Sean, others- A few questions abot the bill....

First off I am have read and I am not exaggeratting(sp) 25 threads cocerning this and it seems like this just confuses me more and it changes by the hour.

So here are a few questions:
1) living in Michigan, can I go to Windsor and open a bank account there and come back here and bet? Can I have a Canadian bank account while working and living in the U.S.?

2) What about books that take horse racing? How does that change? Is that still ok?

Thanks your insight is much appreciatied and your enthusiasm is contaigous. Thanks

I am not a lawyer, so I can't give you all the legalities.

The lawyers I have spoken to do not believe the bill criminilizes betting. I don't either, but obviously, we never know. I will take my odds out of 40M Americans that I am not the first arrested.

You can legally have a bank account in any country that will issue you one. You must check off that you have one on your 1040. If you are concerned about being audited, just include a copy of your statements with your 1040...

Caribbean bank accounts are very secretive and expensive (Like $2000 to open)

Canadian ones are not as secretive - if the US supoenoed them, they would likely give them, but who cares, I'll give them a copy.

The UK seems to be more secretive - especially since they are pissed.

I called Bank of Montreal. They told me I could open an account if I came there, but she sounded not too sure about details. I don't know if there is a branch in windsor.

You can open a bank at royal bank or something like that - I posted a link in another thread. You can even us a US address, but why...

HSBC.ca seems to take US citizens (They are out of hong kong)

Barclays out of Scotland takes US citizens. Not sure if you have to go there.

I am still searching for a foreign bank online where you can open accounts like Citibank here (Without ever leaving the couch)

Neteller told me if I "move" and open a foreign bank account, I can simply open a new neteller account and move my money over.

I don't think horses at books matter - the law specifically exempts horse racing sites in the US - what a joke.

Bottom line is all of this is a back up. I don't think Neteller folds, but if they do and moving money gets tough, since this is important to me, I wanted to know my options and now I know.

For now, I am not changing anything. If Neteller starts folding to the US, I will seek another bank outside the US...

Regarding Windsor - get on switchboard and call some banks and ask.. I love Windsor by the way.

Regarding the law, it is completely unenforceable. They set aside $10M to make the law, teach how to enforce it, change the banking system, etc and they left a nice carve out that banks can simply say we can't do this... If they had $100B they might weed out 75% of transactions. $10M won't be enough to teach one bank.

Likewise, even say they teach BOA, there are 1000+ Franks dairy credit union. It'll be 20 years before anyone teaches Frank.


My plan of action is this - and I am not right or wrong on this - just my plan:

A. Not bringing any money I have at sportsbooks back home. It's football season damn it.
B. Moving money I have at public companies like VIP and Sportingbet to companies run by bookies like Trojan, Pinnacle, Olympic, WSEX, Cris, etc... I don't think sportingbet or VIP will screw you if they close off the US, but there could be delays.
C. Moving money out of questionable books. Small books that might not take a run on the bank are off my list for a few weeks.
D. I am not keeping much money in Neteller - would rather it in the books. Neteller won't screw you either, but there could be delays. I am only keeping money in neteller for minutes to move it. I'll take my chances that barring the US military heading down south, Calvin, Pinny, Mickey, Mike, Spiro, etc are not going to close up shop.
E. I won't change anything till I have a transaction blocked. At that point I will change banks. If another one gets blocked at a tiny bank, I will use international options.
F. I know my International banking options and how I can update my neteller account. This is a back up for now. The next time I am in Montreal or London, I will definitely open a few accounts to have just in case.
G. Capping games and placing bets as normal.
H. Paying my taxes!

Finally, when the WTO comes down harsh on the US, everything could change. It was one thing when Antigua sued, but sportingbet out of England is now looking into joining Antigua in the battle.

If the US wants Swift data and passenger lists, they may well take a hint...
-Sean




First off I am have read and I am not exaggeratting(sp) 25 threads cocerning this and it seems like this just confuses me more and it changes by the hour.

So here are a few questions:
1) living in Michigan, can I go to Windsor and open a bank account there and come back here and bet? Can I have a Canadian bank account while working and living in the U.S.?

2) What about books that take horse racing? How does that change? Is that still ok?

Thanks your insight is much appreciatied and your enthusiasm is contaigous. Thanks

Iceman, I presume it is not illegal to make an online bet in Michigan so I don't see any problem. Open an account in Windsor if you must and use that.

When I started online gambling most books did not take $CAN so I opened my accounts in $US. I also opened a US bank account in Washington State linked to my NETeller account, so as to avoid foreign exchange charges.

It is now illegal to gamble online in Washington State. I am not going to change anything until my transfers get blocked.

This is a very important thread. It's important that people share info on this.

BMO does have a branch in Windsor. You can go to BMO.com and check out all the various branches. Tons of them.

I emailed BMO today about detailed questions - they didn't answer. So, I'll have to call as well.

I also have the same strategy that others have. My backup is BMO if transactions are being blocked.

It would also be a good idea to get an account at a small, independent local bank. Big, nationwide banks have the most sophisticated systems and controls, and will be the first to block particular transactions if it indeed does come to that months from now.

Smaller, independent banks will be behind the curve with the technologies. So, to keep options open, a side checking account at a small, single outfit bank wouldn't hurt.

I am hoping that once a BMO account is opened in person, you can then just mail in your deposit checks - the checks that Pinnacle (or whomever) FedEx to you. Then, you could just mail it to the BMO and they would deposit it for you.

To withdraw back to cash from the BMO, a wire transfer from BMO to your US bank is certainly doable, but you could make semi-annual trips to Windsor to get cash withdrawals.

And, of course, report all of it It's the law.

I am also taking it on a day to day basis. Consolidate winter funds to books that you can trust. Have enough bankroll to get through the winter.

In time, do various tests with small withdrawal amounts until you find what works (if things get tightened up).

Someone said that Canada is also considering a similar law, so I'm not sure how long BMO would work. But, it would get us through another year at least. Probably longer if it works.

I am guessing that come 2007, there will be the next generation of Netellers if Neteller bows out the US market.

PInnacle, WSEX, the Greek, etc. will come up with something to cater to determined US players, I would imagine.

12thRound said:

Someone said that Canada is also considering a similar law, so I'm not sure how long BMO would work.

Click to expand...

That was total BS.

If you believe that perhaps I can interest you in some idyllic waterfront property near the Florida Keys. Then again there's this bridge in Brooklyn I've been trying to sell for a while. :missingte

I have no idea what is going on in Canada with their legislators, and I can't say I care. Just mentioned what some other Canadian resident said on another forum.

If it's not true, I'm glad to hear it.

Don't try to go into comedy. You're not all that funny.