I was playing in a friendly game of poker with my friends the other day when one of them brought up online poker. Now I have had my fair share of experiences playing online poker and I have made a very small profit playing poker online. So when my friend told me about this new law that Congress has passed, I was a little shocked. What am I talking about? Read on and I will tell you.
A couple of days ago in the middle of October Congress passed a law that prohibits people under 21 from playing online poker for money. This means that you cannot deposit any more money into a bank account set up to play and gamble for money in online poker sights. If you have an existing account already set up with a poker sight, then you can continue playing for money and still win or loose money. However, you cannot deposit any more money into an account with an online poker sight. This means that if you have $100 in an account with an online poker sight like Poker Stars and you loose all your money, you cannot deposit any more money into the account. Anyone new to online poker cannot deposit their money either.
Most poker plays in fact have not heard of this Congressional law being passed. I blame the Republicans since not only am I a biased democrat, but Republicans are very right wing conservative when it comes to issues of morality. Republicans have dealt with gay marriage issues in Congress and gambling is no different.
I didn’t event know about this ruling until my friend pointed it out to me. I decided to check it online and I proceeded to read the legislation passed against it. The bill was signed into law on October 4 and becomes effective immediately. Many online poker stars have suspended operations indefinitely until they can adapt to the new legislation and prevent people under 21 from setting up accounts with their online sights.
In the legislation that has been passed, any employer or online gambling owner or sight will be prosecuted and heavily fiend for not abiding to the law. Another ripple effect that this legislation will have on the American society is that online gambling sights will explore new markets overseas. They will bring their gambling operations to Europe and
Asia to stir up more money.
Minors under 21 will have to be refunded their deposits and their winnings immediately which hurts some gambling sights. In addictive gambling games, the house usually wins sooner or later and players that are up on profit will take away great sums of money.
Another factor in the legislation is that online gambling sights will no longer be able to advertise on television, in newspapers or magazines or in any other mass media outlet. Gambling advertisement has been banned permanently. The World Series of Poker which has seen the amount of people who enter into the tournament increase every year, will for the first time in its history see a decline in players and the payday for first place which has also increased every year will also decrease.
The bill is called the Anti-Gaming bill and a Safe Port Act has also been passed which has nothing to do with security at all. This Act also makes it illegal for banks to send wire transfers of money to poker sights. Congress has earmarked 3.4 billion to enforce this new legislation. President Bush must also sign this bill into law which almost every legal analyst expects him to do.
Lawsuits are expected by the hundreds and Poker Palyer Alliance President made a public statement last week about pending lawsuits that will be filed immediately in an attempt to overturn this legislation and bring it to the United State Supreme Court to overrule it.