Paradise poker shakedown?
I hate to just repeat stuff I read on RGP, but I'm going to repeat stuff I read on RGP. For a long time, people have been saying that online gambling sites are going to be shut down, and that any money you leave at a site will be seized.
I thought it was bullshit then, and I think it's bullshit now.
However, this is from an article in the NY Times today:
New York Times
May 31, 2004
By Matt Richtel
Federal law enforcement officials routinely seize money they suspect is
connected to activities like money laundering, terrorism or drug smuggling.
But in early April, United States marshals seized $3.2 million from
Discovery Communications, the television and media company, in an aggressive
effort to crack down on a new target, Internet gambling.
The money initially belonged to Tropical Paradise, a Costa Rica-based
Internet casino operation, which in October paid Discovery for television
spots to advertise an online poker room, ParadisePoker.com. According to
court documents, the government seized the money and told Discovery, which
is based in Silver Spring, Md., that it could be party to an illegal
activity by broadcasting such advertisements.
Federal prosecutors contend that online gambling sites are illegal, but the
offshore casinos fall outside their jurisdiction. So for nearly a year, the
government has been trying to curb the sites' activities by investigating
and pressuring American companies that provide services to offshore gambling
sites on the theory that they are "aiding and abetting" the operations.
So, this has given birth to another panicked situation in the online poker community. Some are considering pulling all of their money out of their online poker accounts. I for one plan to do no such thing. I am going to cash out the bulk of my Stars money tonight, but I was planning to do that anyways. Is anyone taking this stuff seriously, and if so, why? If there is *any* reason for people to worry about their online poker accounts (which I doubt) would Canadians be subject to these same American laws that declare "that online gambling sites are illegal"?
As an aside, if any of you have US dollars in a bank account--say, from online poker winnings--and you plan to change them to Canadian dollars when the exchange is good to do so, I've been told that the US Federal Election in November will be the best time to do it. Maybe this is common knowledge, but I guess every time there's an American election, Canadians sell off their US dollars and make a nice profit doing so.
Regards,
all_aces
I thought it was bullshit then, and I think it's bullshit now.
However, this is from an article in the NY Times today:
New York Times
May 31, 2004
By Matt Richtel
Federal law enforcement officials routinely seize money they suspect is
connected to activities like money laundering, terrorism or drug smuggling.
But in early April, United States marshals seized $3.2 million from
Discovery Communications, the television and media company, in an aggressive
effort to crack down on a new target, Internet gambling.
The money initially belonged to Tropical Paradise, a Costa Rica-based
Internet casino operation, which in October paid Discovery for television
spots to advertise an online poker room, ParadisePoker.com. According to
court documents, the government seized the money and told Discovery, which
is based in Silver Spring, Md., that it could be party to an illegal
activity by broadcasting such advertisements.
Federal prosecutors contend that online gambling sites are illegal, but the
offshore casinos fall outside their jurisdiction. So for nearly a year, the
government has been trying to curb the sites' activities by investigating
and pressuring American companies that provide services to offshore gambling
sites on the theory that they are "aiding and abetting" the operations.
So, this has given birth to another panicked situation in the online poker community. Some are considering pulling all of their money out of their online poker accounts. I for one plan to do no such thing. I am going to cash out the bulk of my Stars money tonight, but I was planning to do that anyways. Is anyone taking this stuff seriously, and if so, why? If there is *any* reason for people to worry about their online poker accounts (which I doubt) would Canadians be subject to these same American laws that declare "that online gambling sites are illegal"?
As an aside, if any of you have US dollars in a bank account--say, from online poker winnings--and you plan to change them to Canadian dollars when the exchange is good to do so, I've been told that the US Federal Election in November will be the best time to do it. Maybe this is common knowledge, but I guess every time there's an American election, Canadians sell off their US dollars and make a nice profit doing so.
Regards,
all_aces
Comments
the rates are still are low
1.33 at the moment better than 6+ months ago when it was at 1.265 :evil:
i would hold off even longer i guess :shock:
i want 1.43 to 1.53
yeah man, if i had your Stars bankroll, i would definately cash out
no monkeys about it :shock:
just in case it is ALL ACES :shock: