Just don't cashout from Neteller

[Maulik]

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What other cashout methods would you suggest for amounts >10k?

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People shouldn't have $10k if they don't have ideas of what to use; wire transfer homie!

[Knight Vision]

Why does this matter if PP and Stars won't let us play?

[westmt01]

That's a great idea if you have a non-U.S. based bank account.

[glass_onion]

i'd get a series of checks for $2900. Get a check Twice a week, for as long as it takes. Keep it off the logs; two tiers of reporting, one at $3k and one at 10K.

[Wools]

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i'd get a series of checks for $2900. Get a check Twice a week, for as long as it takes. Keep it off the logs; two tiers of reporting, one at $3k and one at 10K.

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re: I'd get busted for Structuring.

[nhtool]

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I think you missread the text of the bill : CASH OUT WILL NEVER BE ILLEGAL

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where does it say that? seriously. that's a pretty big deal for those of us with significant $$$ online who aren't worried about having to deposit more anytime soon. if sites will still allow me to play and cashing out is not illegal, then from a legal standpoint i'll have nothing to worry about. (from a quality of games standpoint, though, there'd be of course lots of worries.) anyway, i don't see anything in the bill indicating that it's legal to receive EFTs after winning money online. would love clarification on this if anyone can offer it.

[deucedeuce00]

Check this out.

[Halstad]

It doesn't say anywhere in the bill cashouts are legal. The bill only states what is ILLEGAL. Since cashouts are not mentioned in the bill, cashouts are legal. Does this make sense? This is just MO, but I think I'm correct.

[Copernicus]

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It doesn't say anywhere in the bill cashouts are legal. The bill only states what is ILLEGAL. Since cashouts are not mentioned in the bill, cashouts are legal. Does this make sense? This is just MO, but I think I'm correct.

[/ QUOTE ]

I think you are correct except for a possible problem for professional gamblers. the bill prohibits a "person" in the business of betting or wagering from accepting a payment.

The hobby player is not in the business, a pro player (via filing taxes as a pro or possible investigation that shows X% of his income is gambling) probably is in the business.

[breaktwister]

to westmt01

the legislation does not prohibit any tranfers to firms "associated" with online gambling. The language is quite clear that only firms which carry out "betting or wagering as a business" are banned as receipiants of tranfers.

1) Neteller is exempt as it is under no due to comply with US law and to refuse such tranfers
2) Neteller does not carry out "the business of betting or wagering" and is therefore exempt from what the legislations refers to as a "restricted transaction".

This would be akin to the US gov attempting to put restrictions on foreign banks. Eg once you move your $$$$ from your US based bank or cc into Neteller or any other non-US financial institution then the US can have no further say as to what can be done with your $$$$.