Quoted from 2+2; I email stars to find out a little info. Hey im a player from the UK, theres been alot of rumours going around the forums that theres gonna be cash out issues from now on. I am assuming these are false, and although there may be issues with players from USA at the moment, UK players are still fine to deposit and withdraw as usual? /> Thanks for some info Thank you for your email. We appreciate your concern. PokerStars is owned and operated by a legal entity licensed and located in the Isle Of Man (a crown dependency of the United Kingdom) and we pride ourselves in abiding by all relevant laws and regulations. The current situation about which you have inquired only impacts US Players. PokerStars will continue to offer its services to all other jurisdictions. As we are not a law firm, it is difficult for us to advise our customers as to the legal situation in every jurisdiction, however the recent change is not targeted in any way at your jurisdiction. Most importantly, rest assured your funds are safe with PokerStars and will be accessible to you whenever you may wish to withdraw. We will keep all of our players up-to-date with any future developments. We sincerely appreciate your understanding and concern, and thank you for choosing PokerStars. Regards, ElsaDog PokerStars Support Team Posted by CoxyLboro
as far as im aware the only banks in trouble are the small US ones used to get the money to US players. Im not sure but i dont think this will affect UK transactions. Stuff like Neteller is risky though. Elsa: Your last paragraph is nonsense. How does the fact that they are regulated by the same company have any relevance? The investigation isnt gonna check how rigged the RNG is (no matter how much you want them to.) All they care about is the illegal activity of the sites in the US and how they got round the UIGEA. There is not gonna be some worldwide investigation into poker. Theyre just gonna try and arrest the people at the top and make them pay hefty fines probably. edit: what coxy said. Also overlays! yay! I cant see them going on too long though. Posted by offshoot
I wasn't alluding to risky RNG's. These are complex businesses. They have apparently used off-shore accounts to launder money. The Isle of man and Jersey are better known for their off-shore accounts and tax havens than they are for poker regulators. Whether these off-shore accounts are implicated is anyones guess and may prove to be the case. In cases of financial fraud the arm of the law stretches across international boundaries.
Quoted from 2+2; I email stars to find out a little info. Hey im a player from the UK, theres been alot of rumours going around the forums that theres gonna be cash out issues from now on. I am assuming these are false, and although there may be issues with players from USA at the moment, UK players are still fine to deposit and withdraw as usual? /> Thanks for some info Thank you for your email. We appreciate your concern. PokerStars is owned and operated by a legal entity licensed and located in the Isle Of Man (a crown dependency of the United Kingdom) and we pride ourselves in abiding by all relevant laws and regulations. The current situation about which you have inquired only impacts US Players. PokerStars will continue to offer its services to all other jurisdictions. As we are not a law firm, it is difficult for us to advise our customers as to the legal situation in every jurisdiction, however the recent change is not targeted in any way at your jurisdiction. Most importantly, rest assured your funds are safe with PokerStars and will be accessible to you whenever you may wish to withdraw. We will keep all of our players up-to-date with any future developments. We sincerely appreciate your understanding and concern, and thank you for choosing PokerStars. Regards, Elias PokerStars Support Team Posted by CoxyLboro
OH well, That's a relief then!
What did you expect them to say? ''We're all doomed - get your money out quick''
I remember Maxwell telling all his employees that their pensions were ring-fenced and safe. It's the line companies take when they are in trouble. Naivety FTW.
this is good for the europe people. means that the sites will be fishier. But the question is how long is it going to be when europe follows in there footsteps.
Oh no what a shame, how on earth are all the sponsored pro's going to get to the next WPT in Florida, or Aruba at the end of the month? Surely they won't be expected to pay the buyin out of their own pockets!!
I just hope this means we might get to watch a tourney on TV where all the players aren't wearing multi coloured vests with "Jokerstars" and "Full Tricks Poker"
http://www.foxbusiness.com/technology/2011/04/15/goes-versus-online-poker-sites/ Oh no what a shame, how on earth are all the sponsored pro's going to get to the next WPT in Florida, or Aruba at the end of the month? Surely they won't be expected to pay the buyin out of their own pockets!! I just hope this means we might get to watch a tourney on TV where all the players aren't wearing multi coloured vests with "Jokerstars" and "Full Tricks Poker" Posted by SighKO
I wore a badge with "Al's Bar" , at the GUKPT London LOL
I think you are being overly optimistic about these indictments having no effect on these poker clients’ services in the UK and elsewhere abroad. The FBI and the DOJ can ask our government for the assets of alleged ‘criminals’ to be seized by own authorities in accordance with treaties we have with the USA and international law.
They can base this request on many things such as these operations are using the ‘proceeds of crime’, or they possess laundered money, or even vital evidence against the companies needs to be seized e.g servers, databases etc.
It is unlikely our authorities will allow a company that is 'alleged' to have commited crimes against the US governemnt to continue to operate freely here.
I withdrew $300 eariler and have more on FTP, do u think i should withdraw my remaining $800? It sounds like our money is safe with FTP and stars moving everything to .co.uk or .eu but i fear if everyone withdraws surely they are gonna get real low on funds
I think if it was me, I would get my money out if possible
the reasoning being, 1) yes they might pay out now but they will run low on funds as some will be invested (as already pointed out), 2) once they get low, if they get hit by massive fines, where will the money come from, especially if they ahve already used there emergency contingency 3) always a chance the site could just shut down and have everything possessed at 'proceeds of crime'
Comments
OH well, That's a relief then!
What did you expect them to say? ''We're all doomed - get your money out quick''
I remember Maxwell telling all his employees that their pensions were ring-fenced and safe. It's the line companies take when they are in trouble. Naivety FTW.
So I wouldn't bother playing any big money games on these sites until we all know what's going on!
I think you are being overly optimistic about these indictments having no effect on these poker clients’ services in the UK and elsewhere abroad. The FBI and the DOJ can ask our government for the assets of alleged ‘criminals’ to be seized by own authorities in accordance with treaties we have with the USA and international law.
They can base this request on many things such as these operations are using the ‘proceeds of crime’, or they possess laundered money, or even vital evidence against the companies needs to be seized e.g servers, databases etc.
It is unlikely our authorities will allow a company that is 'alleged' to have commited crimes against the US governemnt to continue to operate freely here.
You know we do what the yanks tell us too also!
I withdrew $300 eariler and have more on FTP, do u think i should withdraw my remaining $800? It sounds like our money is safe with FTP and stars moving everything to .co.uk or .eu but i fear if everyone withdraws surely they are gonna get real low on funds
currently 157,645 players on stars, normally ~200K just a matter how much they are gonna take in legal proceedings
the reasoning being,
1) yes they might pay out now but they will run low on funds as some will be invested (as already pointed out),
2) once they get low, if they get hit by massive fines, where will the money come from, especially if they ahve already used there emergency contingency
3) always a chance the site could just shut down and have everything possessed at 'proceeds of crime'