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About LinkBacksTalk about a mess. At the request of the operator, Malta pull's Purple Lounge's license. Then Purple Lounge goes into bankruptcy, putting player funds at risk. Then Malta says it isn't responsible for player funds because we don't regulate them anymore. This is clearly not the way the system is supposed to work. How should it work? Where does the responsibility of the regulator end?
Details:
https://www.cardplayer.com/poker-news...or-liquidation
https://www.cardplayer.com/poker-news...-purple-lounge
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6 June 2012, 10:53 am #1
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Purple Lounge heads to bankruptcy, player funds at risk
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6 June 2012, 3:46 pm #2
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Another operation closing...
This issue with regulator is a tough one. The system in place is not perfect, once an operation cancels their regulation the player protection goes, it really defeats the point of regulation when the operator can just cancel it and take back the funds.I am here to help if you have any issues with an affiliate program.
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7 June 2012, 1:54 am #3
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Malta are one of the better regulators and this just shows why realistically there is no real regulation - the second that Malta's own funds are at risk by regulating this sort of group all pretense of protecting the players goes out of the window.
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7 June 2012, 6:37 am #4
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Malta regulators are a waste of everyone's time.
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7 June 2012, 7:55 am #5
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All regulators are pretty much a waste of time - Malta only qualify as one of the better ones as you can occasionally get a response out of them....
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7 June 2012, 10:49 am #6
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Malta is the second worst regulator, second only to the UK Gambling Commission.
Regulation is an industry con job. They just marginally wallpaper over the cracks in a crooked business. Barely scratching away at the surface shows them all for what they are. They offer players nothing, the same as other industry cons like eCOGRA.
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7 June 2012, 12:05 pm #7
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Having had dealings with quite a few of them i'd disagree that they're amongst the worst, but pretty much everything else in your post i'd agree with.
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