Cake Poker’s Open Policy Toward U.S. Poker Players
According to Cake Poker’s website, ever since the law changed in the USA regarding how payments are processed in the online gambling world, many online gaming sites simply stopped operating in the U.S. It’s not that they were afraid that they might be breaking any laws: they weren’t. Their concerns centered around the issue that banking institutions would not process the transactions between US players and the online casino. They were more worried about losing revenue.
Good News for US Based Online Gamblers
However, there were a few savvy online casinos that decided to stay in the US market, and found ways to insure that payments would be processed. One of these gambling houses is Cake Poker. According to the Cake website, there is good news for players based in the USA:
On Friday September 30, 2006 the 109th sitting of the US Congress passed a Port Security Bill including a rider that affected online gambling in the US. The common media description of this act called it a ‘ban on online gambling’. This is patently false. All previous attempts at passing legislation banning online gambling have failed. Instead, this act championed by Bill Frist (R-Tennessee), attempts to prohibit payments to online gambling companies from US residents via US based financial institutions.
CakePoker will not restrict access to our players from the United States. It appears that some of our competitors have decided to take this preemptive step for business reasons that are most likely related to the fact that they are publicly listed companies. In other words, they cannot be seen as doing anything that would put their shareholders in a ‘gray’ or precarious position. CakePoker N.V. is a legally licensed and privately held company in the country of Curacao, Netherlands Antilles. As a privately held company we have no such pressures placed upon us.
Cake Poker
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