The question now is will the books be able to send you back a check with your winnings. The government has surpised me so far with their ability to get to Neteller....what international banks will want to risk sending checks to US citizens from gaming entities with Uncle Sam threatening sanctions?
I really dont see how they can stop Cashiers Checks, or Money Orders, being sent back and forth via FED EX.....
I mean if I go to a post office and buy a money order, and then send it to betJamaica.... how is anyone gonna stop that?
When BetJamaica wants to pay me they pay me with a bank draft to my name.... Banks wont be able to refuse that? especially if the check does not indicate the nature of the business? Also, if you are really worried about the bank refusing it you can always cash it at a check cashing place, cant you?
Of course the disadvantage is you wont be able to move money around too fast, but other than that it seems fool proof?
I mean if I go to a post office and buy a money order, and then send it to betJamaica.... how is anyone gonna stop that?
When BetJamaica wants to pay me they pay me with a bank draft to my name.... Banks wont be able to refuse that? especially if the check does not indicate the nature of the business? Also, if you are really worried about the bank refusing it you can always cash it at a check cashing place, cant you?
Of course the disadvantage is you wont be able to move money around too fast, but other than that it seems fool proof?
I live in a small town and early on I used to get payouts from offshores via checks. I would take them to my bank and they looked at me like I was a scammer. I have never bounced a check or given the bank a bad check. Even after five or six of these checks, I still got the same treatment and they would put a hold on these for 5-10 business days, depending on the amount of the check. I stopped checks and went entirely with Neteller. I'd hate to have to start back trying to deposit those offshore checks again.
That's my line of thinking as well! Now, you mentioned "money order"... I still don't understand the difference between money order & cashier's check... I have used post office and food store's money orders in the past with super low fees (food store was 35 cents up to $300; post office like 90 cents up to $500; I remember simply buying 2 money orders for a $400 payment somwhere in the past which worked... only 70 cents for 2 money orders).SportSavant said:
Cashier's check made by banks are apparently for higher amounts but what is the difference between that and a money order, anyone know!? This question has nagged me in the last few days in light of everything going on...
* CalvinTy
I`ve always used FedX for w/d. Dep. used net a few times but not for a while, WU using their 800 # w/my CC worked pretty well. Next yr who knows? Of course I don`t move my $$ all the time like some, so speed is not a big issue w/me. With hedgers, middlers etc. I can see a problem.
Shell Companies issuing bank drafts I hope is the right answer. Savant...as I said you will always be able to deposit. I thought that Neteller would be ok because they are uncoded EFT's that are being sent back and forth and chasing down each and every one would have fallen to the banking industry which I believe would not have put forth the effort. I just hope that the govt does not find some way to punish banks that they find sending Cashier Checks to US citizens because if they catch one or two and prosecute their principals the rest will stop the practice. How did they catch Neteller....using cooperating witnesses. What is to say they wouldn't do the same. CW deposits, wins and requests check. Govt finds bank that issued check and cracks down on that institution. The Cashier Check/Money Order has always been my fallback once Neteller folded and like many in this thread that is how I originally funded and cashed out accounts (well after CC's were cut out). Now I am worried about this method.
I am sorry to say that our government sucks, but I do love our country.
I am sorry to say that our government sucks, but I do love our country.
Clavin (great avatar)-
I am not sure of the difference. In both cases the financial institution guarentees payment of the financial insturment to the payee based upon the fact that they have good funds in their possesion from the payer. This is superior to the personal check in that a personal check is only as good as the issuer's (ie- a yutz like me) account standing at the time a demand is made on the account by the personal check. I know that doesn't answer your question, but I think the short answer is their is not a big difference.
I am not sure of the difference. In both cases the financial institution guarentees payment of the financial insturment to the payee based upon the fact that they have good funds in their possesion from the payer. This is superior to the personal check in that a personal check is only as good as the issuer's (ie- a yutz like me) account standing at the time a demand is made on the account by the personal check. I know that doesn't answer your question, but I think the short answer is their is not a big difference.
This is a sharp post, all around and it echo's what i have been saying, this is what we have to deal with now..basically "it is what it is". Fed ex, MoneyGram, WU, Bank Wire. Forget ALL the E-wallets...they are history as of 1/18/07, RIP!
But if you gambled in the 90's, you know this process like the back of your hand, was neteller great? Sure! But something had to give, and better them than all the books...
I spoke with Carolyn at thegreek this afternoon, they were taken by surprise to some degree how all the e-wallets folded so fast, and it was all knee jerk stuff, they weren't even charged with anything.
We've all been here before, anyone with more than 6 years or so of offshore experience knows it, lets make the best of it all! :drink:
But if you gambled in the 90's, you know this process like the back of your hand, was neteller great? Sure! But something had to give, and better them than all the books...
I spoke with Carolyn at thegreek this afternoon, they were taken by surprise to some degree how all the e-wallets folded so fast, and it was all knee jerk stuff, they weren't even charged with anything.
We've all been here before, anyone with more than 6 years or so of offshore experience knows it, lets make the best of it all! :drink:
Brock-
I am with you buddy. I have picked outs that are solid (I Hope!) and although I only have 10% of my BR offshore today I believe we will find a way by next football season to have a reasonable model for funding and collecting. I am fine with Cashier's Check via Fed Ex, Bank Wires or Western Union....I am just not sure which will stand the tests my beloved (sic) government will impose.
I am with you buddy. I have picked outs that are solid (I Hope!) and although I only have 10% of my BR offshore today I believe we will find a way by next football season to have a reasonable model for funding and collecting. I am fine with Cashier's Check via Fed Ex, Bank Wires or Western Union....I am just not sure which will stand the tests my beloved (sic) government will impose.
We shall see my friend!gobucks said:
My talk with Carolyn at thegreek was reassuring to say the least, she admitted how amazed they were how ALL the E-wallets folded with no direct pressure, but that if we want to wager, they plan on being there, and if you have played before Neteller, ETC, you can play now.
SportSavant said:
Do you think the Goverment is a bunch of fools?
Now that they got the new law all they will need to do is keep sending offshore books money and have them return it. Then as they get the sources of these checks or money grams or what ever way the offshore books want to pay you they will simply notify the banks that they are laundering money!
The Goverment will find every source of money movement for the offshores and shut them down 1 by 1 !! It's tto easy for them to find out!
What part of that don't you understand? I would love to keep gambling offshore, but it's not going to happen! There's not 1 bank in the world that will pass money around once they find out it comes from gambling.
Again it's too easy for the Goverment to send money and act like a bettor and get the info for the payouts! How is any book going to know until it's too late!
I wish you guys were right, but you obviously don't understand how easy it is for the Goverment to set up each and every offshore sports book into laundering money.
