Tough Times ahead for US players?

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KetchupFreak

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From reading this article, beginning december 2009 financial institutions are supposed to become stricter with monitoring and reporting possible Online gambling. It makes we wonder about the comfort of not worrying about a check mailed from a gaming site thats to be cashed within a US bank to the restrictions on using pre-paid credit cards even. It may come to the point where US players are forced to use over seas E-Wallets and pay outrageous deposit and withdrawing fees. I found the article on the AGA (American Gaming Association) Website...


FEDERAL LEGISLATION AND REGULATION
Because of disagreements over the legal interpretation of the Wire Act, Congress has taken steps to pass legislation that would explicitly ban Internet gambling. These efforts have been unsuccessful largely because of the potentially broad impact of a ban on a variety of interests, including Internet service providers, state governments and different segments of the gaming industry.
With an outright ban meeting significant resistance, lawmakers in 2001 began to take a different tack: They introduced legislation that would ban the use of credit cards and other financial instruments for the purpose of illegal Internet gambling.
The Unlawful Internet Gambling Enforcement Act
In 2006, Sen. John Kyl (R-Ariz.) and Senate Majority Leader Bill Frist (R-Tenn.) secured the passage of the first federal legislation restricting the burgeoning online gambling sector when they attached the Unlawful Internet Gambling Enforcement Act (UIGEA) to federal legislation crafted to increase the security of U.S. ports. The action took place in the waning hours of the 109th Congress, and later was signed into law by President Bush. The AGA took a neutral stance on this legislation.
Rather than attempt to reach off-shore operators by strengthening U.S. anti-gambling laws, the legislation attacks the payment mechanisms used to place bets on the thousands of offshore online gambling sites currently in operation. The bill makes it illegal for banks, credit card companies or similar institutions to collect on a debt incurred on an online gambling site. The language closely mirrors the legislation sponsored by Jim Leach (R-IA) that was easily passed out of the House Financial Services Committee earlier in 2006.
The bill does not update the federal Wire Act of 1961 to specifically apply to all forms of online gambling. It does not resolve the dispute between the U.S. Justice Department and the Fifth Circuit Court of Appeals on whether the Wire Act applies to all forms of online gambling. It does not resolve whether the U.S. horseracing industry is legally entitled to an exemption from a ban on online gambling. Nor does it resolve whether Native American tribes, as sovereign nations, retain the right to operate online gambling sites regardless of federal restrictions. Essentially, the bill maintains the status quo in the U.S., never clearly defining exactly what is legal or illegal online wagering.
The Federal Reserve and Department of the Treasury released the final regulations pertaining to the UIGEA in November 2008. As with the draft regulations that were first released in 2007, the final rule does not state a clear definition of what is considered “illegal Internet gambling.” The final rule places the enforcement burden on financial institutions like banks and credit card companies, but tells financial institutions not to spend time looking at individual credit card transactions. However, financial institutions must perform “due diligence” to make sure that their commercial customers are not in the Internet gambling business. They must undertake the same “know your client” processes that they already use to prevent money laundering. Over 12,000 small businesses are subject to the new regulations, and the rulemaking agencies estimate that the recordkeeping burden on financial institutions will add up to “approximately one million hours.”
The final regulations went into effect on January 19, 2009, but companies have until December 2009 to comply.
 
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Peterr211

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Nothing quite like the government whining because the're not getting taxes for something . . .
 
Baby Jesus

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Where is this article from?There is still few of ways to move cash on and off and there will be a way to do it in Jan 2010.believe me.
 
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KetchupFreak

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The article was copied off of the american gaming association website. I agree there will always be ways, but at what lengths? Some e-wallets charge 10% fees per withdraw. Thats 100 out of 1000, that could be used for a nice deposit. Eventually visa's pre-paid could be restricted due to this. Im not trying to put people in a frenzy just making them aware of whats ahead. Other countries are not happy with the extremes the US is taking to put this ban on and im hoping e-wallets in the future will become more deposit/withdraw friendly for players from all countries, not just US.
 
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nightmoves44

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This is a great reminder to everyone,that if you have money on a site and been putting off withdrawing,you may want to go ahead and start the process.I know I will be removing some of mine prolly before october is up.Thanks for the heads-up.Get what I can now,and deal with whatever I win after october at a later time....
 
Exit141RTe1

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You would think the US government would have something better to do than this. How about simple health care for the masses?
 
PNJs_dad

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Yes, this is very sad. It's funny how they want to ban a game of skill on the internet but at the same time I can go to my local convenience store and blow my whole check on lottery tickets and that's perfectly fine. LMAO!!!! Just don't make any sense.
 
PattyR

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Yes, this is very sad. It's funny how they want to ban a game of skill on the internet but at the same time I can go to my local convenience store and blow my whole check on lottery tickets and that's perfectly fine. LMAO!!!! Just don't make any sense.

this is a very good point :D
 
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xXShannonAXx

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Originally Posted by PNJs_dad
Yes, this is very sad. It's funny how they want to ban a game of skill on the internet but at the same time I can go to my local convenience store and blow my whole check on lottery tickets and that's perfectly fine. LMAO!!!! Just don't make any sense.


most likely because they make money from the purchase of your tickets
also with the whole internet gambling its hard for them to keep a record of what your winning/losing if they wont a cut for tax reasons or some other reason they pretty much carnt find out since most sites are in different countries

 
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ted80

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^^what he said. you win the lottery, you're on channel 10 on your side news at noon, 5, 6, and 11. you will be taxed heavily, but you won so much you just don't care how much they take. oh, and full tilt poker doesn't have the banner of "giving to the public schools of virginia" or whatever comes with it. ppl have an addiction to that with their earned/gov't issued money to that more than the most hooked and losing poker/race track/football wager-er out there. i mean, you wanna talk about a downswing...try playing the lottery for 20+ yrs...playing multiple numbers...$10+ a week...and your biggest hit is getting 5 of the numbers and taking home $75 taxable income. these people usually love the scratchers too....i mean hey! why not right? i know it...i see it...i go to the 7-11 2 or 3 times a week in the morning before work and get my coffee and a lousy crap-inducing biscuit...and am inconvenienced an extra 5 mins by some guy who can't read with $15 bucks in hand pointing at the plexi-glass see-through counter at the scratchers goin "let me get uh...uhhhh...number 2...no! number 6!...and a number 3"...and upon being rung up, not knowing how to count realizing here's $3 to spare so he wants a number 17, number 22, and a number 9! yes!!!!. and the constant flow of filled out numbers, plus scratchers....but hey! its all for the state right? that's cool...only made me late for work. and what's up with that guy who's getting either a 6 pack or a 40 at 7am in there? is that for later or...of course if i get a pack of cigs, i need to pocket it before i walk out the door, because someone will ask for one if they see a fresh pack, that guy who's "been saving up for a pack of cigs and a scratcher" outside...who asked you for 37 cents on the way in, and for a cig on the way out.

but they're on top of it if you win the lottery...you're almost on your honor, even though, they sure would like to catch you! ...if you're cashing out from a poker site, because they don't have a stake in it from the start. i understand that and i've always been honest in football and horse winnings, even if it was just a petty amount. i'm not looking for trouble...i'm honest...taxable income is taxable income, i know this...i know a lot of people don't look at it that way and would like to sneak by. i hate having so much of my check being taken away and then waiting 20 mins in line at the food lion while some women with all 5 of her kids are in the express lane with 3000 items, bitching about what she can and can't get with WIC or foodstamps or whatever, but i guess that's just the way it is. if i ever reach a point where my investments and hard work have paid off in poker, i'd like to know i'll be able to withdraw...and will gladly report it, whatever. i have mutual funds and shit, that's a gamble too right? they're not pissing their damned pants about that. oh well
 
wsorbust

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I believe we're still waiting for a bill to come to the floor via Barney Frank to legalize online poker. It was scheduled for June, supposedly delayed until September, but has yet to be presented and voted on. I would have to believe it is due to the health care push/stall. Sit tight.
 
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I believe we're still waiting for a bill to come to the floor via Barney Frank to legalize online poker. It was scheduled for June, supposedly delayed until September, but has yet to be presented and voted on. I would have to believe it is due to the health care push/stall. Sit tight.

3 Bills were introduced to congress this year and i managed to find and paste brief descriptions from the poker players alliance website...

1.)S.1597
Description: A bill to amend title 31, United States Code, to provide for the licensing by the Secretary of the Treasury of Internet poker and other games that are predominantly of skill, to provide for consumer protections on the Internet, to enforce the tax code, and for other purposes.
Introduced by: Sen Robert Menendez
Latest Action: 8/6/2009 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Latest Action8/6/2009 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
2.)HR.2267
Description: To amend title 31, United States Code, to provide for the licensing of Internet gambling activities by the Secretary of the Treasury, to provide for consumer protections on the Internet, to enforce the tax code, and for other
Introduced by: Rep Frank, Barney
Cosponsers: 60

3.)HR 2268
Description: To amend the Internal Revenue Code of 1986 to regulate and tax Internet gambling.
Introduced by: Rep, Jim McDermott
Latest Major Action: 5/6/2009 Referred to House committee. Status: Referred to the House Committee on Ways and Means.
Cosponsors: 4
 
wsorbust

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They haven't been voted on yet, just referred to the rightful committee.
I'm under the belief the process is that they were brought to the floor but we still have to wait to see whether they have any possibility of being actually voted on. The more cosponsors the more likelihood of a vote and a pass of the bill is my guess. I'm in the dark. I guess someone will have to read up on how a bill gets passed. lol ;)

After a quick look, we're just at the beginning process to pass this bill. I'm sure there's bills that can be fast-tracked through, and these might surely be exceptions but take a look at this page if you're wondering what the process is:
http://www.votesmart.org/resource_govt101_02.php

It's no easy task to push a bill through, which is pretty evident by the president's own unsuccessful attempts for his healthcare reform.
 
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EthanVK

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Can someone simplify this for me? What does this mean as far as withdrawls from poker sites? Will I still be able to take my check I get in the mail from Full Tilt to a bank to deposit in an account? Thanks in advance.
 
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testreet

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Yeah I know

the whole poker thing in America is a very delicate issue and should be treated as such. We need congress to realize that there's nothing they can do to stop regular poker, and they might as well let the US open their own sites to generate income for the economy
 
jolubman

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I wish the law makers would take their head out of their azz and start thinking about helping the citizens.
 
SydTheCat

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They haven't been voted on yet, just referred to the rightful committee.
I'm under the belief the process is that they were brought to the floor but we still have to wait to see whether they have any possibility of being actually voted on. The more cosponsors the more likelihood of a vote and a pass of the bill is my guess. I'm in the dark. I guess someone will have to read up on how a bill gets passed. lol ;)

Heres a way to get them voted on.
How about sneaking them in attached to another bill, and have them voted on at the end of the day when everyone is tired and wants to got home?
Just a thought.
 
jacksprat

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the whole poker thing in America is a very delicate issue and should be treated as such. We need congress to realize that there's nothing they can do to stop regular poker, and they might as well let the US open their own sites to generate income for the economy

Well said testreet, i had been pondering the same idea myself.

Surely this is the way to go, it will keep most people, and the US treasury happy.
It could be a very long drive for some of you guys in the USA to find a casino. Think of all the extra pollution and waste of valuable resources that will be caused when 100,000 Americans go on a 100 mile drive every evening! Lets face it poker is in our blood and how could we do withuot it? Apart from that, us Europeans would miss you all.:)
 
Maid Marian

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the whole poker thing in America is a very delicate issue and should be treated as such. We need congress to realize that there's nothing they can do to stop regular poker, and they might as well let the US open their own sites to generate income for the economy

This is only one of several delicate issues in the US...they treat adults like children...Allow us to play poker, play lotto, smoke pot...alot of things need to be changed. I don't smoke, but I don't care if others do. They do need to allow adults to be adults...we don't need to be treated like children anymore. I'm tired of their interference within the private confines of our homes. Tax it all if they must, but legalize it...then they wouldn't keep whining about our huge deficit called our National Debt!:mad:
 
canucks921

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I wish they didn't have anything more important.

You would think the US government would have something better to do than this. How about simple health care for the masses?


Actually I wish that the government didn't have anything more important going on. Obama is so busy with health carea and the war mess that he inherited, onling gambling is the last thing on his mind. This was a shitty bill by Frist attatched to the Patriot Act. I almost guarantee that the people running the show now would not put poker on the list of games of chance. However they have a whole mess of bigger issues to solve.

Hopefully health care can get done, the war can end and somebody will bring up legalizing online poker.
 
smd173

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Hopefully health care can get done, the war can end and somebody will bring up legalizing online poker.

Probably wouldn't happen, but how ironic would it be if they slipped a legalization bill for poker onto the end of the healthcare bill just like the UIGEA got snuck in on the Safe Port Act.
 
mistuhandy

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Gonna be a war between gamblers and the congress. They shouldn't do that tho
 
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danlo87

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this sucks, there are so many other things they should worry about than people playing poker.
 
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Just follow the old saying:

Use it or lose it.

Keep playing until something happens (or doesn't happen).

If it does go through American's will be limited to playing legally at casinos, Indian reservations, and with friends (well sort of with friends)
 
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