Bill 40 is backed by California Online Poker Association
An economic impact study has shown that if an online poker system is created in the state of California then this will make $1 billion in California state revenues as well as bring in 1,100 new jobs in the next ten years.
Currently California faces $26 billion budget deficit along with a 12% unemployment rate so in this case online poker could really be the answer.
Senate Bill 40 was issued by State Senator, Lou Correa, a democrat representing Santa Ana, which was done in order to help balance the state`s budget without adding new taxes.
Senator Corea said: “Governor Jerry Brown is rightly looking to not only cut costs, but to also identify new sources of long-term revenue to help balance the state budget and to continue funding important public services including education, public safety and healthcare.
“Senate Bill 40 is a great opportunity to immediately generate more revenue and put California’s back to work. More importantly, it keeps California revenue and jobs here instead of going out-of-state or offshore.
Another study done at Tulchin Research showed that nearly two thirds of Californians support the installation of an online poker system since it would help with the current economic situation.