pokerplaya wrote:I haven't played in ages. Cashed out around the time they passed the law...actually I think I just lost and never cashed back in...
Same here. From the sounds of it, it isn't enforced very well. I guess I can get back into the game.
they really can't enforce it as all of these sites are based outside of the US.
nor can your banks do the policing themselves. its not up to them to enforce the law, its up to the goverment enforcing it, which is nearly impossible to do. i havent heard one story of someone getting in trouble playing online poker.
Old_Style wrote: Same here. From the sounds of it, it isn't enforced very well. I guess I can get back into the game.
they really can't enforce it as all of these sites are based outside of the US.
nor can your banks do the policing themselves. its not up to them to enforce the law, its up to the goverment enforcing it, which is nearly impossible to do. i havent heard one story of someone getting in trouble playing online poker.
i'm pretty sure even if you were to somehow get caught, its not actually illegal... from what i've read the law makes it illegal for the sites themselves to accept money from US players, not illegal for people themselves to play. since the sites are based outside the US, some of them just ignore the laws and people can play all they want. I'm not 100% positive this is correct but I wouldn't worry about any legal implications of playing.
GiantsFan14 wrote: i'm pretty sure even if you were to somehow get caught, its not actually illegal... from what i've read the law makes it illegal for the sites themselves to accept money from US players, not illegal for people themselves to play. since the sites are based outside the US, some of them just ignore the laws and people can play all they want. I'm not 100% positive this is correct but I wouldn't worry about any legal implications of playing.
technically, the banks or whatever method you use to deposit or withdrawl are not supposed to be allowed to do it. they are the ones the law is actually for (from how i entrepret it).
and to think. if it was just allowed and taxed (would seemingly would be a negative for poker players. you'd actually lose money if it was being taxed and you'd have to win out a pretty high margin to be profitable) we could probably have form of universal healthcare. i read something like the money could be in the billions.
pokerplaya wrote:I haven't played in ages. Cashed out around the time they passed the law...actually I think I just lost and never cashed back in...
Same here. From the sounds of it, it isn't enforced very well. I guess I can get back into the game.
they really can't enforce it as all of these sites are based outside of the US.
More on the lines of it isn't worth the legal battle. "Luck" based games are illegal, but poker is a game of skill. Makes for a very long court battle because regardless of who wins, the appeals are practically endless. That's the stand places like Pokerstars have taken, and what they will argue should they ever have to defend themselves.
Snakes Gould wrote:if it was just allowed and taxed (would seemingly would be a negative for poker players. you'd actually lose money if it was being taxed and you'd have to win out a pretty high margin to be profitable)
Huh?
One would still profit as normal, they'd just have to pay in taxes on those winnings (around 25%ish).
Yes doctor, I am sick. Sick of those who are spineless. Sick of those who feel self-entitled. Sick of those who are hypocrites. Yes doctor, an army is forming. Yes doctor, there will be a war. Yes doctor, there will be blood.....
Snakes Gould wrote:if it was just allowed and taxed (would seemingly would be a negative for poker players. you'd actually lose money if it was being taxed and you'd have to win out a pretty high margin to be profitable)
Huh?
One would still profit as normal, they'd just have to pay in taxes on those winnings (around 25%ish).
then you would lose 25 % of your winnings, wouldnt you? i consider profit to be the money i am depositing into my bank account from the site. not what i win from the tables before uncle sam takes a huge chunk.
Snakes Gould wrote:if it was just allowed and taxed (would seemingly would be a negative for poker players. you'd actually lose money if it was being taxed and you'd have to win out a pretty high margin to be profitable)
Huh?
One would still profit as normal, they'd just have to pay in taxes on those winnings (around 25%ish).
then you would lose 25 % of your winnings, wouldnt you? i consider profit to be the money i am depositing into my bank account from the site. not what i win from the tables before uncle sam takes a huge chunk.
i'm pretty sure you would pay 25% of whatever you won, not just what you withdrew and deposited into a bank.
One would still profit as normal, they'd just have to pay in taxes on those winnings (around 25%ish).
then you would lose 25 % of your winnings, wouldnt you? i consider profit to be the money i am depositing into my bank account from the site. not what i win from the tables before uncle sam takes a huge chunk.
i'm pretty sure you would pay 25% of whatever you won, not just what you withdrew and deposited into a bank.
so everytime you got up off the table, they take the 25 % then? that would be even worse!
Snakes Gould wrote: then you would lose 25 % of your winnings, wouldnt you? i consider profit to be the money i am depositing into my bank account from the site. not what i win from the tables before uncle sam takes a huge chunk.
i'm pretty sure you would pay 25% of whatever you won, not just what you withdrew and deposited into a bank.
so everytime you got up off the table, they take the 25 % then? that would be even worse!
no, i mean you would most likely pay quarterly taxes on how much your total profit is in each period.
Snakes Gould wrote:if it was just allowed and taxed (would seemingly would be a negative for poker players. you'd actually lose money if it was being taxed and you'd have to win out a pretty high margin to be profitable)
Huh?
One would still profit as normal, they'd just have to pay in taxes on those winnings (around 25%ish).
then you would lose 25 % of your winnings, wouldnt you? i consider profit to be the money i am depositing into my bank account from the site. not what i win from the tables before uncle sam takes a huge chunk.
Correct. You'd pay quarterly taxes on whatever you withdrew from the site. Even at a 25-30% clip for taxes, that doesn't make you "lose money" or make you have to "win out a pretty high margin to be profitable". That's the part that confused me because it doesn't make any sense.
Yes doctor, I am sick. Sick of those who are spineless. Sick of those who feel self-entitled. Sick of those who are hypocrites. Yes doctor, an army is forming. Yes doctor, there will be a war. Yes doctor, there will be blood.....
I like Full Tilt better than Poker Stars for a couple of reasons. While I do like that on Stars you can use your points for products (e.g., IPod for 17,500 points), Full Tilt lets you use them on regular Sit N Go's in which you can win cash or tournament tokens (which you can use anytime, unlike the satellites on Stars). More importantly though, Full Tilt allows you to get rakeback. Go here, sign up, and then sign up for one of the sites through TITN, and get somewhere in the range of 30% of your rake back for free. There's no reason to play anywhere without rakeback. They offer FT, Absolute, Bodog, Cake, Ultimate Bet, and many others. The last time I checked, they did not factor in bonuses when giving rakeback, which is even better. And if you do sign up there, feel free to use my referral code (or not). When asked who referred you, all you have to do is type in JRM.
Oh, and the last time I deposited, I used my regular bank card. Withdrawals are unfortunately easiest by check.
________________
One man with courage makes a majority.
Andrew Jackson