Online Poker Skill Game Bill in Senate Today

Good news for all internet Poker fans. A new bill will be introduced today in the senate to regulate and tax online poker and other “games of skills”, according to the Dow Jones Newswire.

According to the Dow Jones Newswires, the bill being introduced today by Sen. Robert Menendez, D-N.J, proposes to establish a regulatory framework to allow online poker operators to register in the U.S. It would put in place consumer protections such as ensuring an individual is logging on from a jurisdiction where gambling is legal, and having accurate age-verification procedures.

Some of the key points of the bill are:

• It would require safeguards protecting against compulsive gambling, fraud and money laundering and ensuring the fairness of games.
• A 10% tax would be collected on all deposits made by players to gambling sites, with the proceeds split evenly between the state and federal governments.

This is great news as we all know Barney Frank (D-MA) introduced the Internet Gambling bill HR 2267 to the House early May. With both the house and the senate working on ways lo legalize internet gambling, we should see some development very soon.