Kuge 0 Posted October 2, 2006 Share Posted October 2, 2006 http://www.gambling911.com/Party-Gaming-Po...ars-100206.htmlPartyPoker, PokerStars to pull out of US marketGambling911.com has learned that PartyPoker and PokerStars will likely be following 888.com suit and be pulling out of the US market.Sources close to both poker rooms have informed Gambling911 that statements should be issued some time Monday from the two firms.PartyGaming, fearful of its share price tumbling, is expected to announce that it will focus exclusively on the European and Asian markets as well as Canada.PokerStars reason for pulling is not known at this time since the company does not trade publicly. News regarding PokerStars came from a number of high level internet gambling executives close to the company though no official confirmation has come from PokerStars management itself during the early morning hours Monday.Sportingbet is expected to continue operating in the US market despite legislation that pushed through Congress late Friday night which would prohibit US banks from sending payments to online gambling sites. The banks have almost an entire year to comply, however, the smaller banks have already stated they would not have the necessary resources in place to monitor such transactions.Sources close to NETeller have suggested that they will be reviewing a contingency plan with the intention of remaining in the US market. PartyPoker is expected to announce they will be leaving the US market. Industry executives are telling Gambling911.com that PokerStars plans on exiting the US marketWhile sounding less and less confident by the day, Bodog.com founder Calvin Ayre says his company has no intentions of making changes in the near future The third party online cash processor, however, has in the past bowed to pressure from US authorities, specifically in the state of Maryland, which ordered the company to cease doing business with its citizens. Likewise, NETeller does very little advertising in the US as a result of "outside pressures".Nevertheless, Gambling911.com sources feel relatively confident that NETeller will not pull out of the US market in the immediate future. NETeller has become one of the most popular payment processing methods. The company was started by a colorful happy-go-lucky hippie and transformed into a massive online payment processing empire, the biggest firm of its kind within the internet gambling sector since 2000. FirePay, another online gambling third party payment processor, is likely to leave the US market within the next six months, our source tells us.A meeting will be held in London this coming Thursday between various payment processors, some of whom have already vowed to join possible legal action.The internet gambling-friendly jurisdictions of Gibraltar and Antigua are already in the process of reviewing legal means to prevent the restrictions on internet gambling from going into effect. Antigua has already won a landmark case against the US with the World Trade Organization.Bodog.com Founder Calvin Ayre issued a statement to Gambling911.com late Sunday night: "Bodog is a broad based digital entertainment company that has long ago ceased to be dependent on any one revenue channel. Bodog will continue to monitor things as they unfold but is not expected to make any changes until our study is completed."London newspapers already began reporting Sunday evening that 888.com, perhaps the most trafficked online casino operation, would be pulling out of the United States market, though it was unclear what percentage of their overall player base consisted of US citizens. Estimates suggest that nearly 80% of PartyGaming's (PartyPoker) customers originate from the United States. PartyPoker is the largest online poker site, several times larger than its next closest rival, PokerStars. Paradise Poker, once the largest, is ranked number 3 and belongs to Sportingbet.PartyPoker's exit from the US market would ironically make the playing field much more competitive. In the past, long established offshore gambling companies have found new and innovative ways to get around payment processing issues.Once reliant almost exclusively on Western Union, offshore sportsbooks were dealt a blow when Western Union began restricting transfers to such establishments in 2000 as a result of political pressure, most evident in the state of Florida. While complying to requests from authorities in the US, there was still plenty of wiggle room afforded to offshore betting companies looking to utilize instant cash transactions. PayPal, wrought with security issues and complaints from state consumer agencies, entered the online gambling industry in 2001 and quickly departed after legal action was taken against them by the state of New York. NETeller capitalized as a result of this exclusion. Shares in online gambling companies that trade publicly on the London Stock Exchange were expected to drop substantially Monday. Many companies were expected to release statements during the morning in order to prevent a "blood bath".The fall out is expected to be substantial but more established "old school" brands, specifically in the sports betting sector, are likely to fare much better than their rivals in the online casino and poker markets. Online casinos which rely almost exclusively on credit card and electronic funds transactions are likely to be devastated as casino players are least likely to find alternative methods of payment.Another area of concern lies with the casino and poker affiliate community which will be hit hard by the exit of an 888.com, PartyPoker and PokerStars, or even one of these large poker sites. Though it is widely anticipated that others will eventually move in to fill the void. Revenue derived from US players would be cut off in the short term.It is doubtful that poker sites wishing to take on US players will be shut off completely from doing so via money transfers. Despite efforts to already restrict credit card processing since 2000, much of which has been successful, dozens of banks continue to allow such transactions. While there are ways around this law (just ask the porn and rifle industries), publicly traded internet gambling firms view US lawmakers actions as prohibition and "unattractive" to the investing community, which in essence would make shares in these companies virtually worthless. The internet gambling prohibition, a "watered down" version of previous language that falls short of clarifying a 1961 "wire act" and applying that law to gambling on the web, passed through Congress as an attachment to a popular port security bill. While many in the House expressed anger with the online gambling measure appearing on this unrelated bill, the House felt the port bill had to pass.President Bush is expected to sign the bill into law as early as this Wednesday.----Christopher Costigan, www.gambling911.com Originally published October 2, 2006 1:41 am ET Link to post Share on other sites
HoosierAlum 0 Posted October 2, 2006 Share Posted October 2, 2006 GG life.NOOOOOOOOOOOOOOOOOoCalvin Ayre has some big balls. Link to post Share on other sites
TheCinciKid 0 Posted October 2, 2006 Share Posted October 2, 2006 Looks a little better than the news about Party that caused me to panic. I'll leave my money on Stars for the moment at least. Link to post Share on other sites
Kuge 0 Posted October 2, 2006 Author Share Posted October 2, 2006 Oh...and if it's possible, someone email stars during the WCOOP Broadcast and tell them about this...hopefully they will say something on air. If they do, mention it here...because I'm off to bed....See Kuge...this is what happens when you don't go to bed when you are supposed to...internet poker is ruined Link to post Share on other sites
Zach6668 513 Posted October 2, 2006 Share Posted October 2, 2006 GG life.NOOOOOOOOOOOOOOOOOoCalvin Ayre has some big balls.Except he doesn't allow Canadians, lol Link to post Share on other sites
Kuge 0 Posted October 2, 2006 Author Share Posted October 2, 2006 Looks a little better than the news about Party that caused me to panic. I'll leave my money on Stars for the moment at least.I left all but $200 on stars....Time for the sickest...quickest run of my life within the next 3 days Link to post Share on other sites
ripptyde 0 Posted October 2, 2006 Share Posted October 2, 2006 if this is truly the case....the line has been crossed. I didn't think this would really happenwhat a travesty....disgusting. f**k this country.....f**k you Bill Frist you NAZI pig slut piece of ****....F**K you senate....F**K you 'America'.....this country is a joke. Im spending the next week looking for a new country to live in. Ive had it with this facist state of affairs....Im embarassed to be an "American'....as of this moment I give up on our country and its potential.We are now living in a facist statehave a nice day Link to post Share on other sites
HoosierAlum 0 Posted October 2, 2006 Share Posted October 2, 2006 Who is moving to Prague with me? Link to post Share on other sites
TrulyRaNd0m 0 Posted October 2, 2006 Share Posted October 2, 2006 Yeah I pretty much quit being an American now.**** you Congress. Link to post Share on other sites
sennin 0 Posted October 2, 2006 Share Posted October 2, 2006 Glad I'm in Canada, but this still sucks in general Link to post Share on other sites
bascomeb 0 Posted October 2, 2006 Share Posted October 2, 2006 I'm done being conservative.**** BushGod damnit Link to post Share on other sites
ricker 0 Posted October 2, 2006 Share Posted October 2, 2006 It's such a sad day to be a republican, and I for one am renouncing my party that I've long been a part of. I'm tired of all their fuckups with Iraq/Bin Laden/Afganistan. And this? This is just disgusting. There's no excuse for this, I'm voting out every single republican I can in the next few elections. Link to post Share on other sites
rocketpoker828 0 Posted October 2, 2006 Share Posted October 2, 2006 I'm done being conservative.**** BushGod damnit Blame Frist before Bush.Jesus I never thought I would hate someone more than Bush. Link to post Share on other sites
RDog 0 Posted October 2, 2006 Share Posted October 2, 2006 WOW!!!!! Nice ****ing vacation for me. ****ing unbelievable. I am truly......truly.....truly.....speechless. I listened to EVERYONE tell us not to panic and the first chance they get the sites bolt. Link to post Share on other sites
Jordan 1 Posted October 2, 2006 Share Posted October 2, 2006 WOW!!!!! Nice ****ing vacation for me. ****ing unbelievable. I am truly......truly.....truly.....speechless. I listened to EVERYONE tell us not to panic and the first chance they get the sites bolt.i wanna go to the commerce with you...aweogha4tio43hygtoh- Jordan Link to post Share on other sites
JMoney2681 0 Posted October 2, 2006 Share Posted October 2, 2006 Blame Frist before Bush.Jesus I never thought I would hate someone more than Bush.He has literally destroyed so many lives and futures, just from banning online poker. This is insane. This makes me sick. Link to post Share on other sites
Billy 0 Posted October 2, 2006 Share Posted October 2, 2006 Anybody wanna teach me the Canadian National Anthem?.....Do they have one? Link to post Share on other sites
JMoney2681 0 Posted October 2, 2006 Share Posted October 2, 2006 i wanna go to the commerce with you...aweogha4tio43hygtoh- JordanYou live in Cali too Jordan? Have you ever been there? Link to post Share on other sites
RDog 0 Posted October 2, 2006 Share Posted October 2, 2006 i wanna go to the commerce with you...aweogha4tio43hygtoh- JordanToo bad I can't 6 table EVERY single night at Commerce. **** ME!!!!!!!!!!!!! Link to post Share on other sites
PiercE^Bodog 0 Posted October 2, 2006 Share Posted October 2, 2006 wait.. what does this mean if i am a US citizen who plays multiple online sites? Link to post Share on other sites
Billy 0 Posted October 2, 2006 Share Posted October 2, 2006 And seriously, how will this affect the World Series of Poker next year? Numbers are gonna drop like crazy."Yes Lon, last year we rewarded 12 million and this year our champion will receive a whopping 600 thousand dollars!"Lon: "Wow that number sure did drop.""Yes, just like my self-esteem when I got married!" Link to post Share on other sites
RyanM 0 Posted October 2, 2006 Share Posted October 2, 2006 Did you hear that sound?That was the poker bubble bursting. Link to post Share on other sites
JMoney2681 0 Posted October 2, 2006 Share Posted October 2, 2006 Did you hear that sound?That was the poker bubble bursting.Nah, just the Main Event bubble. Poker rooms will be so packed they won't know what to do. Link to post Share on other sites
RyanM 0 Posted October 2, 2006 Share Posted October 2, 2006 I'm done being conservative.LOL at THIS being the thing that turned you off to Republicans.Nah, just the Main Event bubble. Poker rooms will be so packed they won't know what to do.And what will the non Vegas/AC/LA people do? Link to post Share on other sites
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