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POKERSTARS LEADS THE WAY WITH PLAYER PAYMENT TRUST

12/20/11 :  Independent third party trust with FSA oversight will give players confidence in payment - and online poker giant will shoulder payment processor risk to boot.
 
The world's largest online poker provider, Pokerstars, showed again this week that it is in touch with player concerns by announcing further protections for player funds.
 
Pokerstars has always segregated its players' funds away from business assets, but its new plan formalises the process and introduces an independent third party element for greater protection.
 
In the wake of the Black Friday shutdowns, in which Pokerstars was able to pay its players where rivals failed, the company is planning an independent, third party trust that will be overseen by the UK Financial Services Administration.
 
The trust company Pokerstars has chosen is owned by IFG Group plc, an established financial services company with market listings in London and Dublin.
 
The poker giant plans to first introduce the new system to the French market, and is already in discussions for other regulated markets such as Spain, Italy and Belgium. Company execs say they are hopeful that the example will be followed by other industry firms, improving the lot of players and enhancing the industry's image.
 
Chief executive officer Gaby Campos said in a statement Friday: “The security of player accounts and the integrity of online poker play are fundamental to the ongoing and future success of the industry.
 
“We have developed a unique structure that is ideal for the newly regulating markets. We hope that all responsible licensing authorities will ultimately insist that online gaming companies maintain the full amount of customers’ funds in fully segregated, independently managed accounts.”
 
“We are pleased to partner with the thought-leaders in European regulation to establish an industry-wide standard for ensuring player funds are protected.
 
Pokerstars emphasised that the trust fund concept will ensure that player funds are kept in bank accounts in regulated banks with balances at least equal to outstanding amounts owed to players at any given time...and that independent oversight is constantly maintained.
 
The online poker provider went a step further by noting that it will shoulder the risk associated with payment processors that fail to transfer money from a player deposit.



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$400k Winner at Bodog Casino - To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.

NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

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NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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