Paradise makes an official statement

[Nick]

US Gaming Legislation Information

Unfortunately, on Friday October 13th President Bush is expected to sign into law the Unlawful Internet Gambling Enforcement Act of 2006. The legislation is designed to restrict Americans from being able to fund their online poker accounts and in doing so to prevent Americans from participating in one of their national past times. Full details of the legislation can be found on pages 213-234 at the following link: http://www.rules.house.gov/109_2nd/...543_portscr.pdf

Paradise Poker, as part of the SportingBet PLC group of companies, is publicly traded on the London Stock Exchange and is obligated to act in accordance with the new legislation. After much deliberation, our Legal Team has advised that in order to comply with the new legislation Paradise Poker will be required to stop accepting deposits from all US players. In addition we will no longer be able to offer US players the ability to transfer funds to each other using the ‘Send Money To Player’ function or to transfer funds to Sportsbook.com.

Please be assured that all US customers will continue to be able to access their accounts and submit cashout requests as normal. Although we will no longer be able to accept additional deposits, players will continue to be able to play at our real money tables with the funds they already have on deposit at Paradise until November 13th 2006. The only players that will not be able to continue playing at our real money tables are players located in one of the following states, where some form of online gambling legislation already exists:

Utah
Hawaii
Michigan
Indiana
Oregon
Nevada
Washington
Illinois
Louisiana
South Dakota

Please note that all players will no longer have access to our casino products or sports betting products. Any Paradise Poker players that have open bets at Sportsbook.com will have the bets cancelled and the funds, along with any other funds held at Sportsbook, transferred back to Paradise Poker. The funds will be transferred back to Paradise Poker within 12 hours.

We very much regret the unfortunate environment in the United States that has prompted us to take these steps. Should there be any positive changes regarding the legal landscape, we will certainly inform players immediately.

For those interested, we recommend visiting http://www.pokerplayersalliance.org/ , a group that has been organized to represent the rights and interests of American poker players.

We thank you very much for your patronage over the years and remain hopeful that the day will come when the U.S. will join much of the rest of the world in recognizing the sense behind regulating, rather than the prohibiting online poker.

Blargh!

 

[ChuckTs]

Baaagh :/

What is it that makes one site comply with the bill and another site keep playing? I'm still not getting why some sites are bailing out and others are just 'business as usual'...

 

[mischman]

They are publicy traded like nick said.

 

[Freakakanus]

Baaagh :/

What is it that makes one site comply with the bill and another site keep playing? I'm still not getting why some sites are bailing out and others are just 'business as usual'...

Some have the balls to fight and some don't.

Paradise Sucks Ass anyways so no big whoop to me.......but who's next? That's what I wonder.

 

[DESSERTLADY]

Ah crap it
Paradise was my first....First place to play first to deposit, Oh well poopers.

 

[Nick]

The public companies have a legal responsibility to keep their share values up and protect their employees, even if it means sacrifising income. If they were deemed to potentially be breaking a law, not only would investors go crazy - but their staff could be arrested if they ever entered the USA.

 

[Lo-Dog]

I suppose I get the publicly traded thing but still seems crazy.

How many of the sites that are banning US players have casino games? A common thread amongst alot of the sites that are banning seems to be that they offer not just poker but casino games. Is this a major point?

 

[buckster436]

Well thats bad news,,, but i just got an email from Fulltilt saying there not stopping the US Players, and there also giving a 50% bonus, i just dont understand it, one site is backing out and the other is offering a bonus, whats up with that, do you know why Fulltilt is going ahead Nick????
buck

 

[nateofdeath]

this is so dumb. they're flat out saying that it's okay for US residents to play on their site, and are willing to let that continue (i also find it interesting that my state, wisconsin, was not on that list even though other sites, or at least Dream Poker, specifically dropped us) but not allow deposits, which the legislation specifically states the banks and credit card companies are responsible for. once again we see the US government forcing their will on their subjects, and others, through fear and strong arm tactics. i just don't get it. I also don't entirelly understand how dropping US players will keep their stock prices up when it'll cost them a significant percentage of their income, ultimatly damaging the value of their company. I take some solice in the fact that this will almost certainly lead to the setting up of several american based online casino owned by friends of the bush family and other high ranking republicans. uncle sam needs his cut after all, but it's still BS.

-n

 

[Nick]

How many of the sites that are banning US players have casino games? A common thread amongst alot of the sites that are banning seems to be that they offer not just poker but casino games. Is this a major point?

I think so, yes. Casino games are played vs the house which means that they are 'accepting wagers or bets' which is slightly different to poker.

i just dont understand it, one site is backing out and the other is offering a bonus, whats up with that, do you know why Fulltilt is going ahead Nick????
buck

Some say that they're making the most of the 270 days until the law comes into play, and trying to make as much money as possible in that time (I don't really agree with that). I think they just have had different (and IMO better) legal advice to others, as well as being a private company run offshore, so they have no reason to comply with US law as they aren't operating in that country.

I also don't entirelly understand how dropping US players will keep their stock prices up when it'll cost them a significant percentage of their income, ultimatly damaging the value of their company. I take some solice in the fact that this will almost certainly lead to the setting up of several american based online casino owned by friends of the bush family and other high ranking republicans. uncle sam needs his cut after all, but it's still BS.
-n

Well if they were to continue to trade and the investors and analysts deemed they were breaking the law.... then their shares would drop to zero in a flash.

 

[nateofdeath]

Well if they were to continue to trade and the investors and analysts deemed they were breaking the law.... then their shares would drop to zero in a flash.

does the proposed law say it is illegal for the poker sites to take american money? i was under the impression that is was attempting to regulate banks and such at this end, here in america, if for no other reason then because it would be easier to enforce then going after foreign companies. I really don't know what the proposed law says, to be honest, but you seem to be up on this, so perhaps you know. either way it seems to me that it is a matter for the law to decide rather then investors or analysts. So my point is that unless the law is directly effecting them, it is somewhat short sighted of them to be reacting this way, ultimatly costing them money and disgusting people like me for doing the american government's dirty work for them.

-n

 

[buckster436]

My state, Massachussetts wasnt on the list either,,, But i got a question,, we got the Mass. Lottery here,, is that considered on line gambling ?? after all you make a bet and it goes over the telephone or cable lines, ( i dont know what they use) im thinking that is some sort of online gambling,,buck

 

[t1riel]

Well, another poker site to uninstall from my computer.

 

[robwhufc]

this is so dumb. they're flat out saying that it's okay for US residents to play on their site, and are willing to let that continue

Only until November 13th (i.e. 1 month from today).

It's not Paradise Poker and the other site's fault - do you think they want to shelve 2/3rds or more of their clients? Look at page 3 and 4 of the bill (in the link in Paradise's statement). Internet Pker / Gambling has no relevance in the slightest to the rest of the bil in any way at all.

 

[buckster436]

just puttin this on the front page for Matt & Tammy wish they were staying

 

[Mooronic]

Paradise Poker Cash Out Summary -- 2006/10/14 @ 06:37:42 CST

Processing request from Player ID ' Mooronic ') for a cash out of US$31.88.

Checks issued must be for at least $50.00. $31.88 has been returned to your accountIf you have any further questions regarding this transaction,please contact us at cashier@ParadisePoker.com

Paradise Poker is pleased to present our million dollar freeroll!First place $1,000,000. Entry is Free. No strings attached.Check the website for details.

...........cunts.

 

[robwhufc]

Language,

but, kerching!!! - you've got a month to run it up to over $50 (would take me 10 minutes) unless you live in one of the 10 listed sites, in which case bye bye money.

 

[Freakakanus]

Paradise Poker Cash Out Summary -- 2006/10/14 @ 06:37:42 CST

Processing request from Player ID ' Mooronic ') for a cash out of US$31.88.

Checks issued must be for at least $50.00. $31.88 has been returned to your accountIf you have any further questions regarding this transaction,please contact us at cashier@ParadisePoker.com

Paradise Poker is pleased to present our million dollar freeroll!First place $1,000,000. Entry is Free. No strings attached.Check the website for details.

...........cunts.

Does this apply only to checks or neteller also?
I don't have money there but my god, what a way to steal peoples money......."sorry, you don't have enough money to cash out."
what a joke. Hope you get your cash and like I said before Paradise Sucks Monkey Balls!

 

[Mooronic]

Does this apply only to checks or Neteller also?
I don't have money there but my god, what a way to steal peoples money......."sorry, you don't have enough money to cash out."
what a joke. Hope you get your cash and like I said before Paradise Sucks Monkey Balls!

I use Firepay (since they're running from the legislation I also just signed up for neteller), but I think it applies to all forms of cashouts.

At first I thought I wouldn't be allowed to play with my remaining funds. Looks like I can, so I just have to get up above $50 and I'll be ok.

Unfortunately, unlike some people here, it takes me much longer than 10 minutes to get up above $50.