Good new Bill for Ca.

dj11

dj11

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Complete text of AB 2863;

http://www.leginfo.ca.gov/pub/15-16/bill/asm/ab_2851-2900/ab_2863_bill_20160219_introduced.pdf

IMHO, this is pretty good. It covers almost everything we players, as consumers, have concerns about.

I do wonder why and if $60 mil a year should go into The Horse Racing Association fund (NOT in existence until the Bill passes) to cover the pensions for old Jockeys and all other Racetrack employees who took those jobs never expecting a pension.

That provision is covered in Section 1. With another mention of it in Section 2.

Section 2 and beyond are the meat of the issues, and as I read it (deeper than a scan, not so deep as to be considered thorough) I was happy that it really did have customer/ consumer protections in it.

As for that $60 mil, it would not directly come from us players, but via rake and tourney fees. It reads that the Horse Racing Association gets at Least 50% of the gross gaming revenues, up to $ mil PER YEAR!

I would love for someone to make the case for that provision.

Else, we night have a winner here.:D
 
MrPink514

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I really hope you guys in the US can eventually get all this stuff sorted out. And this seems like a step in that direction. Fingers crossed.
 
Aceplayer55

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Doing this state by state (i.e. - half-ass) really sucks. Some states may never get it. Also it means the sites have to pay up for each state, resulting in higher rakes. And taxing one industry to save another is just plain wrong and amounts to extortion.

That said, I hope it passes.
 
dj11

dj11

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A day after reading this and that $60 still baffles me. It suggests a payoff for Horse Racing to get the *&$% out of the game.

Horse Racing in Ca. has always been weird. It is a dying industry. They have wanted to get into casino gaming since I was a kid, long long ago. I have no good idea why they were prevented from doing that, but it might have been some shady doings long ago. That is mostly a guess, but sort of fueled by long distant memories of things that did not affect me then, nor now.

Suppose a new player got in. Say 7-11 or Western Union. Both would want to be involved in the money handling issues. And both make sense, sort of. Are they worth another $60 mil a year to keep out of the biz?
 
dj11

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I should add in here that at least one Horse Track that I know of has gotten into the Poker Biz. Hollywood Park was a great Horse Racing track for a long long time. At some point they built and AFAIK, still control the Hollywood Park Casino. They tore down the racetrack and are building a stadium for the Rams there.

Casino's in California, by and large only deal with card games; Poker, blackjack, and PaiGow with some baccarat. Tribal casinos do apparently have slots.
 
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skaterick

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many other states will watch + study the California experiment , if it ever gets up and running .
 
curtinsea

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A day after reading this and that $60 still baffles me. It suggests a payoff for Horse Racing to get the *&$% out of the game.

Horse Racing in Ca. has always been weird. It is a dying industry. They have wanted to get into casino gaming since I was a kid, long long ago. I have no good idea why they were prevented from doing that, but it might have been some shady doings long ago. That is mostly a guess, but sort of fueled by long distant memories of things that did not affect me then, nor now.

Suppose a new player got in. Say 7-11 or Western Union. Both would want to be involved in the money handling issues. And both make sense, sort of. Are they worth another $60 mil a year to keep out of the biz?

The state of CA subsidizes the horse racing industry, and the $60 million is yet another subsidy. The effect is that it will be revenue neutral to the state, because CA won't collect $60mm a year in taxes from ipoker for many many years, if ever
 
curtinsea

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As for that $60 mil, it would not directly come from us players, but via rake and tourney fees. It reads that the Horse Racing Association gets at Least 50% of the gross gaming revenues, up to $ mil PER YEAR!

I would love for someone to make the case for that provision.

Else, we night have a winner here.:D


The $60 million comes from taxes. There will still be additional fees to cover the cost of regulation.

Bottom line, all fees and taxes paid by a company ultimately come from the pockets of its customers. While the $60mil doesn't raise the taxes per se, the taxes are going to be pretty high, and operators are going to rake you plenty
 
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Yep causing less winners than before and speed pokers dying process up.
 
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