US Players there is hope! Check this out.

[CharlieK]

United States Poker Players Inc.
USPPINC is a newly formed privately held corporation located outside the United States and dedicated to allowing United States CITIZENS AND RESIDENTS to continue to have access to Internet Poker sites throughout the world. We are a POKER PLAYING BUSINESS owned by our investors and stockholders.
USPPINC will soon be seeking investor/owners who wish to continue to participate in the growing world of Internet Poker. As an investor/owner in USPPINC you will become a owner share holder and have the option of becoming an active poker playing employee of USPPINC.

USPPINC is being created as legitimate investor/employee owned POKER PLAYING BUSINESS. All investor/owners in USPPINC will have the opportunity to play poker as an employee of the company, for the company. USPPINC will create the account for you to play at the site you choose from our non U S based Server. Then as a contract employee you will play poker from your home using money invested for you by USPPINC.

Each time you purchase more stock in USPPINC your percentage of ownership increases, YOU BECOME PART OF THE BUSINESS. As the winnings accumulate Business grows at USPPINC and the value of your stock increases. USPPINC anticipates many revenue streams to increase stock value such as affiliate links, rake-bake from the poker rooms, Interest on money held and a small percentage of employee winnings to increase the value of the company.

At no time after the purchase of the stock in USPPINC will a United States based financial Institution be involved in any monetary transaction. NOR WILL ANY EMPLOYEE/OWNER OF USPPINC BE USING U.S. MONEY FOR PLAYING POKER. This will protect our share holders and the company from the law just passed in the SAFE Port Act incorporating the Unlawful Internet Gambling Enforcement Act of 2006 ("UIGEA” or the “Act”) which includes certain provisions to prohibit “unlawful internet gambling” by restricting gambling sites from accepting certain payments from US residents.

[Red Lion]

That website looks very weak and cheesy

[RGL]

But it's an innovative idea with promise. Partners aren't too shabby (FTP, Doyle's, Bodog). Of course it depends on what partner means. Devil's in the details, and in the identity/track record of the founders/big investors. Something like this will undoubtedly evolve as an unintended consequence of the legislation. I'm electing to stay informed of developments through an alternative email to that registered with the sites, but not giveing site nicknames at this point.

[MiltonFriedman]

"Stock transactions are specifically exempted from the UIGEA ... We have highlighted the exemptions and exclusions that we feel make USPPINC a viable and legal operation."


This was an interesting angle, which has largely been rejected by others, because the selling of unregistered securities, i.e. stock, in the United States violates the 1933 Securities Act.

(Remember when PokerShare was dumped by Excapsa ? That was the likely reason.)

The attempt is appreciated, but needs some re-tooling.

That a "shareholder" get paid in shares from the results of his own playing looks like an attempt to make this investment NOT a security. It is a nice try. However, here is the catch highlighted ..."This is so USPPINC and you the shareholder/player <u>will profit from another shareholder/players good play</u> ."

if you buy a share and profit from someone else's efforts, you have bought a security. Aside from whether this is a good investment for a player, it is ILLEGAL to offer unregistered securities for sale in the US.

Your list of pokersite 'partners" is impressive, did they understand that your business is selling unregistered securities in the US ?

Your basic idea IS interesting, but you have not worked through all the issues.

Please get legal advice before you try again to sell shares in the US or re-structure what you are selling so that it is not a security.

[MiltonFriedman]

I would agree.

Some details, such as where they are incorporated and a secured third-party holder of shareholder interests would also help

[Uglyowl]

Jesus christ, I just want to play poker, this is [censored] ridiculous we even need to be talking like this.

[MiltonFriedman]

We don't.

There are plenty of sites which take US play without jumping through hoops.

[CharlieK]

USPPINC is evolving even as I post this reply. We have good legal minds working on this and I can assure you that when it is launched we will be in compliance with the SEC and other agencys as needed. As to where we are from we have incorporated in Dutch St. Maartins and are dealing with a promenent international bank. If you regestered your email we will keep you posted as to our progress. I will be attending a meeting of the Major ownership of online Poker Rooms and Casinos in December in Costa Rica to discuss our service with them. I have been sponsered to that meeting by one of the poker rooms we are currently in contract discussions with.

To Milton, your comments are insightful and helpful. I welcome all that you care to share. We have a forum at USPPINC and I have a section just for this kind of input. So feel free to post your thoughts.

I started this idea 2 months ago as a way to get pass the legislation I knew was being formulated, what you are seeing at USPPINC is a work in progress as we address the many issues.

Thanks agian to all for the discussion. Please keep it up.

CharlieK

[pipedreamz]

so basically we will pay you rake to play poker on these sites legally?

[Python49]

I guess when you go to cash out you are being paid dividends?