Intersite account transfer business idea

[Talking Poker]

I thought about this as a business right after Neteller froze up. I looked into it briefly, but decided it wouldn't be worth the potential risks... Let me give you an example of the biggest potential problem as I see it:

1. Scammer makes a $500 fradulent deposit to Poker Stars.
2. Scammer swaps $500 on Stars with you for $495 on UB.
3. A few days later, scammer's deposit gets charged back, and guess what - now Stars freezes YOUR account (or certainly at least $500 worth of it).

Don't think that happens? Ask eejit about it.

There are also much more serious issues to take into consideration - namely potential money laundering charges or anything else that could get you on the DOJ's hit list (UIGEA, for example).

IMO, it's just not worth the risks. I mean, trading at a 1% margin, you'd have to do $1 million in transfers to make $10k - BEFORE expenses (web site, programming, support, advertising), taxes, etc, etc.

IMO, you'd be far better off spending the time required to get this up and running (and supported) playing poker instead.

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