- This topic is empty.
-
Posts
-
casinobonusguy wrote:I think we have to be realistic and realise all these ewallet people have a mental image of the neteller guys being led off in handcuffs and dont want to be next.I am surprised their legal departmnet let it go on this long.Anyone who handles the money associated with the US market is running risk of getting into Legal trouble down the road.
Thanks for writing this so clearly.. I believe we all needed that, and i am very serious.
No one, whether it’s a big respectable company or a small business would like to take the risk of being targeted by the US law enforcement agancies. Especially currently active payment processors which such situation might hurt their business in any aspect whether it’s now or in the future. This is very undestandable.. Wouldn’t you do the same if you were in their shoes?
casinobonusguy wrote:Ignorance does not get you off with the law.I will predict by summer there will be NO US market at all except for those who will pay high western union fees and even then when you are talking about moving around alot of money ,the solution will not last forever. Western union also reports large amounts of money trails to DOJ.
As much as we would all love access to that market again I dont see it happening.My own lawyer here in Canada is telling me to put a disclaimer on my website about the US Legal Position .He doesnt like seeing the ‘us player’ section on my website lol.Unfortunately, I’m afraid you are right.
The current situation is not a normal situation.. Neteller and the other processors which are no longer useable for US players have created an enormous potential to earn a lot of money to the one(s) who can and will fill the empty space that was created.Why isn’t the current situation normal?
under “normal” circumstances, when there’s a possibility to earn a lot of money and quite easily (there are no competitors, remember?) WHAT HAPPENS? “CRIME” is created. We all heard about robbery, breaking in, theft etc. Right?Well, Don’t get me wrong!! I’m not talking about this kind of crime!!
What i am trying to say is that the tempt of creating an established and a very profitable payment processor is now more tempting than ever.. It’s an industry of BILLIONS of dollars every year WITH NO COMPETITION.This situation is like a greenhouse for a vegetable in winter.. This is the most tempting opportunity to commit a “crime”.
What do i mean?
There are enough countries and jurisdictions for one to establish a new payment processor and commit the “crime” without caring about the US law. I am sure there are many who look into this right now and racing the clock to be the first to fill the empty space. These people don’t care about committing this “crime” as this is a crime only in the US.It’s not easy, It’s far more complicated than we know as you must have as many banks and as many other financial institutes such as credit card companies willing to work with your new business. Respectable institutions will not hurry to join the venture
It also takes a long time to get approved/licensed/certified and to set up all the back office.. it’s a long process.
Will a new payment processor eventually rise?
Just remember:
An open door may tempt the saint, opportunity makes the thief!I’d be willing to go through, for example, Iranian banks if that’s where this space is filled.
owldeath2 wrote:I’d be willing to go through, for example, Iranian banks if that’s where this space is filled.Isn’t there an embargo already or an about to be appled one in the very near future?
Iran sounds like a choice that will scare away any other institute
owldeath2 wrote:I’d be willing to go through, for example, Iranian banks if that’s where this space is filled.That’s easy to say until the bank runs off with your money and you have no way to get to them. I am sure the people in Nigeria will accept western unions for us.
I can understand the casinos who have left usa Markets , they have to weigh the risk with benefits .All these chargebacks we have heard about lately is why. I am sure there are alot of AMERICANS using this law as excuse not to pay the credit card bills ,thats the sad reality .We are here fighting to keep the market alive yet we all know alot of these players are a big risk .
I cant say I would do things any differently if it was my business to run.And I dont expect a casino to give their last dollar out to an affiliate either.I am sure they are going through the books ,taking care of Employee wages and the electric bill then seeing what is left over after their ewaller money was blocked and the banks have done their reversals .
We cant be blind or stupid to realise that most if not all casinos and US (Affiliates)have lost 50 – 75% of the income we are use to .Sure they will not admit they are weak and having financial problems , if they do then we will not promote them.OFcourse the payments are late , we are into the second month of no neteller now and no replacement .The life is being choked out of the money flow from and to USA .The banks are onto us and all our plan ‘B’ .
I would love to post a solution but I am just here with two eyes wide open and 20 years + experience in banking and finance.We can get away with things a little while but it will not take long before all the tricks we pull out will be caught.Bank of America even handles the US transfers into canada for gods sake.They are the clearing center for 80% of Canada’s us money so it will not be long before whimps like scotiabank bow to the presure too .That is for another DAY though lol .
It’s true, many casinos suddenly started to respect the US law and left the US market. Many of us wondered even about Microgaming which still accepts US players except for the 11 states. After all, Microgaming didn’t bother to respect the US law before and accepted players and wagers from the 11 states while knowing it’s against the law.
hmmm… Microgaming and RTG are the ones i would expect to see as the firsts to support a new payment processor. Who knows, maybe they do this exact same thing while i type this lines.
When a lot of money is involved.. you will look hard for any loophole or any other way that will enable you to get this money.. Isn’t that what accountants do for a living?
When there’s a will, there’s always a way. Look hard enough and long enough and you will find it.
I said before and will say again , if a processor comes out of here and survives it will be in Kahnawake Indian reserve in Canada . Their native rights are protected in Canada and they argue that gambling is in their blood LOL.But one thing i do know is the country respects their land rights and right to have their own policing etc.There is no way the canadian government would go against them and support the USA.BUT we still cant figure how to get the money off the reserve lol.
GOD BLESS the Kahnawake Indian reserve in Canada !!
Only 10 k from Montreal to buy my Cheap Smokes :colgate:It seems that ePassporte is leaving the ‘casino’ games market like (Blackjack, Roulette, etc) but staying in the poker market. It was confirmed with manager there…however in my opinion it is just a matter of time before they fully leave.
Microgaming all ready had a payment processor. They own payspark (ezypay)
Quote:BUT we still cant figure how to get the money off the reserve lol.Old standbys are always good…carrier pigeon for within the continent.
Got this email from SBN:
From : Casino Manager
To :
Subject : Important News Flash – New Credit Card Option Opens| | Junk E-Mail | Inbox
WWWcard is a virtual prepaid card which enables you to make secure and anonymous payments for products and services over the Internet, wherever Visa Credit & Debit cards are accepted.
Your WWWcard will allow you fund your player immediately, without using your regular credit card.
Apply for and receive a WWWcard directly on this website http://www.www-card.com in 3 simple steps:
Step 1 – Provide the details of a valid Visa credit or debit card – the WWWcard site has a strict security policy to protect your card details.
Step 2 – Select currency and load amount of up to approximately US $220
Step 3 – In just several seconds, your new prepaid WWWcard is ready for use! The following details of your virtual WWWcard will be displayed on your screen: WWWcard number, expiration date and 3 digit security code. Get a WWWcard
To use your WWWcard at any SBN site:
Simply go to Fund account tab at your favourite SBN site and follow these directions
Choose a deposit amount on the Visa symbol
Go ahead and register the WWW card details as a new credit card. REMEMBER to enter the State/Province as “outside the US or Canada” and choose the country as United Kingdom, NOT United States.
When the balance on your WWWcard is depleted – simply purchase another WWWcard.SBN Where The World Comes To Play
