parchedpeas Posted January 16, 2007 Share Posted January 16, 2007 Is the over-reliance on the gambling industry going to be a foolish move? http://business.guardian.co.uk/story/0,,1991485,00.html How long until Manx Radio 'scoops' me? I'd open a book on it if I wasn't scared of being arrested next time i'm in Disneyland! Link to comment Share on other sites More sharing options...
Amadeus Posted January 16, 2007 Share Posted January 16, 2007 Neteller is a payment provider, not a gaming company. Either there's more behind this than meets the eye on first glance, or the yanks have just pulled off another random operation, in a way only the yanks can. Link to comment Share on other sites More sharing options...
parchedpeas Posted January 16, 2007 Author Share Posted January 16, 2007 mate, i know what neteller is. i'm a shareholder. but it's been happening to the gaming companies as well - any US facing gaming company is likely to be hit now, and as there is so much money in supplying the US, it's pivotal to the future of the industry as it stands. and if neteller can get busted - when all they are is another paypal - then it shows how fragile this industry COULD be. Link to comment Share on other sites More sharing options...
Amadeus Posted January 16, 2007 Share Posted January 16, 2007 The industry is already looking into other directions - Europe is still a growing market, and there's that big bit of land over there - Asia. No doubt people and companies will adapt, and either get around the ban, or simply concentrate on different markets. It is a time of re-organisation at the moment, I agree, but thousands of people haven't invested billions over many years only to have it all wiped out by some ill thought of, no sense making, and badly worded piece of legislation, rushed through by a bunch of oaps that can't even spell Internet... Link to comment Share on other sites More sharing options...
manxman8180 Posted January 17, 2007 Share Posted January 17, 2007 Amadeus is quite right. The Americans can play the big boy tactics for now, but in the potential market for gaming / gambling they are small fish compared to the 'Eastern' market. The US population is, what, about 5% of that of India, China, Indonesia, Malaysia etc. Gambling is part of their culture. Like many other their dealings, the US are far too insular for their own good. Which, of course, is excellent for some of us. Link to comment Share on other sites More sharing options...
The Old Git Posted January 17, 2007 Share Posted January 17, 2007 mate, i know what neteller is. i'm a shareholder. You better not go on holiday to the USA then Link to comment Share on other sites More sharing options...
Bombay Bad Boy Posted January 17, 2007 Share Posted January 17, 2007 DoJ Press Release STEPHEN ERIC LAWRENCE and JOHN DAVID LEFEBVRE were arrested yesterday in connection with the creation and operation of an internet payment services company . LAWRENCE, 46, was arrested yesterday in the United States Virgin Islands . Criminal prosecutions related to online gambling will be pursued even in cases where assets and defendants are positioned outside of the United States." Link to comment Share on other sites More sharing options...
Bombay Bad Boy Posted January 17, 2007 Share Posted January 17, 2007 mate, i know what neteller is. i'm a shareholder. You better not go on holiday to the USA then The Register, Dec 2006 The UK will set itself up as an online gambling haven but will extradite executives to the US if asked, according to Sports Minister Richard Caborn. Link to comment Share on other sites More sharing options...
hboy Posted January 17, 2007 Share Posted January 17, 2007 It is a time of re-organisation at the moment, I agree, but thousands of people haven't invested billions over many years only to have it all wiped out by some ill thought of, no sense making, and badly worded piece of legislation, rushed through by a bunch of oaps that can't even spell Internet... Well its a growing market. There's a mug born every minute!! Link to comment Share on other sites More sharing options...
copycat Posted January 17, 2007 Share Posted January 17, 2007 as all United States dollar payments have to be in a US bank account why haven't the US authorities seized control of the Neteller dollars which they have power to do? - because there would probably be a rush out of dollars by many other institutions and they don't want that much adverse world press. If anyone has a US Dollar bank account you too could be picked up just for being from the IOM which the US think of as a tax haven so your bound to be doing something dogy. Link to comment Share on other sites More sharing options...
fatshaft Posted January 20, 2007 Share Posted January 20, 2007 Is the over-reliance on the gambling industry going to be a foolish move? http://business.guardian.co.uk/story/0,,1991485,00.html How long until Manx Radio 'scoops' me? I'd open a book on it if I wasn't scared of being arrested next time i'm in Disneyland! Well, first of all lets clear something up, there is over-reliance on the banking industry, but the gaming industry in the IoM currently consists of Microgaming, Neteller and Poker Stars. Hardly over-reliance. This move is simply strong arm scare tactics by the US Govt in an attempt to scare their citizens out of playing online. You will note, from the 4 or 5 gaming related arrests that have been made just prior to and since the passing of the UIGEA, not a single person has been American, despite Lee Jones managing Poker Stars, and the high profile team of players that own and run Full Tilt for example, Doyle Brunson and his self branded poker room, or even the Californian software company Cyberarts, who run the Skill Games Poker Network which is not only US based, but accepts US players money. Quite simply if anyone should have been arrested then they should have been knocking on these guys doors. They haven't been, why? Quite simply, if the DoJ decided to arrest Lee Jones, or Doyle Brunson, or Phil Ivey for their involvement with online poker, the apathy currently displayed by the general public in the US would suddenly be reversed completely. The questions would be long and hard - Why are you arresting these perfectly respectable citizens who we see playing in the world's biggest tournaments all the time on the tellys in our living room? Don't forget, the top poker players are huge stars in the USA, many are household names. While there is no doubt the religious right have pandered to their electorate to pass thre UIGEA, and they are paying lip service to "eradicating this criminal activity", they won't do so at the expense of US citizens. Believe me when I say, the big Vegas casinos are now gearing up towards launching their own online casnos and poker rooms, with the Venetian only recently signing just such a deal, they won't be the last, and once they are up and running in legal jurisdictions, they will turn their attention to the USA, and gaining full regulation and legalisation there as well. The last 4 months have seen huge blows for the gaming industry, but it's a blip that will weed out the weak, the strong players, of whom Poker Stars are one of the strongest, will adapt, survive, and flourish in an age when the USA finally gets their heads out of their backsides. Link to comment Share on other sites More sharing options...
fatshaft Posted January 20, 2007 Share Posted January 20, 2007 Amadeus is quite right. The Americans can play the big boy tactics for now, but in the potential market for gaming / gambling they are small fish compared to the 'Eastern' market. The US population is, what, about 5% of that of India, China, Indonesia, Malaysia etc. Gambling is part of their culture. Like many other their dealings, the US are far too insular for their own good. Which, of course, is excellent for some of us. There ws a quote from WInston Churchill, when he made a speech to the US congrees just after the war, the first time he'd visited since the conclusion of hostilities, in which he said "We can always rely on the USA to do the right thing <pause> after exploring every possible alternative" It is the same now, eventually they will realise that once again prohibition doesnt work, and that regulation in an industry that by and large is totally above board (there have been only a couple of rogue poker rooms) is the way forward. Link to comment Share on other sites More sharing options...
hboy Posted January 20, 2007 Share Posted January 20, 2007 It is the same now, eventually they will realise that once again prohibition doesnt work, and that regulation in an industry that by and large is totally above board (there have been only a couple of rogue poker rooms) is the way forward. Which industry is that then? It never ceases to amaze me the ill-informed bullshit people talk about how clean the online gambling industry is. Link to comment Share on other sites More sharing options...
fatshaft Posted January 20, 2007 Share Posted January 20, 2007 It is the same now, eventually they will realise that once again prohibition doesnt work, and that regulation in an industry that by and large is totally above board (there have been only a couple of rogue poker rooms) is the way forward. Which industry is that then? It never ceases to amaze me the ill-informed bullshit people talk about how clean the online gambling industry is. The Gaming Industry. what on earth is uninformed about my comments? Dutch Boyd's room went down in debt, and some players lost their funds because of it, there hasn't been another single incident of a poker room closing and running with funds. Put that record against any other industry and I would be confident that it stands up fantastically. How many rogue builders out there? Link to comment Share on other sites More sharing options...
Amadeus Posted January 20, 2007 Share Posted January 20, 2007 Which industry is that then? It never ceases to amaze me the ill-informed bullshit people talk about how clean the online gambling industry is. Knowing Mr fatshaft rather well, and working in the same industry as he does, I think it's safe to say that it's your comment which is rather ill-informed. Link to comment Share on other sites More sharing options...
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