3pips   PROSECUTION OF ONLINE POKER (4/15/11)

 Prosecution of online poker - FBI vs. Full Tilt / Poker Stars

It's sad that the United States is so interested in taking steps which can undermine our economy. Costly domestic programs, overseas campaigns, our economy in malaise - all producing a severe Federal deficit. Does this concern the United States? Perhaps not.

Here we are on April 15th, working on our taxes, and the US is apparently doing what it can to undermine our tapping a major new source to increase tax revenue - online poker.

Earlier today, the United States Attorney's Office for the Southern District of New York unsealed a major indictment against 3 major online poker companies - PokerStars, Full Tilt Poker and Absolute Poker - and 11 individuals.

The US is making serious claims against the online poker industry and people who are allegedly key insiders or associated with the banking that's integral to the players and the poker companies.

Then again, perhaps this is a first step which will bring about the clean-up of the industry, by allowing a backdrop for negotiations that could produce a settlement with 3 major online poker companies. After all, that's what happened several years back, after the US pursued PartyPoker, through the same New York US A.G's Office. That case settled. Now, if legalization happens, PartyPoker would be poised to service US players.

There's been recent buzz about PokerStars and Full Tilt getting backing from established US gaming concerns.

So what does it all mean to you, fellow player? Time will tell. That's one more thing you can bet on......

- E. Mark the "e-Shark" Gross