Quote:
Originally Posted by SSC-Ry
I am also interested in this, since banks can be annoying about this stuff. One would think that since its not illegal to PLAY poker that money you make playing poker should be able to deposited in your bank account
I'm sure there's a better explanation than what I'm about to give (in the sticky?). Anyway, fwiw:
Banks don't make decisions like that. It isn't so much that playing poker is illegal, so much that it is finds that are potentially ill-gotten. As a small example, I have a friend that used to run a dispensary, and Banks wouldn't touch him. He basically got a vault installed in his house, to keep his money in. This is also why dispensaries are cash only. Banks and more specifically credit cards are skiddish when it comes to transactions that may become considered illegal, even if it's considered so in the future. It's basically self preservation. As a bank, the last thing you'd want is the federal government thinking you were assisting criminal elements.
Federally, so far as I am aware, no one has ever been prosecuted for playing online. But that doesn't necessarily mean that it's completely legal. A lot of the legality is going to depend on your jurisdiction. To me, if they aren't likely prosecuting people for it, I consider it legal
. The doj went after ps and ft, but they used a statute that even they admitted was probably incorrect. PS decided not to fight it, essentially because they still have the rest of the world.
This type of thing was essentially why Bitcoin was invented. We'll that and silk road. Nonetheless, your going to be hard pressed to find a bank to work with you on this. Before I lived in a regulated area, I never really had a problem with deposits. Withdrawals were the issue. I had a acr card back in the day, but when crypto picked up, I did that. Super simple imo.