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I wanted to talk about the Safe Ports Act because many people don’t understand it, or its ramifications.
The act says that sending money to offshore gambling companies is illegal. The counter argument, however, makes sense: if the offshore company uses a middle man like Neteller, players are not transferring any money (directly) to an offshore gambling company.
Simple, right?
Not so fast.
The counter to the counter argument (you still following this) is that you are indeed sending money to offshore companies, who with a click send it to these middle man companies.
So, are you breaking the law? Where things stand now is that courts have told financial institutions they have nine months to study the matter.
To stop transfers to offshore gambling companies.
Me? I’ll wait to see what they come up with. In nine months.
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Posted on October 14, 2009 by doclotto | Filed Under Casino
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