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November 21, 2005
60 Minutes
I did watch the 60 minutes report last night after reading comments here and downloading it on mininova. Rather humorous. Not very educational, other than to point out what a dufus Jon Kyl is. “I know, we’ll make it so that people can’t use credit cards at online poker sites. That’ll stop ‘em”. Hello, McKyl. Have you ever tried to use a credit card at an online casino? It already doesn’t work because credit card companies don’t want anything to do with them. Everyone funds through intermediaries such as Neteller which are based in another country and are unaffected by our laws. As far as I can tell the Kyl bill might, at most, effect a miniscule drop in online gambling, which won’t even be noticed when taken out of the astronomical growth rates.
Also I like how they said “Paradise Poker seemed to recognize this kid was a minor”. Bahahahahaha. Do your homework lady. They pop those same messages up to everyone. The only reason they rejected him and Golden Palace didn’t is that Golden Palace is sophisticated enough to accept credit cards. Paradise isn’t.
Also I like how they repeatedly said “the government says online gambling is illegal”. That is true, the Department of Justice does say that. However saying it doesn’t make it so, even if it’s the DoJ doing the talking, and they’ve yet to provide any substantial evidence for their claim. Most legal scholars believe that the Wire Act doesn’t apply at all, and that it is actually perfectly legal. I guess that doesn’t fit in with their “illegal but thriving” theme though. “Online gambling: (The DoJ says) it’s illegal (but it really isn’t and nobody has ever been prosecuted for it) but thriving”. Just doesn’t have that 60 minutes ring to it.
Posted by themaroon at November 21, 2005 5:07 PM
Comments
My neteller account got closed last month after about 2 years of constant activity, and more instacash fees than I'd like to remember.... all because I moved to Maryland. Neteller isn't allowed to do business with customers in Maryland. I don't know what the state did to make this happen (any input from anyone would be appreciative) but if it can happen here, it can happen elsewhere as well.
So Neteller isn't totally unaffected by our laws simply by being from overseas.
Posted by: andy at November 21, 2005 9:23 PM
Oh, I use my cc to fund paradise (have done it for the past month), but... I was absolutely shocked that it worked. But it's worked a few times the past month when I logon and want to do a $200 tourney or whatnot.
Posted by: andy at November 21, 2005 9:28 PM
[I started following Matt’s Play Poker, Live Large plan in September, 2005. With Matt’s permission, I’m posting updates on my progress.]
Play Poker, Live Large: The Future?!
After I’ve finished each post, I like to think a little bit about what I’m going to post next and describe it in a couple of words. In my last post I said that this post was going to be about “The Future.” I figured that I would write about my performance in 0.5/1 (I’m beating it for 1 BB/hr over 200+ hours…wooot!), when I planned to move up to 1/2, etc.
But….today I got fired! LOL. My plan had originally been to move up to 3/6 over a period of a year or more and then four table 3/6 for a living. Now it looks like I’ll have to speed up the plan…I haven’t checked what unemployment looks like but I’m sure it ain’t pretty. LOL. If I get a seasonal job over the holidays that will help.
In any case, I’ve been doing well enough at 0.5/1 that I think I’ll be able to move up to 1/2 by the end of December.
Up next: The Psychology of Success (LOL!)
Posted by: Paul at November 22, 2005 3:52 PM
The more times you say something is illegle the more people will believe it. It's a ploy they use . . . .I think it's a government thing, say something enough times and people believe it.
It was a fluff piece.
I think the best reason to NOT regulate online gambling is "Because it's bad for you". LOL
Posted by: Grinder at November 23, 2005 2:12 PM
"Saying [online gambling is illegal] doesn't make it so, even if it's the DoJ doing the talking, and they've yet to provide any substantial evidence for their claim. Most legal scholars believe that the Wire Act doesn't apply at all, and that it is actually perfectly legal."
Here is a treatise on the subject that is quite thorough. Enjoy. http://tinyurl.com/cnpcw
Posted by: fun160 at November 24, 2005 7:32 PM