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TUESDAY, NOVEMBER 24, 2009
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8

Feds Freeze Online Poker Players' Winnings

Prosecutors deal blow to gamblers as crackdown begins

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(Newser) – Federal authorities have seized or frozen bank accounts holding $34 million belonging to online poker players in what appears to be the start of a crackdown, the Wall Street Journal reports. The accounts are managed by a company that handles payments for several popular online poker sites, and the cash belongs to some 27,000 winning players.

The government has gone after accounts involved in online sports betting before, but this is the first major action against online poker. Banks have been told that the cash constitutes "property involved in money laundering transactions and illegal gambling offenses."  The offshore casinos involved have said they will ensure the players receive their winnings, according to the chief of the Poker Players Alliance advocacy group. 

A
A "join now" button is displayed on a screen on an online gambling website.   (Getty Images)
Federal authorities say online gambling is against the law, but advocates say it's a gray area.
Federal authorities say online gambling is against the law, but advocates say it's a gray area.   (Shutter Stock)
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It’s very aggressive, and I think it’s a gamble on the part of the prosecutors. - Nelson Rose, a specialist on gambling law

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8 comments
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TerrifiedCitizen
Jun 10, 09 9:18 AM CDT
The governments have mismanaged their financial trusts. They now are desperately attempting to identify every possible source of federal income; unfortunately, that includes continuing to steal funds from their sick and elderly citizens. Reply
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+6
Observer
Jun 10, 09 9:19 AM CDT
This is BS. The Feds have once again acted as Gestapo Goons. Since when do they have the right to do this? I don't gamble online but support the player's rights to. To call offshore online gambling money laundering is a stretch. They tap the wires and know exactly what's happening here. There may be a few obvious criminals involved but most players are bored husbands seeking some action without resorting to illegal card games or driving to a casino. Why doesn't the Treasury Dept. go after the real criminals at AIG, Lehman and Citigroup that bring down national economies? Reply
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+7
TerrifiedCitizen
Jun 10, 09 9:23 AM CDT
Because the corporations contribute to political funds; they pay their protection money. Reply
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+7
5580
Jun 10, 09 12:35 PM CDT
leht me tell you, those poker games are not kosher, there is someone controlling the outcome of those hands played. not all but certain players. Reply
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-2
IN RESPONSE:
Zorro
Jun 10, 09 1:29 PM CDT
Similar to live poker rooms, cheating occurs - regulation in the online world would require audits and monitoring programs that would make cheating (by the house or the players) more difficult than it is in the offline world. Similar to insider trading - it definitely occurs, but what regulations are in place to prevent it.
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