PokerHeld Funds
Held Funds
What is Held Funds?
Held Funds is an anti fraud control which we have introduced in an effort to combat online credit/debit card fraud and money laundering. Held funds are part of your total cash balance and relate to your poker winnings in the previous 72 hours. Consequently, profits arising from poker sessions are not immediately withdrawable, they are held in a customer’s poker wallet for a period of 72 hours. Despite these funds not being available for withdrawal they are available for use at the poker table.
Who will Held Funds affect?
If you are a new poker player your poker winnings will be subject to the Held Funds mechanism. We want to get to know you a little so after a period of 30 days if we are satisfied that you’re a super cool poker player then you will no longer be subject to the held funds mechanism.
How does Held Funds work and how does it affect you?
When you play on paddypowerpoker your winnings are held and released after a period of 72 hours. It goes a little something like this….
Its Sunday evening, you sit at a poker table with $100, you have a winning session because you’re an awesome player and now you leave the table at 5pm with $160. Well done!
- $160 is returned to your poker wallet (1 below)
- $60 of this is restricted by the held funds mechanism (2 below) – this $60 is withdrawable after a period of 72 hours, or 5pm on Wednesday.
Later that evening your shooting the breeze, your flicking through the TV but there is nothing on so you decide that its time to give another display of your brilliance at the poker tables.
You sit at a table with $100. Poker is easy, your awesome and you leave the table at 9pm with $200.
- $200 is returned to your poker wallet and added to your existing balance (1 below)
- $160 is restricted by the held funds mechanism (2 below)
- $60 of this money was originally won at 5pm so this portion of held funds is withdrawable at 5pm Wednesday as per above.
- $100 will be withdrawable at 9pm Wednesday.
I’m a little confused – how much money is in my account and how much can I withdraw?
As per 1 above you have $260 in your poker account. However, as per 2 above $160 is restricted by the held funds mechanism. Your available withdrawable balance is 1 minus 2 or $100.
What happens when Held Funds are released?
Once your held funds are released the Held funds section of your poker account will reduce to zero, your poker balance will remain the same but you will now be able to withdraw it as you please.
T&C’s
paddypowerpoker reserves the right to hold any, and all, of a player’s funds indefinitely as a precautionary measure whilst we perform routine checks for fraudulent activity. Fraudulent activity may include, but is not limited to, stolen credit cards, chip dumping, forgery, collusion and the provision of false information.