UIGEA Screws Tightening on Pro Net Gaming Offshore Banks!

[gaboonviper]

Another very interesting front page article today over at gambling911.com that could have huge ramifications for online poker in the not too distant future. Name of article is; "Online Gambling Friendly Bank In Curacao Warned."

In a nutshell: Giro Bank, which is located in Curacao, and does business with a number of online gambling sites, was warned by its corresponding United States bank to either stop doing business with net gaming companies or lose the relationship with the US bank. This is of course more fallout from UIGEA and it will only continue to grow.

I do not know if any of the poker sites do business with Giro Bank. But what is really important here is that US banks are now starting to directly tell offshore banks that they must either stop doing business with online gaming companies...and of course poker is included here...or have their relationship with the US bank ended.

Well, it is only a matter of time--probably no later than June--before all the US banks that deal with offshore banks who do business with online gaming companies, give those offshore banks such an ultimatum. And then what happens?? The sites are totally cooked if they choose to continue to do business with the US is what happens. This is beacause, obviously, no site can operate without having a relationship with an offshore bank-- and to do business with US players that offshore bank must have a relationship with a United States bank. No offshore bank/US bank relationship, no doing business with the United States players for the online sites.

As we move closer and closer to June you will be seeing more and more of this. I do not see how the remaining US friendly poker sites will be able to continue doing business with US players in such an environment.