Two payment processors and their owner have agreed to forfeit $13.3 million to resolve claims that the funds were involved in money laundering. The funds are alleged to be traceable to the Pokerstars website based in the Isle of Man.
Seems like nothing more than a government negotiated extortion plan. Here are your choices:
1. A prolonged legal battle and the potential to lose all your money and spend some time in jail or... 2. Give us 13+ million so we can use it for non-productive, wasteful government expenditures and we won't pursue any further charges.
Here is the most important point and explains the risk versus reward concept in hard cold numbers.
PokerStars has dominated the U.S. market for online poker ever since companies like PartyGaming exited America after Congress passed UIGEA. That has helped PokerStars become the world’s biggest online gambling firm, with estimated annual revenue of $1.4 billion and some $500 million in profits.