Online Poker Forum at Full Tilt Poker

Gypsydc

Oct. 13, 2006

President Bush today signed the port security bill that also includes legislation to limit the ways online poker fans can deposit money into their favorite accounts.

The official name of the bill is the Safe Accountability for Every Port Act of 2006. On the last Friday in September, Senate Majority Leader Bill Frist worked into the night to get the Unlawful Internet Gambling Enforcement Act (UIGE) attached to the port act. Congress passed the act nearly unanimously in the last vote before an extended election-year recess.

Earlier that week, Frist tried to get the UIGE attached to a major defense spending bill, but both Republican and Democrats spoke out against this action because of the importance of the defense spending bill.

Several online sites, including PartyPoker and 888.com, said they will stop allowing real-money players located in America to play on its sites after Bush signed the bill.

Other sites, like PokerStars, Absolute Poker, Bodog, and Full Tilt, said they will still do business with Americans in the US even after Bush signed the bill into law.

A Comprehensive Analysis of the Internet Gambling Prohibition Act:

http://www.cardplayer.com/magazine/article/15416
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Full Tilt Poker released the following letter in response:

October 2, 2006

As many people are well aware, the United States Congress recently passed legislation that aims to make it illegal for U.S. banks to process transactions related to online gaming.

We, like all online poker players, are dismayed and saddened by these potential regulations, and are doing our best to determine what these changes will mean to our customers. We are continuing to study this legislation and, until our investigation is complete, believe it would be wrong to comment on how these new rules will impact the ability for players to transfer funds to and from Full Tilt Poker.

In the short term, we assure you that your online experience at Full Tilt Poker will not change. You will still be able to deposit and withdraw money from the site using the same methods and payment processors you have always used, and your money will remain completely safe and secure. We cannot predict how the online poker experience may change in the future, but we do not expect any immediate impact from the legislation, as the banking industry has 270 days to implement new rules after the bill is signed.

It is also important to note that, once signed, the new legislation will not criminalize individuals for playing poker online. Instead, the bill will eventually attempt to prevent the transfer of funds to online gaming. As poker is a game of skill rather than pure chance, we hope that it will not be affected by this new bill. Speculation aside, however, we will continue to work closely with organizations like the Poker Player's Alliance to lobby for an exemption for online poker and for your right to play a truly American game from the privacy of your own home and computer.

While this last-minute congressional move has undoubtedly caused concern among our players, we want to assure you that Full Tilt Poker is legally regulated and licensed to offer its services to anyone around the world and that your day-to-day experience at the site will remain unchanged in all respects.

-Full Tilt Poker
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Finally, the latest news:

March 15, 2007

WASHINGTON (Reuters) - Rep. Barney Frank (news, bio, voting record) said on Thursday he will give details in the coming weeks on possible legislation to repeal a ban imposed last year on online gambling.

In an interview, the chairman of the House of Representatives Financial Services Committee said he is in no hurry and plans to consult with others on the matter.

"I'm not ready to give you more details, but I will be by next week or so. We'll talk more about it later. There's no urgency on it," he said.

Internet gambling in the United States was effectively banned last October when President George W. Bush signed legislation outlawing gaming financial transactions.

A spokesman for the Massachusetts Democrat said on Wednesday Frank was considering legislation to repeal the ban but had not drafted a bill and had no timetable for action.

The ban has hammered the stocks of online gambling companies such as Britain's PartyGaming Plc.

PartyGaming shares jumped sharply on Frank's remark on Wednesday but gave back gains on Thursday to close down almost 5 percent at 40-3/4 pence on the London Stock Exchange.

U.S. prosecutors have launched a probe into Internet gambling. The U.S. Department of Justice has demanded information from some of the world's biggest investment banks as part of the investigation, according to banking sources.

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