POKER/GAMBLING NEWS

[blueday]

 US-FACING operators have been hit by an overnight crackdown on online gambling payments by credit card giant Mastercard.

The US company is believed to have toughened its stance on the widespread practice of operators coding egaming transaction as other kinds of online commerce, which will all its US customers from using their cards to gamble online.

Rival US card giant Visa is rumoured to have taken a similar measure, although this could not be confirmed at the time of writing.

The action is a sign that banks and payment companies are preparing for implementation of America’s Unlawful Internet Gambling Enforcement Act (UIGEA), which bans the facilitation of online gambling by payment companies.

This was originally supposed to have been enforced from 1 December 2009, although the US treasury later approved a delay allowing companies until 1 June 2009 to comply.

The development will increase reliance on alternatives to credit card deposits such as those offered by EwalletXpress or Poker Echecks, which work similarly to traditional paper cheques but are issued electronically, allowing players to deposit and play from an electronic wallet.

Sites likely to have been hit by the Mastercard move include US sports betting giant Sportsbook.com which today announced that it will leave the Cake Poker network to join Ireland's Merge Gaming network.

The action by Mastercard coincides with a federal appeals court ruling this week upholding a contempt order for refusing to comply with a grand-jury subpoena against two companies owned by Canadian Douglas Rennick, who is accused of processing more than $350m in payments for Internet gambling companies.

~from EGR

[blueday]

Piling on the agony for US online gamblers

The giant Visa card processing conglomerate has joined Mastercard in clamping down on Internet gambling transactions, according to growing reportage in the US media.

Although the implementation of the UIGEA regulations has been delayed to June 2010, the e-processing companies seem intent halting the allegedly widespread practice of operators cloaking online gambling transactions by coding them as other forms of ecommerce.

(posted in the LCB news)

[blueday]

Despite restrictions, US punters spent $8 billion online in 2009
 
The widely read U.S. IT publication Network World took up the legalisation of online gambling story this week, recapping on the efforts of Congressman Barney Frank to overturn the UIGEA and set up a regulatory and taxation regime for the industry in America.
 
Network World asked the rhetorical question "why would legalizing online gambling be a good thing?" and provides the answer: "Because the public wants it! We know this because U.S. citizens spent an estimated $8 billion last year betting online."
 
Author Mark Gibbs does some simple arithmetic based on a proposition that each online gambler spends a moderate $500 a year, and comes up with 16 million players or about 1 in every 4 US punters over the age of 21 years.
 
The author also draws attention to an online poll by US News and World Report, in which more than 91 percent of respondents answered "Yes" to the question "Should Online Gambling Be Legalized?"
 
Gibbs goes on to examine the standpoints of opponents and supporters of legalised online gambling before observing that despite opposition in some political quarters, there has been no suggestions in the USA that state lotteries or tribal gambling be curtailed or outlawed.
 
He attributes this to the big money involved, which he quotes as $28 billion annually (2008 numbers) in tribal gambling, and over $75 billion in state lotteries, of which some $18 billion flows into state coffers (again, 2008 stats).
 
He then compares this with the potential tax revenues from legalised online gambling, quoting a Joint Committee on Taxation estimate that Congressman Frank's proposed legislation would generate nearly $42 billion of tax revenues over the next 10 years.
 
The author concludes: "I'm not against gambling. I can't find any reasonable moral or ethical grounds to oppose it and, as someone once said, gambling is a tax on people who are bad at math. In fact, I find it surprising that in the land of the brave and the home of the free anyone would want to tell you what you can and can't do with your money.
 
"After all, if it's good enough for the states and good enough for Indian tribes, then why wouldn't it be good enough for Internet users?"

[Tony Trader]

These politicians here need to get there heads out of there a**** and get with the program.

There are land casinos in about 38 of the 50 states and if theres not a land casino theres racetracks with slot machines in them.

If they don't want my tax money from online gambling then it's there loss not mine

Tony.

[blueday]

Exactly Tony. 

I'm unclear as to why the US Govt. are not "jumping on the bandwagon" when it comes to gambling.  There is some serious money to be made with online gambling.

blue

[josie46]

yes i agree, they usaly do anything for tax money, ty josie46

[lipstick_xoxos]

Bank employees began getting suspicious when they saw many large checks issued by a Naples man’s company, according to an ongoing federal investigation.

When questioned, customers cashing them explained the MCM Capital Management checks were payments from Internet Poker gambling winnings.

When bank tellers and managers saw millions of dollars in wire transfers going in and out of Michael Olaf Schuett’s bank accounts, many shut down accounts for the hundreds of companies he owns after discovering they were linked to gambling, federal documents say.

For FedEx employees, it was the roughly 51 packages being mailed daily from his Chesapeake Avenue home that made them question what the 29-year-old was doing there.

“Federal Express employees became suspicious of Schuett’s activity when Schuett began mailing over 150 parcels per week,” says a federal complaint alleging Schuett is involved in money laundering. “FedEx employees opened several of the parcels and determined that each contained a check.”

Those are the allegations outlined in a 39-page complaint filed in U.S. District Court, Fort Myers, that shows Schuett is the target of a federal investigation.
Schuett, also known as Schütt, a German national whose visa expires in April, is being held without bond in Lee County jail after a federal judge ruled Monday he was a flight risk.

U.S. Magistrate Judge Sheri Polster Chappell cited his limited ties to this country, that he’d been married only a month to a woman he’d known for nine months, that he lives in Germany, and has no employment ties here.

“The court further takes into account the amount of money involved in the alleged crime and the number of bank accounts used to conduct the scheme,” Polster Chappell wrote in her ruling, citing 40 accounts opened at Bank of America.
In denying bond, she also pointed out Schuett was planning to purchase a house using illegal funds. “The house was going to be put in only the defendant’s new wife’s name,” she wrote.

Federal investigators seek to seize nine bank accounts Shuett holds under his name and company names: MCM Capital Management Corp.; MI Global Inc.; South Naples Escrow Co.; Southwest Florida Payroll Co.; Woodhouse Systems; Mathew’s Trade Corp; and Internet Payment Services Group Inc.

As of Feb. 12, the complaint says, there was $2.13 million left in accounts at Bank of America, Ironstone, SunTrust, Regions Bank, BB&T, Iberia Bank and Royal Bank of Canada.

Schuett’s federal public defender, Frank Zaremba, could not be reached for comment. Phone numbers listed for Schuett have been disconnected.
The condominium Schuett lived in is owned by Jean and Kenneth Nitsche. Jean Nitsche declined comment on Schuett.Collier County records show Schuett’s new wife is Jennifer Sherman, 28. She could not be reached for comment.

In the complaint, Special Agent Nicholas J. Menster of the U.S. Secret Service, asked the judge to allow funds to be credited to Schuett’s bank accounts, but to prohibit payouts for 14 days from when a search warrant is issued.

Federal agents asked to search Schuett’s home and seize computers and his Powership Federal Express shipping device, which would provide evidence showing where packages were shipped. Feds also seek to seize a 2009 Audi Quattro, three expensive Rolex watches, cash and other property they contend were purchased with illegally gained funds.

The complaint says Schuett’s car, whose tag is USAG24 — in the name of one company he operates — was purchased for $23,487.20 at Audi of Naples in December. Schuett bought the watches at Mayors Jewelers at Coconut Point Mall in Estero, reports say.

The complaint says Schuett incorporated numerous companies in Naples, Tampa and Bradenton. State incorporation records show that through USAG24, he’s the officer and registered agent for 424 businesses, but he owns others under his name.

However, the state Bureau of Financial Investigations said Schuett has never registered as a money transmitting business, which prevents money laundering. The complaint shows the amount of money involved would be a first-degree felony.
The complaint indicates Schuett became a target after many customers came to banks with large checks issued by MCM Capital Management.

“On several occasions, recipients of the checks have advised bank tellers and bank investigators that the checks they received from Schuett’s companies are winnings from online gambling,” the complaint says.

The investigation shows Schuett had opened about 40 accounts with Bank of America over the past three years and since Nov. 1, 2007, received wire transfers and transferred about $70 million to 23,000 persons, mostly in the United States.
“As a result, numerous banking institutions throughout the state of Florida have closed accounts associated with Schuett,” the complaint says.

In addition to the bank accounts being frozen, he also had accounts with Wachovia, Shamrock, CNL, Fifth Third and Northern Trust Bank of Miami.
The complaint gives this account:

Overseas wire transfers of money went into accounts operated by Schuett, who then obtained large numbers of cashier’s checks, wrote business checks, and sent wire transfers to customers in the United States or Canada. Large amounts of money came from Bluetool Ltd., a British company, and International Payment Systems, a German company.

When one bank official asked Schuett if he was involved in gambling businesses, he denied it. Between Nov. 24 and Jan. 21, $2 million was transferred in and out of accounts operated by Schuett at Bank of Florida, Bank of Florida Southwest, and Bank of America. Most of it originated from Bluetool Ltd. through a German bank.
Between Aug. 13 and Dec. 1, Bluetool made 28 wire transfers totaling $7.3 million to bank accounts owned by Schuett’s companies.

“It appears online gambling companies are using Bluetool Ltd. as an intermediary to transfer funds to U.S.-based money transmitters in order to pay gambling winnings to U.S.-based online customers,” the complaint says, calling Schuett a money transmitter. “Online research suggests that many of the customers are online poker players.”

Four checks totaling $20,000.87 went to Corey Drury, whose Facebook account says he is a mid- to high-stakes card player employed by Absolute Poker, Full Tilt Poker, and Pokerstars.

Three totaling $15,000.43 went to Darren Elias, who is listed on various poker Web sites such as poketfives.com, bluffmagazine.com, cardplayer.com, and pokerpages.com. And four totaling $20,000.61 went to Derek Dubois, a poker player listed on bluffmagazine.com.

Meanwhile, Schuett’s Bank of America statements warned accounts couldn’t be used for illegal transactions, including unlawful Internet gambling.
From May 22 through Sept. 29, there were 27 incoming wire transfers totaling $2.17 million to a Fifth Third Bank account Schuett opened May 22 for IPS Corp. Most were from Bluetool Ltd. And 2,508 checks were written that withdrew $1.85 million from that account, which was closed Sept. 30, although Schuett had other accounts there.
From Oct. 1 through Nov. 4, MCM Capital Management Corp.’s Wachovia account received 15 incoming wire transfers from Bluetool that totaled $2.16 million.

A Wachovia bank officer questioned customers cashing checks issued by MCM Capital Management and three said they were winnings from Internet gambling poker gaming sites, while another customer refused to explain. When the officer questioned Schuett, he told her he services Bluetool by paying commissions to U.S. and Canadian citizens who use Bluetool’s Web site. The bank officer advised Schuett she believed he was operating an online gambling company.

“Schuett replied to the effect, ‘Well, it’s not like it’s illegal,’” the complaint reads.
When the officer informed him online gambling was illegal in the United States and that she was going to immediately close his account, he asked her to wait two weeks so he could settle them and transfer funds to Shamrock Bank, where he had an account.

When Schuett opened an account for South Naples Escrow Co., he told employees there it was for real estate transactions for German nationals buying property in Florida. Shamrock employees reported to federal investigators that the account was very active, but that activity wasn’t consistent with real estate transactions, which usually involve checks to title companies.

From Oct, 26 through Dec. 7, 23 wire transfers totaling $5.7 million came in to the account, while $2.22 million went out to Schuett’s companies. In addition, 20 checks totaling $3.66 million were issued, most to his companies.

A bank officer questioned him about the unusual activity, but Schuett maintained it was for real estate. On Dec. 2, a bank manager told him the account would be closed due to large activity. Bank of Florida Southwest also terminated an account in January due to suspected Internet gambling activity. Schuett told officials there he was an investment consultant.

Lips

Source:  marconews.com

[lipstick_xoxos]

Iowa maybe the first state to legalize online Poker.

Like many states in the US, Iowa is looking to shore up its statewide debt of over $400 million. And the Hawkeye state sees regulated poker as the perfect solution to its dilemma.

State representative Doug Struyk (R-Council Bluffs) is one of the main lawmakers who is pushing for regulated intrastate poker in Iowa. Struyk has cited the large number of online gamblers in Iowa as reasoning for why he thinks intrastate poker could be a major source of revenue for Iowa. Struyk said that more than 50,000 people gambling online in Iowa.

Struyk’s plan would allow Iowa residents to deposit money at state-run casinos, and then use that money to play games such as online texas hold em. There are 17 casinos in Iowa and the money deposited at these gambling establishments would enable the state’s residents to play poker against each other.

The Iowa Racing and Gaming Commission regulates all 17 casinos in Iowa, and they’re hoping to use online poker as a means of boosting their business. Estimates state that regulated online poker could bring in an extra $11.5 million to the state through gambling revenue.

Iowa gamblers are excited about the plan too since intrastate poker would give people a chance to play all of their favorite card games. Everything from limit texas holdem to Omaha would be offered to players over the Internet.

Chances are good that the intrastate poker bill could pass since Iowa has already proven to be a pioneer in the gambling industry before. Iowa was the first US state to legalize riverboat gambling. The state also opened its first casino in 1991 at a time when many other states were still deciding on the issue.

[blueday]

Thumbs up to Iowa then.  There's quite a lot going on at the mo.....

"Harrahs, IGC and Pokerstars invest in promoting the legalisation of online gambling

The McClatchy-Tribune Information service reports that an online gambling market estimated to be worth $20 billion globally this year continues to attract pro-online gambling investment in lobbying activities.

The service reports that according to mandatory disclosures, Harrah’s, the world’s largest casino operator, has spent more than $3 million in the past year to promote online gambling, and that the Vancouver-basedInteractive Gaming Council contributed at least $2.3 million to the pro-online betting effort.

In addition, PokerStars, the world’s largest online poker room, paid $300 000 through an intermediary to Representative Dick Gephardt, a former House Democratic leader and presidential aspirant from St. Louis who now runs a lucrative lobbying business.

Opposing online gambling legalisation are the professional sports leagues; apparently the National Football League alone paid a single lobbying firm $800 000 last year trying to derail Congressman Barney Frank’s federal legislative attempt to legalise and tax online gambling in the United States."


And the biggest shock of them all

"Local politician proposes the regulation of intrastate online gambling

Beating his federal political colleagues to the punch late last week, Florida Representative Joseph Abruzzo introduced a bill titled the Internet Poker Consumer Protection and Revenue Generation Act of 2010.

Florida has been examining the issue of online gambling, specifically poker, for some months as a state body prepared a report for the legislature, but Abruzzo appears to have taken the initiative in an attempt to get the ball rolling and short-circuit the implementation of the UIGEA regulations scheduled for June 1st this year.

Abruzzo's legislative proposal suggests a fully regulated system of online gambling in the state, relying on a provision in the Unlawful Internet Gambling Enforcement Act of 2006 that acknowledges and retains the right of individual states to legalise online gambling within their boundaries.

The new bill proposes strict regulatory measures with which operators will have to comply. These include rigorous licensing conditions and an application fee of $500 000 payable to the Pari-Mutuel Wagering Trust Fund of the Department of Business and Professional Regulations in Florida.

A $1 000 annual licence fee and tax provisions are also envisaged, along with strict operating requirements concerning vulnerable and underaged gamblers and precautions against the involvement of crime and the prevention of money laundering. Gamblers aged 21 years or over will only be accepted, and limits on time spent gambling and amount wagered are planned. The software used will have to be independently certified as fair.

Abruzzo proposes a tax rate of 20 percent on gross win, payable on a monthly basis by operators. "

[blueday]

Saturday, March 13 broadcast scheduled
 
Television network CTV W5 in Canada is to broadcast its take on Internet gambling in an early evening slot on Saturday March 13.
 
Titled 'The Jackpot', the show "delves into the world of online gambling, a story that takes viewers from the sandy shores of Caribbean tax haven Antigua, to Quebec's Kahnawake Reserve, the unlikely world capital of online gambling," according to the publicity blurb.
 
"Constantly proving itself as the most-relevant current affairs program in the country, W5 looks at how a small group of Mohawks of Kahnawake have created a gambling Mecca to rival Las Vegas and Monaco, while defying Canadian and American laws," the press material adds.
 
Almost inevitably, the high profile founder of the Bodog group, Calvin Ayre, is on the interview list of investigative reporter Victor Malarek.  Ayre is described in the publicity material as "...a one-time pig farmer who became a billionaire with Bodog.com, one of the world's leading online gambling sites."
 
W5 prides itself on delivering factual and comprehensive programmes and this latest offering claims to trace the roots of online gambling from the Mohawk Indians of the Kahnawake Reserve to a global industry worth billions of dollars a year.
 
CTV W5 specialises in investigative current affairs programs and has presented shows on everything from the used car business and criminal cases to health issues and bombings in northern Canada.

[john777]

Where to find poker related videos, news, learning books? How I download it?

[blueday]

Where to find poker related videos, news, learning books? How I download it?

Remove your signature link and I'll tell ya!

[blueday]

Treasury gave an assurance that the UIGEA regulations will not be further postponed

Online gambling's arch enemy, the Republican senator from Arizona Jon Kyl, apparently chose a potent and successful tactic to ensure the UIGEA regulations are not delayed beyond June 1st. His blocking of key US Treasury appointments during approval hearings resulted in an assurance from Secretary to the Treasury Tim Geithner that no further postponements of the controversial regulations would be permitted.

Congressman Barney Frank, a tireless campaigner for the regulation and taxing of online gambling in the United States, revealed details of the Kyl power-play this week in an interview with the publication Poker News.

"It appears the power play by Sen. Jon Kyl (R-Ariz.) in blocking President Obama's Treasury nominees from taking office worked, strong-arming Treasury Secretary Timothy Geithner," the publication reports, quoting Frank as saying: "Geithner promised he won't delay the bill again because Kyl was holding up all the nominees."

Kyl lifted his block in early February, apparently after getting what he wanted from Geithner.

Poker News reports that Frank isn't concerned about the development. He believes that, in the long run, UIGEA regulations going into effect will help to eradicate the flawed legislation rather than just delay it.

"It's fine with me," Frank said. "I think it's frankly so dumb and oppressive that it will create support to repeal the bill. I think, once it goes into effect, banks are going to raise hell and all the bankers will go to the Senate to complain."

Franks's own HR2267 bill seeking to regulate online gambling in the USA is currently supported by a bi-partisan group of 66 Washington DC politicians and is expected to be presented for mark-up soon.

[blueday]

Party Poker announced that the mystery man who uses the online handle Isildur1  will be taking his seat for their televised cash game, The Big Game IV.

This anonymous Swede has certainly got tongues wagging in the poker world as to his identity and he is likely to be wearing some sort of mask to cover his face during the televised event and protect his identity.

The high-stakes poker cash game will be filmed at the Les Ambassadeurs Club in London from April 11th to 13th.

[blueday]

British Model wins £1.1million poker tournament and proves she's not just a pretty face!

Liv Boeree, 25 has a degree in astrophysics and beat 1,240 other players to scoop the top prize of £1.1 million. In the final hand she showed a pair of 5's against Swede Jakob Carlsson's ace six.

Liv is only the third woman to win the EPT.  Her nick is "Iron Maiden" because she loves heavy metal music.  Her total winnings are £1.8million in just three years - but she still lives with her parents in Milstead, Kent.

She will now go on to contest the EPT grand final in Monte Carlo on Sunday.

Oh and guys - no point in dreaming of dating this gorgeous beauty, she has a fella already....US card ace Allie Prescott.