The New Realities for American Sports Bettors

Forum: Gaming Industry - US
Author: [Gaming Industry - US] Topic: The New Realities for American Sports Bettors
Freedom@Stake PM Freedom@Stake
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Posted: 5/30/2011 2:27:55 PM
This is a better way than those damn multiple threads.

Read the blog post here.
teddypadalack PM teddypadalack
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Posted: 5/30/2011 2:58:24 PM
LOCKED...go to the rant thread
Freedom@Stake PM Freedom@Stake
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Posted: 5/30/2011 5:03:11 PM
Bling PM Bling
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Posted: 5/30/2011 9:40:29 PM
Great write up


Though I doubt many of these idiots will read it considering their attention span is about 2 sentences. 
joanne12 PM joanne12
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Posted: 5/30/2011 9:52:04 PM
thank you libtards
UL-LAFAYETTEKID PM UL-LAFAYETTEKID
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Posted: 5/30/2011 10:48:58 PM
nice post freedom.. yes we miss the mid to late 90;s and early 2000;s when moving cash was so much easier both ways..190 posts since 1995.. wow great job.. keep up the good work sir.........
dixonbets PM dixonbets
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Posted: 5/30/2011 11:15:27 PM
God D@#m!
EIGHTYpercent PM EIGHTYpercent
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Posted: 5/31/2011 12:20:31 AM
my online sportsbook is still running, but I'd be lying if I told you I didn't wake up every morning thinking I might log on and see the DOJ stamp.
jhops123 PM jhops123
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Posted: 5/31/2011 10:44:23 AM
I made a deposit and it was not cleared through my bank a/o yet - and my acct had a negative balance in it. Being that it has been seized, should I assume I do not owe the site/anyone money?

I am actually on the other end of players being owed money, so wondering how this would be and if I can move on without the debt of owing them over my head.

A response would be appreciated
BooBunny PM BooBunny
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Posted: 5/31/2011 11:38:36 AM
QUOTE Originally Posted by Freedom@Stake:

This is a better way than those damn multiple threads.

Read the blog post here.



Freedom....

I enjoyed reading your article. Very insightful. My question is that what are the anti-U.S. locations less vulnerable to DOJ. I did not have an account at BetEd but do have one at BETUS which still seems to be operating business as usual after a domain name change. I believe they are out of Costa Rica???

How much at risk is my money there in your opinion??? I will not go broke by losing what I have in there...about $1,000 U.S. and don't want to move money around every few weeks ( I am a $50 to $100 player mostly) but should I get my profits ASAP and keep my balance as low as possible???

Thanks for any input.

drose1 PM drose1
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Posted: 6/1/2011 3:56:03 AM
so would using Western Union to fund your account constitute as money laundering by the sportsbook, in the view of the government?
drose1 PM drose1
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Posted: 6/1/2011 4:01:23 AM
Or no? Because that's not directly in the "U.S. American Banking System"...
Freedom@Stake PM Freedom@Stake
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Posted: 6/1/2011 10:01:50 AM
BooBunny: It's tough to say for certain which jurisdictions are safe. For example, as recently as last fall, I read in a respected journal that Panama would be the last country to share banking info, because it was in such a strong political position as being the home of the Canal that everybody needs.

Not even six months later, Panama signed the deal.

So, here are a couple of links that include the OECD white and grey lists as tax havens, as well as some analysis of different country's privacy laws.

http://www.equiom.im/content/PDFs/Genaral/OECDProgress8June2009.pdf?from=11593338906032834

http://www.isla-offshore.com/going-offshore/tax-havens-information-exchange/

It's interesting to note that Panama is listed as a tax haven on both of these links, which ain't true anymore.


drose: WU is an interesting option. It does avoid the banking system, so the UIGEA does not apply. However, WU got some pressure several years ago to stop dealing with offshore gambling companies, so they self-regulate and will not process gambling transfers.

However, there is no way to for them to know its a gambling payment unless you tell them, so don't tell them, and you should be fine.

BooBunny PM BooBunny
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Posted: 6/1/2011 11:54:17 AM
Thanks Freedom...

I always use Western Union just because I want to keep everything separate from my credit cards and bank accounts.

Seems this may be the best way to go for now. Thanks for the response. Much appreciated.




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