Released by TruePoker on Oct 01, 2006

Can I make a Deposit to TruePoker from the United States ?

Congress has passed the UIGE Act of 2006, which covers deposits made by US players to certain types of sites. Our read is that Act covers only sites which offer Sports Betting or Casino type games where you bet against the Site itself.

Summary:

Yes, you can legally deposit to TruePoker from the United States. TruePoker does NOT make or accept bets or wagers in which it has any stake in the outcome. So, our games and tournaments, and your deposits, are not covered by this UIGE Act of 2006.

Legal Analysis:

A poker site's business model appears to be the threshold issue for determining coverage for a Site under the UIGE Act:

Section 5363 prohibits financial transactions where a deposit is accepted by a "person engaged in the business of betting or wagering".

Section 5362(1) defines "bet or wager" to mean the "staking or risking of something of value upon the outcome of ... a game subject to chance".

DOES THE Poker Site have a STAKE in the games' outcome ?

If, yes, then the business model is covered and that Site is forbidden under Section5363 from accepting US player deposits from States from where it is illegal for players to play online poker.

If no, then the poker site business model is not covered.

TruePoker does not have a stake in the outcome of the games or tournaments we offer, in the US or anywhere else. (We do not offer casino games or sports betting, and so have no stake in the outcome and are not in the "business of betting or wagering")

Business Analysis :

The ultimate effect of this Act will not turn on whether a poker site is actually covered, unless that is litigated successfully. Rather, the perceptions of financial transaction providers (current or newly created) who serve the US market will predominate.

That seems to be the threshold issue as we see it.

(We are checking this with our legal counsel and are not trying to give anyone legal advice)