ACR is blocking users' withdrawals and demanding large rake payments
AACR is blocking withdrawals and demanding players pay large amounts of rake
Poker Fraud Alert founder Todd Witteles stated that ACR is not letting users withdraw money from sports betting until they have paid a large amount of rake in poker. The journalist cited complaints from a large number of bettors with balances ranging from $10,000 to $90,000.
Witteles notes that ACR promotes its Sportsbook betting platform as a separate product operating in parallel with ACR Poker. Yet one section of the platform's "Terms and Conditions" states that in order to withdraw funds, rake must amount to 10% of the deposit. For most players this means having to put in thousands of hours at the poker tables. What's more, many users have found that the rake requirements have been changed several times.
Witteles suggested that these restrictions could have three possible causes: liquidity problems, using the Sportsbook to push players into poker games, or an attempt to "punish" winning bettors and prevent them from cashing out their winnings. The journalist also urged people not to bet on ACR until the situation is clarified.
ACR Poker CEO Phil Nagy assured everyone that the company is not having money problems:
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Poker Fraud Alert founder Todd Witteles stated that ACR is not letting users withdraw money from sports betting until they have paid a large amount of rake in poker. The journalist cited complaints from a large number of bettors with balances ranging from $10,000 to $90,000.
Witteles notes that ACR promotes its Sportsbook betting platform as a separate product operating in parallel with ACR Poker. Yet one section of the platform's "Terms and Conditions" states that in order to withdraw funds, rake must amount to 10% of the deposit. For most players this means having to put in thousands of hours at the poker tables. What's more, many users have found that the rake requirements have been changed several times.
Witteles suggested that these restrictions could have three possible causes: liquidity problems, using the Sportsbook to push players into poker games, or an attempt to "punish" winning bettors and prevent them from cashing out their winnings. The journalist also urged people not to bet on ACR until the situation is clarified.
ACR Poker CEO Phil Nagy assured everyone that the company is not having money problems:
"We just ran a $15 million Venom tournament without a single payout issue. To be clear: this is a policy issue affecting 1% of 1% of players. It is NOT a liquidity issue."Nagy also promised to look into the situation in more detail soon and added that the company has been operating for 25 years and intends to operate for 25 more.
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