More Security for American Online Poker Players in Nevada
Posted: September 10, 2012
Updated: October 4, 2017
The new gambling law in Nevada obliges online poker room operators to completely separate player's accounts from the poker room's trust funds.
Anyone who visited one of the online poker sites in United States may know that the one of most important thing in online gambling is the player-safety. That’s why the American gambling laws try to favor the player’s interest.
With the new gambling regulation in Nevada, online poker room operators in the Silver State will be required to completely separate player’s accounts from the poker room’s trust funds.
According to United States gambling news sources, online poker site operators will also be obliged to protect gambler accounts. The law clearly states that the operator has to be excluded of the ownership, title or even the interest of players’ funds.
Many experts say that the new laws regarding online poker are actually stricter than those regarding land gambling facilities in Nevada, for example in Las Vegas.
Another important change in the Nevada online poker law requires the player’s accounts to be audited by an independent monitoring system. This enables the gambler’s money and the poker room’s money to be totally separated from each other, also meaning that the poker room will have no access to the players’ money to cover its operational costs.
Online poker room operators who fail to comply with the new gambling law and try to touch player’s money to cover their own costs will face serious consequences that can even land them a criminal case. Loss of license would also be almost inevitable in most cases.
With the new gambling regulation in Nevada, gamblers may enjoy the biggest advantage when an operator has financial problems. It has happened a few times recently (for example in the case of Full Tilt, Purple Lounge or 5050 Poker), poker rooms tried to cover operational losses from players’ funds.
With the new regulation, player’s funds are kept completely separate from the company’s funds, therefore the players can be paid out in full, avoiding possible waiting, frustration and financial loss.