I have a feeling that a lot of states in the USA are going to introduce online gaming bills this year. Mississippi is the latest state to enter the fray, as Bobby Moak filed a new bill called the Mississippi Lawful Internet Gaming Act of 2012.Mississippi’s online gaming bill will legalize online poker and other forms of gaming. Most US states have only been introducing bills that regulate online poker, but it appears that all forms of gaming will be legalized in Mississippi if this new bill is passed.
The online gaming bill would create jobs and earn much needed revenue for the state of Mississippi. Online poker operators that want a permit from the Mississippi Gaming Commission (MGC) will need to pay a minimum of $200,000. Permits will be valid for a period of 1 – 5 years and once the permit expires the operator would be required to renew the permit immediately. Renewals will cost the operator $100,000 each time they need to renew their permit.
There are multiple other fees that the poker rooms would need to pay plus there would also be taxes on revenues. The bill has a lot of details about the way the state will regulate the market and it’ll provide a safe environment for poker players. The poker room would be required to make sure every player is over 21 years old by having the player send in two pieces of ID. Every player would also need to complete an Internet Wagering Account Agreement plus sign a Penalty of Perjury Statement.
The regulations are steep, but it will ensure that the poker players in the state of Mississippi are completely safe. There would be a few ways to fund your account including Credit Cards and Cash at the licensee’s casino. Being able to walk into a casino to fund and withdraw funds from your online poker account would be great for poker players in Mississippi. The new online gaming bill was just introduced on Wednesday, so I’m sure it will take some time before we hear about whether or not the bill will be passed.
One of the rules that’s currently on the bill that I think should be changed is as followed. Poker players that have inactive accounts for 12 months will have any funds in their account donated with 50% of the money going to the MGC Fund. Most players wouldn’t leave inactive accounts for over a year, but there are certain circumstances where that could happen and players shouldn’t need to worry about having their money donated for being inactive in the online poker room.
Mississippi and Iowa are now two more states looking to regulate online poker at the state level. I’m sure we’ll see more states jump on board in the coming weeks, so make sure you tune back to our blog to find out when your state introduced an online poker bill.