve US players visiting JoniQQ.
One of Full Tilt Poker’s competitors, PartyPoker, pulled out of the US market, leaving players looking for new sites. Despite these new laws, Bitar ruled that Full Tilt Poker will continue to accept US customers. As a result, the site has almost doubled in size.
Lederer, a resident of Las Vegas, has been highly respected in the poker world, having won two World Poker Tour titles, 44 cash in World Series of Poker tournaments and two gold bracelets The “Professor,” as he is known to many poker players, has built his estimated net worth is $ 60 million. As a co-founder, Lederer serves as president of Tiltware LLC, the company that founded Full Tilt Poker in 2004. He serves on the company’s board of directors along with founders of Bitar, Furst, and Ferguson.
As for Ray Bitar, many people in the poker world believe Bitar deserves a bigger punishment and will never forgive him, which he is well aware of. As a result, Bitar is no longer involved in poker. He wanted to forget the past and return to the day trading business, if possible.
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