- Legal States
Stoyan Todorov May 4, 2021 2 min read
Americas Cardroom Introduces Bankroll Beneficiaries Program
The Bankroll Beneficiaries program is arriving at Americas Cardroom as a way to guarantee that should anything happen to a player, their bankroll will go to the right people.
Americas Cardroom Plans for Unpredictable Consequences
Americas Cardroom has introduced the Bankroll Beneficiaries initiative created to support the families of players who have passed away. The idea is the brainchild of Winning Poker Network CEO Phil Nagy which he called “the best thing I’ve ever planned.”
WPN and Nagy hope that their customers would never have to face loss again, in the company’s own words. The program is coming online on June 30 and starting then, players will be able to link up their accounts to that of a loved one’s crypto wallet, allowing the beneficiary to withdraw from the player account in the event of their unexpected passing away.
“As a husband and father this is the coolest feature I have seen a poker site do. Very nice to know my wife and kids will not have to worry about tracking down my balance,” Nagy said.
The idea may seem grim altogether, but it makes sense as it allows friends and family to access the funds with the explicit permission of the deceased and can save regulatory hassle as well as help assuage some of the pain an unfortunate event may bring along with it.
Inactivity of 12 Months Triggers the Beneficiaries Feature
All Americas Cardroom players have to do is connect the crypto address of someone they trust, whether that is an individual or multiple beneficiaries.
The program would not need confirmation that something bad necessarily happened. Americas Cardroom will wait 12 months without account activity to distribute the remaining bankroll through to beneficiary accounts in cryptocurrency. While this is the first similar move for the online gaming community and poker, it’s a very common thing in the financial world.
You can assign your assets to be automatically sent to a beneficiary at stock brokerage firms and exchanges in the event that you do not log in to your account. Americas Cardroom is one of the first online poker websites to embrace Bitcoin as an alternative form of payment.
In November, the Winning Poker Network reported it was paying out $160 million monthly to players in Bitcoin.
Stoyan holds over 8 years of esports and gambling writing experience under his belt and is specifically knowledgeable about developments within the online scene. He is a great asset to the GamblingNews.com team with his niche expertise and continual focus on providing our readers with articles that have a unique spin which differentiates us from the rest.