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#31
10-09-2006, 05:54 PM
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Re: Stars Update #2
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On Friday, Bush will be signing this law, and if Pokerstars accepts one deposit after that point, they will be breaking this law. [/ QUOTE ] This may be quibbling but I believe that the new law will make it illegal for them to accept wagers. I do not think it is illegal for them to accept a deposit. 
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#32
10-09-2006, 06:12 PM
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Re: Stars Update #2
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but you do seem to have a hidden agenda. [/ QUOTE ] You got to expect a lot of short sellers in these stocks hit hardest to be doing their part to keep the decline going. Spreading rumours is a big part of that. Once the stocks rebound and they have to buy it back, they will never be seen here again posting, since they probably don't even play poker.
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#33
10-09-2006, 06:13 PM
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Re: Stars Update #2
It is exactly the other way around.
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#34
10-09-2006, 06:15 PM
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Re: Stars Update #2
Sportsbetting, every one.
PStars has always had an amazing number of functions run from the US however.
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#35
10-09-2006, 06:19 PM
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Let\'s make it a wager, then
I'll take that bet if you care to offer it.
Neteller will not shut off the US business the day the Safe Ports Act is signed by President Bush, and I'll spot you an additional 5 business days.
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#36
10-09-2006, 06:25 PM
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Re: Stars Update #2
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Why would Barclay's end their relationship with Neteller. Neteller has alot of non-internet gambling site business. [/ QUOTE ] This has been brought up many times, name me 5 places I can spend my neteller dollars on merchandise, not gambling sites.
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#37
10-09-2006, 06:28 PM
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Re: Stars Update #2
[ QUOTE ]
While again I have no reason to believe that stuff about Barclay's terminating their relationship with neteller (and that would only matter if neteller can't find another banking relationship), Barclay's might be worried that they would be identified as the financial institution funding gambling sites, with neteller being viewed as a super account aggregator or something while Barclay's is the real underlying bank. However even then, that is just the same as if you transferred funds from a US bank to a canadian one you had, and then from that one to a poker site. That other bank is still one step removed, not on US soil, and thus not subject to the transactions prohibitions of the legislation. [/ QUOTE ] I worked in a bank for a few years in the 80's. Banks do not like gray areas. If their counsel feels that having a company is primarily focused on only gambling transactions, they will close the relationsship with the "rogue" company.
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#38
10-09-2006, 06:32 PM
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Re: Stars Update #2
[ QUOTE ]
This has been brought up many times, name me 5 places I can spend my neteller dollars on merchandise, not gambling sites. [/ QUOTE ] I honestly don't know anywhere to spend neteller $ that's not gambling related, but there's certainly places that aren't actual sites. 2p2, PokerTracker, PokerAce, and most of the other poker software sites allow Neteller payments. Granted I doubt that helps our case much, but it's not "just" gambling sites.
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#39
10-09-2006, 06:38 PM
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Re: Stars Update #2
[ QUOTE ]
[ QUOTE ] [ QUOTE ] My opinion unfortunately is that Neteller will cease US business as soon as the bill is signed into law. [/ QUOTE ] Given that this is against every single thing they have said, why do you feel this way? [/ QUOTE ] Mostly because of reports like this: http://www.majorwager.com/index.cfm?...how_column=289 Neteller's bank accounts at Barclays rumoured to be shut down if Bush signs The are rumours abound that Barclays will be shutting down Netellers accounts when and if President Bush signs the Internet Gaming Prohibition Bill. Sources have told MajorWager that Neteller has decided to cease US operations should Bush sign the Bill. Neteller was contacted and has yet to respond to these rumours at this time. [/ QUOTE ] Neteller is a publicly traded company, and assuming UK regs are roughly similar to the US, they would be obligated to report something like this if it were more than a rumor. Their official statement as I understand it wrt US customers is business as usual until after the 270 days when they see what the banking regs are.
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#40
10-09-2006, 06:39 PM
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Re: Stars Update #2
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My opinion unfortunately is that Neteller will cease US business as soon as the bill is signed into law. [/ QUOTE ] The US Treasury has 270 days from the signing to write the banking rules to impliment the bill. Neteller has said that it will do nothing until it sees those rules.
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