Poker Legislation Redux --- The Pols Have Been Busy

No surprise --- the politicians have been busy again this week when it comes to the legislation (or attempts thereof) regarding online poker. Action took place on several fronts, with the overall news generally being positive for poker fans.

The biggest influence of recent days was the difficulty that proposed U.S. legislation encountered, a situation that we've touched on here in a couple of previous posts. Beyond the logistical difficulties in enforcing any of this sadly-constructed legislation, a number of high-profile lobbying influences made their presence felt on the Hill... with the pro-poker side gaining ground as a result. One of the most entertaining of these was a Poker Players Alliance lobbying appearance that included Howard Lederer, Greg Raymer and Chris Ferguson.

Coincidentally, the week also saw the passing of the World Trade Organization (WTO) deadline placed on the U.S. for bringing the country's laws into alignment with international standards, as spearheaded by the tiny island nation of Antigua. (These standards would have made it easier for U.S. residents to gamble over the Web, not more difficult.)

It was no surprise that the U.S. ignored the WTO order. However, poker author Lou Krieger, who's been at the forefront of big poker names in highlighting this issue, recently pointed out the U.S.'s blatant hypocrisy: the U.S. ignored the WTO's guidelines on a case that the U.S. government may not have favored, but turned right around and lodged its own trade dispute against a much larger nation, China. So we ask this: How can any government expect to achieve results through an organization that they themselves choose to ignore whenever it's convenient?

Then again, that's the problem with "international organizations" of any stripe. The United Nations isn't the only world monument to human dithering.

So what do other nations think about the U.S. standa vis-a-vis online gambling. Excepting Antigua, we can't speak for the governments themselves... but investors within these other countries sure seem to be pleased. Poker News has a nice summary about how share prices of several international gaming concerns have jumped in recent days --- a direct reaction to the foundering of the proposed U.S. legislation. PartyGaming (PartyPoker) is up 10% in recent days; 888 Holdings (Pacific Poker) is up 11%. Other gaming concerns experienced similar rises.

What's the alternative for countries seeking a piece of the online pie? Maybe Sweden has the right idea. Only a week ago, Svenska Spel, a Swedish-government-owned gaming country, will launch its own online poker site, controlled and regulated by and through the Swedish government. Okay, it's like, "So what, another online poker site," but the point is that Sweden is taking a step to work within the situation that exists, rather than trying to eradicate something that they really have no realistic chance of making go away. It's too soon to tell if this site will succeed, but at least the plan directs a portion of the site's revenue stream the government's way.

Will the U.S. ever adopt a similar approach? In all likelihood, not any damn time soon. Right now there's still too much posturing to be done.

But as we promised in these postings not too long ago, at least it's a great time to have a ringside seat.