Nevada Fast Tracks Amendment Allowing Interstate Compacts
An amendment to the Nevada online gambling bill has been signed into law meaning that the state may now form compacts, or deals, with other states that wish to offer online poker to their residents. This will mean that there is no need for intervention at Federal level regarding the legality of playing online poker. However many observers seem to think that the government will get involved at a later date. Nevada by taking the initiative and fast tracking the amendment through, puts itself in pole position regarding online poker in the whole of the US. The bill effectively means that states with a similar mind set, i.e states that believe online poker will not damage their bricks and mortar casinos and will provide a much needed revenue stream, will be able to join Nevada, but Nevada sets the terms and conditions. Basically everything goes through Nevada, making it a very smart move, hence little to no opposition to the amendment. The bill was introduced by Assembly Majority Leader William Horne and backed by US Senate Majority Leader Harry Reid in Nevada. It was passed extremely quickly through a joint sitting of the House and the Senate and quickly passed to Governor Brian Sandoval who signed on the dotted line without hesitation saying that, “This is an historic day for the great state of Nevada. Today I sign into law the framework that will usher in the next frontier of gaming in Nevada.”
Liquidity and Licensing
The bill means that the framework can now be built that allows sufficient player liquidity to make online poker in the states a viable proposition. Without it states could simply not do it on their own, especially those with smaller populations. It also means that it is a much more attractive proposition for investors. There was talk of the license fee being an issue but all parties eventually agreed on a $500,000 fee as opposed to the $1 Million that was originally suggested. Another section of the bill states that there will be a 5 year block on online poker providers who allowed US players on their sites after UIGEA in 2006, meaning that PokerStars will have to wait. Up in New Jersey meanwhile, Gov Chris Christie says that he will sign that bill as soon as the amendments are made, stating that he will put pen to paper the very same day it lands on his desk, so there's no worry about that one becoming law and maybe they'll be the first state to enter a compact with Nevada. It sure is big news and next up will be who gets the ball rolling as far as providing software and support is concerned.