The events of Black Friday have left a deep scar on the face of the online poker gambling industry. Funds belonging to customers of three major online poker rooms were frozen by US authorities and players will have to wait quite a while till they can see their money again.
Following these events, many online poker operators are formulating new ways to ensure player protection and customer accounts. PokerStars, one of the three online poker operators that were hit by the Black Friday crackdown, has initiated a new player protection program. The PokerStars Player Protection Plan will put the fund?s of their French customers in an account that will be under the watch of the international financial services group IFG Group.
These customer funds will be overseen by a Financial Services Authority-regulated fund manager, who will ensure the online poker company has enough funds to repay all money owed to players at any given time. PokerStars has announced that its top priority is player protection and that other newly regulated markets will follow suite shortly.
Experts believe that offering better player protection is the way to go and they also estimate that similar methods for fund protection will be introduced. In future it is likely that online casino license authorities will insist that gambling companies maintain the full amount of customer funds in fully segregated and independently managed accounts.