Great news! Players as well as their backers in partypoker LIVE events can now be protected thanks to a suggestion of Bill Perkins, which has been implemented on Saturday, January 4.
Owner of the popular live streaming channel, the Thirst Lounge, Perkins tweeted on New Year's eve, "If live tournament allowed backers to enter people and collect the cash we would smash registration records. If this can be worked out poker would BOOM again."
He then wrote further, "one of the biggest issues with backing people is how the cash is controlled. Make that simple and everyone benefits. Should be easy to have X player but cash goes to Y backer. Just a few more lines of code."
partypoker LIVE agreed that it was a great idea and came up with the Joint Instruction Form.
Simply put, partypoker LIVE enables players and backers to settle payouts using the cash desk at tournaments to pay out the correct amounts to each party. This makes the process of backing players safer and easier, and reduces post tournament admin.
Both parties must download, complete, and sign a simple form. The cashier will then distribute the funds as indicated in the form if ever the player in the tournament manages to land in-the-money places. It's as simple as that!
To see the terms and conditions and to download the Joint Instruction Form, check it out here.