Menendez Releases Online Poker Bill

In America, Senator Robert Menendez has introduced a bill that would, if passed, legalise and regulate games of skill such as online poker in exchange for a ten percent tax on licensees’ monthly deposits.

The New Jersey Democrat unveiled his Internet Poker And Games Of Skill Regulation, Consumer Protection And Enforcement Act late last week, which cites poker, bridge, mahjong, backgammon and chess as examples of games where a player’s skill dominates the result.

“While each of these games contains an element of chance over any substantial interval, a player’s ultimate success is determined by that player’s relative level of skill,” reads the proposed legislation.

Officially known as Senate 8309, the Menendez bill calls for a continuance of laws against online sportsbetting, which makes it similar to Congressman Barney Frank’s measure in The House of Representatives. Frank’s measures would establish a licensing and regulatory framework for the American online gambling sector and has 54 co-sponsors so far.

“Poker is part of the cultural and recreational fabric of the United States and has been since the founding days of the United States,” reads Senate 8309.

“United States poker aficionados have included Presidents, judges and statesmen.”

The proposed legislation would make the Treasury Secretary responsible for overseeing the licensing process and fashioning regulations. License applicants would be required to submit a comprehensive financial background alongside an outline of the company’s structure and that of its affiliates. In addition, applicants would have to undergo criminal and credit history checks and reveal how it would combat underage and compulsive gambling. Finally, licensees would have to convey how they would make any games on offer fair with all customers required to be at least 21.

Licenses would run for five years with a renewal procedure while operators would pay Federal and state tax at a rate of five percent each month for each. Unauthorised gambling would be subject to a 50 percent fee while each site would be required to institute list of ‘persons self-excluded from gaming activities at all licensee sites’.