Russian on the internet poker players hit challenging by sanctions

Russian on-line poker players hit challenging by sanctions


The consequences of the Russian invasion of Ukraine and subsequent economic sanctions from the West look to be key and wide reaching. One particular of the smaller sized disruptions we are seeing is that Russian poker players are facing a significant liquidity concern.&nbsp

The very first disruption to Russian poker came when PokerStars postponed EPT Sochi till October.&nbsp

The EU, UK and US agreed to eliminate Russian banks from the SWIFT international payment program and froze the assets of Russia’s central bank. This led to mass ATM withdrawals across Russia.

As a result of all this intervention, the value of the rouble has plummeted to an all-time low against the dollar. If EPT Sochi did go ahead in October the get-ins may have to alter drastically.&nbsp

Yesterday Vladimir Putin banned all transfers from Russian citizens to offshore accounts. That efficiently removed them from the global poker marketplace.&nbsp

Handful of poker rooms have created comment as however, but we have observed in poker forums and social media the issues Russian players have been facing. Payment processors like Skrill have prohibited Russian poker players from making transfers and getting payouts. At present it appears like the only way for Russian players to get cash on or off a poker space is utilizing Crypto, but handful of poker rooms really have that alternative. Unsurprisingly the price of Bitcoin has increased from about $37,000 on Monday to about $44,000 right now as a broader consequence of the sanctions and Bitcoin has overtaken the rouble in terms of market place cap.

Access to on-line poker rooms is not blocked, but Russian poker players are facing a major liquidity crisis and will most likely have to circumvent some key roadblocks if they wish to play as they did just a week ago.&nbsp

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