Whilst poker players in the US only have a limited number of US licensed and regulated online poker sites that they can sign up to and play at, such as those located in Nevada and New Jersey, over in Europe thanks to some much more liberal gambling laws, poker players based there do have a huge range of online and mobile poker sites they can sign up to and play at.
However, due to the very nature of online poker, and the fact that there are some huge companies involved in that industry, the number of poker sites available has been growing steadily over the years.
One of the largest European facing poker sites was a company called PKR, and in additional to their live online and mobile poker games and tournament offerings they also offered a range of real money casino games via their online casino site.
Players had been getting worried in recent days in regards to the length of time it was taking PKR to pay them out their winnings, and it sadly looks like those worries were real for it has just been announced by both PKR and Microgaming who supply their software and games that PKR has now gone into administration.
What has always happened in the past as soon as any casino, bingo or poker site has been experiencing major financial difficulties is that Microgaming when supplying those sites with the software and games tended to pull the plug on their games as soon as they became aware the companies involved were in trouble, and this is something that Microgaming have now done.
Several updates regarding PKR can be found on the Microgaming website, and the main licensing jurisdiction that had issued PKR with their license to operate have also made announcements of the suspension of the PKR gambling licenses.
This does of course pose the questions are players funds safe, and whilst many licensing jurisdictions demand that players funds are kept in a segregated account, it will be the administrators who will ultimately decide what if any players funds are available.
It will be the case that players will soon be required to put in a claim for any funds they had in their PKR accounts and then those players will be required to wait until the financial status of the company are known to find out what if any funds will be paid back to them.
This should also act as something of a wakeup call to any US based online poker players of the danger of signing up to an playing at an offshore based poker site, for many of those sites have no real regulation and as such players funds will always be at risk when playing at such a site should those sites experience financial problems!