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There could be big news in California as legislators may be considering legalizing Internet Poker.
As a way to raise revenue for their state during this economic downturn, California lawmakers are apparently thinking about the legalization of online poker for it’s residents.
The Golden State has been hit hard by the recession. Supporters in the State Senate feel that legalizing online poker could quickly become more than a $1 billion industry in California.
The Senate Governmental Organization Committee chaired by Senator Roderick Wright, a democrat from Los Angeles, was told by analysts that the industry could generate additional revenue for the state in the neighborhood of $50 million per year.
Opponents of online gaming in California feel that the could end up losing revenue from Indian gaming with the addition of internet poker.
As part of the state’s deal with most Indian Casinos, tribes make annual payments to the state general fund in exchange for provisions that limit the state’s ability to compete against their facilities.
Those payments for 2010-11 are estimated at more than $360 million.
It is feared that tribes could legally be allowed to stop making payments to the general fund with Internet Poker on the table.
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