e-gold blocks U.S. gambling payments

[AdamSelene]

Sad to see one of the more alternative and off-the-radar methods of funding gambling accounts capitulate voluntarily to the UIGEA.



e-gold Empowers Online Gambling Sites to Refuse Payments from US Persons

On October 12, 2006, the Safe Ports Act was signed into law in the
United States. As a result of the Safe Ports Act and the Unlawful
Internet Gambling Enforcement Act of 2006 contained in the Safe Ports
Act, the facilitation of many forms of Internet gambling by persons
located in the United States has become a proscribed activity. With
the objective of preventing the use of e-gold by United States persons
for unlawful online gambling, e-gold has deployed a feature whereby
any e-gold account holder may configure their e-gold account(s) to
block incoming e-gold Spends from accounts controlled by Users
residing inside the United States or who are accessing the Internet
from within the United States. Online gambling businesses using e-gold
are now required to enable this new account attribute."

 

[Phaedrus]

I sure wish they would pack their shit and move to Panama.


Phaedrus

 

[AdamSelene]

What they need to do is sell E-Gold to a reliable offshore operator -- like sportsbook.com was sold.

I know some e-gold employees that would move to Panama (or CR) but Doug Jackson isn't going to move. And just moving the operation offshore won't absolve him of liability, it has to be cleanly sold.

If I had the money I'd make an offer, but I don't think they'd sell it for $1.

And I still get the impression they want to be "recognized" as a legal currency in the eyes of the U.S. government, whatever the fvck that means.

They seized all Iranian accounts a few months back. The writing is on the wall. They are complying with every whim of the U.S. government at the same time they are being persecuted by the U.S. government for being an unlicensed money transmitter. :bunnies:

 

[Callisto]

I never heard of e-gold having anything to do with gaming in the first place. And doesn't this whole idea of blocking ANY transactions defeat the purpose of e-gold?

 

[AdamSelene]

I never heard of e-gold having anything to do with gaming in the first place. And doesn't this whole idea of blocking ANY transactions defeat the purpose of e-gold?

E-Gold is accepted by 5Dimes. In fact they made a promo of it this month.

http://ad.5dimes.com/newsletters/5DEmail02_07_07.htm

Also accepted by BetFair, I believe, and a handful of others.

Never gained a lot of traction for two reasons:
a) inability of bookmakers to understand gold-denominated deposits or unwillingness to accept exchange-rate risks.
b) lack of reputable e-gold exchangers


Yes, placing policies on how you can spend or accept "e-gold" rather invalidates both the notion that it is a "currency" and also that it is entirely "peer-to-peer".

 

[AdamSelene]

I never heard of e-gold having anything to do with gaming in the first place.

I misread your statement first read. E-gold isn't commonly associated with gaming, as there are very very few gaming merchants that accept it, and that represents a tiny fraction of the "currency's" usage. All the more disappointing then for them to jump ship. NETTELER != E-Gold, and I highly doubt anyone uses Omnipay (the "exchanger" that they operate) to fund gambling.

I think they still hope they will get "regulated" as a financial industry service; and being in court over such they wash their hands with UIGEA compliance.

That said, it isn't difficult to work around, if you know a particular service that starts with the number "1".