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Full text of Reid/Kyl federal online poker bill has leaked Full text of Reid/Kyl federal online poker bill has leaked

10-22-2012 , 01:58 AM
Quote:
Originally Posted by SuperSwag
Just curious but why is sports betting so hated by our government?

I've never bet on sports but it seems to be extremely limited in our country. I know they passed that thing in 1991 but I just don't understand why they are so strict about it.

sorry for derail, but it does mention no sport betting allowed in the cliffs
Because the major sports leagues are hypocritical and want to pretend that sports betting doesn't drive interest in their games.

On the same token, they have a ton of money and aren't afraid to throw it around to your favorite politician. So they get what they want.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 02:04 AM
Quote:
Originally Posted by KleanMachine
All I know is this, I'm a Democrat and I've always felt the Dems were the party most in support of personal freedoms. From 2008-2010, the Democrats had control of the House, the Senate and the White House, essentially complete control to pass a bill legalizing online poker, but they didn't get it done. To play at PokerStars I have to go to Mexico, what a pain in the ass. Obama and the Federal Judges cracked down on online poker and I'm still pissed. Because of this, Obama doesn't get my vote...period.

As far as the Poker Players Alliance, they've been completely ineffective. When the PPA started we could play at PokerStars and PartyPoker. Now it's Bovada and Carbon, what a joke.

I'm tired of hearing empty promises about legalizing online poker.
Well, your other options are:

1. Vote for a guy who isn't afraid to try and impose his religious beliefs on others (and hates gambling) and whose political party has it a part of their platform to ban all forms of internet gambling.

2. Vote for a 3rd party candidate who can't win

I'll gladly take option 3, the guy who isn't doing us any favors, but probably wouldn't stand in our way if something got done.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 05:28 AM
Quote:
Originally Posted by Smokey_The_Bear
Yep, keep holding out for a dream bill. They'll have to break down and give in to our demands at some point right!?
Merge/Bovada/Revolution> Reid/Kyll bill 15 months of a complete online poker blackout is unacceptable and DOES NOT need to be included in any bills
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 10:01 AM
Quote:
Originally Posted by conebone69
regarding this bill,i think russ foxx said something like depending on which state you live in and its online gambling laws. if you win $1mil and lose 950k, you would owe taxes on 1mil instead of 50k. that means no more counting net winnings at the end of the year even if you file as a pro. can someone confirm this?

and what is california's current laws regarding this?
This can't possibly be true, can it???
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 10:17 AM
Quote:
Originally Posted by LegalEyesIt
This can't possibly be true, can it???
It's true.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 10:41 AM
Quote:
Originally Posted by LegalEyesIt
This can't possibly be true, can it???
someone has to provide this part of the text, if you are paying taxes on your total "cashes" and not "profit", i don't see how anyone could make a living at poker (say 500k cashes in a year, 100k profit; pay 20% taxes on 500k= 100k, lol) There's just no way the PPA could let something like that get in there
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:04 AM
We would only be able to play against other US players.

No swedes?
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:06 AM
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:07 AM
Quote:
Originally Posted by The_Dean221
someone has to provide this part of the text, if you are paying taxes on your total "cashes" and not "profit", i don't see how anyone could make a living at poker (say 500k cashes in a year, 100k profit; pay 20% taxes on 500k= 100k, lol) There's just no way the PPA could let something like that get in there
fwiw it was the same way in sweden before they changed it a year ago. But it didn't really matter, in practise they just took 30% of actual winnings anyway.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:12 AM
Quote:
Originally Posted by repulse
It's true.
Yeah? How you gonna make money playing online then? Can someone with actual knowledge please elaborate on this?
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:28 AM
Quote:
Originally Posted by ahwhapimdone
Merge/Bovada/Revolution> Reid/Kyll bill 15 months of a complete online poker blackout is unacceptable and DOES NOT need to be included in any bills
a legitimate, safe, online poker environment will attract so many rec players we'll be drowning in them. I'll do 15 months standing on my head, saying thank you massah
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:39 AM
the people protesting these bills are always kinda funny considering the games have continued to deteriorate each new time a bill is proposed. the last time we were hoping for a new bill to get passed that had a blackout period, the people in the know were saying things would get a lot worse... and yeah, then black friday happened. now we have people saying lets just keep bovada, merge, revolution, ok how about nothing? i always get visuals of ex-online grinders flipping burgers at mcdonalds somewhere and hearing about a new non-perfect proposal of a bill to regulate online poker and they just say "omgomgwtFFF!! 2 month blackout period! no hud!?!?!? no thank you, DO NOT WANT" while they go back to collecting a $137.45 paycheck.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:39 AM
Quote:
Originally Posted by PokerXanadu
State Opt-Ins

States must opt-in to participate, by vote of their state legislature. The vote must be by “a majority of a quorum of each chamber of the legislature”. This is not the same as a majority vote of each chamber, as it would take only a majority of those congresscritters attending the voting session to pass it. Also note that the opt-in provision does not require that the state bill or resolution is also signed by the state governor to take effect.

Once a state is opted in, it would take a similar state vote to change to opt out status.

A state cannot pass its own law that changes any of these terms of opting in or out.
Now that's some interesting information. I wonder how that's going to go over. I imagine a number of governors are not going to take kindly to that. Including Rick "The Veto Man" Perry.

I still find required opt-in to be a non-starter for me. Seems to make the bill into a wolf in sheep's clothing. "Here you get legal poker. Just kidding only like 5 states opted-in we got the 100% ban we were looking for in 45 states. Suck it freedom."
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:41 AM
I still find it sad that we have to beg the government to give consenting adults the ability to play a game with THEIR OWN MONEY.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:42 AM
Quote:
Originally Posted by LegalEyesIt
This can't possibly be true, can it???
It is true. It is also true right now without passage of the bill. You are supposed to report your total winning sessions separate from deductions for your total losing session on your federal tax return as an amateur, and can only net them on a Schedule C for a pro. State tax law in some cases doesn't allow the same deduction for losing sessions. And even the pro may not be able to take the business expense deduction for losing sessions on their state income tax return if state law requires a different method of reporting poker income as gambling income.

Any such state that opts in will obviously have to change the way their income taxes work or no one in their state will play, making the opt in moot. It's already a known issue on the state level.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:49 AM
Quote:
Originally Posted by boobies4me
the people protesting these bills are always kinda funny considering the games have continued to deteriorate each new time a bill is proposed. the last time we were hoping for a new bill to get passed that had a blackout period, the people in the know were saying things would get a lot worse... and yeah, then black friday happened. now we have people saying lets just keep bovada, merge, revolution, ok how about nothing? i always get visuals of ex-online grinders flipping burgers at mcdonalds somewhere and hearing about a new non-perfect proposal of a bill to regulate online poker and they just say "omgomgwtFFF!! 2 month blackout period! no hud!?!?!? no thank you, DO NOT WANT" while they go back to collecting a $137.45 paycheck.
What does this even mean? Btw, DO NOT WANT a 15 month blackout period. BBL after i get done flipping some burgers.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 12:36 PM
Quote:
Originally Posted by ahwhapimdone
What does this even mean? Btw, DO NOT WANT a 15 month blackout period. BBL after i get done flipping some burgers.
wait, I'm confused. do you or don't you want a 15-month blackout in the bill? cause it's up to us. we're in the driver's seat wrt writing this bill, and if we even threaten to pull support for it, the prohibitionists will scramble to appease us.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 01:00 PM
This brings flashbacks of the last bill that was trying to get passed that had a blackout period and how people thought it was outrageous and they wanted to hold on to the grey area status quo that was FTP/PS at the time.

You'd think that with black friday people would know better but it's amazing to me that people would want to hold on to merge/bovada/revolution instead of a 15month blackout, way to lower the bar imo. Really reminds me of shifting comparisons addressed in this TED Talk (especially strating at 18:03)
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 01:58 PM
Quote:
Originally Posted by LegalEyesIt
Yeah? How you gonna make money playing online then? Can someone with actual knowledge please elaborate on this?
I mean, you're not, if you live in a bad tax state. The effect can be at least partially mitigated by playing very long sessions, but, depending on other conditions, state taxes could still be an arbitrarily large percentage of real poker earnings.

In practice, the vast majority of poker players currently choose the felonious route of not reporting their poker income. Forced reporting under future US licensing will have tremendous effects on the poker economy.

Hopefully, once the entire population of any given bad tax state is forced into compliance and the first few thousand casual players get their 4-figure tax increases from a losing year of poker, something can happen to fix the rules that are in place. There is no clear rational basis for these rules being the way they are. These are rules that happen to work fine enough for traditional gambling that just don't really fit for competitive strategy games like poker.

Everything is fixed (as far as within-year stuff) if an entire year of poker play is defined as a single session.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 02:30 PM
Quote:
Originally Posted by NoKlue1234
If this doesn't push people to keep/start doing the Daily Action Plan that Rich Muny creates for us, I don't know what will. Take the extra 2 minutes and keep contacting our Reps!!
seriously people. take the time its worth it and it really does help.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:21 PM
Quote:
Originally Posted by DrMickHead
I still find required opt-in to be a non-starter for me. Seems to make the bill into a wolf in sheep's clothing. "Here you get legal poker. Just kidding only like 5 states opted-in we got the 100% ban we were looking for in 45 states. Suck it freedom."
They are actually protecting freedom. States rights. The Federal government cannot usurp the power of the states to outlaw gambling. They can make it legal at the Federal level. They cannot mandate the states allow it. If you are waiting for that to happen, you'll be playing games for cash at King.com for the rest of your life.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-22-2012 , 11:41 PM
I am not sure if this should be supported or not. There does seem to be some issues that need to be sorted before this bill is indorsed by the players.

interesting article I read tonight

http://www.kickasspoker.com/2012/10/...reid-kyl-bill/
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-23-2012 , 01:52 AM
After looking into more, the article seems a little harsh and possibly misleading. I just hope that the current players will be protected and that the playing markets will be at least national.
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-23-2012 , 01:58 AM
Just read this, thank you PPA (and Rich Muny):

Additional details on the bill have emerged and the PPA has acquired a copy of a new draft, one that has removed the language regarding player penalties. “It’s very clear and explicit that there are no criminal penalties for players,” Rich Muny, VP of Player Relations for the PPA, told PokerFuse about the new bill, which QuadJacks posted online in full. “They knew we would likely oppose a bill with player penalties and were willing to answer us on that.”

Read more: http://www.pokernews.com/news/2012/1...nt=#story-5046
Full text of Reid/Kyl federal online poker bill has leaked Quote
10-23-2012 , 02:27 AM
well sure if you don't count asset forfeiture as a penalty.
Full text of Reid/Kyl federal online poker bill has leaked Quote

      
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