Originally Posted by :::grimReaper:::
Questions (sorry if they're answered):
1) When will this be voted on and how long until it's officially passed?
2) IIRC provisional licenses will be given. How long would it take to draft a provisional license?
3) How long would it take to attain a provisional license after legislation is passed, and therefore deal the first hand?
1. The bill has to go through the normal legislative process of committee hearings and votes, floor votes and governor's signature. How quickly it proceeds will be at the discretion of the CA Congressional leaders. The new fiscal year for CA starts on July 1, so my guess is that the bill sponsors intend to get this bill through in the next 3 or 4 months.
2. Theoretically, immediately upon the bill becoming law. But they'll probably do some regulation and forms development first, plus the casinos/cardrooms/horsetracks/OTBs have to work out their alliances and deals with the site providers get their paperwork done to submit an application. I'd put this at late 4th quarter 2012 or 1st quarter 2013.
3. Obtaining a provisional license and dealing the first hand won't be simultaneous. Once the provisional license is granted (see #2), the site then has to build their system inside the state of CA, get it tested, inspected and approved by the state. This may take a few months more. First live hands dealt: late 2nd quarter 2013, imo (assuming passage of the bill this spring).
EDIT: Just noticed that I missed this provision in the bill:
b) All initial licenses issued pursuant to this chapter shall take effect on the same date, as determined by the department, but not later than January 1, 2014.
So my guesstimate of first cards in the air late 2nd quarter 2013 is probably right.
Originally Posted by kowboys4
the first thing that pops out to me is the 30 million liscencing fee. That is a lot of money for a poker site in California. You better be damn sure your going to make 30 million if you are going to try and open one up.
The $30M is not a licensing fee. It is an advance payment against the first three years of the 10% site revenue taxes.
But yes, this is a hefty sum to invest in advance. On the other hand, if CA were an independent nation, it would be the eighth largest economy in the world. I think the poker sites/networks will be falling over themselves in their scramble to get a CA license (as suppliers to the CA casinos/cardrooms/horsetracks/OTBs), as it will be their best foothold into the new US regulated i-poker market.