April 25, 2016 at 3:16 pm
While we all want to think there could be $60 mil left over once OLP is anchored in Ca. we really have no idea that it will make enough to cover the $60. If it can’t who gets stuck with the bill? Players. In the form of rake or tourney fees so big that no one partakes of the game online.
Come on Tribes and Casino’s you can work this out to make everyone happy. Just consider that if 7-11 wanted in (by law), what would you do?
Try considering the problem from the players POV. Players want accountability, consumer protections, and variety, a consistent set of rules for the games, and some recourse when things don’t go according the Hoyle.
The HRA’s biggest argument for being involved might be their history with moving money via betting. Well, check cashing businesses do that on a bigger scale. Gonna let then get in too?
I give thumbs down to this version.
So the $60 Million is going to come out of the state's tax receipts, assuming it even takes in that much. Based on good information, $60 million is likely the most in taxes CA will ever see in a year, with all of it going to the tracks.
There will be additional 'fees' the sites will have to pay, to cover the costs of regulation.
There was an amendment added to the bill last week in advance of the hearing on the 27th (I think) that insists that a criteria for suitability is established before online poker can go live. This is an attempt to appease Pechanga on the 'bad actors' issue, perhaps it even will.
All that said, I don't see any reason at all why Pechanga would agree to creating an online poker market in which only Pokerstars
, and to a lessor extent its partners, can make any money. Not one.
And as this bill will (eventually, maybe) need 2/3's of the legislature to approve, I think Pechanga is in a position to stop it from happening.
As long as Pokerstars insists on operating as competition rather than as a supplier, there is no reason at all for tribes to support online poker legislation, anywhere.
This is my firm belief