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CALIFORNIA CAN MAKE MILLIONS OFF ONLINE POKER
Posted 2/16/11 : One of the proponents of licensed and regulated internet poker in California reminds politicians of the numbers
With the prospect of regulated online gambling at state level growing in New Jersey, Florida and California, the US media again aired the thoughts of the Morongo band of Mission Indians this week.
The Morongo are in a strong alliance with Californian land card rooms titled the California Online Poker Association, which is supporting one of two legislative and competing attempts to introduce licensed and regulated internet poker in the state.
COPA, a group of 29 tribes and 13 non-Indian card clubs, is supporting a bill introduced by Sen. Lou Correa, in which the state could reap $1 billion over 10 years.
Robert Martin, chairman of the Morongo rolled out numbers from the Blue Sky Consulting Group and the Center for Strategic Economic Research showing that
if Internet gambling was legalised in California, the state could see around $81.5 million in new annual revenues comprising:
Revenue from fees, $45.2 million.
Income taxes on net winnings, $24.1 million.
Corporation tax on profits, $1.3 million.
Indirect tax revenue on employee wages, $720,000.
Taxes on indirect economic effects, $10.2 million.
“It's big business,'' Martin told the annual California Nations Indian Gaming Association conference.
“This (Internet gambling) industry generates $13 billion annually, and that's all going offshore,'' he told the The Desert Sun newspaper. “Today, 2 million people play each week. It's a huge market, and it's illegal. Not a dime out of that money comes back to the state.”
With a $25.4 billion deficit, California could use the cash.
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Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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