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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.



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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