Hundreds of billions wagered online globally and California casinos want in on the action.
The state of California is heading towards dire economic straits and it's the casinos that are throwing it a lifeline.
According to economists, lawmakers, politicians and Joe Citizen, California is in trouble. Arnold Schwarzenegger's state is billions of dollars in debt and no end appears in sight. At least that was before the leveraging power of casinos weighed in with a mightily tempting offer.
Legalize
Online Poker
The action continues in the same vein as the efforts
being spearheaded in the House by Representative Barney Frank (D-Mass). The
goal of overturning the UIGEA, which prohibits Americans from wagering on
Internet gaming, is indeed paying another visit.
The Morongo Band of Mission Indians and Commerce
Casino are taking their proposals to the state Legislature in January 2010. It
is they who would operate the Internet poker sites if the rulings are made. And
with an estimated $347-billion-a-year global industry, everyone wants in.
Obscure Laws
Americans are not explicitly prevented from playing poker online according to Federal law, but they cannot use financial
institutions to transfer money for the purposes of Internet betting. And both
federal and state laws prohibit Internet-based game from operating on American
soil.
The proposals want to see online poker sites operated within California state lines, but state law gives Indian tribes exclusive rights of operation in exchange for a whopping $361 million in kickbacks. Thus any bill would have to enjoy the support of Indian tribes. If the status quo is not changed, that leaves over 1 million Californians gambling online offshore.
Rocking the Boat
With Indian tribes enjoying exclusivity on
gambling, it is feared that any state regulation in favour of gambling could
see Indian tribes' operations being hurt. At present there are between 300-400
gambling entities able to apply for a piece of the pie.
Blackjack
Slots
Roulette
Baccarat
Craps
Poker
