Quote:
Originally Posted by CDCollector
Not new to online poker, but new to Global. Have verified account and then verified my banking info this morning.
So. . .we can actually deposit straight from Global to our bank and it won't nuke our bank accounts now? (yes, I've read several pages of this thread, but still find this quite wild)
Yeah.
Their model exploits a loophole in the sweepstakes laws in the US. You're actually buying the fugazi gold coins and they give away free $weepscash with every purchase. The gold coins you can never redeem for anything really. The $weepscash you can redeem at the rate of 1:1.
The banks are no bastion of integrity. They'd be happy to accept your deposits if you sold drugs and black market babies if the law allowed them to accept the deposits. They're quite happy to take any money the regulators will not fine them over.