US Government clamping down on online poker?

[cianosheehan]

Hi,
My dad told me he read about the US Governemnts plans to clamp down on online poker. He said they plan on making it illegal for banks to process transactions to online poker sites. Any more on this?

[tubalkain]

They've already done it... why do you think Neteller makes so much of a killing?

[evans075]

[ QUOTE ]
They've already done it... why do you think Neteller makes so much of a killing?

[/ QUOTE ]

Have they already done it, because you can still deposit through E-Checks on party and technically that is a transaction b/t an online poker site and your bank.

[CarlSpackler]

I make deposits/withdrawals electronically from my checking account. I play at Party. I don't want to pay Neteller's fees.

[Nottom]

[ QUOTE ]
I make deposits/withdrawals electronically from my checking account. I play at Party. I don't want to pay Neteller's fees.

[/ QUOTE ]

I play on Party. I use Neteller. I have never payed them a fee.

[benfranklin]

[ QUOTE ]
I make deposits/withdrawals electronically from my checking account. I play at Party. I don't want to pay Neteller's fees.

[/ QUOTE ]

Neteller doesn't charge you any fees unless you use their instant cash funding or if you use their ATM card. Any other fees are paid by the poker site.

[flair1239]

Businessweek Article (http://www.businessweek.com/bwdaily/dnflash/feb2005/nf20050225_9794_db039.htm)

[AsiaKurosawa]

He's likely referring to Sen. Kyl's newest incarnation (8th try) of the anti-online gambling bill, which includes specific barriers to US banks providing funding sources for online gambling...

UK Independent article on Kyl bill, impact on IPO (http://news.independent.co.uk/business/news/story.jsp?story=646494)

The threat has affected the IPO, as today its offering came in at less than the speculated 10bn. (billions less, but still in billions range).

Asia K
www.GamesGrid.com (http://www.GamesGrid.com)

[Luv2DriveTT]

[ QUOTE ]
Hi,
My dad told me he read about the US Governemnts plans to clamp down on online poker. He said they plan on making it illegal for banks to process transactions to online poker sites. Any more on this?

[/ QUOTE ]

Yes. Even though congress keeps trying to enact the bill, the WTO already ruled against the USA. In short, we have to force compience reguardless of the American law - link (http://www.igamingnews.com/index.cfm?page=artlisting&tid=5896)

TT /images/graemlins/club.gif

[BottlesOf]

If the US ignored thew WTO ruling and told the WTO to [censored] off, it wouldn't be a big deal.

[ QUOTE ]
compience

[/ QUOTE ]

what?

[Luv2DriveTT]

[ QUOTE ]
If the US ignored thew WTO ruling and told the WTO to [censored] off, it wouldn't be a big deal.

[ QUOTE ]
compliance

[/ QUOTE ]

what?

[/ QUOTE ]

fixed your fixing of my post.

TT /images/graemlins/club.gif

[sublime]

artie!

[Cubswin]

My dad told me he read about the US Governemnts plans to clamp down on online poker. He said they plan on making it illegal for banks to process transactions to online poker sites. Any more on this?

AZ senator Kyl's bill, in some shape or form, has been brought before every Congress since 1995. It is still not law and i dont see it becoming law anythime soon.

This has not stopped the executive branch from being proactive in trying to go after egaming though. The US DoJ has seized advertising funds sent from paradise poker to the discovery channel and has sent threatening letters to media outlets that the same thing would happen to them if they accepted money for egaming advertisng. obviously, the media outlets dont think there is much law to back up the legal contentions of the DoJ because they continue to accept advertising money from these sources.

It has become more difficult to fund egaming because visa and mastercard have cut back on allowing customers to fund egaming with their credit cards. this is partially because they fear prosecution of aiding and abetting under the wire act and partially because credit card fraud with regards to egaming funding was getting to be a little too much for them. it is important to note that US federal courts have ruled that the wire act only applies to sports betting... so either the fraud just got to be too much for the credit card companies or they simply didnt want to deal with what they considered to be a very very grey area of the law and one they didnt want to take any chances on.

so, it seems like both the executive and legislative branches are taking a lot of action with regards to this issue, but in reality, the legislature is just spinning their wheels and the excecutive is just blowing off a lot of hot air.

in my opin... there is nothing to worry about in the short-term. your bigger concern should be with the IRS....

cubs

[Supersetoy]

[ QUOTE ]
He's likely referring to Sen. Kyl's newest incarnation (8th try) of the anti-online gambling bill, which includes specific barriers to US banks providing funding sources for online gambling...

UK Independent article on Kyl bill, impact on IPO (http://news.independent.co.uk/business/news/story.jsp?story=646494)

The threat has affected the IPO, as today its offering came in at less than the speculated 10bn. (billions less, but still in billions range).

Asia K
www.GamesGrid.com (http://www.GamesGrid.com)

[/ QUOTE ]

I tried searching for the IPO and Party's symbol. Are they available for purchase yet?

I'm going to dump all of my money in to that stock ASAP.

[AsiaKurosawa]

[ QUOTE ]
[ QUOTE ]
He's likely referring to Sen. Kyl's newest incarnation (8th try) of the anti-online gambling bill, which includes specific barriers to US banks providing funding sources for online gambling...

UK Independent article on Kyl bill, impact on IPO (http://news.independent.co.uk/business/news/story.jsp?story=646494)

The threat has affected the IPO, as today its offering came in at less than the speculated 10bn. (billions less, but still in billions range).

Asia K
www.GamesGrid.com (http://www.GamesGrid.com)

[/ QUOTE ]

I tried searching for the IPO and Party's symbol. Are they available for purchase yet?

I'm going to dump all of my money in to that stock ASAP.

[/ QUOTE ]

IPO is slated for 6/27; I'm not familiar w/ LSE/FTSE but I think it is only initally being offering in chunks to institutional investors & will trickle down.

FWIW, Empire floated on AIM yesterday.