FBI Seizes Fulltiltpoker.com, pokerstars.com, etc

[DeletedUser394]

But I would like to see Snowbanks website.

Poker Videos, Online Poker Training & Strategies, Learn To Play Texas Hold 'em | Bluefire Poker Training

 

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[DeletedUser394]

That's the first thing that I thought of. I heard one of the big issues surrounding this was the fact that the players who were making serious money weren't paying taxes since they had no proof of income. My friend has $24k frozen in a pokerstars account right now.

I don't know much about online poker, but all of those sites were hosted off shore. I don't know what's legally involved, but what an opportunity it would be to start an online poker site if it were legally done. There's virtually no competition right now.

There are a dozen + websites operating out of such places as the Kahnawake Gaming Commission (not sure on the spelling), Gibraltar, and elsewhere that are perfectly legal wordwide (and that are unaffected by what happened today), why? Because they don't accept USA players.

America is the problem. In the usa, it is illegal to transfer money through an institution and into an online poker account.

You can do it anywhere else in the world, perfectly legally. (with the exception of France, and Zimbabwe or something.)

 

[Stu_Hefner]

There are a dozen + websites operating out of such places as the Kahnawake Gaming Commission (not sure on the spelling), Gibraltar, and elsewhere that are perfectly legal wordwide (and that are unaffected by what happened today), why? Because they don't accept USA players.

America is the problem. In the usa, it is illegal to transfer money through an institution and into an online poker account.

You can do it anywhere else in the world, perfectly legally. (with the exception of France, and Zimbabwe or something.)

Yea, but the USA is a big market. Someone was tellin me it accounts for over 40% of Full Tilt players. So not having American players will always kill business slightly, afterall, thats why PS, FT, UB, AB are the biggest.

So what's happened with Bodog? That man living out of Antigua has not been in trouble, i guess because the USA can't indite him for any offense. Does Bodog still use American customers?

Download PokerStove, go type in those hand situations above, and you'll see that AA/KK are hardly massive favorites against any two cards.

You have a point, but you would call J9, with 2 preflop shoves all in? Right before the bubble? It happens too often.

But you do make steady profit playing tight and aggressive, i guess that's why they teach you all this on training sites. Tight and aggressive play is like something out of the online poker bible. Do it well, and you will succeed.

I'm also interested in seeing Snowbank respond on this discussion.

On a related subject, does anyone want to team up with me on a online poker venture lol? :smxB:

 

[Bozigian]

n a related subject, does anyone want to team up with me on a online poker venture lol?

Team up and do what?

Im interested

 

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[The Intrepid]

Seems like the real lesson was missed here: Sell "shovels", be the house, do it legally, and do it with scale...

Professional poker players have lost money gambling illegally? So sad.

I'm much more interested in a wizkid owning a processor I've never heard of who can afford to build the richest house in Australia while maintaining a fleet of super exotics.

 

[JayKim]

On a related subject, does anyone want to team up with me on a online poker venture lol?

I would!

 

[Stu_Hefner]

Seems like the real lesson was missed here: Sell "shovels", be the house, do it legally, and do it with scale...

Professional poker players have lost money gambling illegally? So sad.

I'm much more interested in a wizkid owning a processor I've never heard of who can afford to build the richest house in Australia while maintaining a fleet of super exotics.

It's only gambling illegal because the US says it is.

I'm trying to find more info about him too.. it interest me how someone was able to pull that off. So had he not been stealing from the companies was the processor he ran legit? Or would he have been in just as much trouble? Because the way I see it, if Stars never notified authorities of his presence in Vegas, they wouldn't be in this mess.

 

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[Stu_Hefner]

I would!

Team up and do what?

Im interested

Run a poker site. I always considered it, but such an over-saturated field.
Now that US poker players have been taken out of the equation it won't change much.
Unless ofcourse you could legally let them play on your site, which won't be happening

 

[Graves]

I laughed @ the games are rigged
Why would they rig the games ? So you get pissed off and stop playing on their site ? The more people play, the more rake they get, so pissing people off really serves no purpose

Anyway, inb4 housing boom in Las Vegas

 

[DeletedUser394]

Yea, but the USA is a big market. Someone was tellin me it accounts for over 40% of Full Tilt players. So not having American players will always kill business slightly, afterall, thats why PS, FT, UB, AB are the biggest.

So what's happened with Bodog? That man living out of Antigua has not been in trouble, i guess because the USA can't indite him for any offense. Does Bodog still use American customers?

You have a point, but you would call J9, with 2 preflop shoves all in? Right before the bubble? It happens too often.

Surprisingly pokerstars is largely unaffected. I'm logged in now and there's over 230,000 players online. (none from the usa)

So these sites are big enough to survive.

And as for the J9 call.. I would actually do that, if it is mathematically correct to do so. For instance say I have J9 and there are two people all in.

Seeing as it's near the bubble of the tourney, I can be fairly certain that the first person shoving has a marginal hand, and the person calling the all in has a premium hand or middle pocket pair.

Using pokertracker (which is a necessity) I can better estimate those player's possible hand ranges.

Then let's say that I estimate that my hand (J9) will win in this situation only 30% of the time. If my all in call equals less than 30% of the total pot (which it would be if there were two all ins), then it makes some sense to call.

Edit: As for Bodog, nobody actually plays there anymore haha (peak players is 300 ...pokerstars is 250,000), but even so Bodog is 'business as usual' according to a statement they released yesterday.

American players can still play on Merge and elsewhere.

 

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[Rickson9]

So is it possible to run an online poker site from Australia or another country? Is there any info about the legal issues involved with it?

Calvin Ayre: How A Pig Farmer Made Billions
How a pig farmer made billions in online gambling - CTV News

http://bodog.net/

 

[wallstreet]

Sigh good old usa. Why is our government obsessed with making everyone poorer, and forcing people to take hourly jobs?

 

[Bozigian]

Sigh good old usa. Why is our government obsessed with making everyone poorer, and forcing people to take hourly jobs?

Uh... I saw this commercial it kind of made me think a little.....
[video=youtube;CC8jAd84VyQ]http://www.youtube.com/watch?v=CC8jAd84VyQ[/video]



Some of the comments about the video:
You got the Chinese now making airplanes, GM makes and sells more cars in China then in the US. You have Chinese kids in 6th grade doing college physics and chemistry. It wasn't the government who sold us out. Its You!! the American people sold its country out. The enormous amount of debt is because of the American public. We borrowed ourselves into oblivion, the government only provided the means by which you did it. {106 thumbs up}

 

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[camski]

From what i understand Americans can still play on pokerstars, they just cant deposti and withdrawal money. To me this is a great opportunity for someone overseas to start a business. You can still transfer money from player to player on pokerstars. If I lived overseas I would either help people (like myself) open up foreign bank account and foreign address so I could set up a new pokerstars account (for a small fee of course) or set up my own Pstars account. Let americans wire me money and then make deposits into my own Pstars account and transfer the moeny thru the pokerstars platform (for a small handling fee). Withdraws would be held the same way. Just a thought for you overseas fastlaners. I am personally going to look into offshore account, I should have gotten one years ago anyway.

 

[camski]

In case anyone else is thinking the same thing.

Offshore bank account - AskMen

 

[Bozigian]

What if the feds caught you doing that?
Would you get in trouble for it?

 

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[Stu_Hefner]

From what i understand Americans can still play on pokerstars, they just cant deposti and withdrawal money. To me this is a great opportunity for someone overseas to start a business. You can still transfer money from player to player on pokerstars. If I lived overseas I would either help people (like myself) open up foreign bank account and foreign address so I could set up a new pokerstars account (for a small fee of course) or set up my own Pstars account. Let americans wire me money and then make deposits into my own Pstars account and transfer the moeny thru the pokerstars platform (for a small handling fee). Withdraws would be held the same way. Just a thought for you overseas fastlaners. I am personally going to look into offshore account, I should have gotten one years ago anyway.

This is all I have been looking into since yesterday.

The problem is, I have a friend that has been banned from pokerstars because he used to transfer money with a friend constantly.

 

[camski]

What if the feds caught you doing that?
Would you get in trouble for it?

Trouble for what? it isnt illegal to have an offshore bank account.

 

[Stu_Hefner]

And as for the J9 call.. I would actually do that, if it is mathematically correct to do so. For instance say I have J9 and there are two people all in.

Seeing as it's near the bubble of the tourney, I can be fairly certain that the first person shoving has a marginal hand, and the person calling the all in has a premium hand or middle pocket pair.

Using pokertracker (which is a necessity) I can better estimate those player's possible hand ranges.

Then let's say that I estimate that my hand (J9) will win in this situation only 30% of the time. If my all in call equals less than 30% of the total pot (which it would be if there were two all ins), then it makes some sense to call.

Logical pot odds, i guess. I'm not a fan of all the Pokertrackers and software, what do all these players do in live events? Whatever excels ones game though. Its all fine.

 

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[Stu_Hefner]

Trouble for what? it isnt illegal to have an offshore bank account.

But it is illegal to gamble online from the States, is it not?

 

[DeletedUser394]

Logical pot odds, i guess. I'm not a fan of all the Pokertrackers and software, what do all these players do in live events? Whatever excels ones game though. Its all fine.

There isn't an online pro in the world that doesn't use PokerTracker (pokertracker is one program, and it's perfectly legal on all sites.)

You need to exploit any small edge that you can, and PT3/HEM provide them.

Absolutely no point playing online if you don't have either PT3 or HEM and rakeback.

There's times when I'm playing 16-24 tables at once, and the only way to keep track of my opponents tendencies is to utilize these tools.

 

[DeletedUser394]

But it is illegal to gamble online from the States, is it not?

Nope it isn't.

It's illegal to transfer money from an institution into an online poker account. It's quite dumb, but it is what it is.

 

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[Stu_Hefner]

Nope it isn't.

It's illegal to transfer money from an institution into an online poker account. It's quite dumb, but it is what it is.

A US institution or any in general? Would Camski's idea be legally permitted?

Hey Ryan have you looked into any gaming shares lately?

 

[DeletedUser394]

No idea. Read up about it on 2+2. They've got all the relevant info.

I know that the last part wouldn't work (the transfers from account to account). Transfers are for rare occasions or the odd time that you need to use the service. Any account making dozens of transfers every single day (and not playing) will be shut down, and your money will probably be forfeited.

Gaming shares?

 

[Stu_Hefner]

Sorry I meant stocks: MGM, WYNN, ect.

 

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[DeletedUser394]

No I haven't.

Interesting side note, most of the top 10 biggest online poker rooms are legitimate corporations trading on the London Stock Exchange and elsewhere.

 

[Bozigian]

Interesting side note, most of the top 10 biggest online poker rooms are legitimate corporations trading on the London Stock Exchange and elsewhere.

So will the stocks fall because of the Feds on what they have done?

And then people buy shares because its low?

 

[DeletedUser394]

Investopedia.com Tutorials: Building Blocks and the Basics of Investing

 

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[Bozigian]

Sick I was just looking for something like this.

I always find things I am looking for by accident

 

[jeandearme]

I can see that in Poland they're not going anywhere:

Full Tilt Poker - Ucz si