Advice on Pulling money out

#1 13th January 2009, 5:10 PM

What is your advice on pulling money out of the online poker sites without having to face legal implications in the US?

#2 13th January 2009, 5:49 PM

To my knowledge there are no legal implications in the US for pulling money out of online poker sites. Even the UIGEA bill does not outlaw withdrawing money, from what I can remember when I read up on it (I think it was on page 18 or 19 of the bill). Maybe there are implications in certain states. But even in those states where it is illegal to play, I don't believe it is illegal to withdraw, just illegal to deposit and play.

#3 13th January 2009, 9:40 PM

my friend gets a check sent to him and hasnt had a problem.

#4 14th January 2009, 3:21 AM

I've cashed out recently on Stars and Absolute. No problem, check comes in a week or so. It's only labled with the bank's name. One time the cashier asked me where i got the check. I told her it's a paycheck from my online job.

#5 15th January 2009, 4:55 AM

at UB their a generic check. i only get them in $500 dollar increments. sometimes i go to the bank their drawn and sometimes to my bank never had them question it either way

#6 16th January 2009, 2:51 AM

Well, I do know that you don't want to deposit more than $10,000 to any US bank. If you do that, the bank will want you to fill out tax forms.

#7 16th January 2009, 1:33 PM

Quote:

Originally Posted by martygokona

I've cashed out recently on Stars and Absolute. No problem, check comes in a week or so. It's only labled with the bank's name. One time the cashier asked me where i got the check. I told her it's a paycheck from my online job.

I would have told her so stuff it. They cant ask you where your money comes from. Well maybe they can ask, but you dont have to answer. Now if the IRS asks then you have to.
I like your answer thou, how does she know you dont write code for the website or something.

#8 15th February 2009, 11:43 AM

Quick follow up on this.
Say all of your winnings are from freerolls, is that considered gambleing? I mean gambleing is when you risk your money trying to win other money. If it is free to enter, then it would be a contest not gambleing right?

I know you would still have to pay tax on it, but seems like it would not be covered in the UIGEA bill. (I tried reading thru the bill, but got lost early on and did not find an answer)

#9 15th February 2009, 11:47 AM

why not use bankwire mostly? whithin two/three days

#10 15th February 2009, 12:07 PM

There no legal implications .However I play on Stars and used the E-check withdraw.It takes about three bussiness days.However I 'm with the largest bank in the US which may be why I get it so quick.

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Play Texas Hold'em Online Poker \| Advice on Pulling money out
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