is the solution this simple?

[samoleus]

I hope I am not missing something. I hardly slept last night after the terrible news. ... But this morning, I had an idea.

If one were simply to open a Canadian bank account, and get a Canadian internet service provider (and get a phone account that has free calls to Canada), would all the problems (other than the reduction in fish) be taken care of?

This seems like a somewhat simple solution. I would really appreciate any insight on this - did I miss something?

Thanks,
samo

[jmillerdls]

[ QUOTE ]
I hope I am not missing something. I hardly slept last night after the terrible news. ... But this morning, I had an idea.

If one were simply to open a Canadian bank account, and get a Canadian internet service provider (and get a phone account that has free calls to Canada), would all the problems (other than the reduction in fish) be taken care of?

This seems like a somewhat simple solution. I would really appreciate any insight on this - did I miss something?

Thanks,
samo

[/ QUOTE ]

Yeah, sure...you can do that (I honestly don't know if you can or not).

But, do you expect all the guys that suck, and reload weekly to go through all this trouble to lose more money? It seems like a majority of people are focusing on what they can do to keep playing...but the real question is how you expect to make money when Party at peak hours is filled with 15,000 players, 14,000 of which are professional multi-tablers.

[kitaristi0]

[ QUOTE ]
15,000 players, 14,000 of which are professional multi-tablers.

[/ QUOTE ]

So there are 1000 fish combined in the rest of the world?

[HSB]

[ QUOTE ]
I hope I am not missing something. I hardly slept last night after the terrible news. ... But this morning, I had an idea.

If one were simply to open a Canadian bank account, and get a Canadian internet service provider (and get a phone account that has free calls to Canada), would all the problems (other than the reduction in fish) be taken care of?

This seems like a somewhat simple solution. I would really appreciate any insight on this - did I miss something?

Thanks,
samo

[/ QUOTE ]

As far as I can tell, yes getting the money in is that simple.

But it's the player pool that is the problem.

[samoleus]

[ QUOTE ]
[ QUOTE ]
15,000 players, 14,000 of which are professional multi-tablers.

[/ QUOTE ]

So there are 1000 fish combined in the rest of the world?

[/ QUOTE ]

Guys, I specifically mentioned problems OTHER THAN reduction in the fish. Can we please keep the discussion in this thread on the logistic issues? Please?

[yad]

samo,
I'm sure it is doable, and not too hard either. a few years ago i spent a year studying in england and once i had established a residence there it was no problem to open up a uk bank account. that account is still open though i have been back in the US for years. So worst case scenario, you could go there, set up a place for a month or two, get a bank account, and then come back. Probably would be even easier than this, frankly.

That said, the US government has a number of regulations affecting this stuff. Most importantly, you have to report to the treasury department whenever you have foreign accounts that total more than 10K. Back in the day I don't think they cared about it at all, just put it in a file somewhere. but now with all the antiterror rules, who knows.

[jmillerdls]

[ QUOTE ]
[ QUOTE ]
15,000 players, 14,000 of which are professional multi-tablers.

[/ QUOTE ]

So there are 1000 fish combined in the rest of the world?

[/ QUOTE ]

uhh...no. Clearly the math hasn't been figured out (you moron).

However, how many fish from other countries do you think are online every night at Party? How many do you think will be there when 90% of all US fish are gone, and the place is filled with a majority of sharks instead of fish?

So, while you are right, there are not a combined 1000 fish in the entire world (fantastic assumption on your part), I'd say the amount left on PARTY after this goes into affect is going to be substantially less...

[Guppies]

Depending on how the legislation gets implemented what you are suggesting could get you in serious trouble for money laundering/fraud/tax evasion. This is my initial (mostly uninformed) gut instinct as to why what you are suggesting would be borderline illegal (although in reality I'm pretty sure you could get away with it).

[samoleus]

[ QUOTE ]
samo,
I'm sure it is doable, and not too hard either. a few years ago i spent a year studying in england and once i had established a residence there it was no problem to open up a uk bank account. that account is still open though i have been back in the US for years. So worst case scenario, you could go there, set up a place for a month or two, get a bank account, and then come back. Probably would be even easier than this, frankly.

That said, the US government has a number of regulations affecting this stuff. Most importantly, you have to report to the treasury department whenever you have foreign accounts that total more than 10K. Back in the day I don't think they cared about it at all, just put it in a file somewhere. but now with all the antiterror rules, who knows.

[/ QUOTE ]

I plan on claiming my winnings and paying my taxes anyway, so the second part is not a problem. But are you saying that I have to establish residence in a country before I can open a bank account there?

[DeNutza]

We've discussed this topic a bit already in this thread concerning
foreign bank accounts:

http://forumserver.twoplustwo.com/showfl...rt=all&vc=1 (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Number=7485602&page=0&fpart=all &vc=1)

[ QUOTE ]
Depending on how the legislation gets implemented what you are suggesting could get you in serious trouble for money laundering/fraud/tax evasion. This is my initial (mostly uninformed) gut instinct as to why what you are suggesting would be borderline illegal (although in reality I'm pretty sure you could get away with it).

[/ QUOTE ]

Starting and funding/withdrawing from a foreign bank
account is NOT illegal....So long as you specify
on your tax returns that you have a foreign bank
account (they always ask too).....Absolutely nothing
would be illegal about this method.

[calmasahinducow]

samo,

Not in Canada, no. I thought about this like a year ago when I first heard about this legislation (see location). Getting a bank account in Canada is very easy. I am pretty sure getting a Canadian ISP is impossible. In Buffalo (i.e. 2 minutes away from Canada), the ONLY broadband provider that I know of was Adelphia, now RoadRunner. Good luck.

[calmasahinducow]

[ QUOTE ]
nothing
would be illegal about this method.

[/ QUOTE ]

except for the fact it is illegal to put a wager in online.

[Guppies]

[ QUOTE ]

Starting and funding/withdrawing from a foreign bank
account is NOT illegal....So long as you specify
on your tax returns that you have a foreign bank
account (they always ask too).....Absolutely nothing
would be illegal about this method.

[/ QUOTE ]

I know using a foreign bank account isn't illegal, but is using a foreign bank account with the intention of circumventing US law illegal?

[samoleus]

[ QUOTE ]
We've discussed this topic a bit already in this thread concerning
foreign bank accounts:

http://forumserver.twoplustwo.com/showfl...rt=all&vc=1 (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Number=7485602&page=0&fpart=all &vc=1)

[ QUOTE ]
Depending on how the legislation gets implemented what you are suggesting could get you in serious trouble for money laundering/fraud/tax evasion. This is my initial (mostly uninformed) gut instinct as to why what you are suggesting would be borderline illegal (although in reality I'm pretty sure you could get away with it).

[/ QUOTE ]

Starting and funding/withdrawing from a foreign bank
account is NOT illegal....So long as you specify
on your tax returns that you have a foreign bank
account (they always ask too).....Absolutely nothing
would be illegal about this method.

[/ QUOTE ]

But in terms of logistics, does one have to establish residence in a foreign country to be able to start a bank account in that country?

[Sniper]

[ QUOTE ]
Depending on how the legislation gets implemented what you are suggesting could get you in serious trouble for money laundering/fraud/tax evasion. This is my initial (mostly uninformed) gut instinct as to why what you are suggesting would be borderline illegal (although in reality I'm pretty sure you could get away with it).

[/ QUOTE ]

Having a foreign bank account is not illegal... however, there are reporting requirements, and obviously you need to pay taxes on all income regardless of source.

[MicroBob]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
15,000 players, 14,000 of which are professional multi-tablers.

[/ QUOTE ]

So there are 1000 fish combined in the rest of the world?

[/ QUOTE ]

uhh...no. Clearly the math hasn't been figured out (you moron).

However, how many fish from other countries do you think are online every night at Party? How many do you think will be there when 90% of all US fish are gone, and the place is filled with a majority of sharks instead of fish?

So, while you are right, there are not a combined 1000 fish in the entire world (fantastic assumption on your part), I'd say the amount left on PARTY after this goes into affect is going to be substantially less...

[/ QUOTE ]


there's no such thing as a bad Canadian or European poker player. Seriously, everybody knows that.

All the players who will be left will be as good as Howard Ivey or Doyler Greenstein or something and will be completely impossible to beat.

There's absolutely no way anybody can beat weak-tight 12/4 players at the 3/6 tables because we all know that the European players are truly super-psychic poker-machines that never lose.


I would love for all the fish to stay too. But seriously, I'm really not that concerned about whether they are there or not.
As long as there are games I believe I am a favorite at the lower stakes that I can multi-table and earn RB and bonuses on.

As long as I can fund the accounts conveniently and am not blocked from the sites I'm okay with what's happening.

I understand wanting the fish to never go away. But completely panicking about it and acting like the games are completely unbeatable is a bit over the top.

[calmasahinducow]

samo,

Not in Canada, no.

[samoleus]

[ QUOTE ]
[ QUOTE ]
Depending on how the legislation gets implemented what you are suggesting could get you in serious trouble for money laundering/fraud/tax evasion. This is my initial (mostly uninformed) gut instinct as to why what you are suggesting would be borderline illegal (although in reality I'm pretty sure you could get away with it).

[/ QUOTE ]

Having a foreign bank account is not illegal... however, there are reporting requirements, and obviously you need to pay taxes on all income regardless of source.

[/ QUOTE ]

But would one have to establish residence in the country where you open your bank account?

[bkholdem]

Although I do not have one, it is my understanding that it is quite possible for US citizens to have foreign bank accounts. It is also my understanding that it is not illegal.

Someone did say that neteller would not link to a canadian bank account of a US citizen but there were really no details and I did not check on this. Check with neteller on this.

I will play under a foreigners name so as long as i can access the sites i can play. From the few posts I have read in the legislation forum it seems the prevailing opinion is that actual access to the sites will not be blocked as the responsibility falls on the companies and not the ISP providers. The companies are already foreign so they are not subject to our laws.

I wish i knew more about the internet and such to get a better understanding on how easy or difficult it is to work around blocked sites.

Someone with your financial means will most certainly be able to access the sites and fund them. Go read all the threads as there are some intelligent posts on the situation.

[bkholdem]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Depending on how the legislation gets implemented what you are suggesting could get you in serious trouble for money laundering/fraud/tax evasion. This is my initial (mostly uninformed) gut instinct as to why what you are suggesting would be borderline illegal (although in reality I'm pretty sure you could get away with it).

[/ QUOTE ]

Having a foreign bank account is not illegal... however, there are reporting requirements, and obviously you need to pay taxes on all income regardless of source.

[/ QUOTE ]

But would one have to establish residence in the country where you open your bank account?

[/ QUOTE ]

Do a web search. You can open an account over the internet in some countries I think. Plenty of people have offshore accounts.

[DeNutza]

[ QUOTE ]

I know using a foreign bank account isn't illegal, but is using a foreign bank account with the intention of circumventing US law illegal?

[/ QUOTE ]

no because the burden of this law is purely on financial
institutions, not the players..."Circumventing" the
law, would mean the US banks, etc would be searching
for loopholes to get around the bill....They would
have had to say in the bill that players/bettors
cannot use foreign bank accounts for online gambling.

[DeNutza]

[ QUOTE ]
[ QUOTE ]
nothing
would be illegal about this method.

[/ QUOTE ]

except for the fact it is illegal to put a wager in online.

[/ QUOTE ]

Huh? Did you read anything at all in this forum?
(Please dont start quoting the Wire Act)

[Dazarath]

Would an HSBC account be considered a foreign bank account? If not, would they let a US citizen open a foreign account under them?

[yad]

[ QUOTE ]
[ QUOTE ]
samo,
I'm sure it is doable, and not too hard either. a few years ago i spent a year studying in england and once i had established a residence there it was no problem to open up a uk bank account. that account is still open though i have been back in the US for years. So worst case scenario, you could go there, set up a place for a month or two, get a bank account, and then come back. Probably would be even easier than this, frankly.

That said, the US government has a number of regulations affecting this stuff. Most importantly, you have to report to the treasury department whenever you have foreign accounts that total more than 10K. Back in the day I don't think they cared about it at all, just put it in a file somewhere. but now with all the antiterror rules, who knows.

[/ QUOTE ]

I plan on claiming my winnings and paying my taxes anyway, so the second part is not a problem. But are you saying that I have to establish residence in a country before I can open a bank account there?

[/ QUOTE ]

You certainly don't have to establish legal residence in another country to set up a bank account there. But in the UK, at the time I set up my account (around 7 years ago), I had to have a local address. Sounds like for Canada not even that is required, but I'm sure this varies by country, and by bank.

[MrBrightside]

[ QUOTE ]
I wish i knew more about the internet and such to get a better understanding on how easy or difficult it is to work around blocked sites.

Someone with your financial means will most certainly be able to access the sites and fund them. Go read all the threads as there are some intelligent posts on the situation.

[/ QUOTE ]

Blocked sites thing is easy.. proxy server. see my post here: LINK (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Number=6554731&an=&page=0&vc=1)

[AtticusFinch]

[ QUOTE ]

I will play under a foreigners name so as long as i can access the sites i can play.

[/ QUOTE ]

This is technically fraud. A better approach would be to create a foreign corporation and play with corporate funds. In Canada, this has the added benefit that gambling profits are not taxable. You'd only have to pay taxes ont he dividends, and at the lower dividend rate.

I'm an attorney, by the way, and can answer individual questions if desired.

[Indiana]

[ QUOTE ]
[ QUOTE ]
I hope I am not missing something. I hardly slept last night after the terrible news. ... But this morning, I had an idea.

If one were simply to open a Canadian bank account, and get a Canadian internet service provider (and get a phone account that has free calls to Canada), would all the problems (other than the reduction in fish) be taken care of?

This seems like a somewhat simple solution. I would really appreciate any insight on this - did I miss something?

Thanks,
samo

[/ QUOTE ]

As far as I can tell, yes getting the money in is that simple.

But it's the player pool that is the problem.

[/ QUOTE ]

Let's be honest, we are gonna have to beat the Euro and Canadian fish for awhile until prohibition is lifted. I'm ok with that.

Indy

[permafrost]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
nothing
would be illegal about this method.

[/ QUOTE ]

except for the fact it is illegal to put a wager in online.

[/ QUOTE ]

Huh? Did you read anything at all in this forum?
(Please dont start quoting the Wire Act)

[/ QUOTE ]


So you have read that an online wager is lawful in some specific place in the US?

[1p0kerboy]

[ QUOTE ]
So you have read that an online wager is lawful in some specific place in the US?


[/ QUOTE ]

I haven't read that eating breakfast is lawful in any particular place, yet I do it every morning. /images/graemlins/confused.gif

[permafrost]

[ QUOTE ]
[ QUOTE ]
So you have read that an online wager is lawful in some specific place in the US?


[/ QUOTE ]

I haven't read that eating breakfast is lawful in any particular place, yet I do it every morning. /images/graemlins/confused.gif

[/ QUOTE ]

Oookaaay. Sorry to confuse you,I'll try again.

You derided someone's claim that a wager online is illegal, saying they missed something that could be gleaned in this forum. I also missed that something, so please be fair and share with us where and how and when an online wager is legal!