US seizes $34 million in online poker players funds, EU ready for WTO dispute

The U.S. Justice Department operating through the General Attorney's office for the Southern Division of New York, has ordered US banks working with payment processors connected with the online poker industry to freeze payments of at least m, believed to be the balances of approximately 27,000 players from pokerstars.com, fulltiltpoker.com and other US-facing poker sites.
At the same time, the European Union said to be ready to file a compensation dispute with the World Trade Organization if the United States don't drop the 2006 gambling ban which prevents foreign internet gambling sites from operating in the US.
The EU said in a statement that it was unfair that European companies could not operate in the United States while U.S. companies were free to offer internet games to Europeans.
An interesting comment on the Washington Post read: "One thing is for sure, it [the UIGEA] has nothing to do with protecting children. Unless they've started giving Mastecard and Visa to 10 year olds. It's all about the money, nothing moral or ethical. Just the opposite."

In related news, PWC estimated that nearly billion could be raised over 10 years from the legislation introduced by Rep. Barney Frank, which calls for regulation and taxes at the federal level for online gambling companies willing to set a presence in the United States.

Date published: 21 June 2009


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