Tuesday, April 19, 2011
Internet poker US cashout problem solved with overseas cash payouts?
Say Pokerstars had a cash window (like a racetrack) in England where you could travel to to pick up your payouts. Sounds perfectly legal for you to pick up your own payout outside the US. Matter of fact you could pick up a Pokerstars money order in England and cash it in in the English bank it was drawn or check cashing store (if they have such) -- and reconvert the cash into a money order to send to yourself in the US. No foreign bank account needed -- just you in person. No gambling enterprise would be sending a financial instrument to a US bank -- that is all the law prohibits AFAIK.
NEXT STEP: Say a player's personal rep goes and does the same thing for him: same legal payout process. Or, suppose, instead, some smart cookie opens a business in the US where they charge players (plural) a fee to travel to Pokerstars cash payougt window in England -- or just as legally open the same business in England to act as player pickup rep -- to pick up our winnings in cash for us -- not working for Pokerstars; working for us -- and then send checks or money orders to us in the US. No gambling enterprise would be sending a financial instrument to a US bank -- that is all the law prohibits AFAIK.
NEXT STEP: Say Pokerstars sends cash to US players. When I worked as a truckers helper for a Wall Street Bank in the early 1970s we took tons of mail to the Post Office some of which was registered mail containing cash going to South America. I was told that Registered mail must to be signed for by every person whose hands it passes through all the way to the recipient. Pokerstars could send small to medium payouts by registered mail right now. Really large deliveries could be done by armed insured messenger (you might want to make an appointment to meet the messenger in a bank). No gambling enterprise would be sending a financial instrument to a US bank -- that is all the law prohibits AFAIK.
Problem solved? I hope this looks as good in the morning as it does at 4AM. :-)
[PS. See the following legal essay on the unlikelihood of anyone ever standing trial -- not talking about copping out either: http://www.gamblingandthelaw.com/blog/299-federal-poker-indictments-revisiting-prohibition.html]