California, here it comes?

diablo8

diablo8

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This is great. I hope New York jumps on the same wagon soon.
 
Propane Goat

Propane Goat

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Knowing California, if and when we finally do get legal OLP the taxes and fees will be so high that you have to be in permanent god mode just to break even.
 
XXPXXP

XXPXXP

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Knowing California, if and when we finally do get legal OLP the taxes and fees will be so high that you have to be in permanent god mode just to break even.

the cash table rake maybe but the tournament table rake...is not that high
tax might be a problem, depends on if you have a good accountant to handle the case of tax.
 
Kenzie 96

Kenzie 96

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Knowing California, if and when we finally do get legal OLP the taxes and fees will be so high that you have to be in permanent god mode just to break even.




Worry not, the moonbeamer will only take what he needs & you know he will spend it much more responsibility than you would.:deal:
 
dj11

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Worry not, the moonbeamer will only take what he needs & you know he will spend it much more responsibility than you would.:deal:

Hey! Don't be dissing our Governor! :mad:
 
curtinsea

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If you hadn't heard, the hearing went not so well as predicted. There wasn't even a vote. That is not to say the issue is dead (again), there should be new action again next week. Likely we will see the bright line of the suitability language pushed back to 2006, and then it will be the pokerstars coalition opposing the bill.

The idea that this could be pushed through over the objection of Pechanga et al proved not to be the case.

At some point we need to ask ourselves . . . . is Pokerstars worth waiting for, perhaps forever, but certainly more years (remember we were oh so close two years ago until Pokerstars announced their coalition and put the kybosh on that effort), or do we as players say give us regulation now and let Pokerstars fight for a place later?

If you are in a state dominated by Tribal gaming, this issue will stand between you and legal online poker as well
 
curtinsea

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Knowing California, if and when we finally do get legal OLP the taxes and fees will be so high that you have to be in permanent god mode just to break even.

Worry not, the moonbeamer will only take what he needs & you know he will spend it much more responsibility than you would.:deal:

The money CA will get from online poker has all been promised to horse racing, to the tune of $60mm/year.

To put that in perspective, IF the CA market generates $300mm in revenue (it won't the first year, but by second or third we could see it), it would take a 20% tax rate to get the $60mm promised the Tribes.

That is what you're facing in CA. Sound like a terrible idea? It is, and it will only take 1/3 +1 of either chamber of the legislature to oppose to kill the bill
 
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