Saturday May 26, 2012 : ILLINOIS ONLINE GAMBLING DEBATE CONTINUES (Update)
State lottery will be at the centre of any legalization of internet poker
The state of Illinois has made surprisingly fast progress on an internet poker legalization proposal submitted earlier this month by Senate President John Cullerton.
Local media report that the lawmakers are already on a third amendment to House Bill 4148, which seeks to set up on intrastate online poker platform regulated and controlled by the state lottery but licensed out to state land casinos and racetracks….for a hefty $5 million licensing fee.
Lawmakers are working on estimates of $105 million in online poker licensing revenues, which the state will share with its licensees. In addition to setting standards and requirements and licensing operators, the state would take responsibility for player financial transactions as things stand at present.
Although the current business model is based on an intrastate regime, the legalization does have provision that would permit inter-state compacts with like-minded states.
Third party vendors offering technology products such as geo-location and ID verification would have to pass stringent assessment.