Regulation of Online Gambling

Chris Christie

The Regulation of Online Gambling Could Fix Some Problems.

There have been so many articles in the news recently about the legalization of online gambling in the United States. All of the speculation has made it a popular topic, but is it popular enough?

Many experts speculate that no bills are being passed because there are simply just too many other issues out there to deal with. Legislators are trying to fix the economy, unemployment, and healthcare. Online gambling does not seem to hold a candle to some of these other bigger problems.

The regulation of online wagering could actually fix some of these problems. There is a “debt super committee” dedicated to cutting the government’s deficits by 1.2 trillion dollars over the span of ten years. Taxing online poker would bring in 40 billion dollars in taxes in ten years. This is only solving 1/30th of the problem, it is still something to consider.

The District of Columbia is usually the leader when it comes to these types of bills, but gambling on online operations in DC is not something congress wants to do. Governors just don’t want to resort to online gambling, they think it will lead to the demoralization of society as we know it. New Jersey Governor Chris Christie is one legislature that doesn’t seem to be budging on the issue. He felt for a long time that passing the bill to moderate online gambling would result in betting parlors popping up all over the state. But he finally compromised and agreed to allow online gambling for a ten year period.

Legislators like Christie greatly outnumber the supporters of online gambling, so it is no wonder that the only conclusion any of them can come to is to not come to a conclusion, yet.

It doesn’t help that the previous, and current speak, never felt the need to bring this issue to a floor vote. It’s too bad The Donald isn’t still in the race for presidency; he is a huge advocate for online gambling.

Recently some States are moving ahead with regulation but it is still quite slow. What we need first is a regulation at the federal level before the State regulation. And this does not seem like it is going to happen this year given all the other issues Congress is facing.

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Party Poker rakeback

Man, Party Poker Rakeback is the greatest thing for poker players, basically a free money award for playing solid tight poker. Well, I suppose it is also a form of a Party Poker comps program as well, or maybe some players would call it a VIP program. Anyways that is not the point, the point is that when you create a new Party Poker account and play poker, you will get Party Poker Rakeback automatically deposited into your poker account in the form of Party Points. Do not worry bonus whores, you will still get your full first bonus as well.

What’s Party Poker rakeback you say? Man it is nothing short of the coolest rewards program for poker players ever created. Here is the lowdown: when you sit down at a real money poker game at Party Poker you play against the players. Now, I hope you already knew that you were not playing against the house but let’s just for fun sake assume you are not an idiot and arrived here because you are smart enough to want to make the most money possible for your poker time right?

Ok, now that is understood we can get back to explaining what Party Poker Rakeback is. Ok so the Party Poker owners are just ballers making millions and millions of dollars a week right? They make this vast fortune by charging all players a so-called rake to sit and play at the real tables (live casinos do this too, but you are not a poker idiot so you already knew that right?)

Anyways, out of each cash game pot Party Poker takes a 5% rake, a maximum of $3 per hand (live casinos take 10% rake up to $5 on average, clearly the value is found by playing online).

Now, for non poker idiots like yourself Party Poker will give you anywhere between 10% and 50% of that rake back every single hand; or if you happen to prefer playing sit and go’s and huge poker tournaments you will get back 25 cents on each dollar you pay in entry fees on average. For most real poker players (aka non poker idiots) this adds up to hundreds of dollars per month. To be exact this system is an internal rakeback program called the VIP program. You get the rakeback as points that you can then convert into cash.

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