Just don't cashout from Neteller

[goldtoes]

So if I understand everything correctly regarding the bill...it is not specifically banning the Online Poker, but instead just restricting how users can deposit money onto a method such as Neteller, FirePay, the site directly, etc.

So if I were to quickly deposit my whole poker BR onto Neteller before it's illegal, and cashout all of my $$ from sites that will turn down US players and leave it on Neteller and not put it in my bank...I can just shift the funds from Neteller to any new site I want.

But I guess the question is is if you want to deposit your winnings into your checking account, whether they will let you or not.

Am I right in my assumptions?

[WiSeIVIaN]

Yes, though any regulations which prohibit transfers to and from neteller are going to come near the end of the 270 day period to decide how to enforce the anti-gambling crap. All these people freaking out about neteller are going a little overboard, expecially considering the number of sites which are currently likely to keep its doors open to Americans, at least until that 270 day period is up and they know how this will all be enforced.

[jetsetboy]

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

[breaktwister]

goldtoes - you are right in relation to the aims of the new bill. However, the bill refers to existing State or Federal laws in relation to "unlawful internet gambling".

I am aware that many states have laws prohibiting internet gambling but these laws have proved unenforcable hence this new tactic.

[bugman68]

why do you have to cashout from neteller into your bank account why not just use the neteller card and get your money from the atm machine

[SavageMiser]

Some people have significantly more than $300 in their online bankrolls.

[goldtoes]

[ QUOTE ]
why do you have to cashout from neteller into your bank account why not just use the neteller card and get your money from the atm machine

[/ QUOTE ]

true, but they mentioned above that the cashout from neteller to your bank account will never be illegal.

btw, just in case anyone was thinking differently, i was takling about after the xxx day period. once they system is put in place.

I was wondering that myself, but figured cashout was fine.

Not that it matters though. If people can't put money in, there will be nothing for me to take and cash out. Well, I can take non-US player's money I guess.

[westmt01]

Could you point out the specific clause that says this? Every article I've read (from reputable sources such as Reuters and AP) say just the opposite - that banks will be prohibited from engaging in transactions TO OR FROM firms associated with online gambling. This would mean no more cashouts from Neteller to your bank account. I suppose you could have either the poker site or Neteller issue you a check, but would your bank be prohibited from honoring it. I've worked for banks most of my adult life, and I assure you they will take a very conservative approach - they will err on the side of over-cautiousness.

[Tokyo!!]

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