According to an article on MSNBC.com, players on Ultimatebet.com have been accused of cheating, by viewing the hole cards, and winning more than their normal share of pots.
Absolutepoker.com and Ultimatebet.com are owned by the same company and there was a case of cheating reported last year on Absolutepoker.com. In this strange case, there’s a claim of $75 Million in losses, and another company which sold software to Ultimate, Excapsa Software Inc. of Toronto, is being liquidated in an attempt to collect the claim.
How the money from the liquidation will be distributed is another entirely different question. Apparently, there’s more than one cheater involved in this scheme so it would be difficult to trace back to all the hands and pots that all these people were involved in.
What a big mess this is. And this is yet another reason for people to claim that there’s something wrong going on with online poker. Apparently, at least in this case, they are right.
In my opinion, this is exactly why online poker should be regulated like it is in England, instead of pretending like nobody uses it in U.S. Of course, regulation doesn’t seem to work very well when the regulators are in bed (literally) with the people they are regulating, but at least there would be something to point our fingers at.