What to Expect if a USA Online Poker Bill Passes

Many players, both in the United States and around the globe, were pleased after the House Financial Services Committee voted in favor of sending HR 2267 to the House floor for a full vote. However, it turns out that many people don’t really understand what the passage of legalized and regulated online poker will mean for them: Hopefully this article will clear up some of the mess.More Competition Amongst the Poker SitesIf the online poker market opens up in the US it’s almost guaranteed that the Yankees and Red Sox… I mean Full Tilt Poker and PokerStars reign of total supremacy will come to an end. It’s no mystery why two of the online poker sites who accept US players have 50% of the total online traffic!But more competition is good for the customer, so poker players will likely find better deposit bonuses and better promotions as the online poker rooms compete amongst each other for your dollars. Expect traffic levels to even out across the board for all US regulated poker sites.Possibility of Higher Rakes to Offset Taxes and FeesUnfortunately, legalized and regulated online poker means the online poker rooms will be losing revenue; first there will be a hefty licensing fee, and then there will be taxes to be paid. Not to mention the costs that will be imposed by regulators for audits and such, as well as fines for violations.With all of these added expenses it’s quite possible that the poker rooms will pass some of it on to the players, in the form of a rake increase, or perhaps a fee on withdrawals. Although a hefty rake increase for French players saw an online poker sit-in on the offending sites.More Bad PlayersFortunately, bringing back the capability of instantaneous deposits and payouts from credit cards and bank accounts, as well as payment processors like PayPal and Neteller, will bring the casual poker player back into the mix. Right now you have to plan to play online poker, but with a legalized game players will be able to join a site and fund their account on a whim; not to mention they’ll be able to withdraw their winnings immediately! This is what casual poker players want, instant gratification.This is why the majority of US online poker players at the moment are typically less willing to gamble than our European and Asian counterparts: It’s just a lot harder to fund our accounts, and we have to wait 7-10 days to receive our cash-outs!