California to Legalize Online Poker Games Soon

February 12, 2010 :: Posted by - admin :: Category - Poker News

Online Poker Games to Be Legalized by California

Love to play online poker games sitting at home? Here’s some good news. Budget issues push California lawmakers to legalize online poker games for their residents and fill up state‚Äôs budget holes with tax revenue.

California to legalize Online Poker Games

This meeting was more informational than anything else. A lot of people had their chance to present their point of view on the Online Poker Games regulations.

“California could capture tax revenues of $650 million over the next five years if the state were to legalize playing online poker games”, said Warwick Bartlett, the founder and chief executive officer of Global Betting and Gaming Consultants. “Our experience in regulated markets shows that legalization and control is a more effective government policy than prohibition because technology will always be ahead of law, which historically reacts to changing circumstances which legislators cannot predict,” Bartlett said. Ordinary people like to play online poker games for real money and it is better to regulate rather than criminalize what is a mainstream leisure activity.

The Tax revenue remains as a key point of this discussion. US players create the biggest market in the world for Online Gaming Operator but these days entire tax money goes offshore.

Bartlett warned that the tax rate would be a key issue. If the tax is too high, gamblers will be driven to current Internet gambling sites operated outside the United States, where low tax rates enable operators to offer rebates and incentives.

“However, customers will pay a premium to play poker real money legally, so pitching the rate at the correct level is the key,” Bartlett said.

Tags: ,

Leave a Reply

You must be logged in to post a comment.