The Safety of Our Funds

[cartman]

I think it is a safe assumption that none of us knows for sure the way the online poker landscape will change as a result of the recent legislation. But whether the games are available, tougher, etc. are all long term issues in my opinion.

The immediate concern for me is that either a site and/or Neteller will suddenly refuse to allow me to withdraw my funds in the name of the new legislation. For me to have sufficient lattitude regarding my number of tables and sometimes number of sites, I typically need at least 500 big bets total in the sites and Neteller combined and often as high as 1000 big bets. Although I realize that it is extremely unlikely that this money would be "stolen" from me, such an event would be catastrophic.

I am aware that it may not make sense for a given site to refuse to return American players' funds because of the potential adverse impact on it's non US business. But Neteller for example could conceivably find itself with nothing to lose by the time the regulatory dust settles and consequently be more likely to simply refuse to pay us. I am less than exuberant about betting 500+ big bets on the ability of the poker sites to act rationally.

Why should I not be afraid?

Thanks,
Cartman

[Broken Glass Can]

"How I Learned to Stop Worrying and Love the Bomb"

[maurile]

[ QUOTE ]
The immediate concern for me is that either a site and/or Neteller will suddenly refuse to allow me to withdraw my funds in the name of the new legislation.

[/ QUOTE ]
It wouldn't be in the name of the new legislation, since the new legislation does not remotely make it illegal for Neteller to let you make a withdrawal.

What you have to worry about is Neteller deciding that its business model is no longer profitable, and therefore just stealing everybody's money and closing up shop. If they do this, you will have no recourse.

I have no reason at all to suspect that they'll do this, however. I'm keeping money in Neteller with no worries.

[Dunkman]

So you think a company with 3 million customers, that transferred over 7 BILLION DOLLARS last year, that is publically traded on the London Stock Exchange, is just gonna decide to pocket your bankroll. Just think about that for a minute.

[mikeh1975]

i'm not worried about neteller itself BUT i'm worried about the bank blocking neteller.shocked more people aren't worried about the bank blocking neteller.

[Hendricks433]

OMG!!!! YOUR MONEY IS SAFE!!! I cant believe how many morons are there are. You people freak out and panic way too easy. jsut fricken relax. Yes I am relaxed.

[ColdSteel]

[ QUOTE ]
Why should I not be afraid?

[/ QUOTE ]

You should panic.

That always seems to help.

[swarm]

"'m not worried about neteller itself BUT i'm worried about the bank blocking neteller.shocked more people aren't worried about the bank blocking neteller."

Then you put it in a poker site and have them issue you a paper check. problem solved.

I really don't see the US blocking deposits from Neteller. They just don't want money going out of the country.

[Grisgra]

[ QUOTE ]
"'m not worried about neteller itself BUT i'm worried about the bank blocking neteller.shocked more people aren't worried about the bank blocking neteller."

Then you put it in a poker site and have them issue you a paper check. problem solved.

I really don't see the US blocking deposits from Neteller. They just don't want money going out of the country.

[/ QUOTE ]

Or, much easier, you have Neteller issue you a check. Banks aren't tracking where the check comes from.

[damaniac]

[ QUOTE ]
[ QUOTE ]
Why should I not be afraid?

[/ QUOTE ]

You should panic.

That always seems to help.

[/ QUOTE ]

Turning to the Hitchhiker's Guide to the Galaxy would provide some reassurance for everyone right now.