The heart of the matter: extradition

[Self Made]

Full Tilt and Crypto both recently announced moves to Ireland (though the software company TiltWare will continue to be in California).

No site operates from Kahnawake. The tribe just licenses them and hosts their servers. Their operations, and executives, are elsewhere.

[maurile]

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The part of the legislation that these rooms are responding to is not the credit cards/NETELLER business, which will sort itself out in due time -- there is NO reason to ban US customers until at least the 270 days that it takes to promulgate those regulations. Rather, they're responding to the portion of the bill that criminalizes the act of accepting bets from US customers (and which goes into effect immediately).

[/ QUOTE ] I could have sworn Mr. K. posted that the part of the bill that will go into effect immediately is that which states banks cannot do business with online gambling companies. Can someone shed light on this for me?

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What goes into effect immediately is that transactions made for the purpose of placing bets are prohibited.

Within 270 days, regulations will be in place to help prevent the occurance of such prohibited transactions.

Unlawful gaming sites are liable for participating in such prohibited transactions.

Financial institutions are liable only for running afoul of the forthcoming regulations.

So as of tomorrow (or whenever the bill is signed into law), when Bank of America makes a deposit into Bodog on behalf of one of its customers, Bodog is liable and Bank of America is not. As of 270 days from tomorrow (or whenever the regulations are promulgated), when Bank of America makes a deposit into Bodog on behalf of one of its customers, Bodog is liable and Bank of America may also be liable if it does not adhere to the regulations. (If it makes the deposit despite adhering to the regulations, it would not be liable.)

That's my understanding based on a fairly quick reading of the bill, so I may not have it exactly right.

[HoldingFolding]

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I can't believe Party rolled over so easily either.

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You've got to remember that the founders & probably most of the senior executives have made their dosh. Parasol & Dikshit have already taken out over $1bn, why risk your liberty when you can spend the rest of you life in undreamed of luxury without the threat of extradition etc. This is especially true for Parasol since she's from California (though I'm not sure if she has any legal connection to the company still).

[Josh.]

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I can't believe Party rolled over so easily either.

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You've got to remember that the founders & probably most of the senior executives have made their dosh. Parasol & Dikshit have already taken out over $1bn, why risk your liberty when you can spend the rest of you life in undreamed of luxury without the threat of extradition etc. This is especially true for Parasol since she's from California (though I'm not sure if she has any legal connection to the company still).

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i think you way underestimate greed. no matter what you got you always want more

[Kneel B4 Zod]

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I can't believe Party rolled over so easily either.

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You've got to remember that the founders & probably most of the senior executives have made their dosh. Parasol & Dikshit have already taken out over $1bn, why risk your liberty when you can spend the rest of you life in undreamed of luxury without the threat of extradition etc. This is especially true for Parasol since she's from California (though I'm not sure if she has any legal connection to the company still).

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i think you way underestimate greed. no matter what you got you always want more

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if I had $350m in cash in the bank, and there was a 1% chance I could go to jail for 10 years and a 99% chance I could make another $500m...well I would take my $350m and have umbrella drinks and it wouldn't be close.

[P Chippa]

What if the site were to respond like this?:

"We are willing to conform to the US government's wishes on the issue of online gambling. The cost of software and filtering updates is approximately 15 million dollars. (made up number obv.) The ban of US players at our site will be effective immediately upon the US paying for the changes to our current product."

[Colombo]

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DID YOU GUYS NOTE READ THIS POST?????????

"Internet Gambling is 100% legal in the UK and extradition requires that the act is illegal in both countries.

That isn't the case here and I can't see in a million years a UK court allowing an extradition for something that isn't illegal in the UK. "

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For arguements sake, lets say the UK finds a way to extradite the CEOs of stars and paradise.

How easy/hard would it be for stars to relocate to Antigua?

[1p0kerboy]

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well I would take my $350m and have umbrella drinks and it wouldn't be close.


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Nice.

[Nate tha\\\' Great]

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The part of the legislation that these rooms are responding to is not the credit cards/NETELLER business, which will sort itself out in due time -- there is NO reason to ban US customers until at least the 270 days that it takes to promulgate those regulations. Rather, they're responding to the portion of the bill that criminalizes the act of accepting bets from US customers (and which goes into effect immediately).

[/ QUOTE ] I could have sworn Mr. K. posted that the part of the bill that will go into effect immediately is that which states banks cannot do business with online gambling companies. Can someone shed light on this for me?

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No, that's wrong, and I doubt Mr. K. said as much.

[Nate tha\\\' Great]

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party, pacific (888) - gibraltar (UK)
stars - isle of man (UK)
ongame - sweden
full tilt - USA (guess they are the most screwed here?)

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Wrong, Full Tilt is another one of the Kahnawake Gaming Commission sites (Canada).


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i read on here that stars is located in costa rica. is that not right?

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Stars' corporate parent is based in Costa Rica, but its operations are presently based in Isle of Man (though they were once in Costa Rica). That's my understanding, at least.

FWIW, I suspect that one of the things that Stars is thinking about is whether being in a UK jurisdiction is desirable or not. It wouldn't surprise me if they kept games located to US players *but* moved HQ back to Costa Rica, and/or announced the resignations of a number of prominent executives.