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Legislation for Poker & Income Taxes for Poker Players Discussions of various poker-related laws and steps players can take to push for better laws.

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Old 03-20-2020, 07:28 PM   #1
MBS
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Coronavirus is an opportunity for online poker

At the risk of seeming insensitive, it should be pretty obvious that any online business has an opportunity to thrive during this period of social distancing that is occurring throughout much of the world, and specifically in the United States, right now.

This includes online poker.

As fewer and fewer people visit brick-and-mortar casinos each day, a smart and capitalizing politician/company/organization should be able use this opportunity to introduce legislation for online poker.
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Old 03-21-2020, 06:01 AM   #2
PokerXanadu
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Re: Coronavirus is an opportunity for online poker

I expect to see it happen in some states, especially if casinos remain closed for an extended period. Indian tribes, which are the driving force behind gambling legislation in many states, may reverse course to emphasize online gambling venues rather than their prevalent current stance that online jeopardizes their casino traffic, as some of the casino corps have already done. This will also open up the door to federal legislation, but that would still take many years unless this pandemic leads to a loggerhead shift in the social paradigm, where social distancing and "stay-at-home" attitudes become the norm.
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Old 03-22-2020, 02:03 AM   #3
Gzesh
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Re: Coronavirus is an opportunity for online poker

Quote:
Originally Posted by PokerXanadu View Post
I expect to see it happen in some states, especially if casinos remain closed for an extended period. Indian tribes, which are the driving force behind gambling legislation in many states, may reverse course to emphasize online gambling venues rather than their prevalent current stance that online jeopardizes their casino traffic, as some of the casino corps have already done. This will also open up the door to federal legislation, but that would still take many years unless this pandemic leads to a loggerhead shift in the social paradigm, where social distancing and "stay-at-home" attitudes become the norm.

I think it will, but not in those terms. rather, the remote, socially distanced activity will become a norm in its own right .... an evolution well under way before there was any pandemic.
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Old 03-22-2020, 07:40 AM   #4
HurtLocker
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Re: Coronavirus is an opportunity for online poker

Quote:
Originally Posted by MBS View Post
At the risk of seeming insensitive, it should be pretty obvious that any online business has an opportunity to thrive during this period of social distancing that is occurring throughout much of the world, and specifically in the United States, right now.

This includes online poker.

As fewer and fewer people visit brick-and-mortar casinos each day, a smart and capitalizing politician/company/organization should be able use this opportunity to introduce legislation for online poker.
"Let me tell you something about hope my friend. Hope is a dangerous thing. Hope can drive a man insane." - Red in Shawshank Redemption
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Old 05-05-2020, 10:48 PM   #5
OvertlySexual
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Re: Coronavirus is an opportunity for online poker

I was just reading that Maryland lost 60 million in revenue due to casino closures and this figure is bound to grow.

Online poker legislation seems like a no brainer for states facing budget crunches.

I searched for a thread like this and I surprised it's only 4 posts long.
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Old 05-10-2020, 08:27 PM   #6
Gamerson99
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Re: Coronavirus is an opportunity for online poker

How big are we even talking here in terms of a potential industry? Agree it's an opportunity for states but would it be large enough of a gain to push something through short-term? Of that $60M lost in Maryland from casinos... what % of that is from poker. I just can't imagine it's that large.
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Old 05-17-2020, 06:44 AM   #7
Gzesh
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Re: Coronavirus is an opportunity for online poker

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Originally Posted by Gamerson99 View Post
How big are we even talking here in terms of a potential industry? Agree it's an opportunity for states but would it be large enough of a gain to push something through short-term? Of that $60M lost in Maryland from casinos... what % of that is from poker. I just can't imagine it's that large.
If, the marginal revenue is greater than the marginal cost of passing enabling legislation for online poker (and casino) and supporting whatever degree of regulation is imposed, then a State should legalize such activity within its jurisdiction.

That the net revenue from online poker might be less than the revenue that has been lost from shuttered brick and mortar casino operations is NOT the issue.

Why require poker to cover the overall casino revenue shortfall for the State ? Throw in online casino legalization however, and you might actually come close to covering that whole shortfall.
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Old 07-20-2020, 06:37 PM   #8
duecefive
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Re: Coronavirus is an opportunity for online poker

It would be a wise move for states in need of additional revenue. On a side note, I invested in StarsGroup (TSG) prior to the Flutter acquisition and it has worked out nicely. I imagine other investors were seeing the potential for legislation.
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