What Can Be Expected

If you too are waiting for online poker to be regulated in the US, then it is worth you learning about what to expect from the industry when it does

The Poker Players Alliance has been striving for a while now to establish a legalized and regulated online poker playing environment in the USA. Although nothing has been set in stone yet, the legislation introduced by Rep. Barney Frank and Senator Menendez does indeed offer insight into what players and operators can expect should such an environment be introduced. Here is some of that:

Market leaders: there are already several major online gambling companies preparing for the introduction of a regulated online gambling environment. As such, it is possible to determine which of them will be the first on the scene to provide for the new and eager market. Part Poker is expected to be the first, along with Harrah's, which will host the World Series of Poker as it does each year. Should they receive a license, Full Tilt Poker and Poker Stars will no doubt have their foot in the door quite quickly too.

Taxes: taxes can be expected on both a player's winnings and deposits! In addition, players will have to declare any winnings, and any incompliance will eventually amount to the IRS arriving on your doorstep! Social security numbers may also be required.

Age requirements: since all forms of gambling in the US are currently restricted to 21 years and over, it is likely that online gambling too will be restricted to persons over the age of 21. This will most significantly impact the young guns known to infiltrate major poker tournaments and begin their career as poker professionals early.

Monetary transactions: making online payments, deposits, withdrawals and transfers will no doubt be quicker for online poker players should online gambling be regulated in the US. It can be expected that Neteller (now called "Neovia") and Paypal be the first major companies to return to the market.

Dispute settlements: if online gambling is regulated and effectively legalized, player rights are sure to be strengthened. This is because players will be able to discuss their activities openly and turn to a certain authoritative body that will be able to mediate between players and operators regarding disputes.

Sate legislations: according to the current legislation, each state will be allowed to drop out of the plan, meaning that the legality of online poker is likely to change between each state.