So NOW Where Should You Keep Your Money Offshore?

Number_9 · Jan 16, 2007

Three weeks ago I asked this forum where I should keep my money offshore, with safety being the first priority and liquidity being the second. Not surprisingly the top two choices in a landslide were Pinnacle and Neteller.

My how things have changed in just three little weeks. Given what we know this afternoon (which I realize isn't much regarding Neteller) I resubmit the question to you guys:

I'm a U.S. Citizen
I'd like to keep at least $10,000.00 offshore
Safety #1 Priority
Liquidity #2 Priority

Where should I keep my money? Alot of us are in this same (sinking?) boat. What are your plans? Thanks in advance.

:toast:

-#9

ICALL · Jan 16, 2007

I would think a foreign bank. Carribean or Canadian. If its over 10k, don't forget to file with the treasury by June 30th(If it was over 10k at any point in 2006)

http://www.onlinepokerfaq.com/guide/tax-fbar-90221.html

mike0187 · Jan 16, 2007

I'm working on getting mine out of Neteller and into BetCris and 5dimes today. Also have a big chunk in Matchbook and I believe it is safe there. Also some in BetTrojan...

mj23 · Jan 16, 2007

Under your pillow.

fucnluc · Jan 16, 2007

Hahahahahaha...

This forum failed you. We apologize. Reading some of those comments are hilarious in hindsight.

Who woulda thunk it.

wolfie_cr · Jan 16, 2007

well if it was me I would put them in an offshore account that provides a debit card (I mean a real bank not an ewallet) and from where I can send wires in/out to wherever I want

but since most readers are US citizens.....nasty reporting issues arise in the tax fillings.............so I supose that is not something everyone would do

btw on top of the Carribean / Canadian you could add banks in the British Channel Islands (Isle of Man, Jersey, Guernsey) ...your money there is REALLY safe

wilheim · Jan 16, 2007

Number 9.

Safety should be your #1 priority, you should select perhaps three or four books that in your mind are the safest amoung the large group now operating Offshore to spread your bankroll around in. I would seriously consider maintaining a balance that is not anywhere near excesssive, even consider keeping less money on deposit than normal until the overall situation becomes clearer. You have to do your own due diligence as to which books you want to spread your funds around in. One man's top tier is another man's kind of risky so do your own homework, pay attention to what some of the more respected veteran posters have to say about particular books and natrually use your own experience as a guide.

Head moderator or not I feel now is the time for all players to excercise some serious caution and please do not risk more than you can afford to lose something we should all practice under any circumstances.

Try to find reputable books that allow book to book transfers in case you get top heavy at one of them and low at another then you don't actually have to move real money, simply move your figure from book to book to suit your needs.

Bottom line is if I am living in the states I am still going to bet, but definitely use my head while doing so.

Can I tell you which book is safer than the next - no. I really feel we all need to perform our own due deligence and make that decision individually.

Best of luck, wil.

dankhank · Jan 16, 2007

pokerstars strikes me as safer than any sportsbook atm

Fishhead · Jan 16, 2007

dankhank said:
pokerstars strikes me as safer than any sportsbook atm

WHY

WHY ??

patswin · Jan 16, 2007

wilheim said:
Safety should be your #1 priority, you should select perhaps three or four books that in your mind are the safest amoung the large group now operating Offshore to spread your bankroll around in. I would seriously consider maintaining a balance that is not anywhere near excesssive, even consider keeping less money on deposit than normal until the overall situation becomes clearer. You have to do your own due diligence as to which books you want to spread your funds around in. One man's top tier is another man's kind of risky so do your own homework, pay attention to what some of the more respected veteran posters have to say about particular books and natrually use your own experience as a guide.

Head moderator or not I feel now is the time for all players to excercise some serious caution and please do not risk more than you can afford to lose something we should all practice under any circumstances.

Try to find reputable books that allow book to book transfers in case you get top heavy at one of them and low at another then you don't actually have to move real money, simply move your figure from book to book to suit your needs.

Bottom line is if I am living in the states I am still going to bet, but definitely use my head while doing so.

Can I tell you which book is safer than the next - no. I really feel we all need to perform our own due deligence and make that decision individually.

Best of luck, wil.

good advice wil, good advice............:toast:

Number_9 · Jan 17, 2007

wilheim said:
Safety should be your #1 priority, you should select perhaps three or four books that in your mind are the safest amoung the large group now operating Offshore to spread your bankroll around in. I would seriously consider maintaining a balance that is not anywhere near excesssive, even consider keeping less money on deposit than normal until the overall situation becomes clearer. You have to do your own due diligence as to which books you want to spread your funds around in. One man's top tier is another man's kind of risky so do your own homework, pay attention to what some of the more respected veteran posters have to say about particular books and natrually use your own experience as a guide.

Head moderator or not I feel now is the time for all players to excercise some serious caution and please do not risk more than you can afford to lose something we should all practice under any circumstances.

Try to find reputable books that allow book to book transfers in case you get top heavy at one of them and low at another then you don't actually have to move real money, simply move your figure from book to book to suit your needs.

Bottom line is if I am living in the states I am still going to bet, but definitely use my head while doing so.

Can I tell you which book is safer than the next - no. I really feel we all need to perform our own due deligence and make that decision individually.

Best of luck, wil.

Thank you Wil. Your opinion means alot and this was a substantial reply. I think we're all going to have to tread very lightly and help each other out these next few months. The traditional post-Super Bowl panic is what really worries me. The atmosphere will be 10X worse this year.

:smoker2:

-#9

Number_9 · Jan 17, 2007

Thanks to EVERYONE for their votes and replies so far. I feel a little safer and smarter having read them. Any more?

So NOW Where Should You Keep Your Money Offshore?

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