UIGEA Fallout! Don't Worry about the eWallets: Worry about the Network

[BruinEric]

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So, it should be interesting to see major bank owners do the perp walk any day now.

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Considering the regulations aren't drawn up and delivered to financial institutions yet, your statement is insane.

Please stick to posting facts.

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My statement was intended to be an obvious mockery of the post I directly quoted above what I wrote. I added the "smirk" emoticon (this one: [img]/images/graemlins/smirk.gif[/img] )to help most readers.

The poster whom I quoted wrote "Anyone facilitating deposits from the US at this point is in violation of numerous laws, and will be going to jail"

I added that I'd seen major bank CCs used to "facilitate a deposit from the US." So I drew the intentionally farcical conclusion that, based on the OPs statement, we'd see major bank CEOs doing the "perp walk."

Of course, maybe you're 9th-level-sarcasming me and I'm the one not getting it.

[Billman]

The reason online poker will eventually be destroyed is because of people like those in this thread. Instead of fighting for your rights you're sucking each other off because there's still one or two methods left.

[CobraGoat]

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The poker sites really need to just hook up everyone with an ATM that deposits and debits from their player account.

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Is this even a possibility?

Fnord, can you expound on your post concerning the market for withdrawl only ETFs?

[justaPlayer]

"If you're not part of the solution, you're part of the problem"....

[RoundGuy]

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You guys all do realize it's already over, right? Anyone facilitating deposits from the US at this point is in violation of numerous laws, and will be going to jail where the only funds being transfered will go to Bubba when he loans them out.

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Interesting. It's not over for me. I just deposited yesterday with my debit card.

Does that mean my friendly local banker is on his way to the big house? I don't think so.

You're clueless.

[Billman]

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"If you're not part of the solution, you're part of the problem"....

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Well if the solution is peeing my pants every time a new payment processor announces that they're going to enter the market . . . yes, count me in as part of the problem. If you count running a website that has heavily promoted acitivism on this topic and has worked with the PPA to get the word out as part of the solution then count me in that camp.

[Billman]

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You guys all do realize it's already over, right? Anyone facilitating deposits from the US at this point is in violation of numerous laws, and will be going to jail where the only funds being transfered will go to Bubba when he loans them out.

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Interesting. It's not over for me. I just deposited yesterday with my debit card.

Does that mean my friendly local banker is on his way to the big house? I don't think so.

You're clueless.

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You do know that that option will go away once the regs are passed. Debit cards are not on the ACH/EFT network so each issuing bank has its own rules. Once the UIGEA is formalized I think you can expect for banks that currently allow deposits via debit cards to shut that off too.

[RoundGuy]

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You do know that that option will go away once the regs are passed.

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No, I do not know that, and neither do you. But you are certainly free to make predictions. I'll wait for the facts. We are a long way from the those regs being implemented, and we have no idea what they will say. If they put too much burden on the banks, they will never happen in 270 days.

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Once the UIGEA is formalized I think you can expect for banks that currently allow deposits via debit cards to shut that off too.

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We'll see. But for now, my response to SplawnDarts is still valid. It isn't "already over", and my local banker is in no danger of having a little visit with "Bubba".

Just typical [censored] from people who like to stir the crap.

[Billman]

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You do know that that option will go away once the regs are passed.

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No, I do not know that, and neither do you. But you are certainly free to make predictions. I'll wait for the facts. We are a long way from the those regs being implemented, and we have no idea what they will say. If they put too much burden on the banks, they will never happen in 270 days.


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How much burden would it be for your bank to do exactly what banks currently do? Some debit cards work. Some debit cards don't. The reason for that is the issuing bank can set whatever rules it wants. Many never wanted anything to do with online gaming. Mostly because people like Visa were getting sued to recover gambling losses claiming that Visa should have never authorized an illegal transaction. Your bank chose not to do that. Maybe they've not had any bad experiences. But turning it off is not a burden. They simply do what many other banks have already done.

[RoundGuy]

Well, you can't seem to grasp the original point of my post, which was simply to say that it isn't "already over". But, whatever.

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How much burden would it be for your bank to do exactly what banks currently do?

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I have no idea, and neither do you. Again, speculatation. I know my bank is a very small, rural, midwest bank. They have neither the time, nor extra resources to comply with yet another system of mandates by bank regulators. They will join other small banks in making their voices heard regarding any undue burden. That's my "speculation".

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But turning it off is not a burden. They simply do what many other banks have already done.

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And what is your background, that you can make this universal assertion?