anti gambling law scenario

(Lets assume that what Im told is true and Neteller is indeed an OFFSHORE NON-US payment co)............ so

Doesn't it make sense that I'd be able to transfer funds into an OFFSHORE NON US payment co, then, have that OFFSHORE NON US payment co transfer funds into an OFFSHORE NON US poker room? So where does the US govt. come into play here? They have no jurisdiction over Neteller whatsoever, so how in the world can they monitor where the funds came from and where they're going? The transfer process I've just described has been processed entirely through OFFSHORE NON-US regulated COMPANIES! I transfer money into NON-US Neteller, I transfer money out into NON-US PokerStars, period! They're not involved in a any way, shape or form! Jeeeeeez I just don't get it!

Neteller's new terms holds that they will bow to all subpoenas from teh US gov't on any transcations asked for...so do so at your own risk....we are gamblers after all!

Getting money into Neteller (or other systems) is where the problem will occur. The act specifically targets U.S. banks, credit card companies, and Internet payment systems. Granted Neteller is offshore, the U.S. can still prohibit U.S. banks and credit card companies from allowing transfers to systems such as Neteller. From my understanding (I am no expert), each transaction has (or will have) a "code" attached to it that defines the purpose of the transaction. Therefore the banks will be able to determine if the transfer is going to a system such as Neteller.

The "code" system is already in place for most credit cards in relation to online casinos (you'll not that when trying to use your credit card to deposit directly to an online casino it will fail 99% of the time because it recognizes what the transaction is for). This system would be easy to use to block transactions to Neteller.

Just my opinions/understanding of the happenings thus far.

NDN

From what I can tell, transactions TO US banks from sites or "for most of us" Neteller is still allowed.

So keeping a decent balance at Neteller as a reserve and continually pulling profits at a safe rate... should be a solid technique to weather the storm. This will be a real test to see if people have "REAL" bankroll management, cause you could get to a point where you can't dip back into your pocket if you are not careful.

Then again, there are always freerolls. (YIKES)

This from Full Tilt, i think the largest non traded site going......


An Open Letter From Full Tilt Poker Regarding the State of Your Online Poker Experience
Posted by Full Tilt Poker

As many people are well aware, the United States Congress recently passed legislation that aims to make it illegal for U.S. banks to process transactions related to online gaming.

We, like all online poker players, are dismayed and saddened by these potential regulations, and are doing our best to determine what these changes will mean to our customers. We are continuing to study this legislation and, until our investigation is complete, believe it would be wrong to comment on how these new rules will impact the ability for players to transfer funds to and from Full Tilt Poker.

In the short term, we assure you that your online experience at Full Tilt Poker will not change. You will still be able to deposit and withdraw money from the site using the same methods and payment processors you have always used, and your money will remain completely safe and secure. We cannot predict how the online poker experience may change in the future, but we do not expect any immediate impact from the legislation, as the banking industry has 270 days to implement new rules after the bill is signed.

It is also important to note that, once signed, the new legislation will not criminalize individuals for playing poker online. Instead, the bill will eventually attempt to prevent the transfer of funds to online gaming. As poker is a game of skill rather than pure chance, we hope that it will not be affected by this new bill. Speculation aside, however, we will continue to work closely with organizations like the Poker Player's Alliance to lobby for an exemption for online poker and for your right to play a truly American game from the privacy of your own home and computer.

While this last-minute congressional move has undoubtedly caused concern among our players, we want to assure you that Full Tilt Poker is legally regulated and licensed to offer its services to anyone around the world and that your day-to-day experience at the site will remain unchanged in all respects.

Full Tilt Poker