Reid Poker Bill to Result in U.S. Online Poker Shutdown

For those of you that have been following recent poker news, the Harry Reid Internet Poker Bill of 2010 is a highly debated topic in the poker world.  However, what many people did not realize until the past couple of days is that unless something changes at the last minute, the “legalization of online poker” in the United States will actually result in the final and complete shutdown of all online poker sites for at least the next 15 months.

Harry Reid's Bill will result in a U.S. online poker shutdown for 15 months.

If this bill is passed, all online poker sites that currently serve the U.S. must stop doing so within 30 days.  Then, there will be a 15 month waiting period before any site will be granted a license and can start operating online.  Currently, only existing casinos, race tracks, and slot machine businesses can run online poker rooms.  There has been changes that will allow these sites to buy assets from other sites.  Poker sites that are currently operating must wait an additional 24 months before they will be allowed to get a license on their own.  (However, if they are purchased by a company with an existing license, they can operate.)

What this boils down to is that if this bill passes, for 16 months afterwards, U.S. players will not be able to play at any online poker site.  (The 15 month blackout period begins 30 days after the law is enacted.)  There is also an addition wrinkle.  States have the option to opt out of this new legislation.  For example, if you live in Kentucky and your state opts out, it will be illegal to play online poker in that state.

The status of this bill has been hotly debated, especially in last 24 hours.  Reports range from the bill being attached to the Bush Tax Cut Extension Bill to the bill being dead.  Soon we will know the truth and whether the bill will indeed be voted on and passed.  Should this bill pass, the ironic thing will be that Congress will have successfully killed online poker for the next 16 months by doing what online poker players have wanted since 2006, legalizing online poker.

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