Quote:
Originally Posted by SanchoHH
You keep throwing this around. Do you have any evidence that unsettled bets contribute to Pokershares' cashflow? That's not how legitimate betting operations work.
I cannot see anything in Pokershares Ts & Cs that mentions them ringfencing client money, nor about client money being deposited with a third party so that it is protected in the event of Pokershares becoming insolvent. Even if it was deposited with a third party to protect it, you would only get your stake back (up to a maximum of €500) but you wouldn't receive any winnings. (See Liability section from their Ts & Cs below)
All I have found so far that relates to protection of client funds / Pokershares' liability is below. I take the part I have bolded, to mean that clients are only covered up to a maximum of €500.
Pokershares are registered in Curaçao, and in the Governing Law section of Pokershares' Ts & Cs is says "The laws of Malta govern the provision of the Services." (Google about the Maltese government would be my advice)
Source:
https://www.pokershares.com/help/terms-and-conditions
Liability
To the extent permitted by applicable law, we will not compensate you for any reasonably foreseeable loss or damage (either direct or indirect) you may suffer if we fail to carry out our obligations under these Terms unless we breach any duties imposed on us by law in which case we shall not be liable to you if that failure is attributed to: (i) your own fault; (ii) a third party unconnected with our performance of these Terms; or (iii) any other events which neither we nor our suppliers could have foreseen or forestalled even if we or they had taken reasonable care.
As this service is for personal use only we will not be liable for any commercial losses of any kind.
In the event that we are held liable for any event under these Terms, our total aggregate liability to you under or in connection with these Terms shall not exceed
(a) the value of the bets you placed via your Account in respect of the relevant bet or product that gave rise to the relevant liability, or
(b) five hundreds euros (€500) in aggregate, whichever is lower.
Edit:
It does say this in the "Is it licensed and regulated?" section of the Ts & Cs
Absolutely!
PokerShares is operated by Safe Shares N.V. a company licensed and regulated by the laws of Curacao under the C.I.L. Curacao interactive licensing N.V. with license number 8048/JAZ. Client funds are segregated from company funds at all time.
But it doesn't say how exactly they are segregated, and you still only have €500 max protection if they become insolvent according to the piece in bold above.
Last edited by Mikey_D; 04-10-2020 at 09:45 AM.