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California Bill for Intrastate Online Poker UnveiledTue, Apr 28th, 2009 @ 12:00am Last week, iGaming News obtained a copy of and reported on the highly-anticipated California Online Poker Law Enforcement Compliance and Consumer Protection Act whose aim is to regulate online poker within the Golden State, on an intrastate basis. The bill was submitted to the California Legislative Analyst earlier this year, and is likely to be amended should it pass through the Legislature. In its current form, the bill instructs the California State Gambling Commission, in conjunction with the state Department of Justice, to draft and adopt regulations for the implementation of an online intrastate poker network. Key points of the bill, that iGaming News reported, include: licensing limited to current gaming establishments, licensed by California, as well as to California tribes with compacts. The operations (wagering hubs) must also be located within the state itself. Additionally, the legislation recommends a gross receipts tax structure that mirrors the structure currently imposed on land-based card rooms in California (so there is no tax difference to being online versus land-based). Deposit/Withdrawl Limitations Another key point of the bill concerned deposits and withdrawls, as follows: When an individual opens an account, the Online poker sites would be required to place a limitation on the amount of funds that may be transferred into that account within a 24-hour period. The bill also stipulates that withdrawals from the wagering account can only be made by check, or by an electronic transfer to the same financial account from which the verified accountholder is authorized make deposits into the wagering account. PokerPages.com will keep you up to date on further developments as they happen. To view a copy of the bill in full, click here. Read Related Article:
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WSOP Main Event Champ Joe Cada to Appear on Letterman The poker world will receive some late night attention tonight as "The Kid" Joe Cada, the youngest champion in the four decade history of the World Series of Poker Main Event, takes a seat next to embattled talk show host David Letterman.
First Korean Champ of Asia Pacific Poker Tour Crowned in Cebu Another stop on the Asia Pacific Poker Tour is in the books, this time it's the APPT Cebu in the Philippines, and for the very first time a Korean player has come out on top.
Pollack Done as Commish of World Series of Poker Just three days after crowning Joe Cada as the 2009 Main Event champion, officially closing the special 40th anniversary run of the World Series of Poker, Jeffrey Pollack has resigned his post as Commissioner of the WSOP.
Durrrr Signs as Team Full Tilt's Youngest Member Tom "durrrr" Dwan is the newest member of Team Full Tilt, the online site's highest level of affiliation. At 23, Dwan is the youngest of the now 14-person team. The high stakes cash phenomenon was nominated for induction this year into the Poker Hall of Fame until the Hall of Fame Governing Council decided he was too young to meet the "has stood the test of time" qualification.
Joe Cada Becomes Youngest World Series of Poker Main Event Champ History was made early Tuesday morning in Las Vegas as 21-year-old Joe Cada outlasted Darvin Moon in heads-up play to claim the 2009 World Series of Poker Main Event bracelet and more than $8.5 million.
Moon and Cada Heads-Up, Ivey 7th at WSOP Main Event Final Table After a marathon session at the most esteemed table in the poker world, a 21-year-old and a logger are set to go one-on-one for the World Series of Poker Main Event bracelet.
PokerStars Launches New UK and Ireland Poker Tour PokerStars.com has announced the start of a new poker tour with stops throughout the United Kingdom and Ireland. The UK and Ireland Poker Tour (UKIPT) will kick off in Galway, Ireland in mid-December, and the first event in the UK will be held in Manchester in February.
Peerless Media Agrees to Purchase World Poker Tour Enterprises According to a Monday press release, WPT Enterprises Inc., mothership of the World Poker Tour, is now the rightful property of Peerless Media, Ltd., subsidiary of online giant PartyGaming. |
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