Saturday, June 9, 2007

HR 2607 and HR 2610 to Make Online Poker Legal and Regulated and Taxed in America

Although not specific to Florida poker there has been some action in the online gaming world. There have been two bills introduced in the U.S. House that have to do with having poker considered a game of skill and online gaming regulation.

H.R. 2610, also know as the Skill Game Protection Act, was introduced by Rep Robert Wexler (D FL). This bill will ammend the wire act in a way to allow internet poker and other games of skill such as chess, bridge and majong to be played online for wagers in the USA. The bill also has language to provide for regulations providing safeguards against minor play, money laudering and also for the taxation of play. States will have the opportunity to prohibit online play through state law.


You can follow HR 2610 at the GovTrack site or on the Library of Congress Thomas site.

H.R. 2607, also known as the Internet Gambling Regulation and Tax Enforcement Act, was introduced by Rep Jim McDermott (D-WA). The bill would create a taxation regime for online gambling companies to be licensed under the recently introduced Internet Gambling Regulation and Enforcement Act (H.R. 2046). The bill would also give online players consumer protection.

You can follow HR 2607 at the GovTrack site or the Library of Congress Thomas Site.

The website Safe and Secure Internet Gambling Initiative has plenty of information on HR 2607 and internet gaming regulation.

The site also states "Estimated tax revenue generated through regulated Internet gambling ranges from $6 billion to $25 billion over five years"

On June 8, 2007 there was a hearing in Congress dealing with the regulation of internet gaming. here is a link to an edited version that runs a bit over 7 minutes.
YouTube link to the Financial Services Hearing on Regulating Internet Gambling

Mentioned above is H.R. 2046, introduced by Barney Frank which can be followed at the GovTrack site or the Library of Congress Thomas site.

H.R's 2607, 2610, and 2046 hopefully will undo the damage done by the UIGEA to online poker in the USA.

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