nevadanick
Back to work ... zzzzz
Silver Level
Are you aware that Prohibition in the US was law from 1920 - 1933 ???
*** 14 years ***
********************************
wolfie
Legend
Silver Level
_dogmeat
Rock Star
Silver Level
And I was wondering why the forums are so quiet yesterday. How do I get wind of this just now. ****! Damn greedy fat-assed incesting political scum. Pretty sure most of the big casinos in US have a big part in this.
****ing corrupt world!
P.S. Also, something I didn't always understand, wasn't online poker already illegal in the US? Or were FT and PS just kinda ignoring that and letting you guys play anyway?
****ing corrupt world!
P.S. Also, something I didn't always understand, wasn't online poker already illegal in the US? Or were FT and PS just kinda ignoring that and letting you guys play anyway?
coolnout
Legend
Silver Level
Wow.
**** this shit!!!
Damn..
Is this the end of Stars & fulltilt?
for americans definitely. it's pretty much wait and see what happens in the upcoming days. it has been stated that stars and ftp could shutdown even where they are legal.
definitely a horrible day.
nevadanick
Back to work ... zzzzz
Silver Level
Anyone want to start a pool on how long it will take for the
likes of Harrah's, MGM Properties, etc, to get legalized
internet gambling ??
Now that a likely to be formed 'license issuing agency'
will be able to tell Stars, FT and others that they have pending
legal indictments/situations and cannot be granted a gaming
license in the US. (sure removes any serious competition)
Have to admit though, Stars etc were flaunting US gaming
all over the place with network TV shows like Daniel's/Stars
Million Dollar Challenge, High Stakes Poker, etc. Like standing
in the lions den holding the raw meat. Somebody was going
to get bit.
****************************
likes of Harrah's, MGM Properties, etc, to get legalized
internet gambling ??
Now that a likely to be formed 'license issuing agency'
will be able to tell Stars, FT and others that they have pending
legal indictments/situations and cannot be granted a gaming
license in the US. (sure removes any serious competition)
Have to admit though, Stars etc were flaunting US gaming
all over the place with network TV shows like Daniel's/Stars
Million Dollar Challenge, High Stakes Poker, etc. Like standing
in the lions den holding the raw meat. Somebody was going
to get bit.
****************************
Dorkus Malorkus
HELLO INTERNET
Silver Level
OzExorcist
Broomcorn's uncle
Bronze Level
LOL - I can see it now:
"Lesson one: forget everything you know about bet sizing. A standard open raise in a live 1-2 game is anywhere between $10 and $20..."
In other news when I try to log into Full Tilt it tells me there's a new update to install. After clicking OK it tells me the update can't be accessed and to try again later. Likely just a traffic issue?
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jbbb
Legend
Silver Level
lol same. Played a $5 overlayed tourny. 400 runners and I was 3rd / 12th. Managed to bust out in 12th. ****kkk. 1st was like $600. Oh well (atleast we can still play).
haha lol'd
No Brainer
Losing keeps me sane
Silver Level
I think you may need to download the software again but from www.fulltiltpoker.co.uk
The download is very slow but it seems to work once it is done...
The download is very slow but it seems to work once it is done...
Vfranks
Legend
Silver Level
Zorba
27
Platinum Level
I dont know if this is new info but there are way to many pages to go through just to find out.
I just opened poker stars and had to do an update then the following message poped up.
BTW Im in Australia.
I have been trying to do that update also and it still wont go through.
I just opened poker stars and had to do an update then the following message poped up.
BTW Im in Australia.
[B said:
I have been trying to do that update also and it still wont go through.
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B
Brave_n_Crazy
Enthusiast
Silver Level
Well, since I just got certified as a lawyer's assistant, which involves doing legal research, I guess now instead of avoiding working on my resume by playing poker I will waste my time putting together a lengthy brief to send to my state representatives asking they include online poker as one of the legalized gambling activities in my state (Florida).
Interesting thing I found out is that I can legally bet on the dogs or horses online in Florida because I can drive ten minutes to our local greyhound track and do so in person. Since there is a "high-stakes" poker room attached to said greyhound track, it follows that I should be allowed to also play poker online legally.
I wonder if including this brief in my resume would land me a job???
Interesting thing I found out is that I can legally bet on the dogs or horses online in Florida because I can drive ten minutes to our local greyhound track and do so in person. Since there is a "high-stakes" poker room attached to said greyhound track, it follows that I should be allowed to also play poker online legally.
I wonder if including this brief in my resume would land me a job???
J
JMcCabe
Rock Star
Silver Level
888 and Harrahs signed an agreement not too long ago.
Apparently the pokerstars/Wynn agreement that was signed a couple of weeks ago is now dead.
Apparently the pokerstars/Wynn agreement that was signed a couple of weeks ago is now dead.
Dorkus Malorkus
HELLO INTERNET
Silver Level
Just a quickie regarding likelihood of recovering funds.
Stars is registered in the Isle of Man, and as such Isle of Man-ish laws apply. Same with FT and (IIRC) the Channel Islands (Guernsey).
The Isle of Man and Guernsey essentially operate under UK Insolvency Law, with some exceptions that are unimportant to this case. I'm an insolvency practitioner, so I know all about this fun stuff!
Stars and FT keep your money in trust accounts.
What does this mean? Well, let's assume the worst case happens and all the funky crap that's happened in the last 24 hours causes Stars and FT to go under. If the trust accounts didn't exist you'd just be an unsecured creditor of the insolvent company and would be looking at what would most likely be a pitiful return on what you're owed (like 5p/£ if you're lucky maybe).
But because your funds are held in trust accounts, those funds are separate from all the funds which are used for distribution to unsecured creditors, which essentially means you're going to get a 100% return on your money, or in other words you'll be able to cash it out.
Am I saying your money is completely safe? Well no, there's always a chance the trust account thing is BS (unlikely and illegal), that in desperation the sites could dip into these funds to try and keep afloat (unlikely and illegal), or that the powers that be will take whatever money they can get their grubby mitts on and run (unlikely and illegal). The unlikely/illegal options seem especially unlikely given that the DoJ is going to be watching them like hawks and they will likely not want to get in any more brown stuff than they're already in.
...but what if you have money on AP/UB? lmao who knows, I'm not gonna say you deserve whatever happens but you really should have known better.
Stars is registered in the Isle of Man, and as such Isle of Man-ish laws apply. Same with FT and (IIRC) the Channel Islands (Guernsey).
PokerStars About Page said:
The Isle of Man and Guernsey essentially operate under UK Insolvency Law, with some exceptions that are unimportant to this case. I'm an insolvency practitioner, so I know all about this fun stuff!
Stars and FT keep your money in trust accounts.
PokerStars ToS said:
What does this mean? Well, let's assume the worst case happens and all the funky crap that's happened in the last 24 hours causes Stars and FT to go under. If the trust accounts didn't exist you'd just be an unsecured creditor of the insolvent company and would be looking at what would most likely be a pitiful return on what you're owed (like 5p/£ if you're lucky maybe).
But because your funds are held in trust accounts, those funds are separate from all the funds which are used for distribution to unsecured creditors, which essentially means you're going to get a 100% return on your money, or in other words you'll be able to cash it out.
Am I saying your money is completely safe? Well no, there's always a chance the trust account thing is BS (unlikely and illegal), that in desperation the sites could dip into these funds to try and keep afloat (unlikely and illegal), or that the powers that be will take whatever money they can get their grubby mitts on and run (unlikely and illegal). The unlikely/illegal options seem especially unlikely given that the DoJ is going to be watching them like hawks and they will likely not want to get in any more brown stuff than they're already in.
...but what if you have money on AP/UB? lmao who knows, I'm not gonna say you deserve whatever happens but you really should have known better.
R
RamdeeBen
Legend
Silver Level
That all sounds good Dorkus - but I'm not sure if it still applies when a company is being charged with money laundering and fraud. Unless monies deposited instantly gets deposited to a trust fund (highly unlikely) then everyones monies has sure gone through the same procedure of going through one of the dodgy payment processors at some point and all funds and assets the U.S goverment have a right to put on hold as far as I know? I'd imagined funds are constantly being thrown from pillar to post all around the world to different payment processors of some kind and most likely everyones money as been through it.
As for the unlikely events - I agree with most of them, the illegal ones - well I guess any of the illegal activities are possible now considering what they have been charged with.
Nice post though regardless, it would be nice for the Americans if that is the case but I'm not so sure..
Pascal-lf
Legend
Silver Level
I spent a term learning about trusts (I study law in the UK) and while I can't remember much, just saying that it will be held in a trust should be enough for it to be held as a trust I imagine. In that case, the money is still yours - you just give Stars a limited amount of control over it.
Dorkus Malorkus
HELLO INTERNET
Silver Level
In the UK at least, any compensation due as part of a legal action against an insolvent company (whether it was insolvent before or after the action concluded), be it money laundering or whatever, just ranks as an unsecured creditor. Hence, legal actions against insolvent companies are often a waste of time because even if you win you get feck all unless the company has a lot of liquidatable assets.
I'm no legal expert but I'd have to imagine it would make more sense for the DoJ to go after the relevant individuals personally, in any case.