No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
Trusts For Gambling Players Finds
July 14,2012 : ARE TRUSTS THE ANSWER TO KEEP PLAYER FUNDS SAFE?
Independent trusts not only safeguard player funds against operator misuse, but from liquidators, too.
Online gamblers, and especially poker players, have been left holding the baby in a number of recent operator failures at companies like Full Tilt Poker, Everleaf, Purple Lounge and 5050Poker, severely denting player trust in apparently powerless or out-of-touch regulators as well as online gambling operators.
Over the weekend the poker information portal Pokerfuse took a well-researched look at the situation in an article that touched on the consistent failure to protect players despite frequent protestations of care for their welfare, and possible alternative solutions to the problem of supposedly segregated player funds being plundered by cash-strapped operators and eventually lost to liquidation proceedings.
Pokerfuse comes to the conclusion that Pokerstars might have the solution in the form of independent trusts, which it has deployed to good effect in ensuring no player goes unpaid.
The article points to the practical implementation of the idea on the PokerStars.fr site, which explains: “PokerStars’ approach provides a third-party, fully independent trustee being appointed to oversee player funds in France. The Trustee will be a UK trust company wholly owned by IFG Group PLC, an international financial services company with full market listings in London and Dublin.”
Pokerfuse points out that when player funds are placed in a trust, "...the ownership of the money passes to the trust. Their money cannot be lost on a liquidation or misused for operating costs."
On setting up its system, Pokerstars noted that player protection via the independent trust system is ideal for newly regulated markets, where the regulator can substantially ease its oversight burden by insisting that online gaming companies it licenses maintain the full amount of customers’ funds in fully segregated, independently managed accounts in a trust structure.
The process is not an expensive or complicated one, and is offered through many financial services companies based in diverse internet gambling licensing jurisdictions, and as Pokerfuse points out, the supporting IT infrastructure can be set up to sweep excess funds from the trust into the company’s accounts or top up the trust fund if necessary - common practice in other financially oriented industries such as banks and investment brokerages.
Regulators need add only a line or two to their existing regulations, and check that companies are using the system; such checks can again be automated.
"A low cost system of player protection that can put an end to the debacle we have seen over the past year that has brought the whole online gaming industry into disrepute; who could possibly object?" Pokerfuse correctly asks.
The article notes that the idea of a trust may not be universally popular with all operators, in particular those with limited financial resources.
Using a trust reduces the risk of misuse of player funds, but it also restricts the operators' freedom to deploy player funds to smooth cash flows or meet operational expenses - something a reputable and integrity-driven company should not be doing anyway.
The author correctly opines: "The best, the virtuous, those that believe in “the customer comes first” won’t gamble with your money, they’ll help you to gamble with it. The others shouldn’t be in the business anyway."
Pokerstars' concern for the safety of its player funds, and its foresight in adapting the trust structure for online poker, could pay marketing dividends as players become increasingly disenchanted with the manner in which operators are apparently allowed to misbehave by their regulators.
In a scenario where operator failures increasingly leave players exposed and at a disadvantage, the appeal of a genuinely safe and independent segregation of player funds has to be considerable.
Pokerfuse suggests that players could agitate for such a development by writing to politicians and regulators, sharing the facts with other players to get the message out about a relatively simple and inexpensive solution to what has become a major player concern.
Gambling News :
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
The Railbird Launched By Americas Card Room #acra -
Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.
Huge Caribbean Hold’Em hit at Bovada Casino -
A progressive jackpot strikes again! This time it was at Bovada Casino, where a Texas player landed the top hand playing Caribbean Hold’Em over the weekend. A grand total of $119,348 was collected from the poker-inspired table game.
New PartyPoker Pro Richard Dubini -
A regular player in the Latin American live circuit, Dubini will travel alongside partypoker ambassador Joao Simao to gain feedback from players about partypoker to help optimise both live and online poker for the local players.
$65k Hit on Bitstarz Slot -
Bewitching payout of $64,818 was scooped up by a fearless BitStarz player as he played the popular slot Hansel & Gretel: Witch Hunters, based on the movie with the same name!
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.