The gambling world received the somewhat shocking news as famous online gambling site PokerStars exit several markets.
The main reasons for doing this are regulatory issues that forced PokerStars new partner to act.
As a result, PokerStars will no longer stay operational in China, Taiwan, and Macau.
Unfortunately for local players, one of the several remaining Paypal Casinos and poker operator leaves that specific operational area.
PokerStars Tradition and New Objectives
The PokerStars is possibly still the most visited online poker site out there.
Offering various types of card games, this site has become a tradition for most card game lovers.
Moreover, PokerStars also offers sports betting, making it one of the most complete gambling sites in the world.
Unfortunately for Chinese, Macau, and Taiwan players, the site won’t be available in those jurisdictions.
The main reason for this sudden change is the lack of regulation in those jurisdictions.
PokerStars partner, Flutter Entertainment, states that the merged poker company will not be operative in such jurisdictions.
Mainly, the company wishes to preserve positive feedback from worldwide clients residing in well-regulated gambling jurisdictions.
Although this decision will result in major gross profit loss, the company strives to stay operative in a well-regulated environment.
Therefore, the merged organization will have a clean operational portfolio while preserving the majority of faithful customers.
Impact of the Decision on Existing Players
The unexpected change in PokerStars operation certainly affects players from impacted jurisdictions.
All current players are familiar with the new decision and they will be able to deal with fair conditions when it comes to betting.
For instance, PokerStars enables players to empty their accounts and cash in all existing tournament tickets.
Furthermore, the company has reduced its regular withdrawal terms to enable most players to cash in their accounts.
Players will have a longer withdrawal period than what is characteristic for this company, all to stay fair to players.
The company is probably going to lose £65 million because of moving out from gray zones of gambling regulation.
As they state from PokerStars, it wasn’t the fault of players that the company has to move out of their market.
All these mentioned jurisdictions made a considerable profit for the company in previous years.
Unfortunately, now the newly merged company wishes to move on with a clean slate, offering its services on strictly regulated markets.
The consequences of this move are surely not beneficial. Indeed, the loss of these markets will hardly compensate.
On the other hand, as stated by PokerStars, the company is striving to break into new better-regulated jurisdictions.
We have yet to see what those jurisdictions areas we only know about the Russian market for now.
It is undoubtedly a great loss for China, Taiwan, and Macau to stay without such a premium poker site.
How big of a hit it is for the gambling company itself, only time will show.