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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

04-20-2011 , 07:49 AM
Quote:
Originally Posted by bamyeah33
lol...look i like poker as well..but it was a major crime.....its money laundering etc
Yes but who is actuallyl getting screwed by this money laundering? Boo hoo the federal government isn't getting a piece.
04-20-2011 , 08:46 AM
Quote:
Originally Posted by markksman
It is very likely the US government will use the returning of funds as leverage to get these companies to cooperate with their investigations. These companies are on-going businesses at this point, and it would be a problem for them if they were unable to return funds to players for years, which is certainly something they could do.

So the US government will use this fact as leverage to exchange expidition of monies returned to players in exchange for coperation from these businesses. They will have to do it, because they won't be able to afford the massive lost of trust they would suffer by having people go months and years without getting their monies back.

I would also add the US government controls the banking system, so it is likely they are entirely capable of keeping any banks for processing any payments to anyone in the US from these companies. As others have noted, the companies are not in a position to do anything without consent and permission at this point.

They will use the leverage they have to get people to turn themselves in and/or have other people cooperate, as to protect the on-going future of these operations. So I suspect most people in the US will eventually get their money back, how soon it happens is likely going to depend on how much these poker sites actually cooperate with the government.
Maybe, ...... but any player who did not report gambling income from an affected site might want to consider going back and amending his old tax returns before there is any deal struck between the US and the site where he played.
04-20-2011 , 09:02 AM
Quote:
Originally Posted by DonkeyQuixote
Maybe, ...... but any player who did not report gambling income from an affected site might want to consider going back and amending his old tax returns before there is any deal struck between the US and the site where he played.
My guess is, the IRS will offer an amnesty period well before the actual settlement (and even if there never is one).

It's straight out of the UBS playbook.
04-20-2011 , 10:35 AM
to me isnt trading even riskier than options trading...i mean the poker math with 52 cards id finite and understandable as i make the decision to shove with 17 outs i am making an easy gamble.....however when i make a decision on investments it is only "typically" from what i have read or had some advisement with but never knowing ALL THE FACTS...it would be impossible to ever know everything about a company i am speculating on hence why insider trading is unfair and illegal.....suck on that irony imo
04-20-2011 , 10:47 AM
Quote:
Originally Posted by NvrDwn
to me isnt trading even riskier than options trading...i mean the poker math with 52 cards id finite and understandable as i make the decision to shove with 17 outs i am making an easy gamble.....however when i make a decision on investments it is only "typically" from what i have read or had some advisement with but never knowing ALL THE FACTS...it would be impossible to ever know everything about a company i am speculating on hence why insider trading is unfair and illegal.....suck on that irony imo
nothing in your post is ironic, go back to school
04-20-2011 , 10:58 AM
FTP makes deal with US Attorney's office to regain fulltiltpoker.com. Agreement expressly allows for real money play outside the US....
04-20-2011 , 10:59 AM
Quote:
Originally Posted by NvrDwn
to me isnt trading even riskier than options trading...i mean the poker math with 52 cards id finite and understandable as i make the decision to shove with 17 outs i am making an easy gamble.....however when i make a decision on investments it is only "typically" from what i have read or had some advisement with but never knowing ALL THE FACTS...it would be impossible to ever know everything about a company i am speculating on hence why insider trading is unfair and illegal.....suck on that irony imo
Yea because you always know how many outs you have
04-20-2011 , 11:00 AM
Kevmath Kevin Mathers
DOJ PRESS RELEASE - http://******/4Do88O
04-20-2011 , 11:01 AM
Quote:
Originally Posted by CrazyNL
FTP makes deal with US Attorney's office to regain fulltiltpoker.com. Agreement expressly allows for real money play outside the US....
Sauce?
04-20-2011 , 11:02 AM
the irony is the legalities of trading and the comparisons everyone is making to online poker so yes there is irony in my statement but as usual (i troll these sites constantly cause i like poker discourse) someone always wants to slam anothers post there is a bunch of children in these forums i just wanted to comment on a few things but nevermind i really hate all the people that spend everday calling others moron, stupid, idiot, etc when they themselves could be saying something better and more productive.....as far as going back to school is concerned i carry several degrees froma major university but thanks for the suggestion i am in a job where i dont use those particular degrees but i did enjoy the university experience and education ...as for you sir couldnt i just look in a dictionary instead of going back to school if we were disagreeing on the term irony? just curious.....seriously i love the way people because they have 1000 post feel like they "own" 2 + 2...last time i checked noone ever got to 1000 without their first ten post...or am i wrong there also????? ive lost my entertainment that i really enjoy and ive been reading everyone's comments and i enjoy this site but i knew as soon as i magnified that poker is less than a gamble to trading that some kind fellow would tell me to get the F off blah blah blah well sir as nice as i can say this why would i give a **** what you say.....
04-20-2011 , 11:02 AM
So US players will be able to cash out but not play? Correct?
(sorry if I'm wrong and I get anyone's hopes up )
04-20-2011 , 11:06 AM
Thats what it looks like. This may be what my source was indicating.
04-20-2011 , 11:07 AM
Quote:
Originally Posted by bbfg
So US players will be able to cash out but not play? Correct?
(sorry if I'm wrong and I get anyone's hopes up )
That's how I read it as well. Of course, I'm not sure how they'll go about getting the money back, but if this lady is saying the govt plans on working with Tilt/Stars, I'm sure they can come up with a way.
04-20-2011 , 11:11 AM
No, no, fundies and repugnacans will assure you the stock market is not gambling. No one has ever lost money and families have not been devastated by failed investments and criminally negligent behavior and outright fraud leading to market collapses.

Fact is, the stock market is the largest online and live casino in the world with millions of people making financial decisions all the time that they ate not qualified to make.
04-20-2011 , 11:19 AM
Quote:
Originally Posted by areyoulocal?
I know this poster and feel it is highly unlikely that there is any trolling going on at all. Regardless of what anyone else might think.
Holy Smokes. A random rumor was right for once@
04-20-2011 , 11:19 AM
I did a paper on online gambling in my Administrative Law class, and my professor picked me and a few others out of an 80 person class to talk about their papers briefly. I mentioned the recent indictments and the fact the US could make a lot of money by regulating the industry.....I hope it sparked some interest in the subject for at least a few of the students in there.
04-20-2011 , 11:21 AM
Heh. I was wrong.
04-20-2011 , 11:23 AM
Quote:
Originally Posted by CrazyNL
FTP makes deal with US Attorney's office to regain fulltiltpoker.com. Agreement expressly allows for real money play outside the US....
how generous of the US Attorney to allow me to play poker in my own country
04-20-2011 , 11:24 AM
United States Enters Domain-Name Use Agreements With Two Online Poker Companies

"As Part of Agreements, Use of Domain Names Pokerstars.com and Fulltiltpoker.com Will Be Restored to Facilitate Return of U.S. Player Funds."
04-20-2011 , 11:26 AM
Quote:
Originally Posted by Prolekult
how generous of the US Attorney to allow me to play poker in my own country
LOL, that is indeed funny

They expressly allow foreign players play online poker in foreign countries on a site operated by a foreign company

Thanks a lot!
04-20-2011 , 11:37 AM
Good news, regardless. I really hope you US guys do get your money, and get them fast.

Anyone in EU wanna play drunk poker tonight?

*deposits*
04-20-2011 , 11:39 AM
Quote:
Originally Posted by MangDood
Holy Smokes. A random rumor was right for once@
lol I was thinking the same thing - this looks good at first glance...but time will obv tell as there are still a million variables that could go wrong before the sites send US players their money.
04-20-2011 , 11:42 AM
I appreciate any who didn't write me off completely when I first posted (Though I understand why many would.) I am an active participant in the poker community, and I love the community as a whole. Anybody who would try to dupe us during this time of crisis would be a real bag of dicks. It is a very good thing to hear that those with tied up bankrolls and those who were looking to cash out in order to feed their family/pay their mortgage will be able to do so, hopefully very promptly.
04-20-2011 , 12:03 PM
Quote:
Originally Posted by gav800
How does any of this affect isildur1?
does anyone REALLY care about isildur1 at the moment???
04-20-2011 , 12:03 PM
Does anyone know if Doyle's Room has any pending legal situations pertaining to Black Friday?

      
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