Nevada to Consider Legalizing Internet Poker

Nevada state lawmakers are about to consider an internet gaming bill that would allow residents and non-residents to play online poker, according to the Las Vegas Sun.

The bill is being introduced by Assembly Majority Whip William Horne, D-Las Vegas, per the request of former Speaker Richard Perkins. PokerStars hired Perkins to lobby for the company at the outset of the legislative session, according to the Las Vegas Review Journal.

Despite being presented as an intrastate internet gaming bill, the legislation would potentially permit those in other jurisdictions to play.

According to the bill, the criteria to be an operator is as follows:

• Appropriate safeguards to ensure, to a reasonable degree of certainty, that the person placing a bet or wager is at least 21 years of age;
• Appropriate safeguards to ensure, to a reasonable degree of certainty, that players of internet poker are located in the State of Nevada or another jurisdiction where internet poker is not prohibited by law;
• Appropriate safeguards to encourage responsible gaming;
• Technical standards applicable to internet poker;
• Accounting and internal control standards to ensure accurate calculation of state license fees and taxes imposed by this chapter;
• Standards to encourage compliance with applicable laws relating to money laundering and terrorist financing;
• Standards to assist in protecting the privacy and security of patrons;
• Appropriate safeguards against cheating, fraud or collusion and the use of cheating devices;
• Standards governing the location, surveillance and security of hardware, software and other equipment used as part of Internet poker; and
• Such other requirements as the Commission may deem appropriate.

The bill does not offer a concrete tax rate or license fee for the operators of internet gaming within the state, but it does say that all gross revenue be counted for “the purpose of computing the license fee required.” In the situation of players being located in jurisdictions other than Nevada, “the licensee shall pay the license fee based on gross revenue at the rate of 4 percent on the gross revenue resulting from the play of players located in such other jurisdictions.”

The bill gives the Nevada Gaming Commission the power to adopt regulations in amendment to the provisions of the act, on or before Dec. 31, 2011. A hearing for the bill has been set for Mar. 24.

Despite no clear figures on what kind of tax revenue the new bill could raise, the legislation could surely help the Nevada casinos which lost $3.4 Billion in 2010.

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