Online Poker Inches Closer To Legality

poker

Photo: cityskylinesouvenir via Flickr

In April, the feds cracked down on online poker.In September, they accused Full Tilt poker of being a global Ponzi scheme.

Soon, they may be legalizing the game, according to an article in the New York Times.

“It’s no longer a question of if, it’s a question of when it will be passed,” Jim Ryan, the co-chief executive of Bwin.party, which owns the poker site PartyGaming.com, tells the paper. 

Of course, he is biased. But he’s not wrong.

There is too much money on the table for the federal government not to legalise it.

Before the crackdown, online poker was a $16 billion a year industry. Think of the tax revenues.

Instead, all of the money is going into offshore coffers. That’s going to change in the near future. We’d bet on it.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

internet poker sai-us tax