Nevada is Trying To Protect The Funds Of Online Poker Players
Posted on September 19, 2012 at 12:09pm
Nevada is going out of its way to protect the funds deposited by online poker players probably due to recent mishaps at 5050 Poker, Full Tilt and Purple Lounge. They have gone above and beyond necessary steps to enact rulings in the form of regulation that will protect these funds deposited by players. Regulators in Nevada have been applauded for doing this. Online poker players want to know that their funds will be there and that they are protected no matter what. In some cases in the past, authorities responsible for regulating online poker were relying mostly on the online poker operators to meet all the requirements without questioning them. Now Nevada regulatory enforcers have realized that they must be extremely diligent in seeing that all regulations are properly followed.
It is even being said that these new regulations for online poker player's deposit accounts might be more strict than those for land based casinos. Online poker player's funds must now be kept in separate accounts, and online poker player operators must be able to document that this is being strictly followed. The online casino operators have no entitlement to or ownership of these funds, which will make the funds safer for poker players to deposit. This will allow poker players to feel more secure that their funds will be there, even if online casinos were to experience financial difficulties. The penalties enacted upon online casino operators that attempt to dip into these funds would be severe. They would not only lose their licenses, but in some cases the actions would be prosecuted as criminal.
These accounts being set up to hold funds of the online poker players would be completely separate from the operating funds of the casino operator and would be protected by law even if the casino was to file bankruptcy. Players would still get their money back without needing to worry about whether the funds would be there. This enhanced protection for online poker enthusiasts should help to allay any fears or concerns that poker players might have about depositing money into their online casino poker account. By watching over the funds and making sure that casino operators are following proper procedure, poker players can feel that their funds will be adequately protected. They will know that funds will be there when they need them.