My proposal:
Regarding all online gambling where it is player vs the house (corporate entity):
Let states decide how to regulate. This includes all games like roulette, craps, blackjack, slots, sports betting where the house is the book, etc. New Jersey has already decide they will let you pretty much bet on anything you want from the comfort of your own home. Allow states to tax revenues. There is no benefit to a network of people. This is like any casino. They make money when you lose money. They should be taxed at a higher rate if policy dictates you want to decrease gambling or use funds to treat gambling addicts.
Regarding Player vs Player games where money is bet and the corporate entity takes fees to host (these include fantasy sports, poker games and tournament, player vs player blackjack elimination tournaments, etc.) We need federal regulation that creates a framework of laws to punish cheaters, track money trails to prevent money laundering, hold corporations accountable, and prevent & treat underage and problem gambling. Poker is a large industry in the world and peer to peer games will only continue to grow in the future. Peer to peer games benefit from the network effect. The more states and countries involved in the networks, the better the prize pools, variety, and liquidity.
Regarding all online gambling where it is player vs the house (corporate entity):
Let states decide how to regulate. This includes all games like roulette, craps, blackjack, slots, sports betting where the house is the book, etc. New Jersey has already decide they will let you pretty much bet on anything you want from the comfort of your own home. Allow states to tax revenues. There is no benefit to a network of people. This is like any casino. They make money when you lose money. They should be taxed at a higher rate if policy dictates you want to decrease gambling or use funds to treat gambling addicts.
Regarding Player vs Player games where money is bet and the corporate entity takes fees to host (these include fantasy sports, poker games and tournament, player vs player blackjack elimination tournaments, etc.) We need federal regulation that creates a framework of laws to punish cheaters, track money trails to prevent money laundering, hold corporations accountable, and prevent & treat underage and problem gambling. Poker is a large industry in the world and peer to peer games will only continue to grow in the future. Peer to peer games benefit from the network effect. The more states and countries involved in the networks, the better the prize pools, variety, and liquidity.
It's a shame we can't get good policy. United States Poker is suffering. Facts matter.
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