Who can keep this straight anymore?  Well, PLB’s going to try.  Senator Reid says that his comments were taken out of context and that his poker bill is NOT dead after all.  Stay tuned for the next 180 by someone.

Also, California’s poker push is picking up some momentum.  Check out the same link above.

Just a quick hit, and nothing that if you’re reading this blog you probably don’t know already.  (But please keep reading…)  ABC News has picked up on the Wall Street Journal’s article on Sen. Reid’s attempt to legalize poker.  Some pretty amusing comments are made by Senators about what it is like to support the casinos.  Also, a claim that the monetary pie at stake is $25 BILLION.  That’s got to make even the most Republican Senator take notice, no?  Anyway, I love it when the “mainstream” media gets involved.  There’s no such thing as bade P.R.  So check the article out here.

A New Jersey legislative committee met on Monday to consider various casino bills, among them one that would legalize online poker if played entirely within the state’s borders.   New Jersey would take 20% of the annual gross gaming revenue, which could reach $50 million.  That tax revenue and the thousands of jobs the bill would create are being touted as strong reasons to legalize online poker.  And you thought Hoboken already was a (somewhat) cool place to live in lieu of NYC.  Imagine if you could player poker legally there.  Jackpot!

By now it’s old news:  the Republican party, in a historic comeback, won control of the House and made inroads in the Senate.  What you may not have heard yet is how the election results might affect the chance that the UIGEA will be repealed, or at least have its effect mitigated.  Wish I could write with better news, but I just can’t.  It’s predominantly bad.  Representative Barney Frank was re-elected, but because the Democrats lost control of the House he almost certainly will lose his chairmanship of the prestigious and powerful House Financial Services Committee.  That’s the committee leading the push to repeal the UIGEA.  Devastating news.  To add insult to injury, Spencer Bachus (R-AL), an ardent opponent of legalizing online poker, likely will be the new committee chairman.  On top of that, UIGEA sponsor Bob Goodlatte (R-VA) was re-elected to another two years. 

But there is a glimmer of hope…  Online poker supporters Shelley Berkley (R-NV) and Jim McDermott (D-WA), the latter of whom recently sponsored the tax companion bill to Frank’s legislation, were re-elected. 

You never know how politics will develop.  So it’s not time to revolt.  But probably best to get ready to vote in 2012.

As you may have heard by now, the U.S. federal government is considering requiring financial institutions to record the from where and to where details of EVERY electronic transfer.  This would be an immense burden on the banks.  Putting aside the downside of how the banks would pass the cost on to the consumer…many in the poker world are nervous that this proposed law would spell the end of U.S. online poker, because the banks would know exactlywhich transactions are related to online poker, and thus violative of the UIGEA.  This is a legitimate concern. 

But there is another view espoused by at least one author/group.  That view is that the proposed legislation would actually help poker players.  The thinking is that since the original purpose of the UIGEA was to counter illegal drug and terrorist activities, by being able to mark the online poker transactions separate from potentially drug/terrorist-related activities, online poker may be spared a crackdown.  In other words, the federal government will know which transactions are for online poker, but not enforce the UIGEA for those transactions. 

I am not ready to endorse this theory.  But it is interesting, and certainly worth passing on for thought.  If nothing else it reminds me that sometimes even the worst situation can have unintended positive consequences.  (Kind of like misclicking “raise pot” with nothing and your opponent folding.)

Looks like another Congressional session will close without a vote on pending poker legislation.  Rep. Barney Frank is not optimistic — in fact, he’s downright pessimistic — that the House will vote on H.R. 2267 prior to the mid-term elections.  And who knows what the composition of the new House will be, or its priorities.  When will the madness end…?

Here is a summary of federal and state gambling legislation prepared by two partners at the law firm Skadden, Arps, Slate, Meagher & Flom LLP.  For all you non-lawyers out there, Skadden is one of the preeminent law firms in the world, perhaps the best.  Akin to what Ivey is to poker.  Sadly, Skadden’s conclusion is that progress will be “incremental” and likely will occur on a state level before a nationwide resolution is reached.

Congress returns to session next week.  Among the legislation that might be considered is Rep. Barney Frank’s H.R. 2267 effort to legalize/regulate online poker.  Could be a pivotal time in online poker history.  If you’re so inclined, pick up the phone or the mouse and contact your representative.  Let him/her know your stance on the bill.

As promised, here’s the link to the panel discussion on online poker law.  (It’s actually a link to the Cardrunners page from which you can listen or download it, for all you poker playing lawyers on the go.)  I’m not putting it up there with season one of Mad Men just yet, but it is quite interesting and controversial (at least to many Congresspeople).

Harrah’s is engaging in a massive PR campaign to publicize its free poker site.  But get this, the site is run by Dragonfish, which operates a real-money site in the UK.  This move comes hot on the heels of the positive House Committee vote on Rep. Frank’s bill to legalize/regulate online poker, the momentum gained since with additional Congresspeople voicing their support of the bill, and rumors that any bill that legalizes online poker will explicitly outlaw any site that operated in violation of U.S. law (i.e., FullTilt, PokerStars, and even possibly PartyPoker — a great comment to an earlier post by me notes that Party admitted guilt a while back to avoid serious sanctions).  Looks like Harrah’s is using the period before (crossing fingers) legalization to fine-tune its software and build a fan base.  They even soon will offer prizes, such as main event entries.  It may not be “gambling” — you are not putting up your on money — but it is mighty enticing.  Anyway, if I’m FTP, PS, or Party, I would be getting a wee bit nervous.  Harrah’s is a major casino player with a strong lobbying influence.  This shot over the bow is one that should be heeded.  How though, is an entirely different question.