NYPokerKing Under Scrutiny for Alleged Ponzi-Like Activities
Adnan Mohammad of NYPokerKing allegedly endorsing a poker platform operating as a pyramid scheme, according to Chase Bianchi's claims.
Poker pro, Chase Bianchi, has taken to Instagram to slam NYPokerKing for its apparent mishandling of player funds and suspected Ponzi-like business practices.
In an Instagram post, Bianchi claims NYPokerKing is not fulfilling its industry standard duty of holding player funds in full, and Cashouts are delayed.
Although payment processing issues may explain some delays, this is not what players expect when signing up with a poker room. Bianchi further alleges that they manipulate withdrawals by using depositors' funds, which, if true, could resemble a Ponzi scheme.
He also suspects NYPokerKing's payment processing method has been shut down, forcing them to rely on new depositors' funds to pay out withdrawals to customers. Bianchi's post received numerous comments, with some expressing distrust and many confirming the questioned withdrawal policy.
This isn't the first time players have claimed that Pokerclub.ag owes them money. In 2019, "Wizard-50" started a twoplustwo thread with a similar allegation, asserting they owed a player more than $40,000. The thread-creator states that another player requested a cashout but the poker room ignored their requests.
Multiple players, according to Instagram and twoplustwo users, have been ignored or blocked by the owners. Bianchi himself had challenged Adnan Mohamad in the past, accusing him of being a scammer. In 2019, Chase claimed Adnan accused certain players of owing money, citing cheating investigations and calling for players to report suspected activities - no concrete evidence has surfaced yet.
NYPokerKing is an unregulated poker room, with no officially confirmed allegations against them. With online poker still illegal in New York, it's challenging to take legal action against the platform. It's crucial to be cautious about who you sign up with in online poker, and NYPokerKing is no exception.
If you're seeking reliable online poker sites, check out our rakeback deals. In case you're signing up via an expert on partypoker, you can earn up to 60% cashback on partypoker, join exclusive VIP-Grinders Promotions, and more!
João Mourato
[more]
Worth Noting:
- Regulation and Reputation: NYPokerKing isn't one of the most well-established or highly recognized online poker platforms, and lesser-known sites often face unsubstantiated accusations of delayed or missing payments.
- Investigating Allegations: It is essential to critically evaluate unsubstantiated allegations found online and seek out reputable sources of information.
- Sign-up with Caution: Before signing up with any online poker site, verify licensing, check user reviews, and stay updated on any regulatory warnings.
- The alleged mishandling of player funds and suspected Ponzi-like activities at NYPokerKing extend to the broader casino-gambling industry, stirring gambling-trends debates and general-news discussions.
- The poker room's questionable withdrawal policy has raised concerns not just with Chase Bianchi but also other casino-and-gambling enthusiasts, as it raises issues similar to those seen in lotteries and sportsbook sectors.
- The crime-and-justice sector may scrutinize NYPokerKing with the current allegations, possibly leading to investigations if evidence surfaces that supports Ponzi-scheme claims.
- As the online gaming landscape evolves, it's crucial for players to remain vigilant and exercise caution before joining any casino-games platform, including poker rooms like NYPokerKing, to ensure a secure and enjoyable experience.
