New Player Protection Plan Revealed by PokerStars

Play Poker » New Player Protection Plan Revealed by PokerStars

January 5, 2012

A new plan has been announced by PokerStars.com recently. The plan has been developed with the aim of protecting players’ money. PokerStars plans to employ a third party to oversee how customer’s money is handled by the site.

PokerStars Player Protection Plan

The new strategy adopted by PokerStars.com to protect players’ money is referred to as PokerStars Player Protection Plan. An independent trust company based in the UK has been appointed by the poker room to monitor players’ funds. The trust company operates under the IFG Group plc. It is a well-known firm offering financial services. The trust company has market listings in Dublin and London.

Player Protection Plan to be Introduced First in the French Market

PokerStars will be introducing the player protection policy in the French market initially. The company hopes that the policy will eventually become the industry standard across European nations. Discussions have already been initiated by PokerStars for introducing the player protection plan in newly regulated markets like Belgium, Italy and Spain.

Maintaining Security of Players’ Funds is Essential

Maintaining the security of players’ funds is crucial, according to the CEO of PokerStars, Gabi Campos. He stated that the future success of PokerStars depends on how far the company is able to protect players’ funds. The CEO added that the entire team of PokerStars is pleased that the company has partnered with thought-leaders in Europe. This will help in establishing an industry-wide standard for protecting players’ money.

PokerStars will Maintain Players’ Money in Segregated Accounts

In the wake of the Black Friday incident, PokerStars adopted the policy of maintaining players’ funds in separate accounts. The policy has been implemented so that the site is able to make timely payouts. The new player protection plan is an improved version of the previous policy followed by the site. A third party will oversee how players’ money is handled by the poker room.

The third party will make sure that players’ money is not mixed with funds for operational uses. The body will also see that players’ money is kept in regulated bank accounts. In case, a player faces issues with regard to funds, he can approach the trust company directly.

In addition to these measures, the poker site also mentioned that it will handle all kinds of risks related to delay in processing transactions.