IBetX bars U.S. Players

[BMeadow]

Due to recent events in the United States of America, iBetX has been advised to withdraw all operations regarding USA customers with immediate effect for an indefinite period of time.

New US members will no longer be accepted and current member accounts with a US home address will be closed over the next few weeks.

Received this this morning from Ibetx.com, the betting exchange. Thank you, U.S. government!

"As your account is registered with a US home address, you will need to cancel all unmatched bets and withdraw all funds as all affected accounts will be suspended on August 31st, 2006 at 11:59pm GMT.

Any remaining matched or unmatched bets will be void or cancelled and cheques (or wire transfer upon request) will be issued within 10 business days for all outstanding amounts.

We will inform you of any changes to the prevailing conditions and we sincerely apologize for any inconvenience this may cause you and we wish to thank you for your custom.

Please do not hesitate to contact us on ushelpdesk@ibetx.com if you have any queries or comments."

[highnote]

Thanks for the heads up. I just requested my funds be withdrawn. Although, I haven't bet with them since the Great State of Connecticut barred residents from placing bets online.

Luckily, I am legally still allowed to bet online on what the future price of a bushel of corn will be.

[highnote]

So I requested my funds and IBETX tells me that I have to send them proof of address and a photo ID -- driver's license or passport.

This really bothers me because if they were willing to accept my money based on the info I supplied to them then why are they not willing to send me my money based on that same info.

A good example of why no one wants to do business with illegal offshores. These companies should be falling over themselves trying to take care of their customers. They should make it extremely easy to do business with them. But what do they do -- they put up road blocks.

Returning to Barry's original gripe of blaming the U.S. gov't. I don't blame only the U.S. gov. I blame the racing industry for not be more progressive on setting up betting exchanges. And I blame fundamentalist religious zealots.

If the racing industry would set up a betting exchange lobbying effort we and they might not have this problem. If England embraces it, why shouldn't we. Are they more responsible then us?

Again, I recommend everyone to read "Net Worth" -- the story of the history of the National Hockey League. It gives a good example of what not to do.

Plus, I can't believe Betfair, IBetX and others are bowing down to U.S. pressure. They need to get a backbone. Then again, maybe they are being pressured by their own govs.

Problem is, racing is becoming a global industry and the U.S. is being protectionist. We should be growing the industry not keeping it provincial.

Plus, I am very tired of fundamentalists of any persuasion trying to dictate what I can and can't do. To me, gambling is recreation and not immoral. In fact, the study of and participation in gambling activities leads to greater understanding of many problems we face every day.

I happen to think that the beliefs of some fundamentalists are immoral. So go find another country to practice religion. Oh wait, they did. It's called the United States of America -- freedom of worship. So leave me alone to my own freedoms.

The U.S. gov is so hypocritical. It's OK to gamble in the futures markets, but goddamit, don't bet $2 on a horse over the internet.

Every politician who thinks gambling is immoral can go stick a croupier's rake up his or her arse.

[thebeacondeacon]

With election day, two months away, all interested bettors should be polling their local candidates, of both parties, to find out their position on this issue, and voting accordingly.

In the meantime, Google the word "FAILURE", to find out the spirit of the current federal administration.

Sorry, PA, but I had to get just a wee bit political over this.


thebeacondeacon

[Blackgold]

If the U.S. Gov gets involved, the take will go up.

Just finished reading Barry Greenstein's awesome book, "Ace On The River."

In one chapter he talks about how the mobs numbers rackets actually pay better odds than the gov. sponsored daily drawings.

The Internet will always offer us a way around anything stupid. You can vote quicker and with more influence there, than you can anywhere else.

Look, you are talking about a Gov. that can't deliver food and water to hurricane victims. . . so how are they going to stop me doing something over the net in Costa Rica. . . how are they going to shut down neteller. . .

[highnote]

Look, you are talking about a Gov. that can't deliver food and water to hurricane victims. . . so how are they going to stop me doing something over the net in Costa Rica. . . how are they going to shut down neteller. . .

Good points. Lots of noise, not much action. Guess these bureaucrats have to justify their existence by making it look like they are actually doing something.

I think that Canada and U.K. might not tax gambling winnings. If we did the same here then this would not be a problem.

The whole thing is hypocritical -- it's OK to bet horses online (except in some states), but it's not OK to play poker online.

The situation is absurd and the politicians look like idiots when they make these arguments against gambling.

[bullring]

I've never even heard of this book. Sounds mickeymouseish, why send them money to begin with???

[highnote]

why send them money to begin with???

I assume you mean why send money to the offshores.

I can give you lots of reasons -- assuming you find a good legitimate offshore company.

PartyPoker seems legit to me. When I was playing poker online I never had any trouble getting my money in and out from any poker site. I tried about 4 or 5. They all had good customer service.

For a horseplayer, there are few things better than fixed odds betting with less than 5% commission.

Other benefits...

Batch wagering.

Anonymous.

Tax benefits -- ( I discourage cheating on taxes. ) Some countries don't tax gambling income.

I could go on.

[the_fat_man]

Alot to be said for doing it the old fashioned way.

Actually going out to the racetrack. Betting with almost complete anonymity.

Not reporting taxes.

Of course, you'd have to be good enough to show a profit.

Which pretty much eliminates everybody.

Back to your regularly scheduled program about REBATES.