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  #1  
Old August 21st, 2011, 12:31 PM
Chander Chander is offline
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Default How do you get your winnings into the USA?

Withe the laws the way they currently are how are people getting their winnings back into the USA? Does any one have a offshore account? Are different casinos better then others at getting you your winnings?

Any he;p will be appreciated.
  #2  
Old August 21st, 2011, 12:39 PM
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Richard Munchkin Richard Munchkin is offline
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Why is this a problem? Here is a list:

1. Bring cash or buy travelers checks and declare the money when you enter the country.
2. Buy traveler's checks, make them out to a friend or team mate, and sign them. Then you can either mail them or bring them in without declaring since they are not negotiable instruments.
3. Go to a bank in the foreign country and wire the money home to your account.
4. Go to an American Express office and pay down your Amex bill. You can great over-pay on your account and it will be a credit which can later be refunded.
5. Make friends with other professionals and arrange to give money to X in foreign country and pick it up from Y back home. (This also can help with losing money on exchange rates if you pick cash up from X in the first place.)

Anyway, I have never had a problem with this.
  #3  
Old August 21st, 2011, 04:21 PM
Chander Chander is offline
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OK I can see I was not clear on what I was asking. I am really wondering about using online casinos. If I where to take a trip over seas I could figure it out, I do not mind paying taxes on winnings. However, I do not want the entire amount to be seized by the government.
  #4  
Old August 21st, 2011, 04:34 PM
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Richard Munchkin Richard Munchkin is offline
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My bad, I didn't notice this was posted in online casinos.
  #5  
Old August 22nd, 2011, 06:58 AM
Sucker Sucker is offline
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Why would the government seize your winnings when you've broken no law? The UIGEA did NOT outlaw internet gambling; it only prohibited certain transactions, and it ONLY applies to the site itself; not to the gamblers. This law even goes so far as to clearly state that it is NOT to be construed one way or another as making online gambling legal or illegal.

Most forms of online gambling are legal in all but a couple of states. Online sports betting is illegal as per U.S. law. Assuming you're talking about other than sports winnings - such as poker; if you happen to live in one of the states where online gambling is illegal, it might be a good idea to have your check sent to a friend in another state.

And yes; some online casinos are better than others at paying up. There have been many horror stories about dishonest gambling sites. Hopefully, your money is in one of the larger, more reputable sites.
  #6  
Old September 7th, 2011, 09:54 PM
WRX WRX is offline
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Online play has become hazardous for those of us in the U.S. It's not that most of the site operators didn't come into the business with honest intentions. The problem is that the U.S. government, with no actual legal basis, has been actively working to prevent gambling sites from being able to remit payments to players. If you get a payment, either directly from a casino or from an ewallet service to which the casino transfers your funds, it will probably be by a check in the name of some generic-sounding company, having no obvious connection to any gambling business. The government has been making considerable efforts to identify these shell accounts, and to pressure banks not to do business with them.

At this point, if a casino or an ewallet service pays you, it risks U.S. government prosecution for some imagined crime. If it doesn't bother trying to pay you, and just steals your money, it's very unlikely that anyone will prosecute. Some people have stronger principles than others. Principles can crumble in the face of threats of loss of freedom or money. These kinds of incentives can cause honest people to stop behaving honestly. You can thank Washington. Yes, it may still be possible for U.S. residents to make money from certain online casinos or poker rooms, but personally I don't know how to evaluate the risk reliably, and for now I'm not taking the chance. Once burned twice shy, and I've been burned more than once.

If you can set up an overseas bank account, and are in a position to play outside the U.S., you can probably manage it. However, for a U.S. citizen to open a bank account in Europe or most foreign nations has become very challenging. Details of how you might be able to do it are beyond my qualifications to write about. Be aware that if you have control of a foreign financial account over a certain size (and this includes ewallet services and the like!), U.S. law requires you to file annual reports with the government. The penalties for not complying are draconian. Big Brother is watching.

Last edited by WRX; September 7th, 2011 at 10:00 PM.
 

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