http://www.thestandard.com/node/112016/comments comments feed. en http://www.thestandard.com/news/2008/08/21/briefly-chanpoker-shuts-down <!--paging_filter--><p><!--paging_filter--> <p><!--paging_filter--></p> <p>ChanPoker, the online poker site founded by professional poker player <a href="http://en.wikipedia.org/wiki/Johnny_Chan_(poker_player)">Johnny Chan</a>, has announced it is ceasing operations, effective today.</p> <p>An <a href="http://www.chanpoker.com/closing/">announcement on the ChanPoker.com website</a> said that deposits would no longer be accepted, but all withdrawal requests would be &quot;honored and promptly processed.&quot;</p> <p>The announcement did not explain why ChanPoker was shutting down. However, PokerNews <a href="http://www.pokernews.com/news/2008/08/chan-poker-announces-closure.htm">speculated</a> that the shift in the online gambling market, caused by the <a href="http://www.federalreserve.gov/newsevents/press/bcreg/20071001a.htm">Unlawful Internet Gambling Enforcement Act</a> (UIGEA), led to ChanPoker's demise. The act was passed in 2006 by U.S. Congress, and prohibits the transfer of funds from financial institutions to online gambling sites. UIGEA has forced many online gambling sites -- <a href="http://www.chanpoker.com/help/">including ChanPoker</a> -- to prohibit U.S. players from taking part in online games. </p> <p><b>More news, commentary, and predictions from <i>The Industry Standard</i>:</b></p> <ul> <li><b><a href="http://www.thestandard.com/news/2008/08/20/e-bullion-update-fayeds-lawyers-say-feds-seized-24-million-assets">e-Bullion update: Fayed's lawyers say feds seized $24 million in assets</a></b></li> <li><b><a href="http://www.thestandard.com/news/2008/08/20/playboys-ceo-were-profitable-online">Playboy's CEO: We're profitable online</a></b></li> </ul> http://www.thestandard.com/news/2008/08/21/briefly-chanpoker-shuts-down#comments co:ChanPoker Standards &amp; Legal The Industry Standard UIGEA Thu, 21 Aug 2008 10:30:57 -0700 Ian Lamont 112016 at http://www.thestandard.com