he Internet Poker Consumer Protection and Revenue Generation Act of 2010 (H.B 1441) will create a framework for the state of Florida to regulate intrastate Internet poker by creating a licensing and regulatory structure in a manner that is lawful under the UIGEA.
The bill would provide a new source of revenue that will generate additional economic benefits to the state instead of flowing offshore to unregulated foreign operators and markets, while also creating a contractual relationship with an Internet poker hub operator who will ensure that betting is authorised only to registered players who are physically present within the borders of the state and over 21 years old.
The bill provides for a licensed cardroom operator to become a provider of online poker through licensed Internet poker hub operators, while creating a system to protect players’ private information and prevent fraud and identity theft, with financial transactions processed in a secure and transparent fashion.
The Division of Pari-mutuel Wagering of the Department of Business and Professional Regulation will administer and regulate the operations of the state online poker network, including conducting investigations and monitoring the network.
An Internet poker hub operator must pay a non-refundable license fee of us$ 500,000 to the division, and annually thereafter 10% of the monthly gross receipts derived from online poker during the previous fiscal year. In addition, each Internet poker hub operator will pay a tax to the state of 20% of the monthly gross receipts derived from online poker.
The division will request proposals for Internet poker hub operators, subject to a competitive procurement process. Only those holding a valid cardroom affiliate license issued by the division may provide intrastate Internet poker, with annual cardroom affiliate license fees set at us$ 1,000. Each cardroom affiliate will also be required to use at least 4% of its monthly gross receipts from online poker to supplement pari-mutuel purses and prize money.
The act is proposed to take effect from July 1st, 2010.