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#21
09-30-2006, 01:56 PM
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Re: is the solution this simple?
[ QUOTE ]
I know using a foreign bank account isn't illegal, but is using a foreign bank account with the intention of circumventing US law illegal? [/ QUOTE ] no because the burden of this law is purely on financial institutions, not the players..."Circumventing" the law, would mean the US banks, etc would be searching for loopholes to get around the bill....They would have had to say in the bill that players/bettors cannot use foreign bank accounts for online gambling. 
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#22
09-30-2006, 01:58 PM
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Re: is the solution this simple?
[ QUOTE ]
[ QUOTE ] nothing would be illegal about this method. [/ QUOTE ] except for the fact it is illegal to put a wager in online. [/ QUOTE ] Huh? Did you read anything at all in this forum? (Please dont start quoting the Wire Act)
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#24
09-30-2006, 02:29 PM
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Re: is the solution this simple?
[ QUOTE ]
[ QUOTE ] samo, I'm sure it is doable, and not too hard either. a few years ago i spent a year studying in england and once i had established a residence there it was no problem to open up a uk bank account. that account is still open though i have been back in the US for years. So worst case scenario, you could go there, set up a place for a month or two, get a bank account, and then come back. Probably would be even easier than this, frankly. That said, the US government has a number of regulations affecting this stuff. Most importantly, you have to report to the treasury department whenever you have foreign accounts that total more than 10K. Back in the day I don't think they cared about it at all, just put it in a file somewhere. but now with all the antiterror rules, who knows. [/ QUOTE ] I plan on claiming my winnings and paying my taxes anyway, so the second part is not a problem. But are you saying that I have to establish residence in a country before I can open a bank account there? [/ QUOTE ] You certainly don't have to establish legal residence in another country to set up a bank account there. But in the UK, at the time I set up my account (around 7 years ago), I had to have a local address. Sounds like for Canada not even that is required, but I'm sure this varies by country, and by bank.
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#25
09-30-2006, 02:36 PM
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Re: is the solution this simple?
[ QUOTE ]
I wish i knew more about the internet and such to get a better understanding on how easy or difficult it is to work around blocked sites. Someone with your financial means will most certainly be able to access the sites and fund them. Go read all the threads as there are some intelligent posts on the situation. [/ QUOTE ] Blocked sites thing is easy.. proxy server. see my post here: LINK
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#26
10-05-2006, 08:01 PM
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Re: is the solution this simple?
[ QUOTE ]
I will play under a foreigners name so as long as i can access the sites i can play. [/ QUOTE ] This is technically fraud. A better approach would be to create a foreign corporation and play with corporate funds. In Canada, this has the added benefit that gambling profits are not taxable. You'd only have to pay taxes ont he dividends, and at the lower dividend rate. I'm an attorney, by the way, and can answer individual questions if desired.
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#27
10-05-2006, 08:03 PM
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Re: is the solution this simple?
[ QUOTE ]
[ QUOTE ] I hope I am not missing something. I hardly slept last night after the terrible news. ... But this morning, I had an idea. If one were simply to open a Canadian bank account, and get a Canadian internet service provider (and get a phone account that has free calls to Canada), would all the problems (other than the reduction in fish) be taken care of? This seems like a somewhat simple solution. I would really appreciate any insight on this - did I miss something? Thanks, samo [/ QUOTE ] As far as I can tell, yes getting the money in is that simple. But it's the player pool that is the problem. [/ QUOTE ] Let's be honest, we are gonna have to beat the Euro and Canadian fish for awhile until prohibition is lifted. I'm ok with that. Indy
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#28
10-05-2006, 10:02 PM
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Re: is the solution this simple?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] nothing would be illegal about this method. [/ QUOTE ] except for the fact it is illegal to put a wager in online. [/ QUOTE ] Huh? Did you read anything at all in this forum? (Please dont start quoting the Wire Act) [/ QUOTE ] So you have read that an online wager is lawful in some specific place in the US?
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#29
10-05-2006, 10:21 PM
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Re: is the solution this simple?
[ QUOTE ]
So you have read that an online wager is lawful in some specific place in the US? [/ QUOTE ] I haven't read that eating breakfast is lawful in any particular place, yet I do it every morning. [img]/images/graemlins/confused.gif[/img]
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#30
10-06-2006, 01:14 AM
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Re: is the solution this simple?
[ QUOTE ]
[ QUOTE ] So you have read that an online wager is lawful in some specific place in the US? [/ QUOTE ] I haven't read that eating breakfast is lawful in any particular place, yet I do it every morning. [img]/images/graemlins/confused.gif[/img] [/ QUOTE ] Oookaaay. Sorry to confuse you,I'll try again. You derided someone's claim that a wager online is illegal, saying they missed something that could be gleaned in this forum. I also missed that something, so please be fair and share with us where and how and when an online wager is legal!
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