July in the Books/ HR2267

July ended up being my second worst month of the year after June. I feel pretty good to end up winning 20K or so considering where I was halfway through the month. I'm looking forward to playing a lot of hands in August and hopefully I can run and play better.








I'm sure most of the people reading this have heard that HR2267 was passed in the US House Financial Committee. From what I've read and understand, this was the first step to legalizing and regulating online gambling including poker (a few things like sports betting are excluded). From the 41-22 vote and the sounds of things, there's a decent chance this gets passed in the house and senate and signed into law by next year but no guarantee. If it's signed the way it's currently written, it will be up to the states whether they want to opt-in. All indications are that California will be opting out which unfortunately means we'll have to move. If you're in an opt out state, it will be impossible to play on a legal, licensed site. Poker Stars and Full Tilt are confident they will be licensed in the US which is great if you're in an opt-in state. From what I read (and someone can correct me if this is wrong), people will be able to play as the are today in the opt-out states with two big differences. They can't play on a licensed site and if they play on an unlicensed site, there's a 50% tax imposed on deposits (ouch!)

I'll certainly be following the bill closely along with what states are likely to opt-in.