Category Archives: Poker Laws

Online Poker the Savior?

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Could legalizing online poker save the United States economy? Sure why not? Same with the legalization of marijuana. Our country is stuck in the doldrums of an economic crash and our government is essentially printing money. Bad part about it is they are devaluing those dollars. So why do it?

I think this is the perfect time to legalize online wagering. Offer secure online casinos from the legalized gambling companies based here in the United States (MGM, Sands, Wynn, etc.). Have the government or private institutions monitor and publish a security report once a quarter. The casinos can only accept Debit card transfers or Bank wires directly into customer accounts.

I also propose that the casinos take a rake or a very small portion  of the final pot. So once all the initial blackjack bets have been made (before any splits or double downs), the casino keeps 3% and then sends 1% up to the government as a Gambling tax.

Then I also say that your personal gambling winnings are subject to inclusion in  your income taxes. I think you could get around paying a lot of taxes if you could be creative and somehow work it into expenses for an LLC or other corporate structure. In fact there are arguments that exist today that Poker should be considered a game of skill and therefore requires skill to play and should be legal.

There it is folks, the simple and easy way to cure the economic needs of our country, legalized online gambling. Of course a form of it already exists today in the US stock market, buyer beware!

Today’s Poker Player

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Smoke wafts through the poker room in Tama, Iowa at the Meskwaki Casino.  Paul has been a staple for years, just keeps looking more and more older then his age, surely the smoking has taken it’s toll.  But without the Internet and playing poker online, Paul is lost.

Now Paul still gets by at his local Indian casino, he fancies Omaha Hi-Lo.  He’ll jump in and play the occasional hand or two of 7 Card Stud.  But Paul believes, like the rest of us that we should be able to play from the comfort of our own homes.  We’re willing to pay the tax the government requires.  And you know what?  If the tax is too high, no one will play so we’ll still be able to get close to what we want to pay.  The US Senate and the President need to realize that online gambling is what the people want and it can be a great source of money for the federal government should they choose.  Online Poker and Gambling are not harmless but it’s the lesser of two evils when compared to the alcohol use and abuse in the USA.

They tax the heck out of cigarettes, why not tax online gambling and help replenish our national pocketbook?  As a country we’re getting close to accepting gambling and marijuana usage.  Both are relatively harmless opportunities in our lives right now.  If you choose to gamble away your life on the Internet then that’s your choice.  Most of us like Paul plan on making money and paying taxes.

For now until President Obama is ready to act, Paul will keep playing his 4 pm Omaha Hi-Lo game with the boys back at Meskwaki.  He knows that game will be around as long as he wants to play in it, and beyond.