Update Friday, September 29th

[dankhank]

well this is one birthday i'll never forget

(whatever happens)

[kleath]

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I don't understand why everyone is viewing this as the end of online poker or their "job".. They are trying to block banks + credit card companies from making transfers to online gambling sites. This still leaves Neteller/Firepay/Moneybookers which are used for many other things other than online poker and there will probably be many other options opening up. There are just too many alternative ways to move money for them to stop us from playing online.

[/ QUOTE ]

Also realize most fish probably arent currently using CC's anyways, they originally had to get a Neteller/Firepay account anyways, if they have to find a new method they'll probably find it.

Not saying this doesnt suck, but its possible not much could really change, we just dont know yet. It'll really depend on how cooperative other payment instruments are to US law, AFAIK a bank cannot block a transaction to something like firepay on the suspicion that you might be using it to gamble, so it would really rest on the payment instruments vigilance on enforcement.

[Dynasty]

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So what's going to happen when they read there paper tomorrow?

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Unless they read it very thoroughly they won't notice.

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If you're watching C-SPAN2 now, you'll notice that nobody in the Senate gives a damn about the internet gambling bill except Frist. They're spending all their time discussing other issues.

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So, the question is, if they don't give a damn, will they just say, "Fine, Frist, we'll vote for it, just shut the [censored] up about it already," or will they say, "[censored] you, Frist. You're a doctor and wouldn't even admit that AIDS can't be transmitted via tears and sweat."

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Given that there are influential Republicans both in and out of the Senate who don't want Frist to get a heads-up in the Iowa Caucus, I'm surprised there hasn't been more quiet resistance inside the Republican Party to stop him. Maybe the other Republican Presidential candidates just don't think this will have any real impact with Christian conservatives.

[Mr.K]

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That is 500 $10 contracts right?

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Yes

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What is wrong is that you are incorrectly assuming that people who lay 90% shots know more than the informed people here.

Remember that if someone had a speculative $5000 at 12-1 (Maybe as insurance against the bill passing for example), then they now have $60000 of equity, that they can lock in a freeroll for a mere $500 and not have to worry what's going on in a place that they might not even really understand.

Lori

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Thanks for answering -- that's a very intriguing explanation, and one that seems at least plausible. I am seriously considering buying all 500 contracts, but can't figure out if there is some idiotic catch.

[Uglyowl]

TRADESPORT one contract = $1 risked to win $9

The 500 contracts is not as overwhelming as it appears.

Mr. K, to buy them all you risk $450 to win $42 after fees

[obi---one]

[ QUOTE ]
I don't understand why everyone is viewing this as the end of online poker or their "job".. They are trying to block banks + credit card companies from making transfers to online gambling sites. This still leaves Neteller/Firepay/Moneybookers which are used for many other things other than online poker and there will probably be many other options opening up. There are just too many alternative ways to move money for them to stop us from playing online.

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I don't know the language of the bill. But. you are looking at this from the wrong perspective, especially for low and mid steakes players. Think of poker like a pyramid. pyramids have very strong, wide, sturdy bases. With this bill, all casual (read sucky players) won't play because it will be too hard to get money into poker sites. Players will still be able to play. And new players will still come in. But these players will have to be motivated enough to go through all the loopholes required to get money in to the sites. IN other words, these players will be highly motivated to be good players. These won't be players that just want to have a good time messing around on the weekend. So the games will be much, much tougher at the lower levels. And will eventually trickle up to the higher levels. So if you are the very best, no worries. But if you are just extremely good it will affect you severly. And if you are just ok, and getting by because the games are good, you are BUSTO

[xJames2112]

This circus that has gone on all week makes me so embarressed to be a former registered Republican. Goldwater is rolling in is grave right now.

[G-Diddy20]

The main event will be very interesting next year. Over under the number of entrants will be over 1,500?

[mpslg]

[ QUOTE ]
[ QUOTE ]
I don't understand why everyone is viewing this as the end of online poker or their "job".. They are trying to block banks + credit card companies from making transfers to online gambling sites. This still leaves Neteller/Firepay/Moneybookers which are used for many other things other than online poker and there will probably be many other options opening up. There are just too many alternative ways to move money for them to stop us from playing online.

[/ QUOTE ]

Also realize most fish probably arent currently using CC's anyways, they originally had to get a Neteller/Firepay account anyways, if they have to find a new method they'll probably find it.

Not saying this doesnt suck, but its possible not much could really change, we just dont know yet. It'll really depend on how cooperative other payment instruments are to US law, AFAIK a bank cannot block a transaction to something like firepay on the suspicion that you might be using it to gamble, so it would really rest on the payment instruments vigilance on enforcement.

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When I first started playing, I tried to sign up with credit cards. I got calls from the credit card companies almost immediately telling me I couldn't do that. I managed to figure out neteller pretty quickly.

What worries me the most is that neteller will be banned as well. I don't think the christian right will be that happy if it's still easy to gamble online.

[Dynasty]

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With this bill, all casual (read sucky players) won't play because it will be too hard to get money into poker sites.

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You are wrong.

If you spent more time around losing degenerate gamblers in real life, you would understand that they would jump through a hundred hoops of fire in order to get their action fix.

However, I don't actually reccomend spending time with losing degenerate gamblers. They're not much fun most of the time.