UIEGA Pressure

[Ragnar4]

Quick question guys.

That UIEGA Article that was on the front page yesterday kinda has me thinking.

I'm about 5 good sessions from being rolled for 10nl at my current bb/hr and the grind I've got going on. Which probably means more like 8-10 with as swingy as I've been latley.

But I'm kinda torn, that article has me thinking I should take all but 30 bucks and pocket it, and start back over at 2nl so that I wouldn't care if for some reason I was unable to cash in the near future due to the UIEGA midnight pushthrough.

What do you guys think?

I realize I'm only considering a microstakes decision, but it's the principle, and not the amount of money I'm worried about. 150 bucks won't change my life, but I don't want to lose it either.

[Deanglow]

UIEGA will not affect taking money out of the online poker accounts.

That, and Obama has suspended all Bush regulations until a comprehensive study is done to determine which should be implemented.

[kb coolman]

I don't understand how this will change anything. All credit card deposits via major US institutions are already blocked, but Full Tilt and Stars have gotten around that by allowing direct deposit via bank account transfer via Instant eChecks or other 3rd party handlers. It's worth it to the poker sites to pay the 3rd party and keep people depositing.

As far as withdraws, the same applies. You can use direct deposit from Stars now, and you can still request checks from all of them, which all US banks will process. It just may take longer for the funds to clear when the checks are drawn on foreign banks and are therefore not subject to Check21 processing. In any case, it's nothing more than a minor irritation.

Furthermore, I suspect if this becomes a huge issue, it won't be long before a 3rd party off-shore banking system pops up catering to US players, allowing them to easily transfer $$ back and forth with US institutions. There are so many ways around this, it's not even funny.

[kingnat]

UIEGA will not affect taking money out of the online poker accounts.

That, and Obama has suspended all Bush regulations until a comprehensive study is done to determine which should be implemented.

he really needs to get to work on that free pony initiative... how the fuck am I supposed to be happy and hard working with no goddam pony!

[wufwugy]

if it was gonna happen it would have happened already, and online poker rights are moving forward at this point, not backwards

[Ragnar4]

Although Obama has now put a stop to many of Bush’s last gasp policies, it is unclear if the UIGEA falls under the scope of the restrictions. The powers brought into effect only restrict pending laws from going into effect, and not those that have already begun their tenure.

The Vice President of the American Banking Association, Steve Kenneally, has begrudgingly recommended that financial institutions begin the process of blocking transfers to online poker sites.

Did you guys even read the article?

I know that taking the money out right now won't be affected, but remember it's also funds coming in from offshore areas that could be affected later, meaning that even though P-Stars WANTS to honor my check, they can't because they can't get money from their Swiss banking account into the US to cut a US check for me.

If that hapens and you really need your money ust get yourself an offshore bank account, deposit the money there, and transfer it to your regular accout. Minor hassle but no big deal.

[a500lbgorilla]

I have 1k online, and Ive always just acknowledged that its not real money til its cashed out. And I'm not gonna cash it out. If some US regulation wants to keep it from me, it's only 1k.

[Squeaky_Midget1]

I have 1k online, and Ive always just acknowledged that its not real money til its cashed out. And I'm not gonna cash it out. If some US regulation wants to keep it from me, it's only 1k.

Exactly how I feel about Canadian money