New Online Poker Bill Introduced
The push to legalize internet poker received an added boost as Sen. Robert Menendez introduced a new pro-poker bill on Thursday.
Senator Robert Menendez (D-NJ) has introduced a new bill that seeks to legalize and regulate games of skill like online poker. The Internet Poker and Games of Skill Regulation, Consumer Protection, and Enforcement Act (S.8309) focuses specifically on games where a player's skill dominates the outcome.
Sen. Menendez took a great deal of effort to characterize the nature of skill based games. He notes that despite the element of chance involved, success is determined by a player's level of skill over an extended sampling. Examples of such games cited in the bill include poker, bridge, mahjong, backgammon and chess.
10% tax on all player deposits proposed
Unlike the previous legislation H.R.2267 introduced by Rep. Barney Frank, this new bill focuses heavily on online poker, and does not cover online gambling. In the 91 page bill, it is noted that "Poker is part of the cultural and recreational fabric of the United States and has been since the founding days of the United States. United States poker aficionados have included presidents, judges, and statesmen."
The bill also describes in detail a framework for licensing, regulation and taxation of online poker. A 10% tax on all deposits is proposed in the bill, the proceeds will then be split evenly between the state and federal governments. Various provisions regarding under-aged players, fraud prevention and identifying problem gamblers have also been included in the wording of the bill.
With the increased governmental regulation proposed by the bill, incidences and allegations of insider cheating by online poker sites should hopefully be a thing of the past. Strict licensing requirements will ensure that only trustworthy operators are allowed to offer their services. This will go along way towards alleviating the doubt in the minds of new players who intend to get into online poker.
