Player Payment Trust by PokerStars

New player protection measure in place One of the main qualities of the world's largest online poker provider PokerStars has always been the attention it dedicates to the protection of players and their funds. They have proved it again this week, when in addition to the segregation of players' funds from its business assets, they announced the introduction of an independent third party element for greater protection. Apparently, the third party trust PokerStars has chosen is owned by IFG Group plc, and it will be overseen by the UK Financial Services Administration. The new system will be first introduced in France, the poker company stated, adding that it is already in discussions for other regulated markets such as Spain, Italy and Belgium. It has been stated by company execs that they hope the example will be followed by other industry firms. Apparently, the company believes 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, at the same time maintaining a constant independent oversight. As for the risk related to payment processors that may fail to transfer the money from a player deposit, PokerStars expressed readiness to shoulder the risk too. According to the company CEO Gaby Campos, “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.”