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Poker: PIC Club bids online poker network farewell

10/18/09 - The online payments processor with a unique business model, PIC Club, has severed its business relationship with the Merge online poker network for undisclosed reasons. Pokerstars
 
The seperation surfaced when players reported receiving advisory emails from PIC informing that its arrangements with Merge will terminate on October 18th. Fortunately for players, it appears that PIC chief exec Chuck Kidd is trying to complete the exercise in a fair and responsible manner.
 
The email explains the process to Merge Network players on some 40 websites, saying: “If you choose to withdraw funds from any Merge Room back to PICClub, they will remain in a pending status, subject to review and approval by Merge management, and if approved will only be released from the pending status when we receive the funds from the Merge Gaming Network to cover your withdrawal.
 
"We regret the dissolution of this business relationship. However, we believe it is in the best interest of PICClub and our Valued Members," the email concludes.
 
The email implies that it may be possible for individual websites on the Merge Network to negotiate directly with PIC to use its services.
 
PIC's unique business model allows players to invest in the company while playing poker at some 130 online poker sites that have signed up to part of the PIC scheme. One dollar is deducted from each player deposit and reserved in a special account representing the player’s investment equity in the club. Players can also deposit bankrolls at the club, enabling them to move money between different sites with speed and convenience.
 
The club's professional player team includes respected names like Tom McEvoy, Barbara Enright and T.J. Cloutier.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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