Received this via email today, take it as you will~
* Is the Money I have in Poker Sites safe?
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Nothing is going to happen for the next 270 days - that's 9 months - because the
board of governors and Federal Reserve System have to design an enforcement
policy that will regulate the behavior of banks and ************, which we can
surely tell you is going to be a nightmare. So, that means you'll be able to
transfer your money like before within the next 9 months.
Since we're on the topic of your money, realize that the new bill now asks the
banks to police a social issue which is certainly something the American
Bankers Association does not want. Second, if the Federal Reserve wants to
regulate banks, then they will have to include regulating hand written checks.
Imagine the amount of manual labor it will take to physically inspect millions
of checks to make sure they're not going to online gambling sites. Based on this
fact alone, we probably will see players be able to mail a check to make
deposits into their accounts.
The point is that these off-shore Gaming companies will always be able to
legally circumvent US laws because the United States have so many laws that
circumvent themselves.
* Can I still Play Online Poker?
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Of course you can still play online poker. The current law passed by the United
States government does not make online gaming illegal. The new bill makes it
more difficult to get money into a site by making it illegal for financial
institutions located within the United States to fund any type of online
gambling site.
Simply put, the bill is called the "Unlawful Internet Gambling Enforcement Act."
The main word here is "enforcement. This bill's purpose is to enforce laws which
are already in place. Therefore, the language of the statute confirms that the
new law does not change any of the existing gaming law.
* What are the Existing Online Gambling Laws?
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The main law that gets thrown around when discussing the legality of online
poker is the Wire Act of 1961, which was created specifically for sports
betting. Being that online poker is a totally different game from sports
betting, some politicians have been trying to use the Wire Act of 1961 to claim
that online poker is illegal. Since online poker has been around for 10 years
and there has never been a case brought up by the Attorney General, it just
reinforces the fact that the Wire Act of 1961 is not enough to make online poker
illegal. The only thing the US goverment can do is to create another law similar
to the Wire Act that targets online poker specifically.
Another key point is the topic of jurisdiction, which is the main reason the
United States government cannot stop online poker. The United States has no
jurisdiction to control companies based in other countries, so gaming sites
operating offshore are not subject to any US Laws. In the legal world, a law
that tries to control an offshore company is considered a law with no teeth.
Companies such as NetTeller and BoDog have been able to survive this recent bill
because they understand the jurisdiction laws.
We hope this email has been of some help for you and that you will continue
playing one of the truly great games in the world with people from around the
world.
SBR Top-Rated Sportsbooks
The law according to Pokerletter.org
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