Online Poker Study Shows Florida Could Cash In
11/16/09 - Online Casino Sphere - View Source
By Lance Burkhart
TALLAHASSEE, FLORIDA -- A study of how regulating online poker for intrastate commerce would affect the state of Florida found that the cash-strapped state could generate almost $100 million a year by allowing Internet poker. The survey by American Poker Ventures contributed its results on online poker to a state office which analyzes potential public policy.
The Florida Office of Program Policy Analysis and Government Accountability has been charged by Governor Charlie Crist to examine various state options with regard to online gambling, including intrastate operations and overseas operation of Internet poker. The office will report findings on gaming projections to the state Senate on December 1st.
The model studied involves a private online operator selected by the state through bidding. Existing tribal casinos and poker rooms would receive half the rake created, with 30 percent going to the operator and 20 percent going to the state.
The figures released by APV find that, by the third year of operation, Florida could net $91 million in revenue, roughly two-thirds of the total gambling payment proposed for all Seminole gambling in the currently debated compact.
APV has also prepared reports for the state discussing the technical issues on setting up, maintaining, and regulating intrastate online poker networks.