US Seizes Poker Funds from Neteller
Money was taken from online money mover Neteller recently by the US Government as part of their crackdown on what they consider illegal online poker activity as per the October 2006 passage of the Unlawful Internet Gambling Enforcement Act (UIGEA). Neteller confirmed this in a press release saying that the amount of funds was around US $55 million; the money was taken by the United States Attorney’s Office for the Southern District of New York which is handling the case against Neteller’s two founders. It is unknown at this point if this will interfere with Neteller providing funds requested by account holders when they make withdraws.
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Related Poker News:
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- Neteller signs agreement on US player funds with DoJ
- NETeller Confirms Funds Seized by FBI
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- Poker Players Getting Money Back from Neteller
- NETeller Announces US Distribution Plan For Frozen Funds
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- US players can’t use NETeller anymore to fund poker accounts
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- Neteller Suspends Online Gaming Services to US Residents
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Poker jargon:
- SPLIT [THE POT] - To split the pot between two or more players. Related term: QUARTER.
- RUNNER-RUNNER - A hand made using both of the last two cards dealt.
- PAY STATION - A player who rarely folds, thus who frequently calls better hands and loses. Almost as much fun as a LIVE ONE.
- FREEROLL - [1] A poker tournament that does not charge a buy-in fee; players must earn buy-in credits through previous play at the same establishment. [2] Having a lock on part of a pot (sure to win a greater fraction of the pot than one is betting) and playing to win more or all of it.
- RAGS - Board cards that are small, not suited and not in sequence, e.g., 9-5-2. When "rags flop", it is unlikely that anyone has a good hand, except possibly the big blind in an unraised pot.
- PAT HAND - In draw poker, a hand that does not need any more cards. Specifically, a straight, flush, full house or straight flush. One might bluff and represent a pat hand but actually hold something else.
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