As a result of the confusion and disunity over the existing online poker bill, several US states have taken the matter into their own hands are setting up rules and regulations for the way they wish to have internet poker run in their state. As of now, the American Gaming Association is trying to push the US online poker bill to the floor and is putting some pressure on Congress to pass the federal online poker bill. However, they hope to get it moving by the end of the lame duck session, which many n the poker community are sure will not happen.
Andrew Zarnett, a reputed gaming analyst, does not seem to think much of the possibilities of the US online poker bill passing in the lame duck session. He believes that individual states will take matters into their own hands and end up approving online poker by next year in 2013.
With the likelihood that online gaming does not get passage on a federal basis in this year’s lame-duck session and in the foreseeable future, investors should shift their thinking to what a rollout would look like on a state by state basis…This market will fast become the economic test case for analysis of revenue size, cash flow generation and cannibalization impact as it comes on line
For instance, Nevada gaming regulators have already gone ahead and announced the approval of over 15 companies that are now waiting to be made online poker operators and distributors in the state. However, they are waiting for next year to begin officially functioning.
Other states are following Nevada‘s lead and allotting licenses to suitable gaming and online poker operators. However, until there is the presence of a federal online poker bill, the matters of rules and regulations in regards to taxation will not be set in place.
State compacts, framework providing uniformity of rules across different states, and potential issues arising from Tribal gaming, also need to be sorted out, before Internet gaming can be rolled out successfully
Other problems that the US states might encounter in the near future if not equipped with a good online poker federal bill is the matter of tax revenue distribution and the issue of tribal gaming sovereignty. There has to be a uniformity of regulations where these matters are concerned and US states should not be rushing ahead with poker legislation plans until such matters are resolved.
