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Reuters: Full Tilt Poker, Pokerstars and Absolute Poker charged with illegal gambling Reuters: Full Tilt Poker, Pokerstars and Absolute Poker charged with illegal gambling

04-16-2011 , 07:16 PM
Sorry everyone. It's just me running bad.


All this will even out eventually.
04-16-2011 , 07:16 PM
Quote:
Originally Posted by Case Deuce
A few weeks ago, partnerships were announced between:

Wynn Casino & Pokerstars
and
Station Casino & Full Tilt Poker

I'm assuming these partnerships gave these casinos access to private company data from both sites.

What if these partnerships were nothing more than ploys by these casinos, at the direction of the DOJ, to gain access to their senstive company information and then just turn it over to the DOJ?
They cancelled these commitments upon release, and the thought that FTP/PS gives info at least anything highly sensitive to some casino...?!?!?! We know what happened and how so why this post?
04-16-2011 , 07:16 PM
Quote:
Originally Posted by Case Deuce
A few weeks ago, partnerships were announced between:

Wynn Casino & Pokerstars
and
Station Casino & Full Tilt Poker

I'm assuming these partnerships gave these casinos access to private company data from both sites.

What if these partnerships were nothing more than ploys by these casinos, at the direction of the DOJ, to gain access to their senstive company information and then just turn it over to the DOJ?
Both Casinos have severed these partnerships
04-16-2011 , 07:17 PM
Quote:
Originally Posted by One Voice
No, it would be than you were restricted only to the available supply of goods and services in that City some of which might be inferior or more expensive that you could get elsewhere. People in your City supplying you those things would gain but only at your expense. As a whole resources would not be directed optimally and the City would be less well off as a result.
Okay now I'm confused again.

In the example I gave, the 4 pieces of paper per x hours work was not being used for any good or service by that guy. The paper was sent out for use in another economy. The guy is not looking for a new supplier, there was never a thing that he was getting. The thing the guy got for his paper was sentimental, and there is no substitute for this within his new limited options.

I can see your point with restricting a particular good or service provider from doing business; but I am asking only about the impact of dollars sent out of the US economy.

Are these two issues the same in some way or?
04-16-2011 , 07:18 PM
Quote:
Originally Posted by mikeinyonkers
Meh..this should surprise no one. I've always lol'd at the people who announce themselves as poker pros as if they were going to be able to (or want to) do this for the next 30 years. Even if this does become "legalized", it seems it would be on a state by state basis (I could be wrong) in which the players wouldnt be 200,000 (Stars), but maybe 4k-10k. Good luck in the
3k guaranteed tourneys.
There was some young poker "pro" on here not too long ago that made this ridiculous claim that taking bad beats online somehow enabled him to handle real life beats "better than most". Game over.
My heart does go out to the people who were making a living playing this game. However, use this as a wake up call. Get a real profession and use poker as a hobby. This could be a blessing in disguise for a helluva lot of supposed "poker pros" on here.
I'd venture a guess that you're not worried about being able to withdraw your mirrions made online.
04-16-2011 , 07:20 PM
Quote:
Originally Posted by AlanDyer
i recommend every american mu***r a republican congressman, until they let follow their "personal responsibility" philosophy
Murdering shows great personal responsibility. These posts are immature, and really should be more thought out.
04-16-2011 , 07:22 PM
Quote:
Originally Posted by One Voice
If the US Government gets the fines and money they are after it will come from the assets of FT & PS and those assets including player accounts which are part of general funds.
This is absolutely incorrect, individual account funds are not company assests and the sites are required by law to hold them in trust.

I guess it wouldn't come as a huge shock to learn that UB have ignored this requirement, but there's absolutely no evidence to suggest Stars or FTP have.
04-16-2011 , 07:22 PM
Idk if it has been posted but:

http://www.youtube.com/watch?v=FwCLUzUDVsY

Just a summary of what happened. Good to see it on ESPN's channel.
04-16-2011 , 07:22 PM
I just don't like this at all, and its uncomfortable
04-16-2011 , 07:24 PM
Quote:
Originally Posted by tenfiftyam
I just don't like this at all, and its uncomfortable
Welcome to the forums.

Cheers
04-16-2011 , 07:26 PM
Quote:
Originally Posted by LostOstrich
This is absolutely incorrect, individual account funds are not company assests and the sites are required by law to hold them in trust.

I guess it wouldn't come as a huge shock to learn that UB have ignored this requirement, but there's absolutely no evidence to suggest Stars or FTP have.
Actually, there is evidence to the contrary.

Funds are 95%+ safe. How long it will take for US based players to get their money is another question, but there's no reason to think we're not getting our money back eventually.

In the meantime....Canada, here I come.
04-16-2011 , 07:31 PM
Quote:
Originally Posted by 1938ford
...

However, there is no way player funds are held in any kind of "trust" that is not an asset of the company that has access to the funds. ...

However and hopefully, it is likely that the 74 seized accounts are in US banks involved in the "conspiracy to fraud the US people" and that these companies can continue to operate with enough money to pay all.

My point though.......Why take that chance? Especially for US based customers.
Have you never heard of 'trust funds'? The people who control them aren't the owners, they're the trustees. You'd need a financial expert - but I think this is how they're guaranteeing the money is safe.

The 74 accounts are named in the indictment - several of them are international and not US.

But they're not seized,
"restraining orders were issued against more than 75 bank accounts utilized by the Poker Companies and their payment processors ..."
Any of those banks which have had no dealings with US customers have no legal, financial or political reason to comply with what are essentially requests.

but on your last point - American players would probably be wise to play it safe and non-American players might want to limit their liability to online sites.
04-16-2011 , 07:31 PM
Quote:
Originally Posted by knef
OP is correct. Stars, Full Tilt, UB - all have been seized!

This is bad!
Quote:
UB
Well, not totally.
04-16-2011 , 07:32 PM
Where are people getting these '95% safe' figures from? Durrrr?
04-16-2011 , 07:32 PM
Quote:
Originally Posted by mg0698
wow u are an idiot just gtfo
Yes you're right...Im the idiot. And congrats on your 8000000000 posts, I guess you're one of the Obamas on here.

We have 300 pages of a thread here with people surprised as heck as to what happened when in fact the writing was really on the wall when Tilt wasn't debiting deposits. Even now the exploration of playing on another site such as Bodog or Cake by a bunch of people in this thread truly shows how dumb most poker players are.

Welcome to the real world now...McDonalds is hiring. Make sure to put down that you grinded rush poker on your resume.
04-16-2011 , 07:35 PM
Quote:
Originally Posted by Free Huggs
...

I can see your point with restricting a particular good or service provider from doing business; but I am asking only about the impact of dollars sent out of the US economy.
...
I think the point was that online poker is just one element of international trade, you lose money when you import things and you gain money when you export things.

Theory and practice have shown that free trade means that everybody benefits overall - and you damage your economy when you have protectionist and isolationist policies in place.
04-16-2011 , 07:37 PM
Quote:
Originally Posted by Follers
Where are people getting these '95% safe' figures from? Durrrr?
at least 97.6% of the figures quoted in this thread have been pulled directly out of the arse of whoever quoted them.
04-16-2011 , 07:38 PM
So the indictment specifically mentions 'founders' of the companies?

Is this some standard wording or do the mean the people who actually started the companies? Wouldn't it be more important who actually owned/run the companies whenever these transactions that are the issue started?

Surely they didn't start doing funny banking the day after UEGIA?

It seems a bit like. 'We know some pokercompanies did some illegal banking. We don't really have it all figured out but let's go after the 3 big ones and arrest some people to see what shakes out. Hopefully they'll start rating each other out. Starting with letting us know who actually owns/controls the companies.'
04-16-2011 , 07:39 PM
aplying at mcdonalds puttind grinded rush poker on app....lol whoever said that is a genious.

thanks for the laugh
04-16-2011 , 07:39 PM
If you live in the US and still want to play, why not try a VPN service? They only cost like $5.00 a month and make it appear like you are in Europe.
04-16-2011 , 07:39 PM
Quote:
Originally Posted by ericlee1984
sportsbook use to let me like a month ago but now it says i have to upgrade....how much does windows xp cost?
It costs 1 Torrent.
04-16-2011 , 07:40 PM
So what can we Canadians do right now? Twiddle our thumbs for a while until they fall off..
04-16-2011 , 07:40 PM
Quote:
Originally Posted by tekksan
If you live in the US and still want to play, why not try a VPN service? They only cost like $5.00 a month and make it appear like you are in Europe.
Because you must have an address based in Europe and we dont. how would we cash out?
04-16-2011 , 07:41 PM
Quote:
Originally Posted by tekksan
If you live in the US and still want to play, why not try a VPN service? They only cost like $5.00 a month and make it appear like you are in Europe.

cashing out may be a problem eh? what a buffoon
04-16-2011 , 07:41 PM
Quote:
Originally Posted by GODSRAGE
So what can we Canadians do right now? Twiddle our thumbs for a while until they fall off..
most Canadians can play afiak

      
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