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Bank of America Closes Daniel Negreanu’s Bank Account

Six-time WSOP bracelet winner Daniel Negreanu, after making a million-dollar bet for his seventh bracelet and bulking up through a vegan diet, he is now in the spotlight after Bank of America (BofA) closed his account. Many poker players make a living out of their poker winnings. It is often related to general gambling and crossroads with banks dealing with casino withdrawals and deposits.

FYI for Vegas Gamblers using @BankofAmerica

They randomly shut down my business account with no explanation or opportunity for appeal despite no abnormal activity.

Looking into gambler friendly bank @lexicon_bank

Will update… pic.twitter.com/8gMbR1Y5X8

— Daniel Negreanu (@RealKidPoker) July 8, 2020

On 8th July 2020, Kid Poker was taken back, as he tweeted that The Bank of America randomly shut down his business account without giving an explanation for the matter. Negreanu has had a past experience with BofA for that matter in 2015 during the Obama era, that increases scrutiny of potentially fraudulent banking activity in industries financial institutions deem “high risk.”

In June 2019, US District Court Judge Paul Barbadoro had ruled that the Wire Act’s prohibitions are confined to sports betting. That’s a federal ruling, and while banks are federally regulated, Negreanu isn’t the first big industry name to run into difficulty with a financial institution for ‘gambling’.

Many people across the world came in support of the Canadian superstar. In 2005 WSOP Main Event Champion, Joe Hachem stated in a reply to his tweet “This has happened to many gamblers. They don’t like the large sums being withdrawn to and deposited from casinos apparently”.

Apparently Bank of America no longer wants my business. They are closing all my accounts because I put too much money in them from poker???

— Daniel Negreanu (@RealKidPoker) December 23, 2015

 

Negreanu’s fortune from playing poker is around $50 million, a Las Vegas resident, kidpoker is in a search for a more poker friendly bank, Lexicon Bank as posted in his tweet. Online players in the US have struggled to convince their banks that poker is actually legal in several states. Let’s hope that Kidpoker and other poker players don’t fall into a situation like this again.

Definitely need a local bank. They probably filed several Sars reports on your acct and after X just closed down without really wanting to get into it….

— Bill Perkins (Guy) (@bp22) July 8, 2020

Keep reading GutshotMagazine.com for more updates on online poker tournaments in the country.

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