Who will be Next???

[tennis_balls]

but poker is screwed once the bank regs go into effect. even gaming frieindly Britian has declaired poker a game of chance.

i don't want to sound like a spammer so I won't mention the website, but I was looking at a poker site today that offered a new type of poker "duplicate poker" which lessened the luck factor by using multiple tables with identically shuffled decks. it's an interesting concept although it seems like a hard sell to lawmakers who don't understand poker to begin with.

here's an

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on duplicate poker

it appears that i've finally scooped jetset and Ian_go with this one! (woohoo!)

 

[footdr]

HOLDING NETELLER FUNDS DEFIES BILL"INTENT"

The law was passed " to protect u.s. citizens", many people losing their money, and all the sad stories the legislature used as evidence that gambling on the internet was ruining lives and family lively hood. AND ON and ON and ON.

Well keeping U.S. Citizens from retrieving their money from Neteller accounts, which in theory could be money unrelated to gambling, is not doing much for those individuals financial situation.

It is in essence freezing U.S. citizen bank accounts, with no notice or legal authorization. IT CAN BE LIKENED TO THE TACTICS OF THE IRS.

Which brings me to a real scary issue. How many are claiming expenditure, losses, gains on their internet gaming transactions?

Their access to information regarding accounts could potentially be used against individual citizens by the IRS.

Given the fact that you can find very little information about the planned route of enforceing this law, it would not be unresponsible to believe the information they receive, if the subpoenas are complied with, will provide the IRS with information valuable to identify tax evasion.

NOW THAT IS REALLY SCARY. AND THAT LAW HAS NOTHING TO DO WITH INTERNET GAMBLING. IT IS AN FEDERAL LAW ENFORCED BY THE IRS THAT ALL GAMBLING PROCEEDS MUST BE REPORTED. Until now I would venture most felt safe that these funds would not be detected. With current affairs as they are, I would not BET on it.

I would think the first targets would be people that have won big!!! looking for transactions in the thousands, not hundreds.

Maybe its a good thing I still have not won that Million Dollar Progressive.

 

[lojo]

Interesting points footdr. I had never really planned on itemizing gambling wins or losses but I'm going to start keeping track of my expenses for B&M, at least, in case I need to offset a win. I'm not going to fret about the past for online, but I could look at doing amended returns for the last three years I guess. I've done nothing illegal except out of ignorance so I really think I'll let sleeping dogs lie.

 

[Mousey]

....

Which brings me to a real scary issue. How many are claiming expenditure, losses, gains on their internet gaming transactions?

Their access to information regarding accounts could potentially be used against individual citizens by the IRS.

....

Note to people who gamble in B&M casinos: You might want to get those win/loss statements from each and every casino, every year. Many casinos will let you fill out a form and request W/L statements on their websites. Some will send you a form to fill out, some will take your info over the phone and then mail you a W/L.

Why? Gambling is gambling and your losses at a B&M might help offset online wins (if you've been lucky).

At least I'm not the only one that's gone paranoid. Are we overly paranoid? Let's hope so.

 

[silcnlayc]

but I'm going to start keeping track of my expenses for B&M,

Actually, if you set up an account online with your casino card, you can access your wagering/loss account online, and get a printout of the years activity (this is for atlantic city casinos). I have an account at Borgatas, and all of Harrahs casinos and I can log in to check all my account activities at any time.

 

[s163999]

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Check it out

Several sources in D.C., New Jersey -- others within the IGC -- have not heard anything about the rumors. That's not to say there isn't some truth behind them. Strange days, indeed.

This was originally run in eGaming Review on Jan. 30:

DoJ denies imminent indictment rumours

Rumours suggesting further online gaming arrests planned for this week have been denied by the Department of Justice (DoJ) in New York and Washington DC this afternoon.

A spokesperson said: Nothing would be made public until an individual or company was charged.

According to sources in Washington DC who have spoken to eGaming Review, the US authorities are on the verge of unsealing another set of indictments against a high-profile US-facing betting and gaming operator.

A move against the rumoured target in Superbowl week would be bound to be grab the headlines. It would also follow on from the arrests earlier in January of the two founders of Neteller, Stephen Lawrence and John Lefebvre.

eGaming Review will report more as the story develops.

 

[mgibson99]

Did you notice this from the Washington Post article:

Neteller is besieged with requests from frustrated bettors who want to recoup billions in deposits and winnings

Where did the Post get this figure? Neteller's most recent press release says only $55 million is tied up. That is a HUGE discrepancy.