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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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