O
onemorechance
live free or die
Silver Level
There's a couple of guys who are very, very reliable
From one of those very reliable guys
Okay so. I just spoke for a while to one of the guys who has been feeding me stuff for a while. Gonna try and get what he told me in readable terms.
Him: Put it this way, I really want this to pass.
Me: Things are that bad?
Him: The payment processors we're dealing with are getting shadier every time.
Him: I don't think anyone in NVG/Legislation understands what'll happen when somebody like Cereus tells their players "Sorry, this is the tenth time we've lost a processor and we don't really feel like covering your withdrawals anymore, you're on your own".
Him: In addition I don't think anyone realized what'll happen if one of the major site owners get indicted, which I think is a real possibility in the next 6-18 months if the bill doesn't pass.
Me: Are we talking about Ivey, Lederer, Bloch, etc?
Him: Possibly, anyone with more than 5% ownership is at more risk. The owner of FTP has a sportsbook conviction too.
Me: What do you think will happen when that happens?
Him: Run on the bank, at the very least.
Him: Really, when people say the status quo is so great, I don't think they get what happens when one of the big sites is indicted and loses half of it's players overnight, and the others simply walk away. Or when a site stops payment on a check and doesn't honor it. So yes, we need this to pass.
Me: I worry about that too. I worry some site will get 1mm+ confiscated again and just say screw it, we don't honor those checks.
Him: I agree, and I don't give it that much time. So there ya go.
Him: Every US site is facing this situation together. Just a matter of who has the most money in the next big ewallet or processor account that gets seized.