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2010 was a banner year for the US Federal Government and the Department of Justice who confiscated hundreds of millions of dollars from online payment processors & gambling site owner/operators like BetonSports and most recently payment processor EwalletXpress.
Week after week, we have been reporting about online payment processors being seized by the Federal Government in the US and time after time, it was for huge amounts of money, all of which came from online poker players. In fact, every single dime that is seized through a payment processor is player’s money. The gambling sites and banks are not the ones losing money in these seizures because the cash that is being seized is “winnings” not deposits.
Payment processors handle payments to players once they cash out winnings, so when a processor has their accounts frozen by the Feds, all that cash sitting in those accounts should be going to the players but instead the government takes the funds and does what with it? They don’t give it back to the players (not yet anyways), and by the way, shouldn’t they, because playing poker online in the US is still NOT illegal. So there is no reason that these players should have their money stolen from them. It’s the banks that process these winnings that are operating illegally and they should be the ones bearing the brunt of the DOJ’s ire.
Read entire article here.
Week after week, we have been reporting about online payment processors being seized by the Federal Government in the US and time after time, it was for huge amounts of money, all of which came from online poker players. In fact, every single dime that is seized through a payment processor is player’s money. The gambling sites and banks are not the ones losing money in these seizures because the cash that is being seized is “winnings” not deposits.
Payment processors handle payments to players once they cash out winnings, so when a processor has their accounts frozen by the Feds, all that cash sitting in those accounts should be going to the players but instead the government takes the funds and does what with it? They don’t give it back to the players (not yet anyways), and by the way, shouldn’t they, because playing poker online in the US is still NOT illegal. So there is no reason that these players should have their money stolen from them. It’s the banks that process these winnings that are operating illegally and they should be the ones bearing the brunt of the DOJ’s ire.
Read entire article here.
