California Moving Closer to Regulated Online Poker
While New Jersey, Nevada and Delaware all have a regulated online gambling industry, their combined population is just 12.54 million. California has a population of 38 million and some of the best land-based poker rooms in the world.
The population of California gives it a huge advantage. If it were to regulate online gambling there wouldn’t be liquidity problems as there is in smaller states. Furthermore, the size will also help solve issues such as deposit methods as it would get the attention of the banks.
Two bills came out in February to regulate peer-to-peer online poker. The bills would allow intrastate poker but would not allow for casino games or player pooling with other states.
New Jersey is on track to bring in about $40 million this year in online gambling revenues. However, with a far larger population California should be able to pull in much greater revenues. Hundreds of millions of dollars could be generated each year of which a significant portion would go to state coffers.
It was recently reported that Californian tribes have reached a consensus on draft legislation and that it could pass the session ending in late August. If this is the case then online poker may not be too far away for Californian gamblers.