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View Full Version : Online Poker basically shut down by Feds



JohnnyMack
4/15/2011, 03:11 PM
http://latimesblogs.latimes.com/money_co/2011/04/three-largest-online-poker-sites-indicted-and-shut-down-by-fbi.html

soonercruiser
4/15/2011, 03:16 PM
Musta found some cards up their electronic sleeves!
:O

(Or.....let not there be one source of revenue without taxation!)

SoonerNate
4/15/2011, 03:19 PM
It's still working on my pc. When are they "shutting it down?"

BTW, first they take away channelsurfing.net and atdhe.net and now this?

Thanks Obama you phuck.

JohnnyMack
4/15/2011, 03:20 PM
It's still working on my pc. When are they "shutting it down?"

http://fulltiltpoker.com/

http://www.pokerstars.com/

http://www.absolutepoker.com/

SoonerNate
4/15/2011, 03:21 PM
It still has the option under my account to "deposit real funds."

JohnnyMack
4/15/2011, 03:21 PM
Have you refreshed your browser or are you just being obtuse as usual?

Mongo
4/15/2011, 03:23 PM
just get your lazy *** to one of the many casinos in OK

pphilfran
4/15/2011, 03:24 PM
Have you refreshed your browser or are you just being obtuse as usual?

For me, only absolute has he FBI takeover page...

bigfatjerk
4/15/2011, 03:42 PM
Why should the fed care what anyone does with their money?

yermom
4/15/2011, 04:09 PM
i was expecting this in 2006 and stopped playing at that point to make sure i didn't get money frozen somewhere...

sappstuf
4/15/2011, 04:13 PM
i was expecting this in 2006 and stopped playing at that point to make sure i didn't get money frozen somewhere...

So you got bluffed for 5 years straight?? Let's play poker sometime! ;)

SoCaliSooner
4/15/2011, 04:15 PM
Don't gamble with your money and go into debt. The government hates competition.

yermom
4/15/2011, 04:15 PM
So you got bluffed for 5 years straight?? Let's play poker sometime! ;)

i also needed to work on my post count.

bigfatjerk
4/15/2011, 04:24 PM
Don't gamble with your money and go into debt. The government hates competition.

Exactly. Although if the government was actually playing online poker, they would have a better shot at making money then doing what they do now.

badger
4/15/2011, 05:05 PM
Someone I knew would openly brag about online hands on pay sites and even played online poker (again, pay-sites) on computers that didn't belong to this person. I just wanted to blurt out "You know that's illegal, right?"

Online poker's golden year was the year Jamie Gold won the WSOP main event, as there were so many sponsored entries that the winning pot was the largest ever and I don't think ever got that big ever again for a single event. After that year, the government started cracking down on real money sites and thus, no longer sponsoring WSOP entries and a lot less people entered and then... big pots were still big, but not as insanely huge as Gold's year.

I always though Full Tilt et al survived that massive exodus because they were free. I guess they were still collecting entry fees and paying out prizes?

bigfatjerk
4/15/2011, 05:10 PM
Chris Moneymaker winning started the poker boom.

SoonerNate
4/15/2011, 05:10 PM
Have you refreshed your browser or are you just being obtuse as usual?

shut your lip smartass. It's a program that you download when you sign up. There is no "refresh" feature. So shut it Nancy

badger
4/15/2011, 05:13 PM
Why should the fed care what anyone does with their money?

I wonder if people were reporting their online gaming losses for tax purposes without reporting their online winnings? I imagine that would be why the gov't cares - anyone that wins a significant amount at a casino has to sign tax documents on the spot to receive their payout, I think.

SoonerNate
4/15/2011, 05:16 PM
I wonder if people were reporting their online gaming losses for tax purposes without reporting their online winnings? I imagine that would be why the gov't cares - anyone that wins a significant amount at a casino has to sign tax documents on the spot to receive their payout, I think.

You can't report losses unless you have an established business. Even then you must show a profit within the first few years or the IRS will consider your activity a "hobby."

badger
4/15/2011, 05:16 PM
Chris Moneymaker winning started the poker boom.

I remember the year after he won he tried to act like he had been at the top forever - he got played like a fiddle because he couldn't shut his mouth. The young cocky player - Fischman I think his name was? Also seemed to let all of his TV time get to his head.

But to be nice to pro poker players - they seem to be incredibly generous, seeing how much they were willing to dish out on second two of Celebrity Apprentice. NP said it was because they knew how easy it was to gain and lose money that they don't mind parting with it, especially for a good cause :)

JohnnyMack
4/15/2011, 06:25 PM
shut your lip smartass. It's a program that you download when you sign up. There is no "refresh" feature. So shut it Nancy

I hope the Feds take all your money, dickweed.

yermom
4/15/2011, 06:36 PM
Chris Moneymaker winning started the poker boom.

i'd say it was more the World Poker Tour

i remember before that it was hard to find Texas games in casinos, and they were usually limit, except for the tournaments

back then it was all about 7-Stud, Hi-Lo and Omaha Hi-Lo

rekamrettuB
4/15/2011, 07:09 PM
I won a buttload of money playing online poker. I haven't played in several years tho. Just like everyone you know that visits these Indian casinos, I never lose and the only times I don't win...I break even.

Leroy Lizard
4/15/2011, 08:55 PM
Why should the fed care what anyone does with their money?

I don't like gambling. So I think this is a great decision.

Penguin
4/16/2011, 01:00 PM
Yep, I quit back in 2006 or so when the feds started issuing warnings, so I have no sympathy for anybody that has their money locked up by the FBI. Good luck going to a federal judge and explaining why you deserve to get your money back even though you knowingly participated on illegal websites.


I still miss playing 7 card stud online, though. The losses would be small and spread out, but the pots would be huge. Even if you only won 2 or 3 pots an hour, you finished way ahead.

SoonerBread
4/16/2011, 01:29 PM
i also needed to work on my post count.

Mission accomplished

SoonerBread
4/16/2011, 01:31 PM
You can't report losses unless you have an established business. Even then you must show a profit within the first few years or the IRS will consider your activity a "hobby."

I haven't looked into it extensively because, well, I don't gamble...but I have heard from those that do that there is a tax provision to write off losses due to casino gambling. Illegal internet casinos obviously don't count.

I'm too lazy to look it up, and I'm sure if someone on this board cares, they'll do it for everyone anyway.

yermom
4/16/2011, 03:32 PM
Losses can only offset winnings

soonercruiser
4/16/2011, 10:14 PM
It still has the option under my account to "deposit real funds."

NO! That links to the IRS site!

:eek:

SoonerNate
4/17/2011, 12:45 AM
I haven't looked into it extensively because, well, I don't gamble...but I have heard from those that do that there is a tax provision to write off losses due to casino gambling. Illegal internet casinos obviously don't count.

I'm too lazy to look it up, and I'm sure if someone on this board cares, they'll do it for everyone anyway.


If you were a professional poker player this would be the case yes. There are many deductions that are strange depending on your field. I have a client that is a cop and he can write off his haircuts as they are required for his job.

pphilfran
4/17/2011, 03:48 AM
If you were a professional poker player this would be the case yes. There are many deductions that are strange depending on your field. I have a client that is a cop and he can write off his haircuts as they are required for his job.

I doubt if that is a legal deduction....

diverdog
4/17/2011, 07:59 AM
It's still working on my pc. When are they "shutting it down?"

BTW, first they take away channelsurfing.net and atdhe.net and now this?

Thanks Obama you phuck.

Nate:

I have read two threads where you blame Obama for shutting down online gaming. You need to do a little research. The attack on online gambling happened in the Bush administration in 2006. If you want to blame someone then blame the Republicans.


Feds issue rule aimed at Internet gambling ban

The Bush administration issued a final regulation Wednesday aimed at banning Internet gambling, drawing criticism from Democrats who mentioned it would burden financial companies.

The rule from the Treasury Department and Federal Reserve needs those companies to resolve procedures to prevent payments in connection with unlawful Internet gambling. They would be expected to comply by Dec. 1, 2009.

The chairman of the House Financial Services Committee, Rep. Barney Frank, D-Mass., had inquired the Treasury this week not to move ahead now, saying it would "burden the financial services industry at a time of economic emergency."

The rule doesn't define "unlawful Internet gambling." That has been an issue since Republicans pushed by ways of the law that the new rule puts in place, by attaching it to a port safety bill in 2006.

The law sought to curb online gambling by prohibiting financial institutions from accepting payments from credit cards, verifies or electronic fund transfers to settle online wagers. But the law didn't offer an understandable definition of Internet gambling, as a replacement referring to existing federal and state laws, which themselves provoke differing interpretations.

Banks and other financial institutions complained they were being forced into a law enforcement role when Congress couldn't even define what behavior it was trying to prevent. Payments are complicated to track anyway and online gambling companies can disguise themselves with relative ease.

pphilfran
4/17/2011, 08:03 AM
Nate:

I have read two threads where you blame Obama for shutting down online gaming. You need to do a little research. The attack on online gambling happened in the Bush administration in 2006. If you want to blame someone then blame the Republicans.

Good luck in trying to get some to understand...

He also bitches about Channelsurfing being shut down...

I would imagine that if he owned a business that, under contract, had a certain territory for the product...and then if someone came into his territory with the same product he would be fine with the loss in sales and profits...

diverdog
4/17/2011, 08:14 AM
Good luck in trying to get some to understand...

He also bitches about Channelsurfing being shut down...

I would imagine that if he owned a business that, under contract, had a certain territory for the product...and then if someone came into his territory with the same product he would be fine with the loss in sales and profits...

Actually, the real blame goes to the NFL. They have lobbied to shut down online gaming for years. Delaware was one of a few states that had sports betting in their constitution and when they tried to open it up the NFL came in and sued. We have a form of sports betting called parlor games but we were not allowed to do full blown sports betting.

pphilfran
4/17/2011, 08:21 AM
Actually, the real blame goes to the NFL. They have lobbied to shut down online gaming for years. Delaware was one of a few states that had sports betting in their constitution and when they tried to open it up the NFL came in and sued. We have a form of sports betting called parlor games but we were not allowed to do full blown sports betting.

I was talking about Channelsurfing taking viewers from the national and local networks and costing them revenue...

diverdog
4/17/2011, 08:34 AM
I was talking about Channelsurfing taking viewers from the national and local networks and costing them revenue...

I am totally lost on this subject. Can you link me to something to read?

pphilfran
4/17/2011, 08:38 AM
I am totally lost on this subject. Can you link me to something to read?

You can't get lost in Delaware...it is too small..

I am watching Top Gear...aint got time for links...

olevetonahill
4/17/2011, 09:01 AM
I am totally lost on this subject. Can you link me to something to read?

Google is yer frien :D

http://www.examiner.com/sitcom-in-national/channelsurfing-net-other-tv-streaming-domains-seized-by-u-s-government

bigfatjerk
4/17/2011, 09:01 AM
I have read two threads where you blame Obama for shutting down online gaming. You need to do a little research. The attack on online gambling happened in the Bush administration in 2006. If you want to blame someone then blame the Republicans.


I'm not saying this is a democrat problem or republican issue for that matter. It's just another example of big government. There's not a big difference between the 2 parties right now.

diverdog
4/17/2011, 09:05 AM
I'm not saying this is a democrat problem or republican issue for that matter. It's just another example of big government. There's not a big difference between the 2 parties right now.

Oh I agree. I am okay with online gaming as long as it is a level playing field with actual brick and mortar casinos and they pay taxes.

diverdog
4/17/2011, 09:06 AM
Google is yer frien :D

http://www.examiner.com/sitcom-in-national/channelsurfing-net-other-tv-streaming-domains-seized-by-u-s-government

Thank you. The only thing I came up with was channel surfing via a remote control.

olevetonahill
4/17/2011, 09:15 AM
Thank you. The only thing I came up with was channel surfing via a remote control.

:D :D :D :D :D ;)

sappstuf
4/17/2011, 12:07 PM
Nate:

I have read two threads where you blame Obama for shutting down online gaming. You need to do a little research. The attack on online gambling happened in the Bush administration in 2006. If you want to blame someone then blame the Republicans.

http://3.bp.blogspot.com/_J51m1UnuUog/S-FaQHpT5_I/AAAAAAAAAfU/cfN7xXfUeWM/s1600/Bush_Fault%5B1%5D.gif

Sorry, DD. The 2006 law did not directly outlaw online poker sites, but instead barred businesses from taking payments for “unlawful” online gambling, leaving the definition of what is unlawful to others. (http://www.latimes.com/business/la-fi-poker-busts-20110416,0,308055.story)”

That was passed 5 years ago and nothing happens until now. And what do you know... Look what DC is doing and there was an article on it 4 days ago.


Internet gambling is coming to D.C. (http://www.washingtonpost.com/blogs/post_now/post/internet-gambling-is-coming-to-dc/2011/04/13/AF62F4UD_blog.html)

The District is becoming the first U.S. jurisdiction to allow Internet gambling, trying to raise millions of dollars from the habits of online poker buffs and acting ahead of traditional gambling meccas like New Jersey and Nevada.

Sounds like someone in the government is making sure they have the monopoly on internet gambling to be used for pure goodness instead of the evil capitalists taking money for profit..