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  • PokerStars Releases New Player Protection Plan

    Sunday, December 18th, 2011 by Ryan

PokerStars is one of the most popular online poker sites in the world today. They are also the largest online poker site as they offer players the most cash games and tournaments out there, with incredibly large guaranteed tournaments also. One thing that many online poker players had worried about a bit though was the protection of their funds on any online poker site. This bit of news that recently came out is just another way that PokerStars has proven that they are moving forward from Black Friday, and looking to keep their players money safe. PokerStars has a new plan to protect their players funds by using a third party trust.

The plan is called the “PokerStars Player Protection Plan”, and the idea is basically to set up a fully independent UK trust company to protect and watch over players funds on the site. The group is owned by the IFG Group plc, who is a well-known financial service company in London and Dublin. This won’t be offered to every country right off the bat, as it will start in France from the get go, and they are hoping to expand it throughout all of Europe soon. While it’s currently locked in for only France, there have already been talks for the new protection plan to head to Italy, Spain, and Belgium specifically.

The biggest difference between PokerStars, and their biggest rival Full Tilt Poker, is that Stars always kept the players’ funds separate from their actual profits from the business. This left them in a spot to be able to pay back the players that they owed money to after Black Friday, and helped them stay afloat when many other online poker sites went under completely. The difference between what they are planning to do now and their old plan, was that this new segregation of funds would be watched over by this third party group. This will basically make their customer base feel better about putting funds onto the site, and simply make them feel safer.

To make players feel even better, Stars has stated that they will also be taking any risk involved with the payment processors who handle their deposits and withdrawals at anytime in the future. So basically if a payment processor does not transfer money correctly or fails to get any money situation handled in a timely manner, then it will be on PokerStars to credit the money into a players account.

It will be very interesting to see if this gives an even bigger boost to PokerStars’ already stellar online poker numbers, and helps that get that extra boost back up after they lost quite a few players after Black Friday. Customer service is one of the biggest concerns for many online poker players, so giving players another way to feel safe and comfortable about their money, is one of the many smart decisions that PokerStars has made to this point in their long life online.

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