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More on Juicy Stakes Acquisition: Cashout Limits, Record Fees and Withdrawal Timeframes

After buying Juicy Stakes, Zagox Management N.V. made a new announcement yesterday evening.

The most important update, after promising that they will handle the cash-out requests “in a timely manner,” referred to the new withdrawal rules. “The cashier is already set up to deal with the amounts that we plan to make available in the future but for the time being only requests up to $1,000 per week will be processed,” Juicy Stakes Team announced.

Also, all player-to-player (P2P) transactions will be disabled “until further notice.” The tournament tickets will be deleted and players will receive the equivalent cash value. “This should be carried out within the next few days,” it is stated in the second e-mail sent to players by Juicy Stakes’ new management team.

The withdrawal fees have also been changed and will have a strong effect on US cash-outs. US players will have to pay a record $100 fee for all check requests; the same fee will apply if the user wants to withdraw his bankroll using the “cash transfer” option (Western Union or MoneyGram). Nevertheless, the US-based poker players seem to be satisfied with the situation. Most of them say that it’s far better than nothing. “Fees are exorbitant yes, but I will happily take $100 on the chin for each max withdrawal – sure beats the hell out of trading it for .20 on the dollar”, Bogglor posted on the TwoPlusTwo forum.

Juicy Stakes has already taken the necessary steps to avoid the massive payout and is trying to convince their players to get back at the poker tables. Along with a new reload bonus planned to be released in a few days, the poker skin offers an interesting promotion to eliminate the withdrawal fees. If a player generates $25 in rake between October 14th and the date of the withdrawal request, Juicy Stakes will refund the full cash-out fee. All the players need to do is send an e-mail to support: “If you want to participate, simply send an email to our support after your payout has been processed and we will check if you have fulfilled the requirements. Once this check has been done, the full withdrawal fee will be credited back to your account.”

How long will poker players have to wait before seeing their checks? According to Juicy Stakes, all payouts will have a 4-business-day processing limit before being confirmed. After that, the players should receive their checks in 5 business days. If they are using the cash transfer option, they will get their money back even faster: an average of 48 hours. Will Zagox Management N.V. respect its promises?

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Florian Gheorghe