Wednesday, January 17, 2007

U.S. Cracking Down on Poker Sites

This just makes me cranky...

NETELLER: No More InstaCash for U.S. Residents

Some poker sites have limited or completely restricted NETELLER transactions following the detainment of two former NETELLER executives by the U.S. Federal Bureau of Investigation.

Since the incident, NETELLER has banned the use of its InstaCash feature for U.S. residents, but continues to allow users to fund sites with money that already resides in their NETELLER accounts. Poker sites had mixed responses to NETELLER’s move. PokerStars and Full Tilt Poker, for instance, followed the NETELLER ban exactly and now prevent users from funding their accounts using InstaCash. Bodog, on the other hand, took a more drastic stance and disallowed players from using NETELLER at all, even with funds currently in their NETELLER accounts.

Trading of the NETELLER stock was suspended following news that the two NETELLER co-founders, John Lefebvre and Steve Lawrence, were arrested while traveling in the U.S. The two founders have not had an official role in the company, aside from being the top shareholders, since before their detainment.
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