Saturday, April 16, 2011
BOOM - Hammer Drops
So the DOJ finally decided to drop the hammer on the big boys. So what does it all mean? We'll get into that in a minute, but first things first.
What changed then? A clue can be gleaned from the indictments. Specifically the charges around bank tampering. If poker is determined to be illegal gambling then the UIGEA doesn't apply and all of those charges are moot. However, if online poker sites actually bribed banks or knowingly hid transactions types, then game on for the DOJ.
A big FUCK YOU goes out to Jennifear and the rest of the extremely naive people who were glad when federal legislation failed a few months back. How's your status quo now? lol
And Scott Tom got indicted, gotta love Karma!
Alright, with that out of the way let's discuss impacts...
The DOJ could have done this for years and there was a reason they didn't. Because there is a very good chance they'll lose the poker is gambling argument or the jurisdiction argument. Unlike sports betting, the gambling regulations don't generally fit well as applied to online poker. Now, Full Tilt and Stars could have pushed this argument before, but they didn't for the same reason. There's a good chance they'll lose the gambling or jurisdictions arguments and then it would have been obvious game over. Both sides decided to wait.
What changed then? A clue can be gleaned from the indictments. Specifically the charges around bank tampering. If poker is determined to be illegal gambling then the UIGEA doesn't apply and all of those charges are moot. However, if online poker sites actually bribed banks or knowingly hid transactions types, then game on for the DOJ.
Either way this will likely take years, but we might finally get some rulings on the federal legality of online poker.
What about my money? Well, if Neteller is any indication then you'll get it back, eventually. Of course Neteller cooperated and it seems unlikely that Full Tilt and Stars will.
When can I play again on Full Tilt and Stars? Probably never, if you live in the US. Even when legislation does happen, it seems unlikely they will be in the picture. This all changes if they happen to be found innocent of course.
What about my comps? Now this is a good question and one that is of particular interest to me. Hopefully Tilt Stars will allow us to convert these into cash or items. What about Iron Man on Full Tilt? Seems like they should put all US players status into limbo for now.
What about the other sites, like Cake? Well, UB and Absolute are still letting US players play. Will Cake and Merge continue to as well. They certainly have something to gain by doing so, but who knows.
It's a lot of wait and see for now...
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