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Old 08-05-2007, 10:21 AM
WichitaDM WichitaDM is offline
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Join Date: Oct 2004
Posts: 316
Default Re: Impending Regulations/Reality Check

Being an online pro for the last four years this is a big concern for me also. But having studied this a lot i will give you my take on what i know about this issue.

First off Epassporte is slightly better positioned than the other payment processors in one way being that they dont take "gambling" transactions, only poker transactions.

They are in a tough position with regard to the regulations because as i understand it they are based here in the US of A. In other words if the regulations strictly prohibit ePassporte, they will likely have to close shop to us.

That being said, im not sure anybody has any idea what the regulations have in store for us at this point. They are over a month late now and frankly could be just about anything. From my understanding of the way this is going to work the worst case scenerio will look something like this.

The regulations come out next week
Epassporte immediately closes up shop
We have to rely on checks during the comment period
The 90 day comment period ends and the poker sites decide they can no longer stay in the market because of the harshness of the regulations

However what i think will happen is somewhere in between what we have now and the above scenerio.

I see the regulations coming out sometime in August.
During the 90 day comment period it will be the status quo.
After the comment period when they go into effect we will be down to basically checks and a few minor processors.
Epassporte surviving is possible due to the non handling of sportsbetting and casino gambling.
Possibly one or two of the major sites will close to the US.

Personally i hope we maintain the status quo after the regulations, but i think there will be at least minor damage. I do think it will stop short of total shutdown though. There is going to be too little money and attention spent on this by the federal govt, and too much demand by US citizens to compeltely close this market.
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