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
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
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.
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