The official NETELLER thread. (First 40 days.) #1 of 2.

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Good point. If someone sent 50k to poker sites and sportsbooks, lost 25k and withdrew 25k, providing you had accurate records, there wouldn't be a problem.

But.

This is the beginning of a HUGE mess for alot of folks with Neteller accounts. If you were a small player and only xfered very small amounts, probably not a problem.

But anyone xfering any significant amounts will have to answer questions about it. It may take a couple of years before they get around to you. But they will get around to you.

This is not unlike the folks who had credit and or atm cards from a couple of offshore banks. Visa, or mastercard, handed over all the records. In time, each and every one of those folks had a knock on their door.

Even worse I suppose, is how this will open the door and give the govt a clear glimpse into all the sportsbook and poker sites, as they all did business with neteller and many/most still have their funds tied up.

Without a doubt, this will have a major impact across the board for a few years to come.

The main problem with all of this for those LAW ABIDING players who report their earnings, is that you will have to more than likely spend a significant amount of money defending yourself by hiring a tax attorney.