In Response to Re: DOJ indicts U.S. poker sites : try and take any victory you can get eh. Pleasy explain what cheating has gone on? Everyone knew it was illegal in the US anyway. Posted by offshoot
Bank Fraud and laundering billions of $'s in illegal gambling proceeds, it was the way they conducted business not the actual business that has given the DOJ an open goal here. Paying favourable fees and/or buying equity stakes in failing banks (bribery) to ensure payment processing, disguising poker transactions as jewellery and golf purchases to trick regulators and banks into processing billions of dollars in illegal internet gambling proceeds. Enough cheating for you here?
Just read about it now i don,t understand why its banned in the US anyway. Vegas is the home of gambling and celebrated , so whats wrong with a little online poker if its regulated properly Sounds to me like some greedy business men don,t want to pay taxes (3 billion i heard) and its the little people who will probaly pay for it . I,ll stick to Sky Posted by MP33
In most countries within the world Gambling Profits are not Tax-able.
However in America it is. So i guess if your in Vegas before they hand you your winnings i guess they deduct tax. This wouldnt be quite so easy online as only one or two nations would be getting taxed the rest wouldnt.
Therefore i guess since they cant tax on it they made it illeagal.
So for all i think the sites may have done wrong, i think the goverment is just bashing for money. I mean you name me one company in the world who could afford to pay $3Bil in taxes and still survive?
Although as many state i fear the worse, if the FBI has taken this on now, really it could well be a knock on effect throughout the world. If they dont act on other sites that dont even operate within the US (e.g. Sky, 888 etc.) then it may well be the case that PS, FTP, UB etc may have a defence against at least one of their charges.
Therefore i likley see most Poker sites having to go to some sort of International Court thing, Much like the piracy things that keep cropping up.
Their going to berry us back to the days where you carried guns to back street games if their not careful.
A few pokersites online or a donzen murders a week over a game of cards. I know what i would choose, but then i wouldnt know how to spend $3Bil.
EDIT: Just read on 2+2 and someone said American taxes due next week. Hmmm, sham if u ask me.
Poker players in the US do pay tax. It doesnt matter one bit if one country pays tax and the other doesnt, different laws in different places. In fact the UK is one of the rare places where you dont pay taxes on gambling winnings. A lot of europe do.
This isnt about taxes. Its about the 3 pokersites still providing service to the US through illegal means. Those pokersites want legalisation and to be taxed so that they can operate freely in the US. Obviously a lot of people dont want this to happen, like the big vegas casinos and anti gambling religious groups/politicians using it as a way to garner support by being anti-online gambling.
This has nothing to do with other pokersites who dont operate in the US so there will be no huge knock on effect apart from maybe migration of players to different sites. Its the US gov going after the sites who continued to operate in the US after the UIGEA. Most likely whats happening is the government is shutting down these sites for a payday and then will introduce state regulated gambling where they recieve most of the profits.
PS, FTP and UB have no defense don. They broke the law by using illegal means to pay out to players. Sky etc dont allow US players so how could PS and co use that as a defense? This doesnt affect UK laws in the slightest. THe only way your gonna notice the difference is if you play on those sites, and the difference will be a lack of US players. The sites arent shutting down and will still offer play to the rest of the world. This only concerns the US. The FBI/DoJ cant change the laws of other countries.
Poker players in the US do pay tax. It doesnt matter one bit if one country pays tax and the other doesnt, different laws in different places. In fact the UK is one of the rare places where you dont pay taxes on gambling winnings. A lot of europe do. This isnt about taxes. Its about the 3 pokersites still providing service to the US through illegal means. Those pokersites want legalisation and to be taxed so that they can operate freely in the US. Obviously a lot of people dont want this to happen, like the big vegas casinos and anti gambling religious groups/politicians using it as a way to garner support by being anti-online gambling. This has nothing to do with other pokersites who dont operate in the US so there will be no huge knock on effect apart from maybe migration of players to different sites. Its the US gov going after the sites who continued to operate in the US after the UIGEA. Most likely whats happening is the government is shutting down these sites for a payday and then will introduce state regulated gambling where they recieve most of the profits. PS, FTP and UB have no defense don. They broke the law by using illegal means to pay out to players. Sky etc dont allow US players so how could PS and co use that as a defense? This doesnt affect UK laws in the slightest. THe only way your gonna notice the difference is if you play on those sites, and the difference will be a lack of US players. The sites arent shutting down and will still offer play to the rest of the world. This only concerns the US. The FBI/DoJ cant change the laws of other countries. Posted by offshoot
I read lots of the thread on 2+2, and they seemed to conclude that all the sites would be shut down within 48 hours.
It wont end online poker. There is still a massive market out there. Just means for the time being that US players won't be able to play. Until an agreement is reached to legalise it that is.
Some states in America had alledgedly just legalized poker and some land based casinos have launched online.
Doh - It was ESPN i think that said they would be shutdown but the sites are saying everything is gonna carry on as normal for the rest of the world. Stars released a statement on their website i think saying it if you wanna go have a look.
Scrumdown - Papers are talking about the USA. THis has nothing to do with any other site than stars tilt and UB/Absolute. No otherr sites are affected in any way. This kind of "the sky is falling" talk was exactly the same when the UIGEA was passed and then things carried in as normal. This is a lot worse, but only for americans really. ITs obviously not gonna be permanent either. A billion dollar industry isnt just gonna disappear because of this. All thats happening is the landscape is changing.
Doh - It was ESPN i think that said they would be shutdown but the sites are saying everything is gonna carry on as normal for the rest of the world. Stars released a statement on their website i think saying it if you wanna go have a look. Scrumdown - Papers are talking about the USA. THis has nothing to do with any other site than stars tilt and UB/Absolute. No otherr sites are affected in any way. This kind of "the sky is falling" talk was exactly the same when the UIGEA was passed and then things carried in as normal. This is a lot worse, but only for americans really. ITs obviously not gonna be permanent either. A billion dollar industry isnt just gonna disappear because of this. All thats happening is the landscape is changing. Posted by offshoot
Ahhhh so there's been developments overnight then. I'll catch up now.
Just 1 more thing though (as knowing who/what to believe on 2+2 is impossible).....
There was alot of talk on there from euro players about tournys having massive overlay.
Is this true, have you noticed this, or haven't you looked?
Have they adjusted the guarantees to allow for the lack of US players?
And would you actually advise depositing to try and take advantage??? Or would this just be krackers??
i havent checked but i iimagine they are smart enough to adjust the guarantees as soon as they blocked the US players. Might have a look later to see if there is any overlay though, you never know.
Obviously everyone in the dark with regards to whats going on but stars say the money is safe. I think they keep it in a seperate accounts at RBS but im guessing with the massive amount of withdrawals trying to be processed i doubt it will be easy to get money off the site for a while. I wouldnt put any significant sum on there if youre wanting to withdraw it soon. Also you never know how things are gonna change in the near future so its a gamble.
If you put any money into these sites at the moment - you're crackers. If you have money on these sites you can play with that but whether you will ever see it again is debatable. This is like a run on a bank. If you can get your money out do it but don't put money in.
From what I read it's not just the sites it's also some financial institutions/banks. This won't effect any money you have in the major banks but if you have deposits on say neteller then I would get them out while you can just to be safe.
It could well rebound to other sites besides the three mentioned as they all have links in some form or other. Poker Stars for instance is regulated by the Alderney G C C, as is Sky and a lot of other sites. Who knows what may be uncovered when the investigation gets into top gear.
WRT overlays in tournaments; I final tabled two tournaments last night with $10k+ overlays for some decent cashes, and played half a dozen more with $5k+ overlays. Sunday tournaments tomorrow will hopefully continue unadjusted, and the FTOPS event is $3m with $216 buyin. Personally I think this tournament will have upwards of a $1m overlay.
For everyone who says its to do with taxes; it's not. Offshoot is perfectly on the ball here, it's to do with illegal transactions to move money around within the USA after the UIGEA passed.
Elsadog, you are continuing to act like the sky is falling. There will be minimal knock-on effects because its not illegal in the UK for poker websites to process deposits etc, no matter who regulates who, no other webites are breaking the law in their territory thus the USA DoJ have no power and there is no consequences to be afraid of.
as far as im aware the only banks in trouble are the small US ones used to get the money to US players. Im not sure but i dont think this will affect UK transactions. Stuff like Neteller is risky though.
Elsa: Your last paragraph is nonsense. How does the fact that they are regulated by the same company have any relevance? The investigation isnt gonna check how rigged the RNG is (no matter how much you want them to.) All they care about is the illegal activity of the sites in the US and how they got round the UIGEA. There is not gonna be some worldwide investigation into poker. Theyre just gonna try and arrest the people at the top and make them pay hefty fines probably.
edit: what coxy said. Also overlays! yay! I cant see them going on too long though.
Hey im a player from the UK, theres been alot of rumours going around the forums that theres gonna be cash out issues from now on. I am assuming these are false, and although there may be issues with players from USA at the moment, UK players are still fine to deposit and withdraw as usual? /> Thanks for some info
Thank you for your email. We appreciate your concern.
PokerStars is owned and operated by a legal entity licensed and located in the Isle Of Man (a crown dependency of the United Kingdom) and we pride ourselves in abiding by all relevant laws and regulations. The current situation about which you have inquired only impacts US Players.
PokerStars will continue to offer its services to all other jurisdictions. As we are not a law firm, it is difficult for us to advise our customers as to the legal situation in every jurisdiction, however the recent change is not targeted in any way at your jurisdiction.
Most importantly, rest assured your funds are safe with PokerStars and will be accessible to you whenever you may wish to withdraw.
We will keep all of our players up-to-date with any future developments.
We sincerely appreciate your understanding and concern, and thank you for choosing PokerStars.
For everyone who says its to do with taxes; it's not. Offshoot is perfectly on the ball here, it's to do with illegal transactions to move money around within the USA after the UIGEA passed.
And why was the UIEGA passed?
Because te government wanted control so they could tax as and when they want.
You can bet your life that sooner rather than later sites will be allowed to operate legally in the US for a price. Party already paid what, £100 million or something? They will go legite. Hustlers last night announed they are going to open online and was it washington? who only just announced they are legalising online gambling.
This all comes down to the US wanting to control the gaming industry and governments only ever want control if 1) it benefits its citizens and means they can get more votes from it, or 2) they can make money from it.
WRT overlays in tournaments; I final tabled two tournaments last night with $10k+ overlays for some decent cashes, and played half a dozen more with $5k+ overlays. Sunday tournaments tomorrow will hopefully continue unadjusted, and the FTOPS event is $3m with $216 buyin. Personally I think this tournament will have upwards of a $1m overlay. For everyone who says its to do with taxes; it's not. Offshoot is perfectly on the ball here, it's to do with illegal transactions to move money around within the USA after the UIGEA passed. Elsadog, you are continuing to act like the sky is falling. There will be minimal knock-on effects because its not illegal in the UK for poker websites to process deposits etc, no matter who regulates who, no other webites are breaking the law in their territory thus the USA DoJ have no power and there is no consequences to be afraid of. Posted by CoxyLboro
Acting like the sky is falling in LOL.
I've said little different to you. Putting money into these sites at the moment would be foolish. You have no more idea about the financial implications of all this than I do. Would you put your money into a bank that had just had it's assets seized? I am promoting some caution until things are settled. We will know more next week when those who have tried to withdraw money either get it or don't.
If you want to advise everyone to get in there for the overlays - brave man you.
Quoted from 2+2; I email stars to find out a little info. Hey im a player from the UK, theres been alot of rumours going around the forums that theres gonna be cash out issues from now on. I am assuming these are false, and although there may be issues with players from USA at the moment, UK players are still fine to deposit and withdraw as usual? /> Thanks for some info Thank you for your email. We appreciate your concern. PokerStars is owned and operated by a legal entity licensed and located in the Isle Of Man (a crown dependency of the United Kingdom) and we pride ourselves in abiding by all relevant laws and regulations. The current situation about which you have inquired only impacts US Players. PokerStars will continue to offer its services to all other jurisdictions. As we are not a law firm, it is difficult for us to advise our customers as to the legal situation in every jurisdiction, however the recent change is not targeted in any way at your jurisdiction. Most importantly, rest assured your funds are safe with PokerStars and will be accessible to you whenever you may wish to withdraw. We will keep all of our players up-to-date with any future developments. We sincerely appreciate your understanding and concern, and thank you for choosing PokerStars. Regards, ElsaDog PokerStars Support Team Posted by CoxyLboro
as far as im aware the only banks in trouble are the small US ones used to get the money to US players. Im not sure but i dont think this will affect UK transactions. Stuff like Neteller is risky though. Elsa: Your last paragraph is nonsense. How does the fact that they are regulated by the same company have any relevance? The investigation isnt gonna check how rigged the RNG is (no matter how much you want them to.) All they care about is the illegal activity of the sites in the US and how they got round the UIGEA. There is not gonna be some worldwide investigation into poker. Theyre just gonna try and arrest the people at the top and make them pay hefty fines probably. edit: what coxy said. Also overlays! yay! I cant see them going on too long though. Posted by offshoot
I wasn't alluding to risky RNG's. These are complex businesses. They have apparently used off-shore accounts to launder money. The Isle of man and Jersey are better known for their off-shore accounts and tax havens than they are for poker regulators. Whether these off-shore accounts are implicated is anyones guess and may prove to be the case. In cases of financial fraud the arm of the law stretches across international boundaries.
Quoted from 2+2; I email stars to find out a little info. Hey im a player from the UK, theres been alot of rumours going around the forums that theres gonna be cash out issues from now on. I am assuming these are false, and although there may be issues with players from USA at the moment, UK players are still fine to deposit and withdraw as usual? /> Thanks for some info Thank you for your email. We appreciate your concern. PokerStars is owned and operated by a legal entity licensed and located in the Isle Of Man (a crown dependency of the United Kingdom) and we pride ourselves in abiding by all relevant laws and regulations. The current situation about which you have inquired only impacts US Players. PokerStars will continue to offer its services to all other jurisdictions. As we are not a law firm, it is difficult for us to advise our customers as to the legal situation in every jurisdiction, however the recent change is not targeted in any way at your jurisdiction. Most importantly, rest assured your funds are safe with PokerStars and will be accessible to you whenever you may wish to withdraw. We will keep all of our players up-to-date with any future developments. We sincerely appreciate your understanding and concern, and thank you for choosing PokerStars. Regards, Elias PokerStars Support Team Posted by CoxyLboro
OH well, That's a relief then!
What did you expect them to say? ''We're all doomed - get your money out quick''
I remember Maxwell telling all his employees that their pensions were ring-fenced and safe. It's the line companies take when they are in trouble. Naivety FTW.
this is good for the europe people. means that the sites will be fishier. But the question is how long is it going to be when europe follows in there footsteps.
Oh no what a shame, how on earth are all the sponsored pro's going to get to the next WPT in Florida, or Aruba at the end of the month? Surely they won't be expected to pay the buyin out of their own pockets!!
I just hope this means we might get to watch a tourney on TV where all the players aren't wearing multi coloured vests with "Jokerstars" and "Full Tricks Poker"
http://www.foxbusiness.com/technology/2011/04/15/goes-versus-online-poker-sites/ Oh no what a shame, how on earth are all the sponsored pro's going to get to the next WPT in Florida, or Aruba at the end of the month? Surely they won't be expected to pay the buyin out of their own pockets!! I just hope this means we might get to watch a tourney on TV where all the players aren't wearing multi coloured vests with "Jokerstars" and "Full Tricks Poker" Posted by SighKO
I wore a badge with "Al's Bar" , at the GUKPT London LOL
Comments
Just read about it now
i don,t understand why its banned in the US anyway.
Vegas is the home of gambling and celebrated , so whats wrong with a little online poker if its regulated properly
Sounds to me like some greedy business men don,t want to pay taxes (3 billion i heard) and its the little people who will probaly pay for it .
I,ll stick to Sky
However in America it is. So i guess if your in Vegas before they hand you your winnings i guess they deduct tax. This wouldnt be quite so easy online as only one or two nations would be getting taxed the rest wouldnt.
Therefore i guess since they cant tax on it they made it illeagal.
So for all i think the sites may have done wrong, i think the goverment is just bashing for money. I mean you name me one company in the world who could afford to pay $3Bil in taxes and still survive?
Although as many state i fear the worse, if the FBI has taken this on now, really it could well be a knock on effect throughout the world. If they dont act on other sites that dont even operate within the US (e.g. Sky, 888 etc.) then it may well be the case that PS, FTP, UB etc may have a defence against at least one of their charges.
Therefore i likley see most Poker sites having to go to some sort of International Court thing, Much like the piracy things that keep cropping up.
Their going to berry us back to the days where you carried guns to back street games if their not careful.
A few pokersites online or a donzen murders a week over a game of cards. I know what i would choose, but then i wouldnt know how to spend $3Bil.
EDIT: Just read on 2+2 and someone said American taxes due next week. Hmmm, sham if u ask me.
This isnt about taxes. Its about the 3 pokersites still providing service to the US through illegal means. Those pokersites want legalisation and to be taxed so that they can operate freely in the US. Obviously a lot of people dont want this to happen, like the big vegas casinos and anti gambling religious groups/politicians using it as a way to garner support by being anti-online gambling.
This has nothing to do with other pokersites who dont operate in the US so there will be no huge knock on effect apart from maybe migration of players to different sites. Its the US gov going after the sites who continued to operate in the US after the UIGEA. Most likely whats happening is the government is shutting down these sites for a payday and then will introduce state regulated gambling where they recieve most of the profits.
PS, FTP and UB have no defense don. They broke the law by using illegal means to pay out to players. Sky etc dont allow US players so how could PS and co use that as a defense? This doesnt affect UK laws in the slightest. THe only way your gonna notice the difference is if you play on those sites, and the difference will be a lack of US players. The sites arent shutting down and will still offer play to the rest of the world. This only concerns the US. The FBI/DoJ cant change the laws of other countries.
You will also probably find that some of the land based casinos will instantly spring up legally soon, paying taxes etc.
I think this has always been about taxes and nothing more
Until an agreement is reached to legalise it that is.
Some states in America had alledgedly just legalized poker and some land based casinos have launched online.
This is just to lock up more taxes
Scrumdown - Papers are talking about the USA. THis has nothing to do with any other site than stars tilt and UB/Absolute. No otherr sites are affected in any way. This kind of "the sky is falling" talk was exactly the same when the UIGEA was passed and then things carried in as normal. This is a lot worse, but only for americans really. ITs obviously not gonna be permanent either. A billion dollar industry isnt just gonna disappear because of this. All thats happening is the landscape is changing.
Obviously everyone in the dark with regards to whats going on but stars say the money is safe. I think they keep it in a seperate accounts at RBS but im guessing with the massive amount of withdrawals trying to be processed i doubt it will be easy to get money off the site for a while. I wouldnt put any significant sum on there if youre wanting to withdraw it soon. Also you never know how things are gonna change in the near future so its a gamble.
WRT overlays in tournaments; I final tabled two tournaments last night with $10k+ overlays for some decent cashes, and played half a dozen more with $5k+ overlays. Sunday tournaments tomorrow will hopefully continue unadjusted, and the FTOPS event is $3m with $216 buyin. Personally I think this tournament will have upwards of a $1m overlay.
For everyone who says its to do with taxes; it's not. Offshoot is perfectly on the ball here, it's to do with illegal transactions to move money around within the USA after the UIGEA passed.
Elsadog, you are continuing to act like the sky is falling. There will be minimal knock-on effects because its not illegal in the UK for poker websites to process deposits etc, no matter who regulates who, no other webites are breaking the law in their territory thus the USA DoJ have no power and there is no consequences to be afraid of.
Elsa: Your last paragraph is nonsense. How does the fact that they are regulated by the same company have any relevance? The investigation isnt gonna check how rigged the RNG is (no matter how much you want them to.) All they care about is the illegal activity of the sites in the US and how they got round the UIGEA. There is not gonna be some worldwide investigation into poker. Theyre just gonna try and arrest the people at the top and make them pay hefty fines probably.
edit: what coxy said. Also overlays! yay! I cant see them going on too long though.
Hey im a player from the UK, theres been alot of rumours going around the forums that theres gonna be cash out issues from now on. I am assuming these are false, and although there may be issues with players from USA at the moment, UK players are still fine to deposit and withdraw as usual?
/> Thanks for some info
Thank you for your email. We appreciate your concern.
PokerStars is owned and operated by a legal entity licensed and located in the Isle Of Man (a crown dependency of the United Kingdom) and we pride ourselves in abiding by all relevant laws and regulations. The current situation about which you have inquired only impacts US Players.
PokerStars will continue to offer its services to all other jurisdictions. As we are not a law firm, it is difficult for us to advise our customers as to the legal situation in every jurisdiction, however the recent change is not targeted in any way at your jurisdiction.
Most importantly, rest assured your funds are safe with PokerStars and will be accessible to you whenever you may wish to withdraw.
We will keep all of our players up-to-date with any future developments.
We sincerely appreciate your understanding and concern, and thank you for choosing PokerStars.
Regards,
Elias
PokerStars Support Team
Because te government wanted control so they could tax as and when they want.
You can bet your life that sooner rather than later sites will be allowed to operate legally in the US for a price.
Party already paid what, £100 million or something? They will go legite.
Hustlers last night announed they are going to open online and was it washington? who only just announced they are legalising online gambling.
This all comes down to the US wanting to control the gaming industry and governments only ever want control if 1) it benefits its citizens and means they can get more votes from it, or
2) they can make money from it.
I've said little different to you. Putting money into these sites at the moment would be foolish. You have no more idea about the financial implications of all this than I do. Would you put your money into a bank that had just had it's assets seized? I am promoting some caution until things are settled. We will know more next week when those who have tried to withdraw money either get it or don't.
If you want to advise everyone to get in there for the overlays - brave man you.
OH well, That's a relief then!
What did you expect them to say? ''We're all doomed - get your money out quick''
I remember Maxwell telling all his employees that their pensions were ring-fenced and safe. It's the line companies take when they are in trouble. Naivety FTW.
So I wouldn't bother playing any big money games on these sites until we all know what's going on!