Originally Posted by imafin
You think this is bad, wait until, if ever, they legalize poker online. Gov. always seems to make the easy hard, they could turn a lifetime long twinkie into a rotten pile of mush.
I've had this battle with several players in the past that keep clicking their heels in hopes that the gov. will see it their way.
You may end up with, few options, too high of stakes and or rakes. For instance California indian casinos in the south part of the state have huge minimums sometimes starting at $25 per blackjack hand.
For some of you thats fine but joe and jane pokermann in a whole wont play those high stakes. Another big problem is politicians greed, dont be surprised to see $10 minimum tournaments with a 2 or even 2.50 fee.
While that's all a concern, and I don't mean to minimize it at all; I'm far more concerned about the taxes you'll inevitably face as you try to withdraw your winnings. Can anyone really afford to pay something like a 30% or so tax on their winnings IF they are fortunate enough to win in the first place?
In a "sport" where something like 80%+ of the players are aleady losing players to begin with; this will virtually eliminate any profits that the portion of players who are only marginally winning players now enjoy. That's gonna leave only the "crushers" as enjoying any true winnings and, eventually, I fear, will kill online poker as, say, 90%+ of people realize that, with the onerous taxes, there is just little money left to be made unless you are at the top of the heap.
Hope I'm wrong....... I wouldn't mind an up-front tax so much (taxed as you deposit) and then any winnings are free and clear, but I just don't think it'll pan-out that way.