PokerStars has released a statement outlining how it handles player funds, claiming its policies, in contrast with Full Tilt Poker's, will protect players' accounts, according to Canadian online poker resource G-poker.
In a statement released by PokerStars, head of corporate communications Eric Hollreiser states that the company's methods absorb the risks of working with online payment processors rather than passing those risks on to players.
According to Hollreiser, PokerStars maintains operational funds in separate accounts from players' funds, a practice that is required by the regulator on the Isle of Man where the company is licensed. The Alderney Gambling Control Commission, which licensed Full Tilt, however, does not work under the same policy of segregating funds.
"This is believed to be part of what caused Full Tilt Poker's financial problems, and part of the reason why the AGCC just announced it will conduct a review of its decisions regarding Full Tilt," said Jeremy Taylor, G-poker spokesperson.
"PokerStars claims it is now going to be more transparent, but this statement, coming only after the April 15 online poker shutdown, is a bit too late in my opinion. Our readers already show a preference for publicly traded poker sites that are fully transparent by law," said Taylor.
He added: "Poker fans have learned to appreciate the security provided by companies."
