semi_colon 0 Posted October 3, 2006 Share Posted October 3, 2006 The bill makes it illegal for banks to process transfers to online gambling sites but the act of actually playing online is still legal right??? The obvious way around this would be to use offshore banks to transfer funds? Anyone know any reason why this wouldnt work? Link to post Share on other sites
the shank 0 Posted October 3, 2006 Share Posted October 3, 2006 who cares. this is just wrong no ****ing ahole has the right to ban online poker. this is a blatant jacking of a freedom. where is a crazy american with a gun when u need one Link to post Share on other sites
bigbadbeat 0 Posted October 3, 2006 Share Posted October 3, 2006 No reason at all that it wouldn't work, and it might be a great way to beat the bill.....If the US banks notice that, oh a billion or so, dollars are flowing out of country every day/week/month, then they just might tell THEIR politicians that this is a bad thing. Link to post Share on other sites
JMoney2681 0 Posted October 3, 2006 Share Posted October 3, 2006 The bill makes it illegal for banks to process transfers to online gambling sites but the act of actually playing online is still legal right??? The obvious way around this would be to use offshore banks to transfer funds? Anyone know any reason why this wouldnt work?Good question, I'm sure someone has an answer. And I hope it's a good one too!!! Link to post Share on other sites
delphi12 0 Posted October 3, 2006 Share Posted October 3, 2006 expect to be audited if you go this route (assuming you are honest on your tax return). Reason is that you have something like a 70% of being audited if you check the box that says, "have a foreign bank account." Most people who do are money laundering or tax evading, hence the audit. Then, when they find out you did it to do online gambling, mabe they won't nail you for that, but they'll find *something* to nail you with.I live in Los Angeles, so this bill really doesnt affect me. I have 5 card clubs within 30 minutes (1 within 15 minutes) of my house. I am better live anyway, so all this bill does for me is actually help my bankroll. Link to post Share on other sites
nick1edwards 0 Posted October 3, 2006 Share Posted October 3, 2006 who cares. this is just wrong no ****ing ahole has the right to ban online poker. this is a blatant jacking of a freedom. where is a crazy american with a gun when u need one Err, Paradise, Pennsylvania? Link to post Share on other sites
AcesUp46 0 Posted October 3, 2006 Share Posted October 3, 2006 I'm no expert but I don't think poker players will have any problems funding their accounts. The only problem would be finding online poker rooms that would accept business from a US resident. As it is, PartyGaming and 888 Holdings already announced that they will suspend US accounts once President Bush signs the bill.I suppose we still could find ways around this. So all hope is not lost... Link to post Share on other sites
nick1edwards 0 Posted October 3, 2006 Share Posted October 3, 2006 I only have one question, what is the REASON behind all of this??Anyone actually know? Link to post Share on other sites
semi_colon 0 Posted October 3, 2006 Author Share Posted October 3, 2006 not a clue, but its a great way to kill off at least a few hundred million in taxes with flow on effects to the likes of WPT and WSOP tax takes as well. It seems as though the bill wont make it impossible, just very difficult to continue playing. It will be interesting to see how the pros and companies mount a challenge as I see most had 50% of their value scrubbed overnight. If any of you get really desperate the FCP community can always rely on us trustee foreigners to keep you loaded :DSays me with 10 posts could be a good way to grow my bankroll hmmmmm Link to post Share on other sites
DunkinDonuts 0 Posted October 3, 2006 Share Posted October 3, 2006 I only have one question, what is the REASON behind all of this??Anyone actually know?Officially, it would be an attempt by Congress to regulate the "social costs" of "evils" such as gambling. For example, early last century, Congress used the interstate commerce clause to ban the interstate transport of lottery tickets, and the courts upheld it.Obviously, since lotteries are flourishing today, the real reason is that the government wants its cut. If you can't profit from it, ban it. Nothing abhors an untaxed flow of money like government.At least with Starbucks' prices going up, the stage is set for Dunkin Donuts to re-establish its dominance in the Boston suburbs, where even the affluent are conscious that their lattes are rapidly approaching $5. I'm not sure what this has to do with the previous two paragraphs, but it's something that's been on my mind. Link to post Share on other sites
Entrepeneur 0 Posted October 3, 2006 Share Posted October 3, 2006 At least with Starbucks' prices going up, the stage is set for Dunkin Donuts to re-establish its dominance in the Boston suburbs, where even the affluent are conscious that their lattes are rapidly approaching $5. I'm not sure what this has to do with the previous two paragraphs, but it's something that's been on my mind.We finally have a Dunkin Donuts near us (just opened 3 weeks ago). Until then, I was having friends bring back bags of coffee beans for me every time they went where there was one.Great to have Good coffee in town. Ranked one of the best...Drinking Starbucks at home right now because I've run out of DD. Gotta go get some more.On my mind too. What what what will we fill our time with? Link to post Share on other sites
quadaces 0 Posted October 3, 2006 Share Posted October 3, 2006 The IRS doesn't care HOW you make your money just that they get their cut of it! They won't report you for they way you make your money anything unless you try to avoid paying tax on your money. Link to post Share on other sites
edge52 0 Posted October 3, 2006 Share Posted October 3, 2006 The bill makes it illegal for banks to process transfers to online gambling sites but the act of actually playing online is still legal right??? The obvious way around this would be to use offshore banks to transfer funds? Anyone know any reason why this wouldnt work?Something like that should work just fine, but unfortunately the poker sites (ie. Party, Interpoker) seem to be responding by banning US customers outright. It'd be nice if they'd try to fight this a little harder.Once all the smoke clears though and we know which (if any) sites still allow US customers, there will be backdoor methods for you yanks to get fund your accounts, no doubt. Link to post Share on other sites
NicksDad1970 0 Posted October 3, 2006 Share Posted October 3, 2006 Is the bill friends with the Dude? Link to post Share on other sites
fleung22 1 Posted October 3, 2006 Share Posted October 3, 2006 The bill makes it illegal for banks to process transfers to online gambling sites but the act of actually playing online is still legal right??? The obvious way around this would be to use offshore banks to transfer funds? Anyone know any reason why this wouldnt work?See...the problem with this whole bill isn't that it will destroy online poker.Hell...Doyle had a whole career playing illegal poker.The problem is that this law will push out the casual player (a.k.a. fish). There will still be bad players of course but rest assured that your average online player is going to be much better.There's no way John Doe-who-wants-to-play-online-because-he-just-watched-a-WPT-episode is going to jump through hoops and set-up an out-of-U.S account to play a game he barely knows.I don't even want to start the discussion about the WSOP ME field yet... Link to post Share on other sites
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