So long Solid Pay

jjgold · 01-18-07, 05:23 PM

Yeh the gov't I guess has the goods on every gambling entity offshore so they are closing to avoid jail time.

BuddyBear · 01-18-07, 05:43 PM

So long SolidPay....we barely knew you.

Louie Diamond · 01-18-07, 06:38 PM

Originally posted by jjgold

Yeh the gov't I guess has the goods on every gambling entity offshore so they are closing to avoid jail time.

JJ,
Closing will not avoid any jail time. They can be tried for YEARS (7, I think) after the crime took place.
It's showing 'good faith'. IOW, kissing Uncle Sams ass so they can play the 'ignorant' card.

Major and SolidPay have some major heat coming their way. He can't change the crimes he's ALREADY committed. There were plenty of suckers who signed up for SolidPay and are now going to have a their private info going right into the FEDS/IRS hands. I would highly recommend anyone that used SolidPay to get some very good tax advice. If not, serves them right for trusting that MAJOR piece of trash in the 1st place.

JoshW · 01-18-07, 06:46 PM

Good luck finding anyone willing to take the heat of processing gambling transactions.

tacomax · 01-18-07, 06:48 PM

I think that Securebuxx is going to re-emerge and take the entire market.

bigboydan · 01-19-07, 03:15 AM

Originally posted by lakerfan

Good luck finding anyone willing to take the heat of processing gambling transactions.

I'm sure somebody will step up to the plate despite the heat laker.

Some books still take credit card transaction somehow even though thats been banned for quite sometime now. I don't know how they do it nor want to know either, because it's not my business at all. It all comes down to processing

framboise · 01-19-07, 11:29 AM

"*************" and "Instadebit" is still available for US customers. You can fund your sportsbook account with those deposit methods.

There are others payments method that still accept US customers like ******* and Central Coin.

Tchocky · 01-19-07, 11:32 AM

Originally posted by framboise

"*************" and "Instadebit" is still available for US customers. You can fund your sportsbook account with those deposit methods.

There are others payments method that still accept US customers like ******* and Central Coin.

I don't know about Instadebit. I haven't heard anything from them directly but Pinnacle, WSEX & Matchbook no longer accept Instadebit.

JoshW · 01-19-07, 12:24 PM

The step of the player sending money to offshore is going to continue to be the toughest. If a place opened in Antigua like Neteller, cool, the books could work with it. But the question of how to get money to it is still the same. Cashiers checks is an option, and the only one I think will hold up long term.

Feds were "smart" to go after Neteller because within days almost everyone who was a legitimate player in the processing market got the hell out. Now those that still remain are easily targeted by the government. And the government can go after their banking connections because they aren't dealing with dozens of processors, now is barely a handful.

So essentially, I believe that all EFT/ACH/echeck transfer will go away. These are all very much related to banks and fall under the law. Credit cards will go too.

Not to mention in this environment is going to be tough for books to trust processors. In the best of times processors stiffed books for big money. In the worst of times, processors are going to run with book and player money when they get heat from the feds or when they know they can get out now with a little cash.

Figure that risk in and lot of books are going to be better off doing cashiers checks and book to book transfers. Maybe a little Western Union, but you will see busts on them and some ** operates will stiff books too. Vicious fucking cycle.