The end of online gambling is near

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Author: [General Discussion] Topic: The end of online gambling is near
RichardA PM RichardA
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Posted: 4/15/2011 9:45:18 PM
Sorry to rain on your GOP bash, but that law was a Harry Reid led endeavor as an attempt to gain reelection favor with the Las Vegas casinos. Yes, it got support from a mixed bag of members of both parties, but apparently Harry was rewarded then with reelection support. And now the Justice Department is doing their part; likely also at his bidding.

Yes, this is led by Reid with obama's and holder's complete support....
vanzack PM vanzack
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Posted: 4/15/2011 9:48:06 PM
QUOTE

Originally Posted by LeafsNeedD:

Van you really think the liquidity of these poker sites is in jeopardy?  The operating structure of this sites would require very minimal capital as a % of deposits I would imagine.  They're just running some software and taking a % of every game. 

But who knows where the money is, and how much was confiscated by the DOJ.

I agree with your statement as a business model - but this is an unregulated for profit organization - that might or might not have protected their assets wisely.  Who knows?  Maybe all players money is safe, but in the indictment it said that 75 bank accts were confiscated by the DOJ, who knows how much was in there?  Who knows if the owners shoveled money away in some hidden acct?

It is a clusterfuck for players now.  I just cant imagine living in Japan or something and making my living doing something, and then all of my money is in jeopardy because of another country.

Hopefully it plays out well for everyone, but it isnt going to be a quick conclusion.

vanzack PM vanzack
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Posted: 4/15/2011 9:49:21 PM
QUOTE

Originally Posted by RichardA:

Sorry to rain on your GOP bash, but that law was a Harry Reid led endeavor as an attempt to gain reelection favor with the Las Vegas casinos. Yes, it got support from a mixed bag of members of both parties, but apparently Harry was rewarded then with reelection support. And now the Justice Department is doing their part; likely also at his bidding.

Yes, this is led by Reid with obama's and holder's complete support....

Richard - respectfully - please take the political (repubs vs dems) bullshit elsewhere.  Start your own thread and post in it.  Neither side has their hands clean on this one.

 

Syddigs PM Syddigs
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Posted: 4/15/2011 9:51:18 PM
QUOTE Originally Posted by RickeM:

Sportsinteraction.com claims that they are fully licensed and regulated in North America. Being that the US is part of North America I understand that to mean that you would be safe betting over there.


SportsInteraction have used a loophole and are licensed and regulated on an Indian Reservation. They are not licensed and regulated by the Canadian Govt, but by the Kahnawake Gaming Commission on the Kahnawake Indian Reserve just outside of Montreal.
RichardA PM RichardA
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Posted: 4/15/2011 9:53:18 PM
QUOTE Originally Posted by vanzack:

Richard - respectfully - please take the political (repubs vs dems) bullshit elsewhere.  Start your own thread and post in it.  Neither side has their hands clean on this one.

 



I'm just following Rahm Emanuel's advice by not letting a good crisis to go waste...
gamble04 PM gamble04
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Posted: 4/15/2011 9:59:21 PM
QUOTE

Originally Posted by RichardA:

obama and holder are to blame..

VOTE THE FASCIST people, OUT!!!

 

LeafsNeedD PM LeafsNeedD
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Posted: 4/15/2011 10:07:37 PM
I had 1k in pokerstars and i took out $800 to be safe.  I think our money is safe outside of the U.S. unless we elect a majority conservative government in Canada in 3 weeks at which point I'd start to worry.  There's still a lot of money to be made when the infrastructure is already established even without the U.S. market. 
pinoy1da PM pinoy1da
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Posted: 4/15/2011 10:12:59 PM
Some offshore sportsbooks have been targeted by FEDS - Bodog.com / Betus.com (Books will start giving u a hassle on withdrawals so hurry
pinoy1da PM pinoy1da
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Posted: 4/15/2011 10:15:13 PM
This didn't happen b/c of harry reid or obama, it happened b/c of harrahs and churchill downs, unfortunately wasn't impt enough for reid ;(
RickeM PM RickeM
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Posted: 4/15/2011 10:17:32 PM
QUOTE Originally Posted by pinoy1da:

Some offshore sportsbooks have been targeted by FEDS - Bodog.com / Betus.com (Books will start giving u a hassle on withdrawals so hurry
Where are you getting this information?
I_Need_A_Detox PM I_Need_A_Detox
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Posted: 4/15/2011 10:19:20 PM
back to locals. the way it should be.
pinoy1da PM pinoy1da
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Posted: 4/15/2011 10:24:08 PM
QUOTE Originally Posted by RickeM:

Where are you getting this information?

twitter from Randizzle 
twitter from Tom Dwan 2nd post
RichardA PM RichardA
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Posted: 4/15/2011 10:33:58 PM
QUOTE Originally Posted by pinoy1da:

This didn't happen b/c of harry reid or obama, it happened b/c of harrahs and churchill downs, unfortunately wasn't impt enough for reid ;(


No, it happened b/c of harry reid with the blessings of obama and holder...trust me on this...
thorpe PM thorpe
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Posted: 4/15/2011 10:52:39 PM
QUOTE Originally Posted by LeafsNeedD:

I had 1k in pokerstars and i took out $800 to be safe.  I think our money is safe outside of the U.S. unless we elect a majority conservative government in Canada in 3 weeks at which point I'd start to worry.  There's still a lot of money to be made when the infrastructure is already established even without the U.S. market. 



I agree that they would be OK without the US market, if they never accepted US customers.


But the US is trying to confiscate 3 billion dollars from these companies as money laundering penalties.  I doubt any of them can absorb that, plus legal expenses, plus all the people that will withdraw money, plus not being able to accept new deposits from the US.  
RichardA PM RichardA
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Posted: 4/15/2011 10:58:06 PM
armafuckingeddon it is.
oken PM oken
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Posted: 4/15/2011 11:17:38 PM
Hey scary darn, run forest run!
LeafsNeedD PM LeafsNeedD
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Posted: 4/15/2011 11:20:24 PM
QUOTE Originally Posted by thorpe:




I agree that they would be OK without the US market, if they never accepted US customers.


But the US is trying to confiscate 3 billion dollars from these companies as money laundering penalties.  I doubt any of them can absorb that, plus legal expenses, plus all the people that will withdraw money, plus not being able to accept new deposits from the US.  


Really?  You think they're dumb enough to keep that much money in the U.S.? 
LeafsNeedD PM LeafsNeedD
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Posted: 4/15/2011 11:22:12 PM
Nothing surprises me anymore anyways. 

This is just one more reason for the people's revolution but there's too many friggin idiots that just live one day at a time not having a friggin clue how this world operates. 
MontGarry PM MontGarry
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Posted: 4/15/2011 11:24:02 PM
Let's get this straight...completely legal businesses, not even on US soil, get torpedoed by the U.S. Justice Dept. for allegedly breaking some antiquated American banking regulations. Yep, sounds about right. Thanks!
hizzo123 PM hizzo123
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Posted: 4/15/2011 11:35:00 PM
I feel like I just got grounded by my parents.  This country is so fucked on so many levels that not only would I move if I could, I would implore everyone else to do the same.  This country was founded to escape persecution in the first place and now we have come full circle.  The government gets enough of my money and now they want more.  Poker will be regulated in the near term so the taxes on that can help pay for all of the overspending.  Good Job Big Brother on friggin us again.  Please sir can I have another!  Sorry for the rant it probably belongs in another thread but I couldn't help myself.
LeafsNeedD PM LeafsNeedD
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Posted: 4/15/2011 11:57:10 PM
If you taxed poker or sportsbetting, it would be pointless .... the margins for success are so slim even with no tax. 
lemonsky PM lemonsky
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Posted: 4/16/2011 12:00:17 AM
And as of today Steve Wynn severed ties to PokerStars. Van, I don't know if I'd hold my breath about legalization. For it to have any chance, there needs to be a Democrat occupying 1600 Pennsylvania Avenue as well as Democratic majorities in the House and Senate, possibly a filibuster-proof majority in that chamber. Practically all Republicans serving in Congress are religious zealots or kowtow to them (like member of the tribe, Eric Cantor). There are only a smattering of Senate Rs that may vote for legalizing online poker like Scott Brown of Massachusetts and Susan Collins and Olympia Snowe of Maine but that's practically it. Don't forget that the UIGEA was pushed through by VA Republican Goodlatte in 2006. And yes, many Democrats voted for it because gambling is so stigmatized, voting "nay" may have been frowned upon but this kind of law would never have been introduced by a Democratic-led House or Senate.

But if anything is going to be legalized, it's poker only. There is no way in the abysmal depths of hell that sports wagering will ever be legal outside of Nevada. Even though tens of millions enjoy it, Republicans and Democrats, it's too politically radioactive to touch because of the visceral stigma associated with it.

 P.S. Sorry if anything went awry with this post because I'm typing this from my iPhone and had to employ some cut-and-paste trickery for my comment to go through.
Renton2010 PM Renton2010
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Posted: 4/16/2011 12:06:43 AM
This news is certainly tough to swallow for the gambling community.

Unfortunately the greed of these companies got the best of them.

They needed to exit the market, as other big players in the industry did, after the UIGEA of 2006 was passed.

Instead they continued to be a haven for American gamblers, which may cost them dearly.

The fact can not be argued that these poker sites circumvented the law when it came to American players.

Of important note I don't see legalization of Poker anytime soon for Americans. 

Neither does vegas by the looks of it. I have linked an article that seasoned gamblers will find interesting.

Link
RichardA PM RichardA
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Posted: 4/16/2011 12:09:45 AM
QUOTE Originally Posted by lemonsky:

And as of today Steve Wynn severed ties to PokerStars. Van, I don't know if I'd hold my breath about legalization. For it to have any chance, there needs to be a Democrat occupying 1600 Pennsylvania Avenue as well as Democratic majorities in the House and Senate, possibly a filibuster-proof majority in that chamber. Practically all Republicans serving in Congress are religious zealots or kowtow to them (like member of the tribe, Eric Cantor). There are only a smattering of Senate Rs that may vote for legalizing online poker like Scott Brown of Massachusetts and Susan Collins and Olympia Snowe of Maine but that's practically it. Don't forget that the UIGEA was pushed through by VA Republican Goodlatte in 2006. And yes, many Democrats voted for it because gambling is so stigmatized, voting "nay" may have been frowned upon but this kind of law would never have been introduced by a Democratic-led House or Senate.

But if anything is going to be legalized, it's poker only. There is no way in the abysmal depths of hell that sports wagering will ever be legal outside of Nevada. Even though tens of millions enjoy it, Republicans and Democrats, it's too politically radioactive to touch because of the visceral stigma associated with it.

 P.S. Sorry if anything went awry with this post because I'm typing this from my iPhone and had to employ some cut-and-paste trickery for my comment to go through.


  didn't you jokers just HAVE a majority? LMFAO!!!!!!!!!
Renton2010 PM Renton2010
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Posted: 4/16/2011 12:16:15 AM
QUOTE Originally Posted by RichardA:



  didn't you jokers just HAVE a majority? LMFAO!!!!!!!!!

Seek help. 
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