Online Poker

[JDMcNugent7]

After talking with my parents about the kind of money I'm making, and my college plans, a question over how much longer online poker will be around came up.

I am definitely going to college, and getting a degree and all that, and I plan on playing poker as a bit of a side job to continue making the $$$.

After college, if i am still making a good amount of $$$ playing poker, i love the idea of playing poker as my job - waking up - doing what you want - having tons of freedom - being able to hang out with friends - all that sounds perfect for me(and im sure it does for most ppl)

Anyway, my dad thinks its too easy for ppl to make money playing online poker right now, and that the gov. will find a way to make it either illegal - or alot harder to make money at.
How much longer do u guys think online poker will be around - and do u think it will remain as profitable as it is today for a long time ?

[Robbie Robb]

Not that it matters much to me, as I'm in Canada and we (well, at least our Native Reservations) love online casinos, but I think the exact opposite is going to happen: The U.S. will ultimately relent and ALLOW legalized online gambling without the need to go offshore. The casino conglomerates are constantly lobbying politicians to allow them to open up online fronts.

In addition, if allowed to operate on U.S. shores, the gov't would then be able to tax the hell out of the corporation and the players. Sure, right now, you're SUPPOSED to declare income from online gambling but unless you get audited...

If the U.S. allows it, they'll be able to control it. Those big PS/UB/PP payouts? Here you go, we've already taken the liberty of deducting the appropriate taxes for you. Maybe they'll even start doing a double rake: one for the house, one for the taxman. Wouldn't that suck?

The bigger question really is "Does it matter if the U.S. legalizes online gambling?" I don't think it really does. Just because they've given the big thumbs-up, you think that any of the currently operating big boys are going to move out of Gibraltar or the Isle of Man?

I think it's too little too late for the big gaming companies. Bally's, Harrah's, Mandalay Group, etc. They've missed the boat. Not their fault of course. They really had two choices: 1) Give a big 'Fuck You!' to the U.S. gov't and open up online sites offshore. or 2) Sit on their hands and hope the gov't comes around. Obviously if they go the #1 route, that's not going to go over terribly well when it comes time for license renewals so they can't really do that. They're forced to wait. And wait. And wait.

So, this sort of got away from part of your quesiton. How long will it be around? A while yet. Will you (or I, or any of us) be playing poker online for money well into our retirement? Probably not. As with everything, the game will evolve. I'd say it's got a good chunk of time on its lifeclock though. Will it be as profitable? As long as the companies keep advertising like they do, the fish will keep biting.

I've rambled on enough now...

[PShabi]

US-based casinos and poker rooms. Tax them, not me and tax the shit out of em. Maybe they don't make "billions," just "millions" and maybe we have some free-ass health care, teachers get paid better, and the poker player's get rich.

Vote Shabi in 2012.

[left68wing]

you tax them, they add more to rake. no matter where you raise the taxes it will bite the consumer in the ass.

[PShabi]

Your dad thinks it's "too easy" to make money because

A) He's not a poker player
B) He doesn't understand that for every "winner" there are a lot more losers.

but most of all...

C) His 18 year old son is going to make 6 figures his senior year of high school (has this really sunk in for you people?) playing online poker.

As for how long the online game will last...who knows? I don't see an end in sight unless something radical happens with some groundbreaking laws.

[JDMcNugent7]

a) true - he prob thinks it is much easier than it is
b) he def. understands this
c) theres no guarentee, not even close, that i will make 6 figures this year.

[Talking Poker]

JD is my man... but he won't make 6 figures this year.

Prove me wrong, bud.

As for the rest of this thread, I agree with a lot of what Robb is saying, but he's forgetting one thing. While technically not LEGAL in the U.S. right now, PLAYING online poker is not prosecuted. If things take a turn for the worse and the U.S. decides to start cracking down on it's players - *poof* - so long player base at all the major sites. You can pretend it won't affect you because you lived outside the U.S., but it will.

Fortunately, I don't see that happening. I expect NOTHING to happen for quite a while, but eventually, I think the U.S. will wake up and legalize it here, so they can start getting their cut. No one would be happier than the online poker rooms about this, believe me. That is a tax they would LOVE to pay!

[Robbie Robb]

You're correct - I didn't mention anything about it not being prosecuted. It wasn't forgotten about however, I just couldn't think of any feasible way for the US to prosecute. I'm pretty sure the Isle of Man would tell the U.S. gov't to take a flying leap at any demand for co-operation. Of course, then all of a sudden, the Isle of Man would be harboring WMDs.

I suppose it's within the realm of possibility that the U.S. could prosecute, but like you, I just can't see that happening. It would piss off far too many people and I think some of those people probably have some pull on the hill.

If it did happen though, yep, it would affect me. A *LOT* of these sites would shut down and right quick. Take away the U.S. players and there's maybe enough online action to maintain one or two sites at most. (Party? Stars? I think the others would be gobbled up or fail rather quickly)

[JDMcNugent7]

Thanks for the new Goal