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As reported in yesterday’s The Wall Street Journal, the House Financial Services Committee voted 41-22 to approve legislation that would regulate many forms of online gambling, including poker and bingo, while specifically banning betting on major US sports leagues like the MLB, NFL, NBA, and others.
Other news articles point out that the legislation also would deny licenses to any online site that has allowed, or currently does allow, US players to gamble online. Looking ahead, this would appear to effect PokerStars, FullTilt, and other online poker rooms that have continued to serve US players despite the UIGEA of 2006.
Other key elements of the legislation include player loss limits, rigorous age verification systems and frequent testing thereof, and allowing states to opt out of this legislation and ban its citizens from online gambling.
And the legislation that was passed does not cover how the industry is to be taxed — that’s covered in a separate bill that hasn’t made it out of the House Ways and Means Committee.
It is unlikely that this legislation will be voted on before the current Congressional Session expires in September. The scheduling is simply too tight. If it is not voted on, the process will need to start again next session. Perhaps it will be attached to some other legislation, as was the UIGEA of 2006. Even so, if the legislation is approved, it still would need to be signed by Obama.
We are still years away from any comprehensive online gambling policy in the United States. Need proof? The UIGEA of 2006 took nearly 4 years before it actually went into effect this past June 1 — and there are still plenty of loopholes in that legislation that allow US players to fund and withdraw money from their online gambling accounts… or so I’ve heard.
Jason Young is steaming. He’s claimed in a recent blog post that he and many other pros feel that online poker is rigged.
Here is an excerpt:
“I know a lot of live pro’s that run like dogsh*t online…HOW in the world can a guy who wins well into 6 figures playing live sit n go’s, have it be the complete opposite online. That is for Tommy…guy wins seats into every major tourny imaginable and cant win a cent online to save his life…the same can be said for so many other guys I know.”
I certainly disagree with Jason on this, but if you like conspiracy theories, then maybe you’ll find yourself agreeing with him.
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Full Tilt Poker’s Big Little Tournament series returns this July, with eight $100,000 guaranteed tournaments featuring buy-ins of $2 + $0.20. With a guaranteed first-place prize of $9,000, the Big Little Tournament is your chance to turn a small buy-in into a huge score.
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August 1st
August 15th
August 29th
September 12th
September 26th
October 10th
October 24th
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The Poker Player’s Alliance (PPA), the leading poker grassroots advocacy group with more than one million members nationwide, seeks to raise additional funds leading up to a crucial vote this summer on legislation to license and regulate online poker. On July 1, their goal is to raise $50K.
I have registered to play in the PokerStars World Blogger Championship of Online Poker! Bloggers can register for to play for free in the WBCOOP, if you don’t have a PokerStars account you can get your Poker Download here. Registration code: 575239
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