POLL-What will the POKERSTARS/FULLTILT closings have on your offshore SPORTSBETTING?

[soxwin1917]

Spot on, Poker Joe. Very well said.

[playz]

The thing I don't understand is how could they seize the domains of these companies if they are not based out of the US. What's to say that the DOJ just says bookmaker.com is illegal. We can seize this? How do they have ownership of these domains. I think that it reallly where the controversy stands. How the heck are they allowed to do this?

[TexansFan]

The thing I don't understand is how could they seize the domains of these companies if they are not based out of the US. What's to say that the DOJ just says bookmaker.com is illegal. We can seize this? How do they have ownership of these domains. I think that it reallly where the controversy stands. How the heck are they allowed to do this?

http://www.theancient.us/2011/02/05/alarming-domain-seizures/

"Even though many of these sites are operated by people and business’ outside of the USA and have been ruled LEGAL in their home countries, but simply because they use a “.com” name, all of which are controlled by Versign an american company, they (the US Governemt) feels it is there right to seize these domains. So to recap we have the federal government violating the 4th, and 5th but in many cases they are seizing property that should not be in their jurisdiction in the first place."

[RealSlimShady]

@PokerJoe - Is Full Tilt offering 98 cents on the dollar payouts to players right now?

No. That's what he's willing to accept right now if there was an offer for it.
I think that's too high. The money may be tied up for months or even years. Adding all other risks(depending on whether you declared taxes on winnings, etc)......I'd value it at under 90 cents on the dollar easily.

[Pokerjoe]

It would be interesting to see a market price on FT and PS dollars. I was in this position when Neteller got grabbed, and I remember thinking I'd go for 80 cents on the 9k I had in there at the time. I didn't have to, Russ, the owner of Majorwager, got me the whole 9k for free, but I remember getting very nervous about it.

Now? Not so much. For one thing, both sites are still busy. Less busy, but busy enough that they aren't closing their doors. Yet if they stiff the US accounts, they'll lose their non-US players because no one will trust them. So they have to pay. And of course, if they keep their doors open, they CAN pay.

I don't see this as being anything more than an inconvenience, in the long run. And I think I know how I can get my money out, I'm just waiting a bit, and I'm not going to further talk about it here.

Giving up 2 cents on the dollar might be a little light, but I wouldn't go down to 10 cents on the dollar, although I understand Slim's point.

At least I've always paid my taxes. I'm thinking there are more guys worried about that than about getting eventually paid. And guys worried about an income, now, too, which also is not my concern, live poker always having been my bread and butter.

[gafl]

Laws are for other countries, not the US GOV. When the US goes to the WTO with a complaint, they expect the outcome to be honored if it is in our favor, if it goes against the US, it is just ignored.

[RealSlimShady]

Well, I figure that it would easily be 6months minimum or a year to get it paid in full. I'd discount 5-10% off that at least. There has to be some risk of not getting paid as well(for whatever reason), so you have to factor that in. If you havent paid taxes on it, you'd have to be willing to discount even further......that's how I came to my estimate.
I hope everyone gets paid in full....I was lucky to have nothing at any of the sites when this went down and was never a big player anyway.

[samdapatriotsfan]

The government needs money so they go after a couple of big players with made up laws. It's an easy way to do it.

Don't you just love the good ol' US of A.

[jeremythegreat]

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz zzzzzzzzzzzzzzzz stupid illegal gambling, juswt made $300 in real world poker

[hehfest]

i'm not going to let the government dictate what I can do with MY money. Anyone who just bends over and takes it, pulling all money out of offshore sites is a pussy in my opinion

FU DOJ

I agree with you. The problem with the US is that we have been divided and conquered already. Folks have no backbone. Nobody gets together and fights anything. Even if they did.....they would send in provacateurs posing as part of that group. The insider screws up, takes the group down, etc.

I thought the Boston tea party was so that there were no more taxes? What ever happened to that? hmmmmmmmm........ The answer to 1984 is 1776.

They can't really seize offshore books anyway. Look, few of them process or bank in the U.S. anyways. The only pain might be sending and receiving the funds. Everything else is out of their jurisdiction.

If someone is having problems sending and receiving funds, then I have a solution. You'll have to join the elite information club first. Hold on........let me get a web site running for that!

[Killer_Demo]

things arent looking good for US based players playing off-shore...i wish the govt had something better to do than this crap

[Fishhead]

When do we all head for the moon?

[thetrinity]

good poll fish. i selected reducing my offshore exposure. books seem to be a little more cautious even though they are giving off that business as usual vibe.

truth be told though, i think the DbagsOJ got their guys and thats that. they are eliminating the competition so they can get their mitts on part of the take from harrahs.com or bellagio.com in 2013.

[underthe total]

i shopping countries as we speak, i am moving and denouncing my u.s citizenship.......

[Maniac]

This will have a negligible effect on me as the majority of my bets are placed either on Betfair, Pinny or with a few UK companies that will be unaffected by the events this week.

The only slight issue I may have is trying to refund the balance of my Full Tilt account, but luckily its only a couple hundred $ so its not going to completely cripple me IF it does all goes up !