Home / Poker News June 2011 / A New Attempt to Legalize Online Poker
A New Attempt to Legalize Online Poker
Posted by: Randy Williams - Sun, 2011-06-26 01:44
A much anticipated bill, aimed to legalize online poker, has been introduced by Rep. Joe Barton, giving renewed hope to the representatives of the besieged industry. Unlike other such attempts in the past, HR 2366, also known as the
Online Poker Act of 2011, enjoys the co-sponsorship of several Congressmen, Republicans and Democrats alike.
The bill will first head to the House Energy and Commerce Committee, of which Barton used to be chairman. Barton has called the customary “Shuffle up and Deal” to kick off one of the
2011 WSOP’s events.
The bill, which has gained Barney Frank’s and Cambpell’s support too, is the first one on which actual details have emerged this early on.
In case online poker does get legalized, the provisions of the law will extend automatically to states. Individual states can opt out though, through the state governor.
For the first two years following the implementation of the law, only US-based gambling interests like large casino operations and racing tracks will be able to apply for a license. This provision is meant to give US-based companies a head-start in the new online poker gold-rush. After two years, the Commerce Secretary can expand the qualifying field.
Players will no longer be able to use credit cards for their deposits. The minimum age requirement for playing poker online will be set for 21.
Criminal penalties, including time in prison (but not limited to that) will be instituted to keep cheaters, botters and colluders under control.
Sites which operate on the US market will have to relocate their servers to US soil.
Licenses can be revoked. In the case of a revoked license, the site which loses its right to operate in the US must return all player funds within 30 days.
The bill would amend the UIGEA, in the sense that it would require the Treasury Dept. to publish a list of illegal gambling sites. Financial institutions would this way know which transactions to block and which ones to allow.
Joe Barton has expressed hope that online poker could/would be legalized this year.
