BREAKING NEWS: New Tax Bill Would Legalize Internet Gambling

JeffreyS

JeffreyS

Enthusiast
Silver Level
Joined
Sep 11, 2007
Total posts
61
Chips
0
We’re thrilled that politicians on Capitol Hill were finally able to put aside some of their differences and create a new bipartisan measure to reform the tax code, which includes a provision to legalize and regulate Internet gambling.

An Act introduced today by Senators Ron Wyden (D-OR) and Judd Gregg (R-NH), is the latest example of growing consensus among Democrats and Republicans over the need to replace the failed attempt at prohibition under UIGEA.

If you’d like more information on the legislation, please visit our web site.

Thanks,

Michael Waxman
Safe and Secure Internet Gambling Initiative
Facebook
Twitter
 
Last edited by a moderator:
Debi

Debi

Forum Admin
Administrator
Joined
Oct 13, 2006
Total posts
74,638
Awards
20
Chips
1,331
This sounds like good news! (potentially anyway)
 
PattyR

PattyR

Cardschat Elite
Silver Level
Joined
Apr 6, 2009
Total posts
7,111
Chips
0
hope this works out! fingers crossed as well!!
 
icemonkey9

icemonkey9

Cardschat Elite
Silver Level
Joined
Jan 17, 2008
Total posts
3,023
Chips
0
Thanks for the update and best of luck.
 
kybcat

kybcat

Rock Star
Silver Level
Joined
May 8, 2009
Total posts
134
Chips
0
Where else can you get more info on this? Hope it goes though.
 
Makwa

Makwa

Undesirable Predator
Silver Level
Joined
Sep 30, 2007
Total posts
6,080
Chips
0
Wow, great news. Can u imagine the boatloads of new fish that will bring? Yee-Haaa!!!! :p:D:eek:
 
ukaliks

ukaliks

Legend
Silver Level
Joined
Nov 22, 2007
Total posts
1,292
Awards
1
Chips
0
Wow, great news. Can u imagine the boatloads of new fish that will bring? Yee-Haaa!!!! :p:D:eek:

I have to agree with this. Lets hope this works out lol. America has had a bad time with that UIGEA thingy.
 
Maid Marian

Maid Marian

RIP Baby BooBoo
Silver Level
Joined
Jun 2, 2009
Total posts
11,645
Chips
0
I'm glad that this may work out...but government intervention may be a nightmare!:rolleyes:
 
bazerk

bazerk

Legend
Silver Level
Joined
Nov 18, 2009
Total posts
1,091
Chips
0
I'm glad that this may work out...but government intervention may be a nightmare!:rolleyes:

^^ I was scared when I read the name of the legislation >> the Bipartisan Tax Fairness and Simplification Act of 2010...um, any time there's an IRS Tax Code Reform it is a nightmare (but it does ensure continuing employment into perpetuity for those who have to work with the Code :p). BTW, I'm referring to the overall legislation ^^ not the portion specific to legalize & regulate internet gambling; we all knew the latter was gonna happen, the Feds have to fund Health Care Reform somehow.
 
Pbland

Pbland

Rock Star
Silver Level
Joined
Nov 4, 2009
Total posts
371
Chips
0
True, legalizing internet gambling will bring in a TON of new players, which gives experienced players a lot more opportunity for easy money, but I have to agree with Maid Marian that government intervention might be bad. Plus, there will continue to be rake and then I assume a tax on winnings, which could be something like 10-35%. Having a positive ROI will really become difficult. I don't know about this, still on the fence.
 
WVHillbilly

WVHillbilly

Legend
Silver Level
Joined
Nov 7, 2007
Total posts
22,973
Chips
0
There is rake now and those of us who abide by the law already pay our taxes.
 
Exit141RTe1

Exit141RTe1

Legend
Silver Level
Joined
Oct 7, 2007
Total posts
1,151
Chips
0
I think I am not holding my breath. It would be interesting to see what "pork" gets attached.

All's good in good old DC!
 
U

Uribam

Enthusiast
Silver Level
Joined
Jan 26, 2010
Total posts
32
Chips
0
I don't see it going well. I see new tax form W2-G(I) and people who live off poker online and playing high stakes being audited for owing back taxes. I'm sure it'll be ok for people like me. I'm also sure for people who are much better than I am it won't be ok. Anyway, nothing we can do but see what happens.
 
CheeseConey

CheeseConey

Rock Star
Silver Level
Joined
Jul 25, 2008
Total posts
304
Chips
0
With so many of these bills floating around on Capital Hill, hopefully one of them can get passed this year.
 
Ice Wolf

Ice Wolf

Legend
Bronze Level
Joined
Aug 9, 2008
Total posts
1,008
Awards
1
Chips
0
Yessss. Maybe in the next few years I will be able to play on some of the awesome websites like Titan and PKR which US players are currently banned from.
 
wsorbust

wsorbust

Cardschat Elite
Silver Level
Joined
Apr 17, 2006
Total posts
2,425
Awards
1
Chips
1
Self-Employment taxes are what some of us are claiming on the tax returns to begin with? If they want to add a bonus tax on top of that they might be off their rocker. This will cause pro online clickers to go to a real casino. Then there's a choice to be made: Being raped by outrageous socialist taxes, or by real, new, and old-school pro players who have real talent. The best will survive/remain = good for poker.
 
joeaugie

joeaugie

Enthusiast
Silver Level
Joined
Jan 16, 2007
Total posts
66
Chips
0
Hmmmmmm

I think it would be amazing if it were legalized and not over-regulated, but seems too good to be true.

Loooooong way to go.
 
illphillllllll

illphillllllll

Rock Star
Silver Level
Joined
Feb 24, 2009
Total posts
364
Chips
0
nice to see its coming along. still not gonna get excited until it finally gets passed into law.
 
StormRaven

StormRaven

Cardschat Elite
Silver Level
Joined
Mar 16, 2009
Total posts
2,510
Chips
0
Great News indeed! TY for sharing!
 
Poker Orifice

Poker Orifice

Fully Tilted
Platinum Level
Joined
Jan 19, 2008
Total posts
25,596
Awards
6
CA
Chips
968
Yessss. Maybe in the next few years I will be able to play on some of the awesome websites like Titan and PKR which US players are currently banned from.

Then again... maybe none of them will exist for you and you'll be playing solely on "Eagle Gaming". I'd be concerned about it w/o the details. Personally I like it just the way it is here in God's Country.
 
Related Gambling Guides: AU Gambling - CA Gambling - UK Gambling - NZ Gambling - Online Gambling
Top