Online poker bill reaches Congress

Peter King, Republican Congressman for New York, came up with several federal arrangements in order to place online gambling in a better position than where it actually stands.

Back in 2011, the federal government took strong action against online poker but that same year the DOJ announced a policy suggesting that online gambling is permitted as long as the state where the company is established, allows it.

As of last year, the online gambling bill didn’t progress at all making each individual state rush into creating their own legislation. Nevada, New Jersey and Delaware took the lead in some sort of legalized gambling activities.

Predictions by Morgan Stanley suggests that if Las Vegas and Atlantic City markets are combined ($9.3 billion), by 2020 online gambling will produce the same amount of revenue.

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