Firepay bailing out of US Market - Page 4

Robby Box · #31 10-10-2006, 05:31 AM

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This isnt THAT big a deal, except it will cause some of the fish to leave the game of course. I envision situations where foreign players at the tables will help facilitate transfers to Americans in need. Something like transfer them $100 over Paypal, then they in turn transfer it on Full Tilt or whatever. Trust would be an issue but maybe the sites could help with that.

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Are you on crack?

BluffTHIS! · #32 10-10-2006, 06:05 AM

CoyRoy,

Don't you have any interest in anything on the overall legislation matter other than neteller? I mean are you really just a poker player who only registered this week here just to talk about neteller?

whangarei · #33 10-10-2006, 06:35 AM

Anybody know the relative market share of Firepay vs. Neteller for US poker players?

Richas · #34 10-10-2006, 06:39 AM

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I never understood why people used Firepay over Neteller anyway. $6 to deposit and $10 to withdraw vs free EFT's?

How about we include the Neteller and Firepay statements on Berge20's sticky?

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FYI as a non US customer I pay nothing to use Neteller to deposit or withdraw - sounds like the $6 and $10 fees are a direct result of protectionism.

DJSirMatthew · #35 10-10-2006, 06:47 AM

Same here, no deposit, nor withdrawal costs for me either.

malo · #36 10-10-2006, 06:53 AM

I am trying to figure out what I am missing here.

Currently, Neteller is a primary method for moving money in and out of gambling sites. Firepay is used less, because of the fees they assess. But these companies are not the only ducks in the pond.

Stars offers Central Coin. Other sites (Poker Room and skins, Full Tilt, UB, Absolute) offer some combination of Moneybookers, Click2Pay, and Epassporte. While I would hate to lose Neteller, there are other options in existence right now (and a good chance that other companies would spring up if Neteller does in fact bail out of the US market.)

Richas · #37 10-10-2006, 06:57 AM

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I am trying to figure out what I am missing here.

Currently, Neteller is a primary method for moving money in and out of gambling sites. Firepay is used less, because of the fees they assess. But these companies are not the only ducks in the pond.

Stars offers Central Coin. Other sites (Poker Room and skins, Full Tilt, UB, Absolute) offer some combination of Moneybookers, Click2Pay, and Epassporte. While I would hate to lose Neteller, there are other options in existence right now (and a good chance that other companies would spring up if Neteller does in fact bail out of the US market.)

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These services are provided by subcontractors to the gambling sites, the subcontractors would be breaking the law so the poker sites are dependent on them being willing to break the law. They could all pull out to focus on other Internet transactions.

Drop a Deuce · #38 10-10-2006, 07:09 AM

Has anyone contacted firepay to see how they will handle surrent USA accoutns? I have close to 1/2 of my roll in firepay, or sites that I must withdraw to firepay.

This sucks so bad. I live in MD, so no Neteller for me. Hopefully, epassporte can stay around, which would be good for the fish 'cause they can deposit by credit card. I guess I need to move all of my funds to epassporte friendly sites. [censored]!

malo · #39 10-10-2006, 07:12 AM

Why would a company whose product is used for other purhcases besides gambling pull out of the US market?

Moneybookers, Central Coin and Click2Pay are accepted by other online merchants, and used by purchasers. Epassporte is a prepaid debit card based overseas. Presumably, they code purchases in a way similar to banks, and of course the banking industries concern is how they would go about altering their coding to detect gambling transactions. This is a process that will cost money, which doesn't thrill them. Consequently, we do not know what the final regs will look like, as we have no idea just how lax or stringent the regs will end up being.

Undoubtedly, the sites could set it up so deposits from any of these sources go to a "neutral" account that does not get flagged as a gambling transaction.

The question still in my mind is: why would a company used worldwide for many types of transactions (unlike Neteller which is predominately focused on the gambling market) be ready to bail on the US market because some of the purhcases may be gambling site deposits? If they are offshore, it appears they are not subject to US banking law or any new regs that might be created. If for whatever reason they would choose to comply, they would still face the problems of US banking---gambling sites having deposits go to a "neutral" account that would not raise flags as a gambling purchase.

satya · #40 10-10-2006, 08:13 AM

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These services are provided by subcontractors to the gambling sites, the subcontractors would be breaking the law so the poker sites are dependent on them being willing to break the law. They could all pull out to focus on other Internet transactions.

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Breaking US law.

There are currently approximately 16,000 abducted US children living abroad. Our gov't does little to get them back. I'm betting there'll be more than a few payment processors willing to break US law - especially if Neteller were banned or backed out. The market would be huge, the risk small. I doubt most countries would extradite CEOs engaging in legal business operations.

I can't wait until '08 when Frist's scam is uncovered and Iowa discovers all us degenerate heathens are still funding accounts with credit cards and destroying the American family playing 25NL.

Meanwhile some 6 year old American virgin is being held by some pedophilic jihadist because the US doesn't want to upset diplomatic relations with Saudi Arabia.