UIGEA 180 day enforcement

#1 28th May 2007, 7:48 PM

The US govt. is supposed to release guidelines for enforcement coming up in July-- any US players intend to back out a significant portion of bankroll before the deadline?

I am going to keep as little online as necessary until we see what the actual repercussions are. I was lucky to get all my money out of Neteller just days before they confiscated the funds.

The same little voice is telling me not to have too much invested online at the beginning of July....

#2 28th May 2007, 8:06 PM

Ya thats a good idea,,, i thought it was getting close to the 170 or 180 days they had to do it,,, does anybody know what happens if they dont come up with a plan?????>>>>>>>>>>>>>>>>>>>>> buck

#3 29th May 2007, 2:57 AM

Thats the reason Barney Frank is talking repeal... He is head of the House Banking Committee and the banking industry in no uncertain terms has told the government nope... we cant do it. Actually I've been told the wording is a bit stronger than that...

#4 29th May 2007, 1:33 PM

Or should we do the opposite and have as much money online as possible? Don't you think it is likely we would be able to play with what is already there - and that the main issue will be re-loading?

#5 29th May 2007, 3:36 PM

That would be an interesting conundrum for the US Gov't.

OK, I get the prize for being the first guy today to use the word 'conundrum' in a coherent sentence at CC.
And 2nd prize for first to use 'coherent'.

#6 29th May 2007, 6:26 PM

I really need to educate myself a little more on this situation and keep abreast of what's going on. Does anyone have any links to any articles on the situation?

Am I totally offbase with thinking along the same lines as Daks? My thinking is that as long as you have the money on the site and not somewhere like epasseporte, then the site could still cut you a check for withdrawling.

#7 29th May 2007, 6:37 PM

I said this early post-UIGEA and I'll say it again: your money is safe in any of the reputable online poker sites. Withdrawing money would be pointless and possibly even counter-productive (depending on the changes, if there are any - that is). I'd bet that not one of the top10-20 poker rooms on the internet have ANY money in US bank accounts or in any accounts that US officials would be able to touch. You will always be able to withdraw your money one way or another, no matter what happens.

#8 29th May 2007, 10:11 PM

Quote:

Originally Posted by Nick

I said this early post-UIGEA and I'll say it again: your money is safe in any of the reputable online poker sites. Withdrawing money would be pointless and possibly even counter-productive (depending on the changes, if there are any - that is). I'd bet that not one of the top10-20 poker rooms on the internet have ANY money in US bank accounts or in any accounts that US officials would be able to touch. You will always be able to withdraw your money one way or another, no matter what happens.

Thanks Nick,, do You know what happens if they dont come up with anything when that 180 day thing ends??????>>>>>>>>>>>>>>>>>>>>>>>>>>> buck

#9 29th May 2007, 10:14 PM

I know pokerstars has its money in the uk where it cant be touched and a lot of the other sites i am sure have similar arrangments. I think it is the royal bank of scotland if i remember right

#10 30th May 2007, 12:44 AM

Quote:

Originally Posted by buckster436

Thanks Nick,, do You know what happens if they dont come up with anything when that 180 day thing ends??????>>>>>>>>>>>>>>>>>>>>>>>>>>> buck

Good question.

I'm not all too sure that this 180 day mark is of any significance. I believe they can add/enact any part of this bill whenever they please, so really and truely it doesn't matter if they do it within 180 days or not. The 180 day timeperiod was simply the time from when the bill was signed until it actually turned into a law.

#11 30th May 2007, 3:54 PM

Ok, I don't mean to be the alarmist, but Neteller was not US based as far as their banking either, and look what happened there.

You can't see something like Calvin Ayre getting extradited to the US after a failed attempt to visit his native Canada, only to subsequently have Bodog freeze all US accounts, or some similar situation with any other site? I'm not saying this is a realistic probability, just that it is worth thinking about.

Of course these scenarios could happen at anytime, but perhaps US enforcement/vigilance will go up after July?

#12 30th May 2007, 4:50 PM

Quote:

Originally Posted by Nick

Good question.

I'm not all too sure that this 180 day mark is of any significance. I believe they can add/enact any part of this bill whenever they please, so really and truely it doesn't matter if they do it within 180 days or not. The 180 day timeperiod was simply the time from when the bill was signed until it actually turned into a law.

OK Thanks Nick,,,, buck

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