party poker

Sunday, February 07, 2010

Internet gambling again in play - washingtonpost.com

Internet gambling again in play - washingtonpost.com: "Rep. Barney Frank (Mass.) and other Democrats are using the six-month reprieve to push ahead with legislation that would legalize and regulate poker, mah-jongg and other online betting games -- pastimes that have exploded in popularity in a country that accounts for more than half of the $16 billion global Internet gambling market. The federal government, which rarely prosecutes online gambling, would net billions of dollars in tax and licensing revenue if it were legalized, proponents say."

Ever since the Unlawful Internet Gambling Enforcement Act of 2006 was passed, online poker rooms have lost tons of customers. There were times when you couldn't even find an open table to play some hold'em. Poker rooms like Pokerstars, Ultimate Bet, Party Poker and Pacific Poker were loaded with players. A majority of these players were from the United States. Once the UIGEA passed and it forced some poker rooms to shutdown and it made US players find other ways to play hold'em.

It's good to know that Rep. Barney Frank is working on this revised bill. He's got some clout in Congress and it seems that it might have some legs. I'm sure Obama's administration can use some of the taxes that might come from online gambling. The deficit is growing by the minute and a companion bill could generate in excess of $42 billion in tax revenues over 10 years.

No comments: