Man did I get excited, you have no idea.  First, I own a website catering to online gambling content so it only makes sense that I will benefit in some way shape or form from more online gambling.  Second, the games will get better with the government’s stamp of approval on it.  Wow, that seemed simple.  I mean I don’t feel particularly held back at the moment from playing online poker and the DOJ even admits that it is legal to play as long as you aren’t the one hosting the game or taking wagers.  Boom baby.

Or maybe not.

Is it possible that we are asking for clarification for a law that no one is breaking? Clarification of the law only means that it will make illegal what is currently legal for the player, or maybe a better way to say it is it will define legal.  If you ask people, and I have, what feedback they have gotten from the states in this regard you can almost hear the crickets chirping.  Fact is something like 12 states have laws on the books that affect online wagers.  I mean why are states going to allow the federal government to tax without looking for their share and their share is typically much more substantial than the 5% that Barney Frank’s Bill is proposing. 

And don’t argue WTO, giving the states the rights to opt out is not WTO compliant.  So on there own merit neither of these bills increase our freedoms.

I don’t have a problem taxing deposits because I haven’t deposited in over 4 years.  So on its face I don’t have a problem with either bill as long as the states will go for the proposed legislation, hell, I’ll even take the 38 states that currently don’t.  But does anyone realistically think that is going to happen? If you do think it could happen you are kidding yourself, this will be another gravy train for states similar to cigarettes and alcohol that is allowed only because the penalties of using them are so harsh that even the opponents allow it.  If these bills get passed they will be nothing more than a restriction on our rights.  Need an example:

Currently we pay just the rake, it is proposed that we will pay a tax on deposits of 5% not to mention the fees that the states could impose, oh, and the rake too.

Currently poker is being played in every state, granted in some states it may be illegal but there is no way of really knowing.  This new legislation will require the sites to verify your location, so at least 25% of the people you are playing with today will be gone the day this bill gets passed.  And likely many more if the states get their hands on us.

Right now we operate under a law that is basically unenforceable.  The banks do not have the capacity, nor is it really clear what is illegal using the wire act.  I am all in favor of the U.S. becoming WTO compliant but that will not happen because of sports betting.  So poker is stuck in the middle, if we want to be legal we have to subject ourselves to being illegal first, oh, and then we will have to increase the house edge against us by agreeing to a litany of new taxes, the first wave coming from the Feds doesn’t look bad but my thought is that states could whack us good.

What am I missing that makes regulation so great? I am a PPA member and they have done a good job getting Washington’s attention but at what price to our freedoms? It is one thing to negotiate but a key to making a deal is realizing when you don’t need to negotiate.