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Online poker seizure made front page of Yahoo finance. Online poker seizure made front page of Yahoo finance.

06-09-2009 , 06:15 PM
Quote:
Originally Posted by LetsGambool
Its probably somewhere between 1 to 2 weeks of profits for the sites. Its not nothing, but do you think losing two weeks profits is going to make them suddenly insolvent?

Obviously you cant lose 2 weeks of profits too many times, and the precedent is bad, but saying they won't pay out because of it is completely asinine.
I have every confidence that Stars will do everything it can to satisfy their customers. Even though they act outside of the US law, I trust them. What I don't trust is what ability they will have to do so. This whole thing is under a big microscope now.

And in Barack and Barney we trusted...

Just wait till you see how they **** up health care...
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:16 PM
Quote:
Originally Posted by Buster Tilton
I have every confidence that Stars will do everything it can to satisfy their customers. Even though they act outside of the US law, I trust them. What I don't trust is what ability they will have to do so. This whole thing is under a big microscope now.

And in Barack and Barney we trusted...

Just wait till you see how they **** up health care...
Take the politard stuff to the politard forum please.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:17 PM
One thing to also consider is that it is only $10 million for each site. It is not like Pokerstars or Fill Tilt got hit for $30 million each.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:18 PM
Quote:
Originally Posted by oaklag
One thing to also consider is that it is only $10 million for each site. It is not like Pokerstars or Fill Tilt got hit for $30 million each.
Another thing to consider is that they did this just on a whim. What stops them from doing it for 300 mill tomorrow?
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:20 PM
Quote:
Originally Posted by LetsGambool
Take the politard stuff to the politard forum please.
I think it's fair to question how the candidate we thought was going to help us with this issue is going to do for us now. I'll be anxious to see how Barney Frank, in particular, addresses this issue. It isn't politics, it's policy.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:20 PM
Because they don't have $300 million in US banks. I would assume that most of their funds are held overseas.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:22 PM
Quote:
Originally Posted by Buster Tilton
I think it's fair to question how the candidate we thought was going to help us with this issue is going to do for us now. I'll be anxious to see how Barney Frank, in particular, addresses this issue. It isn't politics, it's policy.
I don't think Obama or Frank were in the loop on this seizure.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:24 PM
Quote:
Originally Posted by Jack Bando
I don't think Obama or Frank were in the loop on this seizure.
But we would hope that at some point, they will, and favorably so.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:25 PM
Quote:
Originally Posted by Buster Tilton
I think it's fair to question how the candidate we thought was going to help us with this issue is going to do for us now. I'll be anxious to see how Barney Frank, in particular, addresses this issue. It isn't politics, it's policy.
I didnt realize health care related to online poker. Good to know!
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:26 PM
Quote:
Originally Posted by jmillerdls
Another thing to consider is that they did this just on a whim. What stops them from doing it for 300 mill tomorrow?
Yeah, you need to put a case together to freeze an account, just so you know.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:27 PM
Quote:
And in Barack and Barney we trusted...

Just wait till you see how they **** up health care...


No ****.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:28 PM
Quote:
Originally Posted by Buster Tilton
Hey, I am willing to agree with you. If 30 mil collectively is nothing to these guys, then no problem, brah!
its estimated pokerstars make 1 million in profit/day
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:30 PM
Quote:
Originally Posted by LetsGambool
Yeah, you need to put a case together to freeze an account, just so you know.
Apparently all they have to do is ask the bank to do it...didn't even need a warrant before the bank froze the funds. They are scared.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:31 PM
Quote:
Originally Posted by Buster Tilton
But we would hope that at some point, they will, and favorably so.
this is the point. they had nothing to do with what happened, and the reason so many said it would be a positive for us for obama to get elected is if the bill actually hits his desk he would likely no oppose. If you think this is bad what do you think would have happened if the other side won? this is meant for poiltics forum anyway, so im done with the topic of obama having anything to do with this, its absurd.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:36 PM
Quote:
Originally Posted by jmillerdls
Another thing to consider is that they did this just on a whim. What stops them from doing it for 300 mill tomorrow?
the courts maybe

but, actually, nothing... we live in tyranny
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:43 PM
Quote:
Originally Posted by Buster Tilton
... these sites act outside of US law. They thumb their noses at it.
Please specify what federal law they are violating?
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:48 PM
Whats funny is that the idiot in new york is in a state that have casinos. just like other states that have some sort of laws against online gambling, about 85 percent of them have casinos. Such M Fin Hypocrites. And also, how does this jackass have power to enforce anything in other states?
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:51 PM
Quote:
Originally Posted by nlnut
Whats funny is that the idiot in new york is in a state that have casinos. just like other states that have some sort of laws against online gambling, about 85 percent of them have casinos. Such M Fin Hypocrites. And also, how does this jackass have power to enforce anything in other states?
They can claim that people in their jurisdiction are affected by this awful thing we call online poker. Therefor since these accounts processed payments or were capable of processing payments to players in their district they can go after them.

Since the courts have ruled the Wire Act only applies to sports gambling I'm actually a bit excited here. If the seized asset holder puts up a fight we may actually get the precedent we want. Keep in mind the feds never went after Epassporte, they got a C&D. Epass never processed anything but poker. As gung ho as these fanatic nuts are why do you think they never stole their assets or tried to prosecute them? Because they knew they didn't have any laws that backed them. The same would apply here if the processor only processed poker payments.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 06:59 PM
Quote:
Originally Posted by Pokeraddict
They can claim that people in their jurisdiction are affected by this awful thing we call online poker. Therefor since these accounts processed payments or were capable of processing payments to players in their district they can go after them.

Since the courts have ruled the Wire Act only applies to sports gambling I'm actually a bit excited here. If the seized asset holder puts up a fight we may actually get the precedent we want. Keep in mind the feds never went after Epassporte, they got a C&D. Epass never processed anything but poker. As gung ho as these fanatic nuts are why do you think they never stole their assets or tried to prosecute them? Because they knew they didn't have any laws that backed them. The same would apply here if the processor only processed poker payments.
No one has ever put up a fight before, and I'm fearful that will continue to be the case. Hopefully that will change this time.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 07:00 PM
the sites may not have lost much if anything, this 30 mill could have belonged to the 3rd party prossesing company.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 07:01 PM
Quote:
Originally Posted by tangled
Please specify what federal law they are violating?
You know, it is becoming obvious to me that you guys don't understand that this isn't really a legal issue. It is a political issue. It doesn't matter how specious their legal arguments are. They will ride this thing for as long as they can. And it should be obvious that even if they have to settle up as they did with Neteller, they will always try a new angle. They will make it as big a pain in the ass as they can. They're playing hardball here.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 07:04 PM
Quote:
Originally Posted by I.M. Baked
the sites may not have lost much if anything, this 30 mill could have belonged to the 3rd party prossesing company.
Again, a naive statement. It doesn't matter who is responsible for not dispersing the funds. It ultimately falls on the poker sites, not some check processor with a faked corporate name engaging in an activity they feel the need to obscure in whatever fashion they can.

Think about it. Reputations are on the line. Some shady check processor doesn't care. They'll be making money tomorrow doing something else that's shady.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 07:04 PM
Quote:
Originally Posted by I.M. Baked
the sites may not have lost much if anything, this 30 mill could have belonged to the 3rd party prossesing company.
That would still be very bad, as it would make it much more likely that other payment processors of online poker sites will no longer do poker-related business.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 07:05 PM
Our government is so hypocritical. Gambling legal everywhere. Casinos, lotteries, gambling boats, and slots are everywhere. I can even buy a lotto ticket from my own state government. But online poker is not ok? Its on espn but its not ok to play it on the internet? This situation is so stupid its laughable. For those of you outside the US who dont understand this situation let me help. Gambling is rampant in the USA. Those who are currently profiting from said gambling do not want online poker to cut into their profits so they seek to ban it. Moronic Congress obliges.
Online poker seizure made front page of Yahoo finance. Quote
06-09-2009 , 07:06 PM
Quote:
Originally Posted by Buster Tilton
You know, it is becoming obvious to me that you guys don't understand that this isn't really a legal issue. It is a political issue. It doesn't matter how specious their legal arguments are. They will ride this thing for as long as they can. And it should be obvious that even if they have to settle up as they did with Neteller, they will always try a new angle. They will make it as big a pain in the ass as they can. They're playing hardball here.
"hardball"

wtf are you talking about?

even as a sportsbettor in the US, there are still many, many, many options available for moving money back and forth

there always will be
Online poker seizure made front page of Yahoo finance. Quote

      
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