There are many online players in United States who take online poker very seriously and this has become one of the favorite pastimes for many. This is a very important part of finance and one should be concerned about this part of finance as well. As I love to analyze different parts of finance to provide an overall idea covering all the borderline of finance, I thought that I should put some light on this gray area of finance as well. As I am not a law expert, I decided to research on the matter if Americans online players would like to go for legalization of online poker.
To do my research I personally spoke with some serious online players and try to read their minds. It is true that legalized online poker will not be a disaster and it would be good thing that government can monitor everything related to this game if legalized. But I am afraid that many American players will not like this idea. Yes, there are many pitfalls associated with the legal part of online gaming and this is the reason many Americans don't want legalized online poker. Here I am going to elaborate these reasons further:
Let's check the history: Before 2006 people were not much optimistic about any legislation related to online poker. But with enactment of Unlawful Internet Gambling Enforcement Act or UIGEA few regulations came to act. But after that as well all leading online poker sites were operating in many states in United States. And then came that awful day called Black Friday in American poker history when the most famous poker sites collapsed over night leaving millions of online players shocked and shattered. Many of these players got their deposits frozen and didn't have any clue to recover the money. After these many changes took place, at present people are not much in position to go for legalization of this process again.
Government management is not much reliable: If this entire matter goes legalized then U.S. government body will manage the entire thing. This is the least thing people really want. In past, people had some bitter experience with the management tactics handled by government. At present without any government interference they are pretty much free to play according to their will. But many players feel if online poker goes legalized then government will not be able to manage entire thing smoothly taking care of the interest of the players.
Not sure about the after effects: This is the one of the major reasons that people don't want online poker to be legalized as they are not much sure about the consequences. There are people who are using specific online gaming sites and they are much accustomed with their rule regulation and are comfortable playing there. The question is, if these famous sites are going to get license when this become legalized. This is not sure at all. If not, then people need to switch platforms and need to give it an all new start from the very beginning. It is not that bad, but people don't like to go out of their comfort zone much.
Financial calculation: People generally play online poker to gather some extra money. Financial calculation becomes a crucial part of the entire scenario. Taxes are the major concerns for both government and players. If this becomes legalized, then government will look for some good revenue in the form of taxes. At present there are few rules and legislation regarding taxes related to poker. One needs to declare about all earnings through online gaming in Form 1040 to IRS. As currently people are playing through online websites they are having many choices regarding tax issues. If government takes in charge then people will have fewer choices.
Player's biggest concerns: There are many issues if you see this from the point of view of the players. First of all people do not feel much comfortable playing with legalized websites due to few issues. So, the number of players will decrease considerably in comparison to non legislated websites. Another concern is offshore playing option will not be available any more. These are few reasons which make regular players a bit hesitant about legalization of online poker.
Now, this debate will go on and on. Some people will also point out some relevant points contradicting these views and they are very much right at their place as well. But no one can underestimate aforesaid points too. Every facility comes with two sides; one is good and another one is bad. One needs to deal with the both. Political conditions also play a great role regarding these kinds of decisions as well. So one need to keep some patience and keep an eye on the current happenings. Changes are very much obvious and you need to see the positive part to stay well. Financial decisions should be taken carefully. It is not a great thing to leave everything on luck. Keep the control in your hand and grow financially!