Pokerstars allowing U.S. based company to transfer money to them

Uglyowl · #1 02-08-2007, 07:11 PM

Pokerstars announced today that you can send money through moneygram to them.

Moneygram is a $2.5B company traded on the NYSE based in Minneapolis. Money is deposited at agents (like convenience stores) and then can be deposited to Pokerstars.

I am sure the lawyers for both Stars and Moneygram have looked into this extensively. Thoughts?

http://www.pokerstars.com/poker/real-money/moneygram/

http://finance.yahoo.com/q/pr?s=MGI

MoneyGram is an international money transfer service. There are approximately 100,000 MoneyGram agent locations worldwide. MoneyGram ExpressPayment is a service offered by MoneyGram that allows you to send cash from any MoneyGram agent location directly to your PokerStars account.

SmackinYaUp · #2 02-08-2007, 07:18 PM

Good to see they are looking into things but looks somewhat complicated and expensive for average joes.

Uglyowl · #3 02-08-2007, 07:36 PM

Maybe a little tricky (not too much), but more importantly lawyers for Moneygram (a $2.5Billion U.S. company) must have come to the conclusion that poker is legal. Right?

kyleb · #4 02-08-2007, 07:38 PM

Pokerstars should credit people with the transfer fee directly to their account. They make enough off the rake.

Darque Nuts · #5 02-08-2007, 07:44 PM

The minimum purchase is $50. Moneygram charges a flat $9.95 per transfer and it is a deposit method only. Hmmmm, is a high cost for the small Fishees.

yeahright · #6 02-08-2007, 07:45 PM

[ QUOTE ]
Maybe a little tricky (not too much), but more importantly lawyers for Moneygram (a $2.5Billion U.S. company) must have come to the conclusion that poker is legal. Right?

[/ QUOTE ]

Well, I know for a fact FTP's attorneys feel like FTP is not breaking any laws.

I guess that could be considered the conclusion, although there are a lot of people in DC that will tell you the whole debate over whether to include "games subject to chance" or "games subjected predominantly to chance" in the bill.

We all know now that "games subject to chance" was included, and many have said that was definitely intended to kill the argument that poker is not "predominantly" subject to chance.

Subject to chance just covers pretty much everything.

blutarski · #7 02-09-2007, 12:21 AM

I don't understand how epassporte, moneygram, etc. think that serving poker sites is a winner long term. They're very publically flaunting the DOJ's (and most others') interpretation of the law. They must know that the DOJ knows their logos are on FT's and other sites' deposit page.

Are they trying to get in and get out with a profit and playing chicken with the DOJ? Do they honestly think they're not going to get [censored] by the feds?

After neteller, I'd stay far away from poker/gambling sites if I ran epassporte.

Uglyowl · #8 02-09-2007, 12:45 AM

These companies aren't completely stupid and spent alot of money I am sure on legal representation before jumping in feet first.

These guys are a multi-billion dollar U.S. company, traded on the New York Stock Exchange.

fleece_me · #9 02-09-2007, 02:03 AM

3128 posts, have you learned a thing? Maybe Moneygram doesn't know their service is being used for these purposes?

ZBTHorton · #10 02-09-2007, 02:32 AM

[ QUOTE ]
3128 posts, have you learned a thing? Maybe Moneygram doesn't know their service is being used for these purposes?

[/ QUOTE ]

Are you serious? Someone enters into a multi million dollar deal without even going to the website of the company they're dealing with? lol.