As an American who loves his country, this is great news.
As a poker player, this is bad news.
Why? They plan on taxing the companies out of business, or close enough to it. Take operating costs (enough hardware and up to date software to run tens of thousands of tables to hundreds of thousands of players at a time), the pennies on the dollar they're making, the countless spreadsheets and databases and programs and archives and hard drives and computers they need to do what they do.
Factor in web support, lawyers, telephone support, advertising agents, sponsored players, accounting staff, money launderers who go pick up the cash in costa rica, and various partners, such as neteller
Now, if online poker is making over $72 billion in a decade, I'm thinking about going back in time to start up pokerstars
. Assuming they invest with money they hold in accounts, which I'm sure would be against regulation, they stand to lose even more money.
The politicians are surely going to have dollar signs in their eyes, and while the super user account scandal of AP/UB will have more serious federal repercussions, not that the average consumer would gain any protection.
I'm guessing online poker has consistantly been a profitable business because players are able to get in there and play, whether it's in the US or outside of it. It's an excellent service, and the silly restrictions put on US players are easily circumvented.
The legislation is a little too little and too late.
It would have been great say... A decade ago. But now your online poker sites are fat and greedy. And such a license makes no sense for them to pursue. Just leave your servers in south america, and make depositing tricky for US players. Easy enough.