Yet another senator has submitted another proposal to the house endeavoring to obtain regulation and taxes on online poker in the United States, so this should be good news for Americans. Fifty percent of the sixteen billion dollars betted across the globe on the internet have been assessed to be American money. Disagreeing with the Us treasury department, US online poker players claim that internet poker is not a game of chance but rather one of dexterity. The New Jersey Democrat, Robert Menendez, has sponsored a new bill, and evaluates that by providing licenses and regulations for online poker, above three billion dollars can be raised in yearly revenue.

 
According to Menendez, taking online poker out of the shade and exposing it to the law is an opportunity for assisting the US economy while having families protected. Furthermore, during this difficult period, billions of dollars in revenues can be raised for businesses and the government by absorbing these skilled games into the mainstream.

The bill proposed by Menendez would enable the operation of online gambling sites by means of a renewable license for five years. The refusal to issue licenses would be in the power of the Treasury department if it felt that the potential licensees would not match the standards set for financial ability, honesty, integrity and experience. The law proposed by Mr. Menendez would also demand that internet gambling sites ensure that age and address are verified and that fraud and money laundering are prevented by security regulations.     

The Native and State regions not wishing to be included in the system are to be considered unlawful and should reject business from such regions. Mendez further claimed that the bill’s safety advantages are especially central to the issue. Children become addicted to unlawful gambling sites is a worry for parents and thousands of Americans have reaped on these sites millions of dollars. In conclusion he stated that with acceptable regulation underage youths can be prevented from participating in internet poker, while the legal operations can be approved, the illegal ones should be cracked open.

Posted on: August 30, 2009

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