Home / Poker News January 2009 / The prospects of legal online poker in 2009 in the USA
The prospects of legal online poker in 2009 in the USA
Posted by: James Carter. - Fri, 2009-01-02 04:01
To most of those who follow the legal battle surrounding the UIGEA and its ever imminent repeal, it is probably not news that the incoming Democratic administration generally views the issue in much more favorable terms than the outgoing republican one.
That’s right, the administration which made the UIGEA happen will soon leave, and despite arguments that legalizing online poker is nowhere near the top of the list of priorities of the incoming administration, signs abound that we may see a move towards the repeal of the UIGEA sooner than most would expect.
In desperate need of income, local administrations are slowly running out of options to raise much needed funds. The “sin taxes” levied on alcohol and tobacco, are already placing a huge strain on the industry. Increasing these does not represent a viable solution. Taxed online gambling and poker represents a breath of fresh air in this respect, and a solution which is likely to be tapped relatively soon.
If nothing happens on federal level, individual states will probably take matters into their own hands. The question is: how exactly will the online poker industry be affected by these likely changes? Will it be the ticket to untold riches or will the regulations actually squeeze even the remaining value out of it?
According to some experts, a legalized and fully regulated US online gambling environment will represent a market much more difficult to break into for Malta, Gibraltar or Bermuda based companies than the present one.
On top of it all, the far right will definitely not admit defeat and stand rebuked if the UIGEA does get repealed. They have proved it numerous times in the past that they’re formidable adversaries in whatever issues they decide to tackle. The UIGEA itself is a cautioning warning in this respect.
The bottom line is, 2009 might turn out to be a good year for online gambling, however do not expect things to return to their pre-UIGEA state. If online gambling is legalized, it will likely be heavily taxed, and the market will prove an entirely different challenge for offshore companies. Be careful what you wish for, as they say. While the US market may formally open up, you may just end up wishing the UIGEA was re-instated…
