The online poker status

[0524432]

The exact point I made to Mike Sexton at the GPSTS was that IMO we have not seen a permanent drop in the "action" at online poker rooms. While obv there was a drop, were are only currently floating along a plateau which is not permanent.

The U.S. government, as I hope you would agree, is not going to overlook the $3+billion in annual tax revenue that online poker has been estimated to generate. With PartyGaming and other offshore companies having such a choke hold on the market though, the online poker market was very much out of the U.S.'s control.

Now that they have shut it down (as much as they can anyways) they can move through the obnoxious process of working appropriate regulations into law through the several proposed bills. From there, IMO, they will be very much willing to help U.S. based companies like Harrah's get the ball rolling with U.S. based online poker operations, and then they will see and control that tax revenue.

[jbones]

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While obv there was a drop, were are only currently floating along a plateau which is not permanent.


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Evidence?

[BH2O]

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With PartyGaming and other offshore companies having such a choke hold on the market though, the online poker market was very much out of the U.S.'s control.


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This problem is easy to fix by making the requirement that to get a US operations license you have to have a presence in the US. You could even require all development and financial transactions happen on US soil.

[SIThomer]

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This problem is easy to fix by making the requirement that to get a US operations license you have to have a presence in the US. You could even require all development and financial transactions happen on US soil.

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[0524432]

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While obv there was a drop, were are only currently floating along a plateau which is not permanent.


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Evidence?

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$3billion annual tax revenue

Judiciary committee meetings (they don't just happen for every two-sided debate over current legislation)

Mike Sexton, which a proven track record, foreseeing poker to be wildly popular on tv, corporate sponsored players (a la Nascar), and the popularity of online poker (hence his involvement in PartyGaming before they even released PartyPoker)....all of which he publicly predicted long before any of these, and more which I'm missing, had occured in the poker world.

[0524432]

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With PartyGaming and other offshore companies having such a choke hold on the market though, the online poker market was very much out of the U.S.'s control.


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This problem is easy to fix by making the requirement that to get a US operations license you have to have a presence in the US. You could even require all development and financial transactions happen on US soil.

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Agreed. I only wonder how easy it would be for a huge company to move or duplicate enough of their operations into the US to be considered for such a license by the government.