Online Poker Site Chan Poker CANNED by the UIGEA
Now this will probably hurt the online poker industry more than the game itself.
Chan Poker, the once flashy online poker site, is the latest victim of the UIGEA legislation that was passed in late 2006. Chan Poker has announced its closure effective last August 21 but has assured players that withdrawal requests will be honored and processed as quickly as possible.
The Unlawful Internet Gambling Enforcement Act (UIGEA) banned the transfer of funds from financial institutions to any Internet gambling site with a few notable exceptions (such as horse racing and online lotteries).
Unfortunately, online poker was not named as one of the exceptions and this caused a lot of strain in the industry. A lot of gambling sites, particularly those that are public, have stopped taking in U.S. players and that resulted in tremendous loss of profit.
Poker buffs will remember Chan Poker as being fronted by the legendary Johnny Chan whose claim to fame includes ten World Series of Poker bracelets (and an energy drink aptly named, ‘’All In’’).
The site was launched in 2006 to much excitement but the fervor didn’t last very long, thanks to the wet blankets who engineered the legislative event.
The poker site ceased operations August 21, 2008. The site’s final daily freeroll was held August 19, 2008 and just a few days ago, the site’s poker clients have been disabled. The site has promised to continue accepting withdrawals for as long as possible but has urged members to submit requests at the soonest possible time.
Chan Poker is actively seeking a partner (also known as another online poker site) who is willing to buy its database of players as well as honor the player’s non-monetary point balances. I think it’s safe to say that Chan Poker’s players should be able to find another Internet poker haven in no time.
These guys should just get out and join real poker tournaments like the one we have in the 2008 World Series of Poker.
Who will win the 2008 WSOP Main Event Final Table at the Rio in Las Vegas on November 9? Bodog sportsbook has the odds.
Dennis Phillips 4.00
Craig Marquis 11.00
Ylon Schwartz 9.00
Scott Montgomery 5.00
Darus Suharto 9.50
Chino Rheem 8.50
Ivan Demidov 5.50
Kelly Kim 26.00
Peter Eastgate 6.50
Want more odds? Visit Bodog for more poker betting odds and the best betting lines on some of today’s biggest sporting events.
2008 World Series of Poker Chan Poker
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