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Buyer beware to all interested in Poker/Gambling Websites

Discussion in 'General Business' started by checksum, Oct 2, 2006.

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  1. #1
    checksum, Oct 2, 2006 IP
  2. tony84

    tony84 Well-Known Member

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    #2
    Im no expert, far from it, but im sure there will be sites based in the UK or countries other than the US that will accept US credit cards.
     
    tony84, Oct 2, 2006 IP
  3. libertygone

    libertygone Active Member

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    #3
    thats crazy!! thats a hugeeeeeee thing
     
    libertygone, Oct 2, 2006 IP
  4. checksum

    checksum Notable Member

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    #4
    The problem is that the US is illegalizing credit card/banking use for the purpose of online gambling, so unless you have a bank account in another country you're pretty much barred from gambling online. Profits are bound to drop a lot.
     
    checksum, Oct 2, 2006 IP
  5. surfy.com

    surfy.com Active Member

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    #5
    On average, many gambling sites were pulling 50% of their income from US buyers. Affiliate programs would seem to be the same. Certainly, niches exist and the market is still large wihtout the US. But it is a good call to beware.
     
    surfy.com, Oct 2, 2006 IP
  6. Nonny

    Nonny Notable Member

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    #6
    The new law would make it illegal for US banks or credit card companies to pay those sites. The bottom line seems to be that you should not make an online poker site if you expect or desire a large portion of your revenue to come from US sources.

    http://money.cnn.com/2006/10/02/news/international/gaming_congress.reut/
     
    Nonny, Oct 2, 2006 IP
  7. robf

    robf Guest

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    #7
    I recommend every poker/gambling webmaster to sell their sites now... very cheap.. to me.. *hypnotizing*
     
    robf, Oct 2, 2006 IP
  8. suprastan

    suprastan Well-Known Member

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    #8
    The law will make every gambling site loose all of the US visitors. No one in the US can gamble online. (Even off shore sites)
     
    suprastan, Oct 2, 2006 IP
  9. hsnetwork

    hsnetwork Active Member

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    #9
    Cayman Islands anyone? It still has to be signed by GWB, and even then who knows how long it will take to impliment.
     
    hsnetwork, Oct 2, 2006 IP
  10. aufordboy

    aufordboy Well-Known Member

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    #10
    I personally think people will find a way around this law. Most US credit cards have been prohibiting gambling transactions already - that is why all the online casinos accept payments such as neteller, moneybookers, etc.
     
    aufordboy, Oct 2, 2006 IP
  11. chimaera

    chimaera Peon

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    #11
    PartyGaming.com lost 60% of its value today ... and I think 888.com something similar.

    This is insane. The US is insane. Bush is insane.
     
    chimaera, Oct 2, 2006 IP
  12. zooz

    zooz Active Member

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    #12
    gambling companies share prices plunged today in the London stock market. some companies lost 20%, 30% and even 65% in one day.
     
    zooz, Oct 2, 2006 IP
  13. aufordboy

    aufordboy Well-Known Member

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    #13
    Yea this is terrible for these companies. I think they will rebound somewhat but as of right now all of these companies' stocks are simply going down the shitter
     
    aufordboy, Oct 2, 2006 IP
  14. venturefox

    venturefox Notable Member

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    #14
    Isnt it a multi billion (or trillion) dollar industry? What the hell is the difference between gambling online and going to Las Vegas? Oh well, nothing surprises me anymore.. from the US or the UK.
     
    venturefox, Oct 2, 2006 IP
  15. PokerDIY

    PokerDIY Well-Known Member

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    #15
    I am personally hoping this will be a boost for live poker games...
     
    PokerDIY, Oct 2, 2006 IP
  16. Nonny

    Nonny Notable Member

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    #16
    The casinos in Nevada pay $$$ in taxes and have a crack team of lobbyists. Offshore casinos presumably pay no US state or federal taxes, and probably have a harder time getting legislators to listen to them.
     
    Nonny, Oct 2, 2006 IP
  17. keliix06

    keliix06 Active Member

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    #17
    US banks won't be able to send money directly to gambling operations, but nothing is stopping a PayPal type operation in a different country from taking the payment and sending it to the gambling operation. They won't be able to stop it, but it will become more difficult.
     
    keliix06, Oct 2, 2006 IP
  18. DomainMagnate

    DomainMagnate Illustrious Member

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    #18
    Paypal won't accept money for gambling either, but egold and neteller will
     
    DomainMagnate, Oct 2, 2006 IP
  19. Nonny

    Nonny Notable Member

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    #19
    Nonny, Oct 2, 2006 IP
  20. DomainMagnate

    DomainMagnate Illustrious Member

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    #20
    DomainMagnate, Oct 2, 2006 IP
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