What is your definition of Regulation?

[*TT*]

The more I think about the road that lays ahead of us, the more I have begun to realize that the vast majority of current players won't be happy when and if regulation of our industry takes place allowing online poker to exist legally.

Therefore hypothetically if next year a partial repeal of the Prohibition on Funding of Unlawful Internet Gambling provision was voted on, what would you as a lobbyist(I know your probably not a lobbyist, this is hypothetical remember?) recommend to congress should be included in the legislation?

Think carefully before answering... there is no way in hell congress will permit us to operate like we were before, but we might have a chance if proper regulation is in place, the government gets a tax cut, and monies are put aside for reforming problem gamblers. What regulations would you recommend? Would you advise foreign operation of poker rooms to continue, be banned, or work side by side with companies based on US soil? How would you deal with tax issues, would you recommend a tax on all winnings in addition to income tax? What about states that don't permit gambling? What give backs would you give to the anti-gambling lobby to pacify their needs?

Don't let me down 2+2, show me your well thought out strategy to save the online poker industry!

TT [img]/images/graemlins/club.gif[/img]

[j2zooted]

Why not propose that the online casinos be regulated something like tobacco and alcohol companies, with similar requirements for the community outreach stuff. I really dont know how this junk works, but it seems like that would be a good place to start. I also think there would need to be some sort of agency making sure the sites aren't cheating, are paying people out, etc.

I think foreign poker room operations should be allowed to do business here as long as they follow the rules that are set out. Free trade is a net benefit for consumers, and if they are not allowed it causes more headaches for the US with the WTO.

I think an extra tax on winnings is excessive. Dont some people have to pay federal and state income tax on winnings? If my understanding is correct, then an additional wiinings tax could be a third tax on some people. Maybe something like a capital gains tax for poker winnings could be established instead of having to deal with income tax (something in the neighborhood of 25%?).

Dealing with states that dont allow gambling, I would initially try some sort of argument where it was implied that the games are played on the internet not in that state. I dont think this would be effective, and I think some states might just be SOL. Hopefully a couple reputable sites would stick around to pick up these players.

As far as give backs to the anti-gambling lobby, they get lip service and promises until we get our bill. Then they get nothing. They will always be opposed to us, I have no interest in helping or strengthening their cause.

[Uglyowl]

You pose a great question TT. I think life may be better as we currently stand than if the government continues to get involved in our lives at this level.

I don't have a clue how regulated horse racing is, maybe someone could fill us in.

I guess it all depends how the enforcement of UIGEA goes. If this bill is only a paper tiger, maybe nothing is better than regulation? With regulations you never know the silly rules that could be thrown in.

[*TT*]

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I think an extra tax on winnings is excessive.

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Do you really think that online gambling will ever be legalized and regulated without a "gambling tax"??? Time to wake up and smell the coffee.

Question is, who pays the tax? How will it be levied? And at what percent? Based on past experience with the IRS's stance on tracking gambling sessions they may look to tax either each individual hand, or each table session. This will of course would be in addition to income taxes.

TT [img]/images/graemlins/club.gif[/img]

[*TT*]

[ QUOTE ]
You pose a great question TT. I think life may be better as we currently stand than if the government continues to get involved in our lives at this level.

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Bingo! Some day we will look back and wish that online poker was banned, because those were the good old days when there were back-door methods to fund an account. Do we really want the government regulating and taxing our games? What if they screw it all up? What if the compromise is a situation similar to the games in Florida right now?

Keep it coming 2+2.... lets brainstorm, how do we encourage regulation without damaging out game?

TT [img]/images/graemlins/club.gif[/img]

[j2zooted]

How about a 20% increase on the rake, that would be set aside as a "gambling tax." This being in addition to any corporate taxes the poker room would owe. This would be unfair to international players, but maybe that could be the price they pay to play with americans.

[5thStreetHog]

[ QUOTE ]
[ QUOTE ]
You pose a great question TT. I think life may be better as we currently stand than if the government continues to get involved in our lives at this level.

[/ QUOTE ]

Bingo! Some day we will look back and wish that online poker was banned, because those were the good old days when there were back-door methods to fund an account. Do we really want the government regulating and taxing our games? What if they screw it all up? What if the compromise is a situation similar to the games in Florida right now?

Keep it coming 2+2.... lets brainstorm, how do we encourage regulation without damaging out game?

TT [img]/images/graemlins/club.gif[/img]

[/ QUOTE ]We already pay taxes.The real crush of regulation would be on the sites.Those are the ones who are not paying taxes,not the players.Although,this taxing of poker sites could effect us as well,by companies who try to pass their new burden to players through higher rake.Free market would hopefully control this to an extent.At least this would seem logical.How exactly does it work in other countries where it is regulated and sites are taxed???If someone who lives somewhere like this could chime in and explain the actual effects that would be great.It is a very interesting question,and id like to hear from someone who is living it,what the reality of playing online poker under government regulation is.

[*TT*]

[/ QUOTE ]We already pay taxes.The real crush of regulation would be on the sites.

[/ QUOTE ]

And don't you think the sites will pass the buck to the end user? After all their foreign customers don't force the company to pay additional taxes.

I don't think the burden will be via higher rake, it will have to be implemented as a dedicated and separate rake that only kicks in when the player is a US citizen.

TT [img]/images/graemlins/club.gif[/img]

[permafrost]

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if regulation of our industry takes place allowing online poker to exist legally.


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As your honest Washington lobbyist, I would tell you to talk to the State people.

Gambling is legalized and regulated at the state level. Congress is only enforcing the State's unlawful gambling laws with the UIGEA, not changing them.

Yes, if States allow something as retarded as Powerball to exist, there is great hope for regulated online poker. But like Powerball, it has to be at a State level IMHO.

[*TT*]

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How about a 20% increase on the rake

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I don't think that Congress cares about the rake, I doubt they will legislate a percentage increase of rake when each and every site charges for rake differently.

thinking caps.. thinking caps...

TT [img]/images/graemlins/club.gif[/img]