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The Suite Blog >> The Many Manifestations of the Online Poker Craze

 

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August 7, 2009 - Alright, let's just say that I have online poker on my mind...Because, you know what? So does everybody else. Especially if you're the New York State Attorney General. If you didn't hear already, and you're actively playing online poker, you might want to listen up. And not that I would tell you to listen to ol' Sweetie any other time, 'cause I don't know if I would even listen to myself.

The New York Attorney General's Office and FBI has apparently been breaking a sweat undertaking a lengthy investigation that has thus far involved a seizure of over $33 million in poker money from the payment processor, Instant eCheck, and more recently, the arrest of a Canadian man said to launder over $350 million in poker bets made from New York residents. It was the NYAG who was also instrumental in bringing down Neteller, as well as some other high profile individuals involved in the online gambling world.

I suppose where I'm going with all this is that you might want to think twice about logging on with your favorite online poker room after coming back from a Yankees game. In other words, New York residents, it appears, are at more risk of getting screwed when it comes to placing online bets.

Now, I'm not saying you will definitely be left out high and dry. But I am saying that if the New York Attorney General is targeting online poker operations that are taking bets from New York residents, well then, if and when any money gets seized, there is a good chance it will be your money, which you probably won't see for a long time.

If you live in anywhere in the U.S. I'm not going to tell you to play online poker, nor to not to. Either way, it's up to you. That is your right. Now, whether or not you get cheated or don't get your rightful winnings paid out to you, that is your right too. 'Cause you know what? Your government chooses to not regulate and provide you the necessary protection. Instead, your government could end up being the sole reason why you don't get paid your winnings.

At this stage in the game, no U.S. citizens have been arrested for playing online poker, or online casino gambling for that matter. In fact, the UIGEA does not state it is illegal for citizens to gamble online. It simply states it is illegal to take money for wagers made on anything other than horse racing, fantasy football and online lottery. Let's just leave it at that.

The good news, however, is that legislation calling for the regulation of online poker is doing the rounds in Congress right now. The latest bill to surface was introduced by Senator Robert Menendez, and calls for a 10% tax rate imposed on deposits and shared by both the Federal and State governments. Keep your fingers crossed peeps.

Originally published: August, 2009 | Categories: Online Poker

 

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