PokerInVenice Gathers Flak for Late Payment of Player Funds
PokerInVenice, an affiliate poker site that enables players to transfer funds across multiple online poker networks, stands accused of non-payment or late payment of funds. These complaints have been pouring in for the past several months.
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Operated by PivGame Limited, PokerInVenice has strained relationships with its partners, especially 4donk.com. PivGame Limited also had a partnership deal with Muchos Poker, a site that offers services similar to those offered by PokerInVenice. Recently, the iPoker Network had blocked Muchos Poker while freezing transfer capabilities between players in a bid to address certain internal issues.
A large number of users have complained that PokerInVenice processes payouts too slowly or does not process them at all. The company owes players thousands of dollars, most of which are related to balance transfers from poker skins that are now defunct to newer poker sites.
For instance, players whose balances are transferred to an online poker room run by Goalgaming Limited are required to play through an amount equal to 75 percent of the funds in their transferred account before they can make a payout request for those funds. Under such circumstances, players who have large balances will find it very difficult to get back their funds as the new sites do not have the required liquidity and players will just not be able to play as many hands to clear their funds. They can therefore consider their funds as good as lost.
The situation under which players are required to play through a percentage of their transferred amount before they can be allowed to request payout has been created under a license issued by the Lotteries and Gaming Authority (LGA) of Malta. This regulatory body grants licenses to a number of small online poker companies, but hardly addresses customer grievances.
Recently, PokerInVenice issued a statement, in which it stated that processing time for payouts from Cake Poker Network (CPN) will be at least 75 working days. Currently, the company says that it allows players to gain access to transfer funds among seven online poker networks—Ongame, Revolution Gaming, Enet, Instadeal, Ideal, Play2B, and Onfire. Ongame is the only one of those seven networks that finds a place in the list of top 25 networks in terms of player traffic.
There is an urgent call for player complaints to be turned over to the LGA of Malta although it is well-known that the regulatory body hardly responds to player complaints.