Latest (10-19) Statement From Neteller

[Pace Cap'n]

Internet payment processor Neteller says it will comply with new U.S. legislation aimed at prohibiting online gambling.

"Various provisions of the Act, including the obligations of financial transaction providers such as NETELLER, remain unclear. This uncertainty should be largely resolved when the Secretary of the Treasury and the Board of Governors of the Federal Reserve System issue the regulations they are required to prescribe within 270 days."

"NETELLER, a company registered outside the US, will comply with the Act and its related regulations as if it were subject to the Act's jurisdiction," said the company in an official statement today. "This action is intended to ensure that the Company is able to continue to operate with the support of its principal commercial partners and to protect its shareholders, business partners, employees and reputation."

Link (http://www.casinocitytimes.com/news/article.cfm?contentID=161947)

[Tom]

SUBJECT: New FirePay policy for US account holders

On September 30, 2006, the United States Congress passed the Unlawful Internet Gambling Enforcement Act of 2006.

Once President Bush approves the Act. FirePay (www.firepay.com (http://www.firepay.com/)) will no longer allow US consumer payments for online gambling merchants.


Beginning the day President Bush signs the Act, FirePay will decline any purchase transactions from US FirePay account holders at any gambling merchant site.
Ten days after President Bush signs the Act, FirePay will decline any transfer attempt made by any online gambling merchant to a US FirePay account.

[highnote]

I closed my Neteller account. It amazes me how these foreign companies cowtow to some poorly written, unenforceable bill.

I have just about quit betting horses altogether. I can bet on foreign currency prices, but not on a horse race.

That march on Washington is looking better and better.

[JustRalph]

That march on Washington is looking better and better.

too little too late.

[highnote]

too little too late.

Probably. One thing about gamblers -- especially horseplayers -- they've never been known for the ability to act as one.

[robert99]

I closed my Neteller account. It amazes me how these foreign companies cowtow to some poorly written, unenforceable bill.

I have just about quit betting horses altogether. I can bet on foreign currency prices, but not on a horse race.

That march on Washington is looking better and better.

S,

These companies now want to get firm approval to extend operations in other EU markets. Complying with USA law, they believe, helps their image.
They don't want their Directors arrested every time they set foot in USA.
UK will extradite to USA anyone that USA asks for.
It is illegal for UK companies to deal with any gambling actions that are illegal in other countries.
Stock Exchanges do not like dealing with any international companies that "might" be illegal somewhere, sometime.

[highnote]

S,

These companies now want to get firm approval to extend operations in other EU markets. Complying with USA law, they believe, helps their image.
They don't want their Directors arrested every time they set foot in USA.
UK will extradite to USA anyone that USA asks for.
It is illegal for UK companies to deal with any gambling actions that are illegal in other countries.
Stock Exchanges do not like dealing with any international companies that "might" be illegal somewhere, sometime.

Robert,
Thanks for the insight. Neteller's actions make sense.

I don't know if it is still the case in the U.S., but it used to be illegal for Connecticut residents to buy cable TV descramblers. However, these descramblers could be sold by a Connecticut based business to out-of-state buyers. It's not exactly the same thing, but kind of the same logic as the law in the UK.

Maybe someday this will all be sorted out. Until then, I just won't bet horses online. I certainly won't go to the track to bet. Guess I'll just have to keep gambling (I mean trading. I mean investing) on foreign currencies ONLINE on the FOREX.

[twindouble]

Robert,
Thanks for the insight. Neteller's actions make sense.

I don't know if it is still the case in the U.S., but it used to be illegal for Connecticut residents to buy cable TV descramblers. However, these descramblers could be sold by a Connecticut based business to out-of-state buyers. It's not exactly the same thing, but kind of the same logic as the law in the UK.

Maybe someday this will all be sorted out. Until then, I just won't bet horses online. I certainly won't go to the track to bet. Guess I'll just have to keep gambling (I mean trading. I mean investing) on foreign currencies ONLINE on the FOREX.

I think this will be on topic. Woman have the right to choose if a baby lives or dies but with this new legislation as adults we can't choose if we want to gamble online or not. Now what's wrong with this picture? :bang:

They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety. -- Ben Franklin

Couldn't help taking in the above saying, yes it was by well respected founding father but I never take these cliches seriously. Old Ben failed to include, when your enemy attacks your liberty and safety isn't just temporarly given up, you could lose it intirely. Those that force their moral beliefs on us when it comes to gambling are doing just that.

If they continue with this crap, the bookies will be back in business again. Don't you think? :jump:


T.D.

[highnote]

If they continue with this crap, the bookies will be back in business again. Don't you think? :jump:

T.D.

TD,
I'm sure there are a lot of happy neighborhood bookies, happily doing business with people who can't bet online. I also might add that they are probably happily NOT paying taxes on their increased income.

Prohibition had some unintended consequences. I'm sure online gambling Prohibition will also. Another shortsighted bill by politicians pandering to their constituents.

I actually disagree with JustRalph. He says immigration is more of a priority. I think this is a restriction on one of my fundamental liberties. Anytime my liberties are threatened it is a priority. And that is why this bill needs to be eliminated, repealed, or whatever it is they do with stupid bills.

[Valuist]

I really question how much of an effect this will have. The very casual bettors will probably stop, but I don't see the hardcore players closing up shop.

[Indulto]

I think this will be on topic. Woman have the right to choose if a baby lives or dies but with this new legislation as adults we can't choose if we want to gamble online or not. Now what's wrong with this picture?

They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety. -- Ben Franklin

Couldn't help taking in the above saying, yes it was by well respected founding father but I never take these cliches seriously. Old Ben failed to include, when your enemy attacks your liberty and safety isn't just temporarly given up, you could lose it intirely. Those that force their moral beliefs on us when it comes to gambling are doing just that.

If they continue with this crap, the bookies will be back in business again. Don't you think?

T.D.TD,
What’s wrong with the picture is that you don’t see that interference in our PERSONAL lives based on moral beliefs for ANY reason is ALWAYS a questionable practice. ;) Isn’t it ironic that many of the same people who oppose abortion also don’t want us to gamble; on-line or off.


I wonder if the DRF letter writer below who believes the bill is aimed at youth distracted from their studies/work by internet poker, would be upset if turned out that the birth rate increased among undistracted poker players. :D
Letters to the EditorBY DRF READERS 10/20/2006
http://drf.com/drfNewsArticle.do?NID=79813&subs=0&arc=1 (http://drf.com/drfNewsArticle.do?NID=79813&subs=0&arc=1)


Speaking of priorities, I can’t wait to hear the spin from Senate Democrats who voted for the bill. I’m sure they’ll tell us that they couldn’t be a party to any further delay on port security. :bang:

[Pace Cap'n]

That march on Washington is looking better and better.

THIS march?

Protest for Freedom Scheduled for Nov. 3-4 in Washington D.C.



A protest has been scheduled for November 3-4 in Washington D.C. This will be a peaceful, yet demonstrative protest given by frustrated American citizens who would like to let our future leaders know that we want our freedom back in America.



This protest is not only about internet gambling, online poker, or government wire tapping. This is about the United States government taking away personal freedoms that were guaranteed to us in the Constitution.



This protest is about Americans who demand that we get our personal freedoms back.



They have taken away our ability to use our own finances in whatever way we please. They are taking away are freedoms one by one and this has to stop!



In this protest there will be questions raised that Americans want answered, such as, where do our legislators draw the line between a free society and complete government control over our individual lives?



For those not in the know, know this, while millions of Americans safely played poker online one Friday night, Senator Bill Frist attached anti-internet gambling legislation to a completely unrelated Port Security Bill that only few members of Congress knew about. The bill passed because no one could vote against a Port Security measure, yet many members of both the House and Senate were baffled as to how such a hugely unrelated measure could also be attached.



Senator Frist came out to Southern Baptists a few days later in a letter explaining how he achieved his goal of appeasing his conservative backers. Frist said that he is anti-gambling because gambling contributes to the destruction of American families, yet he has accepted large sums of campaign contributions from Harrah's Entertainment.



There is corruption in the United States government and Americans want it stopped, now!



We are requesting that offshore casinos send mass emails to their player base explaining that there will be a large scale protest on November 3-4 in Washington D.C.



We are requesting that the mass media of the United States pay some attention to the freedoms that this government has taken away from us.



We are requesting that all Americans who want to live in the free country that they once so loved, come and fight to get it back. Three days before elections would be a perfect time to be heard.



This is short notice, but we are requesting all speakers, organizers, and other interested parties to promote us in our fight to get America back.



For more information contact protest organizer D. Richardson by email at drichardson@bizec.rr.com.

[Tom]

You know what would be a nice touch?
Print out decks of cards with pictures of everyone who voted to limited our personal freedoms with this stupid bill, like they did in Iraq. Deal out hands at polling places.

I plan to vote against anyone who voted for this bill, and have been telling them so.

[PlanB]

F.....N Brilliant Tom. Deck of Jailors? I'm sure there's a better name.

[the_fat_man]

yeah, yeah, yeah

tough to have a REBATE DEPENDANCY

the game changes periodically, and what was an EDGE during one era

ceases to be one in another

I think the only way to HIT BACK at the law makers is the good old AMERICAN way --- hit 'em where it hurts: in the pocketbook.

If you can make living, a good living, at the game WITHOUT rebates (the pool have SUDDENLY SHRUNK)

get you butt over to the local track and bet with anonymity

the positive: you'll get to check the horses out IN PERSON and your win percentage with GO UP

the negative: you'll actually have to get out of the house for a few hours and experience racing ---yeah, racing isn't JUST ABOUT NUMBERS.

15-20+% is more than enough to pay the government for the privilege of betting the races

otherwise, RELOCATE: down under, Hong Kong, Canada, UK, etc.

to expect rationality in present day America is to not be very rational

[PlanB]

Fat man I like you. You take the PA heat off of Me. Ty, d2U

[PaceAdvantage]

Fat man I like you. You take the PA heat off of Me. Ty, d2U

Get a grip. How many times have you been kicked off, only to come back under another name? You're lucky I'm a nice guy, and not some hard-ass jackboot thug.

[Tom]

Aw, Derek is my little buddy, Skipper and Gilligan.

And who is talking about rebates?
I have never gotten a rebate.
I got a free Coke one day at the track - that is it.

[classhandicapper]

I can't see Neteller closing shop in the US when theoretically I could be funding a legal horseracing site or using it for other payment purposes. If Neteller does anything, they will create a list of sites they will not fund and most of those will be poker.

[Pace Cap'n]

What they HAVE done is given their clients the option to decline deposits from U.S. sources.

[classhandicapper]

What they HAVE done is given their clients the option to decline deposits from U.S. sources.

If they take it a step further in 270 days, Neteller will be the one with the list of who "they" won't do business with and it will be mostly poker sites.

I am doing still business with some poker sites via Neteller and I'm not overly worried about horseracing sites unless they also take sports betting. Then there could be an issue (Pinnacle could be a problem eventually).