More good news came out of the poker world on Tuesday afternoon as PokerStars announced that US poker players can now begin cashing-out their funds from the site, which should also bring a sigh of relief to the WSOP tournament staff and organizers considering players will be getting their bankrolls from PokerStars with plenty of time to book a flight to Las Vegas from May 31st on. In an E-Mail sent to all US real-money players at PokerStars the site stated the following:
In light of recent developments, PokerStars is no longer offering real money play to residents of the United States of America and its territories.
The PokerStars Cashier is now available for you to cash out the funds in your real money account balance. We strongly recommend that you use the bank transfer option; to use it, you will need to have your current banking information at hand.
Please note that due to the expected high volume of cashout requests, we anticipate a delay in processing and delivery of your funds. Rest assured that your funds are safe and we will process your request as soon as possible.
Please contact paymentservices@pokerstars.com if you experience any issues.
Thank you for your patience and understanding.
Regards,
PokerStars Support
All-in-all this is excellent news for poker players, and many players are likely celebrating like they won the WSOP Main Event this evening! Of course there is a little bit of fine print involved as well: Players must cash-out their entire bankroll, and have three options to choose from in regards to withdrawing money –basically one for each type of player:
- High-rollers with a minimum of $50,000 on the site –who were sweating big time– can request a Wire Transfer
- Players with $100 or more can request a check from PokerStars
- Micro-Stakes players can request a bank transfer if they have at least $1 in their account
Players with less than $1 in their account are out of luck –seemingly twice over as they are broke in the first place—and will see their account balances forfeited to PokerStars, which the site says is looking into donating this amount to charity.
Another area of interest –especially to those high-roller types—is the decision on Frequent Player Points, and if they will be allowed to use them in the PokerStars Store, if they will be reimbursed some amount for any unused FPP’s, or if a player’s FPP’s will simply be forfeited.
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Written by Steve Ruddock on April 27th, 2011