Is the Money I have in Poker Sites safe?
Nothing is going to happen for the next 270 days - that's 9 months - because the board of governors and Federal Reserve System have to design an enforcement policy that will regulate the behavior of banks and credit cards, which we can surely tell you is going to be a nightmare. So, that means you'll be able to transfer your money like before within the next 9 months.
Since we're on the topic of your money, realize that the new bill now asks the banks to police a social issue which is certainly something the American Bankers Association does not want. Second, if the Federal Reserve wants to regulate banks, then they will have to include regulating hand written checks. Imagine the amount of manual labor it will take to physically inspect millions of checks to make sure they're not going to online gambling sites. Based on this fact alone, we probably will see players be able to mail a check to make deposits into their accounts.
The point is that these off-shore Gaming companies will always be able to legally circumvent US laws because the United States have so many laws that circumvent themselves.
* Can I still Play Online Poker?
-----------------------------------------
Of course you can still play online poker. The current law passed by the United States government does not make online gaming illegal. The new bill makes it more difficult to get money into a site by making it illegal for financial institutions located within the United States to fund any type of online gambling site.
Simply put, the bill is called the "Unlawful Internet Gambling Enforcement Act." The main word here is "enforcement. This bill's purpose is to enforce laws which are already in place. Therefore, the language of the statute confirms that the new law does not change any of the existing gaming law.
* What are the Existing Online Gambling Laws?
-----------------------------------------
The main law that gets thrown around when discussing the legality of online poker is the Wire Act of 1961, which was created specifically for sports betting. Being that online poker is a totally different game from sports betting, some politicians have been trying to use the Wire Act of 1961 to claim that online poker is illegal. Since online poker has been around for 10 years and there has never been a case brought up by the Attorney General, it just reinforces the fact that the Wire Act of 1961 is not enough to make online poker illegal. The only thing the US goverment can do is to create another law similar to the Wire Act that targets online poker specifically.
Another key point is the topic of jurisdiction, which is the main reason the United States government cannot stop online poker. The United States has no jurisdiction to control companies based in other countries, so gaming sites operating offshore are not subject to any US Laws. In the legal world, a law that tries to control an offshore company is considered a law with no teeth. Companies such as NetTeller and BoDog have been able to survive this recent bill because they understand the jurisdiction laws.
Since we're on the topic of your money, realize that the new bill now asks the banks to police a social issue which is certainly something the American Bankers Association does not want. Second, if the Federal Reserve wants to regulate banks, then they will have to include regulating hand written checks. Imagine the amount of manual labor it will take to physically inspect millions of checks to make sure they're not going to online gambling sites. Based on this fact alone, we probably will see players be able to mail a check to make deposits into their accounts.
The point is that these off-shore Gaming companies will always be able to legally circumvent US laws because the United States have so many laws that circumvent themselves.
* Can I still Play Online Poker?
-----------------------------------------
Of course you can still play online poker. The current law passed by the United States government does not make online gaming illegal. The new bill makes it more difficult to get money into a site by making it illegal for financial institutions located within the United States to fund any type of online gambling site.
Simply put, the bill is called the "Unlawful Internet Gambling Enforcement Act." The main word here is "enforcement. This bill's purpose is to enforce laws which are already in place. Therefore, the language of the statute confirms that the new law does not change any of the existing gaming law.
* What are the Existing Online Gambling Laws?
-----------------------------------------
The main law that gets thrown around when discussing the legality of online poker is the Wire Act of 1961, which was created specifically for sports betting. Being that online poker is a totally different game from sports betting, some politicians have been trying to use the Wire Act of 1961 to claim that online poker is illegal. Since online poker has been around for 10 years and there has never been a case brought up by the Attorney General, it just reinforces the fact that the Wire Act of 1961 is not enough to make online poker illegal. The only thing the US goverment can do is to create another law similar to the Wire Act that targets online poker specifically.
Another key point is the topic of jurisdiction, which is the main reason the United States government cannot stop online poker. The United States has no jurisdiction to control companies based in other countries, so gaming sites operating offshore are not subject to any US Laws. In the legal world, a law that tries to control an offshore company is considered a law with no teeth. Companies such as NetTeller and BoDog have been able to survive this recent bill because they understand the jurisdiction laws.
posted by Destroyed-love | 12:17 PM
1 Comments:
I saw your blog today, your "Is the Money I have in Poker Sites safe? " about online poker is really good and appreciated. I am also a poker player from nederland and playing online poker is my hobby. Me and my friends are mostly used the site rakebacknederland.com fro playing online poker. I think this is a best site of poker in nederland.
Post a Comment
<< Home