Will our money be safe?

[bedada]

I talked to a service rep from Bo Dog about this new legislation. They were very helpful. They said they think it will be very difficult for the government to stop banks from making transfers since it is legal to send money overseas. The banks will not know who the money is going to. They think the government is just trying to slow down internet gambling, which is confusing as to why they are doing this now. It can't be a moral issue since people gamble at casinos all over the states legally. The Republicans can't be out for votes because this is not going to be popular with the public. I have campaigned for and met some of the top Republicans over the last 15 years and will not vote for them anymore because they are becoming too much like the left wingers who want totat government control. There are many others I know that will not vote for them anymore because they are leaning towards the left.

Anyway, does anyone know if our existing money in the accounts of "A' rated Sportsbooks will be safe since this will hurt their profit margin? I'm afraid they will not pay out anything since they know they may be going out of business.

Thanks,
Tony

[moses millsap]

I think if the bill is signed, you have a window of 270 days before it takes effect, so I'd just keep your money in top rated books for the time being.

[jjgold]

Owned has the best strategy, could not of said it any better.

[ourbet]

Hear hear!

[bigboydan]

I think your money will be safe at top rated type books. The problem will be moving it too and from the books.

[Bill Dozer]

bedada,

Welcome to the board!

That should be a concern for those looking at who is behind some of the lesser outfits and what is in their past. The top rated books are ethical operations run by honorable individuals. They are in this for the love of the business as well as the profit. The original principals are still in each. They are aware that the business has its ups and downs which includes runs on the bank for whatever reasons. Uncertainty is never easy to deal with but it can be minimized by staying with the best.

[bubba]

hey bill. lets say there turns out to be problems with neteller. would the top rated books pay out to us through other methods like mailing a check or something. i have too much money offshore to just lose it all.

[Bill Dozer]

hey bill. lets say there turns out to be problems with neteller. would the top rated books pay out to us through other methods like mailing a check or something. i have too much money offshore to just lose it all.

They pay out via alternate methods now when a player can't receive for some reason. The reluctance and the policy not to do this now is because it cuts out some of the fraud. Fraudsters are part of overhead but there is nothing worse for them than paying a scammer via check and then paying again to his victim's credit card.

[tblues2005]

They pay out via alternate methods now when a player can't receive for some reason. The reluctance and the policy not to do this now is because it cuts out some of the fraud. Fraudsters are part of overhead but there is nothing worse for them than paying a scammer via check and then paying again to his victim's credit card.

Bill,

What do you advise on this, pull out after the football season is over or within a few weeks? Do you think that legit books like BetJamaica,The Greek, BoDog, and Pinnacle will find a way for players to send money to them? Do you actually think there is going to be some really mad Americans and they will have to change the law? I certainly think so expecially with the poker players out there they are for sure going to vote whoever agreed to pass this bill! I think what will happen will be in 2008 when everyone votes for President that this could become an issue if there is millions of poker players that like to play online and they go after the lawmakers that passed this bill.

I thank you very much there Bill for your help on this, I am just kind of confused of what I should do here! I have an account with BetJamaica so I am concerned about this and what they are planning on doing about it also. I think they are smart people there, I think they already had this in their plans since there has been quite a bit of talk about it, it isn't that they didn't expect this to happen anyway.

[Bill Dozer]

What do you advise on this, pull out after the football season is over or within a few weeks?

I think players should do what they are comfortable with. You can't enjoy betting if you are worried about your money.

Do you think that legit books like BetJamaica,The Greek, BoDog, and Pinnacle will find a way for players to send money to them?

Yes, I think the owners of those books would hand deliver funds before letting players go unpaid.

Do you actually think there is going to be some really mad Americans and they will have to change the law?

Mad Americans probably won't change the bill but a lot of focus will be on the WTO. A mad international community and lawsuit might have an impact.
I think this is about supply and demand. There was Paypal after credit cards and there was Neteller after Paypal. There will be new ways to debit users. But, there currently isn't a system that can identify the recipient of an ACH so the bill is only half the battle for the gov. I know what it's like to agree with the team on a new project only to have IT say it can't be done in the desired way.

This is obviously unprecedented and I am no lawyer. My guess is we will be revisiting these topics in 9 months.

[tblues2005]

What do you advise on this, pull out after the football season is over or within a few weeks?

I think players should do what they are comfortable with. You can't enjoy betting if you are worried about your money.

Do you think that legit books like BetJamaica,The Greek, BoDog, and Pinnacle will find a way for players to send money to them?

Yes, I think the owners of those books would hand deliver funds before letting players go unpaid.

Do you actually think there is going to be some really mad Americans and they will have to change the law?

Mad Americans probably won't change the bill but a lot of focus will be on the WTO. A mad international community and lawsuit might have an impact.
I think this is about supply and demand. There was Paypal after credit cards and there was Neteller after Paypal. There will be new ways to debit users. But, there currently isn't a system that can identify the recipient of an ACH so the bill is only half the battle for the gov. I know what it's like to agree with the team on a new project only to have IT say it can't be done in the desired way.

This is obviously unprecedented and I am no lawyer. My guess is we will be revisiting these topics in 9 months.

Thanks alot Bill for your help on this, I don't have a big amount in my betting account so I plan to stay until at least the end of the football season.

Don't you agree with me that eventually with voting in people that disagree with this bill and somehow can get it changed. I think it is a possiblity plus on top of that the WTO will have to say something about this because it is going to hurt some of the economies around the world in some of these countries. Remember we need these countries to help us with terrorism, so I think they could pull the plug in Iraq with Britian and say to us we are going to pull out if you pass this bill then things could change in a hurry. I have been with BetJamica for a long time now so I don't think they are going to back out on us. I think books like BetJamaica will find a way to let us wager for the time being.

I think the government is seeing all these scamers out here that are just plain bad books that they want to weed out and are not able to pay people back. I think with the good books out here will stay in business somehow and let US players be there also. We will just have to wait and see on this but it could get very interesting really quick, expecially if the WTO and Poker Players Alliance gets into the mix, it could put it into a US Supreme Court issue maybe also.

I think eventually that the US is going to get on board like Britian and Australia has done and regulate it and make some income on it when they find out this doesn't work and I predit it isn't going to work, probition has never worked and it never will either. I think the extra tax revenue will be helpful considering the countries in debt.

[McBa1n]

To be perfectly honest - sites WILL send you form letters telling you your money is safe. I would trust this of maybe pinny, pokerstars and party poker. Outside of that? I am not familiar enough with their operations. I know Party and Pokerstars are as good as it gets to protecting the customer's money from internal fraud. I don't know Pinny's operation enough, as I've only started punting in the past couple of years (and have been doing poker online for a LOT longer).

Pinnacle has such huge volume, I can't see any cash-out-when-it's-illegal problems (not that cashing out is illegal - it's just that betting there would be, if you lived in the US- which is even skeptical).

At any rate - I think if you dont' have ANY bonuses at a site and it's over what you'd 'normally' have in action - I'd get my money out of their NOW.
These companies are going to do anything to keep money in their shops to protect their 'capital'.
That's reason enough to move a substantial amount, especially if you're an arb-only player - to get your money out NOW and wait til the dust settles and take a crap job in the interim....

I'd say, if you were a gambler, Thursday is the likely day (the day Bush normally signs bills - if not, the following Tuesday, which would be real close to the 10 day deadline).

I'm sorry, but this legislation is very bad, don't let publically traded companies tell you not to worry.
When they do that? That's telling you all you need to know. They care about THEIR bottom line - not yours. I'd say cash out over what you felt comfortable in risking and nothing more - and stop playing arbs.

That's MY interpretation of corporations, and also world rules.

Beyond that, do NOT rely on the WTO.
The US donkey punches the WTO almost daily.
The current administration has no interest in serving global needs.
Of course, you'd have to really follow world economics to see that, though.
Don't trust the BS sites are feeding you - protect yourself. Cash out what you don't think you can afford to lose.

[imgv94]

I saw don't cashout just yet. The last thing we need is a bunch of people cashing out at the same time.

[pags11]

good thoughts bill...

[McBa1n]

I think if the bill is signed, you have a window of 270 days before it takes effect, so I'd just keep your money in top rated books for the time being.

That's the "compliance" time.
The window is much much smaller.
...But large enough to cover the NFL/NCAA football seasons, woo!
Well, that is, if we're lucky. Card players will have less than 100 days on the big sites (in some cases, 10 days TOPS - Party/Pokerstars).

It takes financial institutions to institute the regulations (as described by the bill), from my understanding, up to 100+ days from the time it becomes law, which happens when all those morons that voted for him, BUSH, signs it to law.

For all those that voted Republican for President or House/Senate?
You did it to yourselves - and you did it to me.
Thanks!
You're clearly 20x as smart as me!
LMK how to get around this bill!
PM me!
Republicans ONLY, though!

[pags11]

as stated before, just keep your money with good books...