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More legal questions about online gaming
Legality of Online Poker Thread #1
1. Do you think that Poker Stars will continue to allow players with American IP's after the 270 day mark? If yes, do you think that MoneyGram will continue to work with Poker Stars? If yes, do you think that Poker Stars will continue to be able to send cheques to a US address? It occured to me that the US government could deliver the final blow by making it impossible for people to cashout. 2. Will Party do a wire transfer to any bank account, or does it have to be in the same country as your registered address? Will they do a transfer to a US bank? For the following questions, assume that Poker Stars and the other remaining sites either leave the USA or that it becomes impossible to deposit and/or withdraw using the current options of MoneyGram, ePassport, etc. The only way to continue playing is with a foriegn address and bank account. From which countries do you feel the most safe storing your money? Would you consider using a bank account in a country which does not explicitly allow online gambling on private websites such as Party Poker? Suppose you open a bank account in Hong Kong, then you start sending tens of thousands of dollars to it from the Neteller. How do you think they will react? Does anyone have a list of countries where online gambling is legal and regulated? If you open a bank account in one of these countries, and then use it simply as an intermediate: Neteller -> This Account -> USA account, how do you think they will react? If you are using a bank account in one of these countries, and live there during the year, you have now created a paper trail that will allow you to be taxed if that country taxes gambling winnings. It seems to me that the absolute most safest option at the current moment is to open an account in the United Kingdom. They do not tax online gambling and it is legalized and regulated. Do you agree with this, or is there something I am missing? Do you feel that Neteller will go bankrupt after the US is done with it. If you are a foriegn player, do you feel safe using Neteller? |
#2
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Re: More legal questions about online gaming
[ QUOTE ]
It occured to me that the US government could deliver the final blow by making it impossible for people to cashout. [/ QUOTE ] hasn't it always been that the majority of people never cashout. |
#3
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Re: More legal questions about online gaming
you might want to start by answering your own questions in your thread
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#4
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Re: More legal questions about online gaming
[ QUOTE ]
It seems to me that the absolute most safest option at the current moment is to open an account in the United Kingdom. They do not tax online gambling and it is legalized and regulated. Do you agree with this, or is there something I am missing? [/ QUOTE ] Don't forget that if you are a U.S. citizen you still owe taxes even if your winnings or income came in another country. |
#5
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Re: More legal questions about online gaming
[ QUOTE ]
[ QUOTE ] It seems to me that the absolute most safest option at the current moment is to open an account in the United Kingdom. They do not tax online gambling and it is legalized and regulated. Do you agree with this, or is there something I am missing? [/ QUOTE ] Don't forget that if you are a U.S. citizen you still owe taxes even if your winnings or income came in another country. [/ QUOTE ] btw you happen to know what happens to duel citizens? so far my solution has been to not pay tax and not look into it, it's working out pretty well |
#6
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Re: More legal questions about online gaming
I hope the next four responses are better than these.
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#7
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Re: More legal questions about online gaming
[ QUOTE ]
1. Do you think that Poker Stars will continue to allow players with American IP's after the 270 day mark? [/ QUOTE ] The 270 day mark is the deadline for banking regulations. Accepting deposits became illegal as soon as the bill was signed (assuming said deposits are for "illegal internet gambling"). |
#8
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Re: More legal questions about online gaming
f2,
The Stars/Party questions are just too company-specific to address intelligently, tough to even make a guess without knowing more about their operations. I suspect Stars is more liekly to be "US-player-friendly" because I don't believe they have the global reach and additional revenue streams to compare to Party. But that's not much more than pure speculation from me, I haven't looked at Party reports in a long time. Regarding foreign country policies, I have absolutely no clue about what the climate/stance of foreign governemtns is when it comes to enforcement. Regarding Neteller, I suspect that they will continue to be a viable business. Online gambling is not going to die in the rest of the world, and managing those transactions alone should probably be enough to sustain the market leader. "It seems to me that the absolute most safest option at the current moment is to open an account in the United Kingdom. They do not tax online gambling and it is legalized and regulated. Do you agree with this, or is there something I am missing?" That seems like a pretty reasonable position. |
#9
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Re: More legal questions about online gaming
[ QUOTE ]
[ QUOTE ] It occured to me that the US government could deliver the final blow by making it impossible for people to cashout. [/ QUOTE ] hasn't it always been that the majority of people never cashout. [/ QUOTE ] even my fishy friends withdraw sometimes |
#10
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Re: More legal questions about online gaming
As a US citizen [which includes if you later get a dual citizenship] your worldwide income is taxable to the IRS.
If you attempt to give up your citizenship, they apply 10 years of their estimated tax on your income, to you upfront. Cf. Dorrance case, et al. |
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