question about the new bill

koko · 12-28-06, 04:38 PM

Neteller is not covered under the bill (actually it is a law already).

Checks are still allowed, so US players can send in paper checks.

Also, the books are coming up with ways around the bill (law actually). The most common one I've seen is the books are selling prepaid debit cards. Credit cards can be used to buy these cards and then the prepaid cards can be used to fund sports accounts (and to get cash out of the sports accounts).

This type of 2 step transaction is not covered under the law either.

So far, it looks the the law will only make it harder for people in the US to bet online and not keep them from betting. First, some sites left the market, so that makes it a little harder to bet. Then, once the law is enforced, it will be harder for some to fund accounts (2 step process now instead of one), but I'm sure the books will do a fine job of educating everyone about how to do this.

pjesnik24 · 12-28-06, 04:41 PM

I am not from US but I think that you can send funds through **. I've sent to Pinnacle few times funds through ** and it was in some person's name every time.

szk1983 · 12-28-06, 05:37 PM

I don't see anyway the government can stop western union deposits and withdrawals. It goes to a person, not a company, and they can never prove that the person you are sending/receiving the money from isn't a friend of yours. To me, ** will always be a viable option. If you can deal with the fees, this works.

Brick Tamland · 12-29-06, 12:55 AM

the bill is bs. Its like passin a bill saying people will not longer be able to crap but not enforcin it until you invent a way to stop it. i read on pokerroom review that ******* said they are coming back and that it was all a scare tactic. bettors are still goin to bet and its not worth it for .gov

romaine · 12-29-06, 04:38 AM

I don' tknow what this bill or law is exactly about but for guys who don't own a CC

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is the right place to go. Most Austrian and German books offer this payment method, the cards can also be bought in some shops.

pags11 · 12-29-06, 05:53 AM

long live neteller...

jjgold · 12-29-06, 07:01 AM

** is good but limits are low, pre paid cards might be the wave of the future.

pags11 · 12-30-06, 02:42 AM

possibly jj, although another neteller will come along (hopefully it won't have to though)...

gotsteam · 12-30-06, 03:44 AM

technically the bill affects any and all financial businesses from interacting with US Financial Institutions.

So while this doesnt cover neteller directly, if you cut off their ability to fund via ACH &/or CC their effectiveness will be greatly diminished. They are a sharp group there, and this is why they have already layed off MANY staff in the Calgary office.

Even with work arounds ( foreign banks processing cards, 3rd party ACH, etc ) NETeller are still in a precarious position as a public company, with their Directors being a matter of public record.

IMHO they will do the same thing that the publicly traded books have done, either get out of the US market or go private.

That being considered, there are many private alternatives

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Just to name a few.

The reality for the Americans is, they will never stop their citizens from gambling online, if that is what the citizens wish to do. It didnt work with alcohol in the past and it will not work now. You would think as one of the largest if not the largest civilized countries in the world they would be smart enough to have learned this by now, but apparently not.

Oh well, maybe next century!!

Dirty D · 12-30-06, 09:46 PM

What about that 1-900 pay thing. I used that when i was really hurting for funds several years ago. I wonder how that would fit in the bill.

justbet · 12-30-06, 11:31 PM

is anyone anticipating neteller to go under or leave the market. a lot of people (including myself) have a lot of funds in neteller.

MAB · 12-30-06, 11:46 PM

Does the bill only cover transfers from US to sportsbooks? What about the other way around (i.e. ACH transfer from sportsbook to bank account)?

pags11 · 12-31-06, 12:59 AM

I'm not anticipating it, but vanzack knows more about it...

taurus · 12-31-06, 02:27 PM

Originally posted by pags11

I'm not anticipating it, but vanzack knows more about it...

vanzack knows more about than anyone.

betbetter · 12-31-06, 08:52 PM

Originally posted by justbet

is anyone anticipating neteller to go under or leave the market. a lot of people (including myself) have a lot of funds in neteller.

If the pencil pushers in Washington come up with something formal on paper, enforceable or not, Neteller will make a move, re: US clients and Gambling sites. Exactly what kind of move depends on the complexity ( and not the feasibilty ) of the proposed measures.
At no time though would a US clients funds be at risk. Of that you can be sure.

Happy New Year!