Pachinko - the model of online poker's future!

[llayner]

Pachinko has created a well structured money launding mechanism in se asia...i really don't want to see online poker go that way.

http://www.ffhsj.com/bancmail/21starch/960701.htm
http://catless.ncl.ac.uk/Risks/18.15.html#subj2

[PokerSlut]

The last time I played pachinko (about 6-7 years ago) you went up to the counter in the pachinko place with your ticket from the pinball counter, and they'd give you some little token "prizes" like 3 green pens and a lighter. You'd then take your prizes to a mysterious hole in the wall around the corner from the pachinko place where a pair of hands would exchange your fabulous pens and lighter for 35,000 yen in cold hard cash.

[Jan]

http://www.rubl.com/news/play-game-20060607-poker.html

[westmt01]

Forget the Vienna Sausages (great post, though!) - just have every site use "play money", and have other completely unaffiliated sites (wink, wink) that buy your play money from you for cash. The problems with this are: a) does this really get around the law?, and b) will very many fish want to jump through all those hoops?. I'd say the answers are probably yes and probably no.

[Some Pig]

I hope I don't get my fourth * for bumping this thread but I think it's justified. The more I think about it the more I'm convinced that this is the ideal model. But instead of trading in virtual dollars with pens and tiny souvenir stuff like stickers and candy as they do with pachinko, the virtual money could be traded in for German bonds, gold deposit certificates in Swiss banks, Swiss anuities, stocks in French blue chip companies, Bermuda hedge fund shares, etc.

To deposit: Buy units of virtual "play money" from a designated non-gambling site. Use the "play money" to play at a poker site. Technically, you would be playing with "play money" which cannot be used as legal tender.

To withdraw: Cash out "play money" units from the site and trade it in for German bonds, Swiss anuities, etc. Then sell it thru a designated broker for cash.

I don't know what the legalities of this would be. I am not a lawyer. I don't think this should be done if it is not legal. This should only be done if it is legal. I wouldn't support it if it were illegal.

Comments?

[derosnec]

omg that's hilarious

[chigger]

Very doubtful this would work.

Anyone play with cold hard cash online???

They have these things called "chips". It seems we already use this model in B&M. Only difference is online its virtual chips.

[westmt01]

I doubt it would work too, but there's a crucial differnce: casino chips, whether physical or virtual, have a discernable cash value. They are, in effect, as good as cash (as long as the issuer honors them, which they are contractually obligated to do). If I understand the Pachinko example correctly, the "redemption" booth is under no legal obligation to redeem your prizes, but they will because they want people to keep gambling.

It does sound a lot like splitting hairs, and maybe it holds no legal water at all, who knows? It does remind me of the site "Second Life", that issues "Linden Dollars". The LD have no legal cash value, yet there's an exchange rate and you can exchange them for cash. The "no legal value" clause in the TOS is undoubtedly used to get around securities and gambling laws, yet you can make real money on the site. Maybe poker sites could come up with the same sort of arrangement. Or maybe not. I guess it's in the lawyers' hands now. God help us.

[stupidsucker]

omg this is great.

We could expand on this idea and make gambling legal everywhere. Instead of balls we could use these.



brilliant!

[semperfi]

[ QUOTE ]
He check raised me 4 vienna sausages...so I put him to a decision for all of his vienna sausages.

He called I had the nuts, SHIP IT.




[/ QUOTE ]

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