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by Card Player News Team |  Published: Jun 25, 2010

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House Hearing Highlights Tax Benefits of Online-Poker Regulation Rep. Frank Says His Committee Will Vote on the Issue in July The tax implications of a hypothetically regulated U.S. online-poker market was the topic of conversation for the House Ways and Means Committee on May 19, as the committee went over the tax revenue that the federal government would bring in if Rep. Jim McDermott’s (D-Wash.) and Rep. Barney Frank’s (D-Mass.) two poker-related bills were passed into law. “Prohibition hasn’t prevented millions of Americans who want to gamble online from doing it,” McDermott said in the hearing. “It has forced Internet gambling operators to work offshore, it has put consumers at risk, and it sends billions of dollars in revenue to other nations.” McDermott estimated that online-gaming regulation could bring in as much as $72 billion over the next 10 years. Rep. Sander Levin, chairman of the committee, said the May ...


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