Fantastic Casino Glen

California was one of the first states last year that considered online gambling regulations. Amidst a cry from gamblers to regulate the industry, and a need for increased budget revenue, California lawmakers joined Florida, Iowa, Hawaii, and Nevada as states that were looking into regulations. Now, a year later, the federal government has several bills on the table that would regulate Internet gambling, and that has California Senator Lou Correa concerned. With Nevada having already passed an online poker bill, Correa fears that if federal regulations go into effect, California residents would lose out. This past week, Correa re-introduced Senate Bill 40. The bill has been amended several times over the past six months, with last week being the latest of the adjustments to the legislation. The urgency of the situation is what is driving Correa. “We have an opportunity to generate 1,300 new California jobs and $1.4 billion in new state revenues instead of watching those jobs and revenues be exported to Nevada or DC through federal legislation,” said Correa, as reported by the Internet Examiner. “We can’t afford to do nothing. We can’t delay. If we do, the revenue will be lost, the jobs will be lost, and the opportunity will be lost.” Federal legislation has been proposed by Representative Joe Barton. If the Barton bill passes, states such as Nevada and cities such as Washington DC would have a leg up in the competition for online gamblers. Nevada and DC have passed online gambling legislation, with Nevada’s simply waiting for federal approval. In DC, they are moving forward with plans for an online casino even before the federal law is completed. The DC Lottery was expected to unveil their new online casino in September, but after receiving criticism, the lottery will now hold off until a a series of public hearings are held on the issue. Correa believes that upwards of $250 million could be generated immediately from online gaming licensing if his bill passes. In addition, tax revenue from the Internet gambling would be in the hundreds of millions of dollars each year. Correa also estimated that over 1,000 jobs would be created from online gambling sites. California lawmakers did not take to the idea of online poker legislation the first time it was discussed last year. Much has changed, however, on a national level within the industry. Recent indictments of PokerStars and Full Tilt Poker have outraged American poker players, and they have pressured their representatives to change the current US law regarding the game.