Quote:
Originally Posted by PTS1
Just to clear this up for everyone, this is what Global Poker wants you to believe and it is their deception. The sweeps cash has real value because you can exchange if for real US money which by US definition is gambling. While this in itself is not illegal in all states, processing payments for gambling is illegal according to the US laws. Processing payments for sweepstakes prizes is not considered illegal is the US.
The contest itself has to meet the guidelines of a legal US sweepstakes contest in order for payments processors to legally pay out for prizes.
Global Poker is meeting all of the legal requirements for a sweepstakes. They are doing nothing illegal. What they are not making clear to participants is that participants are actually playing a sweepstakes contest and not a real poker game.
"Just to clear this up", you base all your conclusions on a hideously small sample hand base and lots of personal assumptions to support your conclusion.
Gambling is a game of chance, as defined by US law. Poker and fantasy sports have been determined to be games of skill and are not considered gambling. You adhere to your understanding of the term 'sweepstakes' as proof of your conclusion. ClubWPT.com spells out in their T&C that they are in fact a sweepstakes model, you purchase tournament points, their currency, with your membership, play real poker as explained by their RNG section, accept US bank cards as a means of payment, and award cash in exchange for tournament points you won in their games. That is pretty much the exact same thing the legally binding prospectus says for VGW and evidenced on their site.
Global's T&C is nowhere near as clear as ClubWPT's is and should be made more specific. I have no knowledge of the process to get and be certified in terms of an RNG. It should be somewhere in the T&C that they are working on having this done, if that is the case. Kim has stated that it was currently being worked on and I'll give the benefit of the doubt, possibly out of naivety on the whole process.
I will take the official legally binding documentation sent in to the government agencies as being factual. I will also accept the idea that the company has legal counsel and they explored what needs to be done to enter the US market in addition to explaining the downside to signing off on a prospectus and audit that is not factually true.
I could be completely wrong in trusting the documentation, no question. I also have not diverted from the main topic of the thread. I have used outside examples and proof as to explain my understanding of what they are doing. There is also a far more likelihood that your conclusion garnered from a tiny hand sample and perceived conclusion of what is a 'sweepstakes' game is far less likely than management signing fraudulent documents. You make de facto statements that are opinions, not facts. Corporate integrity is the basis that my belief is accurate. They are not unrelated aspects. I can not provide proof of my viewpoint, either; but, I can read legal documents fluently. If their integrity is true, then the assumptions that it isn't real poker are false.
So as you said, go back to discussing proof that they are not providing real poker. A small amount of hands analyzed and an isolated understanding of what is a 'sweepstakes' game is hardly evidence of it being real or not. What proof do you have that they are not offering real poker? Prior supporting points you claimed can be explained by either their prospectus or competition in the industry.
I have a genuine interest in knowing whether or not they are real as it would be a very good investment to buy shares. I have looked at their prospectus as an investor and their site, in conjunction with US law and precedence, seems to support what they have said. I am not a blanket supporter of the site and have been publicly critical of some things. Although, the ridiculous ROI I have since joining this past winter definitely has me cheering it on. If it was pure random sweepstakes, I should have far less winnings. I don't have any substantial dollar wins like some people, but I do have dozens for $50-100.