What my crystal ball says about how this will all play out

[Mr.Smith]

money coming IN is not funding offshore gambling.

 

[nimue77]

What the hell does that help? Neteller won't transact with that bank account unless you prove your a resident of canada.

First off, the costs of a new address are nearly $0. Your Canadian bank doesnt even have to go to a Canadian address - in fact if your ID says your US address, it mails to there. (You can change it later if you like, but why...)

All 3 major Canadian banks give you an ATM card the day you open an account. All three also allow you to write checks and send EFTs.

Thus your costs are: getting there once ($200-500), $2 per ATM if you go that route (Free if checks), and about $10-20 for a phone (VOIP or prepaid cell)

Regarding HR4777, well that would suck!

I don't think it will happen for 4 reasons:

1. The gov is gonna be content with no Pinnacle, no neteller, etc... They really don't give a shit if a few people alope to other countries... They have knocked out 90%.

2. We simply don't have the jail space.

3. The republicans saw what happened in the elections. Highly doubt they want to bring it up again and if they do, the dems will be like, you fucking idiots, we are at war and Korea is building nukes...

4. It is a major violation of the constitution and state rights. This is mostly why it was not included last time... The key to the wire act is you have to accept bets on wires crossing state lines. The key to the banking act is that the Federal Government is given constitutional right to regulate banks. If they want to pass a though shall not gamble act, they need an admendment like prohibition required.

-Sean

 

[sean1]

Nevermind. Do not believe me if you do not want to. If you like though, I'd be happy to call you from Ontario.

 

[Seymour]

Iceman, when you say you cashed these checks - you mean you took a check from a bank other than yours and your bank let you cash it because you have funds in your account - if so, why not just deposit them in your account - or did you go to the bank they were drawn on and cash them at that bank? thanks

 

[Mr.Smith]

I take it back about that $10 million never being funded. Knowing how our govt now works, some of it probably will be. Like this;

Bank of America bribes the right senator or donates to his campaign fund $1 million. Then they publicly announce how they are deeply committed towards protecting children ( GAG!) and stopping the crack cocaine of internet gambling and greatly need funds to educate their employees about the dangers of doing on-line gaming transactions. Bribed senator sanctimonously agrees to grant BOA $2 million of the alloted 10 million and thanks them profusely for being such a good example of law abiding upstanding American virtues.

BOA prints $100,000 worth of pamplets telling employees not to do any transactions that appear to be offshore gambling related and has these posted in employee break rooms at their branches.

BOA pockets the other $1.9 million. Everybody wins!

Except the US taxpayer, but nobody in Washington gives a crap what they think or want.

 

[dialitup]

Argghhh.. What a mess.

In any case, here's how I think it will all play out.

For years, the US government has wanted to stop online gambling for whatever reason. They have failed over and over.

The government has proven they will not go to other countries to arrest bookmakers, but they will arrest them if they come here.

Well with only a few bookmakers coming here, what could the government do?

You guessed it, they targetted banks. We are all correct that the new law is impossible to enforce, but guess what, the government does not have to enforce it. All they have to do is brew fear.

So what's the easiest way to brew fear? Arrest the Neteller founders and charge them with money launderers.

Could the government block EFTs or wires or checks? Impossible, but if the major banks are scared, enough will block them that players will get sick of delayed payments and missing money.

Since the arrests:

Neteller has lost its EFT processors
No bank will write checks for them in USD.
They can not send USD EFTs elsewhere since all USD transactions clear in the US.
Their ATM processor turned off their card and Betjm card.

I know of at least 5 people who have been questioned when depositing checks.
I know at least one person who had a wire rejected by a US bank and returned to the sender.

The US government can not shut down sportsbooks, but they have basically said our banks will not be used to fund these establishments.

So where does that leave us?

Bottom line is it is a real bitch for sportsbooks to move money to and from the US and a number of them are waiting on Neteller for money.

After the Superbowl, you will see some books fold. Some will pay. Some will not.

Several months later, the industry will restabilize. By March or so, you'll know who is sticking around and who is out of here.

At that point, anyone who wants will be able to safely play offshore again.

If you are a small player, you will always be able to use western union, send small/receive small checks, Fedex cash (Dont laugh), use money gram, etc. You might even see some more fly by night WU type companies open up.

If you are a large player, the above does you no good. Basically, your own option is to move your operations to another country. Thankfully, as previously discussed there are many other countries that are more than happy to oblige and neteller is more than happy to keep having you.

It is my opinion that neteller is solvent. It is also my opinion that they do not want to make any "illegal" transaction after the arrest and statement from the DOJ that they were breaking the law. Eventually, I believe someone will sue neteller and get a court order for them to be able to dispense funds. When that happens, Neteller should have little problem finding a bank under court ok happy to make the money processing them.

Anyways, those are my thoughts. I figure in mid march about 75% of the books that are operating now will be operating and those who are serious about having unrestricted banking will simply be operating elsewhere while the recreational bettor will always be able to use WU and small checks.

Good luck!

Sean

Shut up. You are not rooting for anybody to get paid, and you have no idea what you are talking about. Me, I'm rooting for everyone to get stiffed and many books to go under, as well as people at Neteller going to jail.

I love a trainwreck and I will admit it. You got your money out in time so shut up and stop acting like you care.

I hope everyone goes broke.

 

[Woody0]

Mr. Smith, it is absolutely illegal for banks to take in checks and wires from gambling offshore - punishable by fines.

BS, this was never in the UIGEA. The Act only concerned funding books and not collecting from them.

Now you might claim a bank receiving funds from offshore gambling is liable to be cited as accessory to money laundering, but then I doubt DOJ wants to cripple the US banking system. This is however an entirely different matter unrelated to recent legislation.

 

[Seymour]

There should be an age requirement to post here.

 

[CHOPTALK]

Shut up. You are not rooting for anybody to get paid, and you have no idea what you are talking about. Me, I'm rooting for everyone to get stiffed and many books to go under, as well as people at Neteller going to jail.

I love a trainwreck and I will admit it. You got your money out in time so shut up and stop acting like you care.

I hope everyone goes broke.

Your a fucking retard idiot!!!!

 

[Iceman]

Iceman, when you say you cashed these checks - you mean you took a check from a bank other than yours and your bank let you cash it because you have funds in your account - if so, why not just deposit them in your account - or did you go to the bank they were drawn on and cash them at that bank? thanks

not sure how I wrote this earlier but they gave me an attitude when I went to deposit it (I didn't want the money) at my bank saying that it would be around 8 weeks for it to clear. I am not even sure it would have cleared or would have beem denied. This is when I got mad. She said a check from a foreign country (it was from Canada) of $500 or more has to be sent somewhere (not sure where she said) and this is when I asked for a supervisor and said I was done using their bank if this was going to be the case. She then okay'd it but I thought it was weird and was wondering if I should have an alibi next time. Its hard enough to keep track of all this crap right now and I didn't want to have to wait another 8 weeks worrying/thinking about this. Will keep you posted on next attempt as I have a few out there.

 

[sean1]

Dialup, it is so nice of you to join this month and act like an asshole...

 

[Anti-liberal]

3. The republicans saw what happened in the elections. Highly doubt they want to bring it up again and if they do, the dems will be like, you fucking idiots, we are at war and Korea is building nukes...
-Sean

LOL...You overestimate the virtue of the Democratic Party. Lately, they've managed to find the time to make an attempt to resurrect the Fairness Doctrine. They could pass more anti-gambling legislation. Many democrats voted to pass the anti-gambling legislation last October. It passed overwhelmingly in the House of Reps.

I expect more anti-gaming legislation; this time targeting the player. I hope I'm not right.

 

[dialitup]

Your a fucking retard idiot!!!!

Better to root for a trainwreck and admit it then to act like you care when you really don't.

Everybody is out for themselves when it comes to gambling and money. I don't wish for any particular person to go broke....just everyone to get stiffed. There are a few people I hope don't get stiffed, but it is either all or nothing so I will root for a total derailment.

Nothing worse than someone who is insincere about other people's well-being.

:realtongu :youmad: :bigfinger

 

[dialitup]

Dialup, it is so nice of you to join this month and act like an asshole...

We know you don't care, so admit it.:youmad:

 

[Woody0]

Eventually, I believe someone will sue neteller and get a court order for them to be able to dispense funds. When that happens, Neteller should have little problem finding a bank under court ok happy to make the money processing them.

I don't think that can happen.

If suit is brought in the US there is no incentive for NETeller, a foreign company not doing business within the US, to defend, especially if they expose themselves to arrest.

If suit is brought elsewhere, Isle of Man, UK, there is no reason for a US court to subsequently enforce the decision of a foreign court.

 

[Anti-liberal]

Better to root for a trainwreck and admit it then to act like you care when you really don't.

Everybody is out for themselves when it comes to gambling and money. I don't wish for any particular person to go broke....just everyone to get stiffed. There are a few people I hope don't get stiffed, but it is either all or nothing so I will root for a total derailment.

Nothing worse than someone who is insincere about other people's well-being.

:realtongu :youmad: :bigfinger

LOL...Be honest, please. You're a Democrat, right?

You're kind of on the money about one thing...most people see as far as the end of their nose.

 

[dialitup]

LOL...Be honest, please. You're a Democrat, right?

You're kind of on the money about one thing...most people see as far as the end of their nose.

Non-Voter here. Like George Carlin says: "If you vote, then you can't complain".

Would lean Democrat probably. Definition of a Civil Libertarian? Answer: A Republican under investigation.

Politics in general....sucks. It is the land of the insincere. Politics is like religion....who cares?

 

[Anti-liberal]

Politics in general....sucks. It is the land of the insincere. Politics is like religion....who cares?

You better find something to care about, other than yourself, and do it quick. In a short while, it will be is if none of us were ever even here. Start appreciating the little things in life and give thanks that you don't live in squalor like so many of the less fortunate people in the world.

 

[nhoj]

Becarful with Fedex. They love to give any info requested to the government. They will also open packages and report what is in them to the feds. Bought some sat cards from canada and had this happen before.

 

[dialitup]

You better find something to care about, other than yourself, and do it quick. In a short while, it will be is if none of us were ever even here. Start appreciating the little things in life and give thanks that you don't live in squalor like so many of the less fortunate people in the world.

Neteller balances are meaningless in the scheme of things. I try to turn it into a fun event. I tried to explain this to people who are insincere. I can hardly think of any gambler who ever cared if someone else went busted.

Away from gambling we all have our own lives and do what we want to. Most people who have the money in gambling just keep the wheels greased and the machine rolling. People think they are legends, but it is easy to have a bunch of causes and act like you care when you are getting free money from gamblers.

Like the Pig Farmer Calvin Ayre.

I want to see one person who lost it all cut another person a break when it comes to case-money.

It's all about keeping the wheels turning if you are taking the bets, and it's all about staying in action if you are making them.

Remember BetonSports? Nobody came to rescue....not for the sake of helping out. If anybody did anything to help the Stiffees, then it was for bottom-line purposes only.

Neteller will be the same thing. DO you think anybody associated with the books cares if all of the player's family members die? Or someone loses their house?

Nope....no big deal. The truth is fun.