Tom Dwan breaks Silence on $1 Million Promise

by Jeremy Olson on July 24, 2011

One of the few comforting thoughts for Full Tilt Poker players in the aftermath of Black Friday was the confidence that Phil Galfond and Tom Dwan had in the site. In fact, the two were confident enough in Full Tilt Poker’s ability to pay back players that they each pledged to give players $1 million total if FTP couldn’t make payments.

Unfortunately, three months have passed, and players are still waiting on their money. This being said, more than a few people have been twittering Dwan and Galfond about the promised $1 million. So far, neither Galfond nor Dwan have had much to say on the matter because they don’t really have any answers. But Dwan finally opened up about the matter after reaching out to players through twitter. He sent the following tweets:

Lotsa ppl pming me n messaging on twitter w/o having read up on what I said. If worst case happens I’ll pay in a fair way, and that won’t

(continued) Involve paying individuals jus b/c they messaged me a lot. Timeline was late 2012 I think (or anytime I’m >90%ish of ftp not paying out)

That said let’s hope everything gets resolved n I can keep my $s to spend on some goofy stuff that I’ll thinkup later

While Dwan’s pledge to pay jaded FTP players is certainly generous, it’s hard to imagine how paying $1 million could make up for the $150 million that Full Tilt owes American players. Even if Galfond throws in $1 million as well, this only covers 1.33% of the money that US players are due; throw in the amount that international players are owed, and not even 1% of the money is covered.

Long story short, people had better hope that something gets worked out with Full Tilt Poker soon so they aren’t relying on Galfond and Dwan to cover a fraction of the money.