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The Suite Blog >> Instant eCheck Not So Instant at Online Poker Rooms

 

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June 4, 2009 - If you're an active online poker player, you've probably heard by now that the popular cash withdrawal service known as eCheck has been shut down. Heck, you may even be owed some money. The last tally in frozen funds, apparently, is now over $30 million. It started off with a seizure of $19 million from a bank in Arizona and one in Los Angeles, and has now reached over the $30 million.

Who is doing all this "money seizing" you ask? Not surprisingly, it's the U.S. Attorney for the Southern District of New York State. That's right - the same turkey's who attacked Neteller, resulting in a seizure of $60 million and a big old spanking in the form of a $136 million fine. Basically, now that another payment processor is doing well for itself by becoming the number one choice for transferring funds for online wagering purposes, the New York AG steps in to put an end to illegal activities under the 1969 Wire Act. Never mind the millions of dollars to be gained. Of course it's not about that, right? Right.

And yes, I did say the 1969 Wire Act. Can you believe all this law enforcing is being done under the outdated legislation the Unlawful Internet Gambling Enforcement Act (UIGEA) was supposed to replace? I mean, if that doesn't say something about the UIGEA, I don't know what does. What's that you say? Barney Frank? Well, only time will tell if Congressman Frank's new bill gets the support needed to finally regulate online gambling in the U.S.

In the meantime, I guess it's the Wild Wild West in New York. I guess if it's going to be an unregulated "grey" market where everybody fends for their self, I suppose that gives the New York Attorney the right to just freeze bank accounts and steal money, right? We all know that isn't going to stop online gambling in the States. As fast as one payment processor gets shut down, another starts up. And while it sucks that many players are still waiting for their money, the fact of the matter is that the online poker rooms offering eCheck, like Poker Stars, have more money than the NY Attorney knows what to do with.

Now, yours truly, Sweetie, is no U.S. online poker player. So, you're not going to hear me complaining about not getting my eCheck. But the fact of the matter is that players will get paid. The U.S. government will step in to freeze things up, work out a deal to get their fare share, and the poker rooms will still have plenty to pass round. That's how it goes folks. If you want your government to regulate, write your Senator. In the meantime, there are plenty of offshore regulated online casinos and poker rooms suited and willing to allow U.S. citizens to gamble online.

Originally published: June, 2009 | Categories: Online Poker

 

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