Black Friday and the aftermath: Online Poker Implications

[Geo the Sarge]

stars ok for me cant get on tilt though

+1

[JakAttack]

Fulltilt is clearly not letting anyone withdraw atm....

Spin it up then!!!!

[Dewi_cool]

I withdrew from tilt around 1am & I can get on

[kinboshi]

I withdrew from tilt around 1am & I can get on

Blatant brag post imo.

[Geo the Sarge]

Uninstalled FT then reinstated through fulltilt.co.uk and all ok now

Geo

[George2Loose]

Our funds should be safe. Full tilt and stars have both banned US players.

[Dewi_cool]

I withdrew from tilt around 1am & I can get on

Blatant brag post imo.

Penblwydd hapus xx

[donttiltboy]

withdrawing now isnt gonna do much if there banks and payment processors have been frozen

[TightEnd]

a take from www.makepokerlegal.com


"First off, in spite of what FTP and PS says, this does effect players beyond The USA. 76 Bank accounts have been frozen by The Feds in 14 countries world wide. Simply put, these sites cannot meet any cash out demands because these assets, along with more assets, are frozen and  will be frozen. I expect legit payment processors to ” run for cover” and distance themselves from FTP and PS. Now FTP issued a statement claiming they beleive online poker is legal, as do ” some of the best legal minds in The USA”..  Well, SO DO I!! but this is not about online poker in and of itself, but offshore sites engageing in alleged money laundering and fraud, in order to CIRCUMVENT THE UIEGA, tricking banks to  process these payments, when The UIEGA clearly states it is illegal for them to do so, WILLINGLY, KNOWLINGLY!

In my opinion, the only chance FTP and PS has to beat this case, is for their attorneys to argue that the UIEGA in and of itself is unconstitutional. The Federal Reserve is supposed to be the oversite with jurisdiction. How can a privately held institution like The Fed have this kind of authority? Also, it appears to be a violation of  “equal protection under the law” Article 9, I beleive. Why were some Sports betting and horse racing sites in The USA and abroad allowed to have their payment processors process these bets, wheras online Poker sites were not? Having said all of this, it is likely you will not see your money ever again. It will be seized by The USA GOV, just like they seize alleged Drug dealers money and possesions. I also beleive The USA will claim that the very servers themselves the sites use to run the games, were built and maintained from “illegal and illicit gains”, therefore they will seize those servers with the aid of foreign countries where the servers reside, and effective shut down FTP and PS indefinetly world wide.  I have more to say in the coming days over this issue so stay tuned!"

[Robert HM]

Alarming comment or just alarmist with an agenda, time will tell.

[Longy]

That is one scary post. Let's hope it is alarmist rubbish!

Surely for uk players who have deposited through legal means,our funds are  safe. I was under the impression stars used rbs ( or whatever it is now). The us authorities have jurisdiction over this?

What a mess!!!

[TheFallen]

looks like the big poker companies might have messed up pretty big. DOJ is charging them with bribing small banks who were in financial trouble into processing cashouts. Whether online poker is legal or not therefore becomes a moot point in the legal case. Fraud, money laundering and bribery are much more serious crimes. It seems odd for the site to have been so careless as to leave these dealing to be discovered (looks like some small banks have been turned into co-operators to avoid some charges) - so maybe there is more to the story. Its going to be enough to keep them locked in legal action for a long time though.
 

for non US player, id guess Stars will cover anyone's cash outs even if the money is tied up. The biggest risk I see is if stars/tilt have left too much money vulnerably and now don't have the liquidity to cover cash-outs even if their intention are to do so.

As for seizing non US based servers, companies or funds - cant see this happening. Stars and FT are fully licensed in the UK, hopefully our government has enough sense to not comply with the retarded US DOJ.

The whole thing is just a giant shakedown, US government dont want to drag this through court.

[AndrewT]

As for seizing non US based servers, companies or funds - cant see this happening. Stars and FT are fully licensed in the UK, hopefully our government has enough sense to not comply with the retarded US DOJ.

Stars are licenced in the Isle of Man, Full Tilt are licenced in Alderney in the Channel Islands, neither of which are part of the UK.

[TheFallen]

Stars are licenced in the Isle of Man, Full Tilt are licenced in Alderney in the Channel Islands, neither of which are part of the UK.
[/quote]


isnt FT operations based somewhere out of N Ireland.
quote from stars.
"PokerStars is owned and operated by a legal entity licensed and located in the Isle Of Man (a crown dependency of the United Kingdom) and we pride ourselves in abiding by all relevant laws and regulations. The current situation about which you have inquired only impacts US Players."

regardless, they are both licensed to run in the UK

[Ironside]

Both use the British government for defence and foreign policy so would look to our government to tell the usa to keep hands off