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iGaming News reports exclusively on the unveiling of California poker legislation on Friday. Gambling911.com has been reporting on state legislators attempts to pass measures that would ultimately legalize the activity within state borders.
In its current form, the bill instructs the California State Gambling Commission, in conjunction with the state Department of Justice, to draft and adopt regulations for the implementation of an online intrastate poker network, according to iGaming News.
Key points of the measure include stipulations that limits licenses to current gaming establishments, licensed by California, as well as to California tribes with compacts. The operations must also be based within the state itself.
Additionally, The legislation recommends a gross receipts tax structure that mirrors the structure currently imposed on land-based card rooms in California.
Internet Web sites would be required to have an individual, when opening an account, place a limitation on the amount of funds that may be transferred into that account within a 24-hour period and withdrawals from the wagering account can only be made by check.
Christopher Costigan, Gambling911.com Publisher
