Re: Anyone heard anything: \"What no one is saying about internet pok
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who regulates poker sites? if its these little countries they opertate from then theres no hope because there goverements want a piece of there pie and they wont stop the sites if they are bringing in good money.
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Many of these sites are regulated by the Kahnawake Gaming Commission. This falls under the "better than nothing" heading when it comes to regulation, but hey, at least it's something.
The governments of "these little countries they opertate from" (in the case of Poker Stars it's The Isle of Man) get their taste via legal taxation of corporate profits. Again, it's in the interest of these countries for the games to be run fair and square so that the on-line casinos are around for a long time, and the gready capitalist corporate executives earn lots of profit for them to tax away.
IIRC, Poker Stars reported profits of $US 600M in 2006. That's about 2 mil a day, all from the rake we pay.
I don't know how the taxes are structured on The Isle of Man, but if it's anything like the US they would take ~20-30% of that, or 180 mil.
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