Mon, 03/07/2011 – 20:51 – PokerPages Staff

Iowa is making moves to become the first state to legalize and regulate online poker after a measure was passed by the Government Committee last week.

The news comes in the wake of New Jersey Governor Chris Christie’s decision to veto an internet gambling bill on March 3.

The Iowa State Committee approved the measure by a 9-6 vote and it will now seek the approval of the Iowa Senate and Iowa House before potentially being signed into law by the Governor.

Online poker is highly popular in the state with around 150,000 players currently competing on sites such as PokerStars.

Senator Rick Bertrand believes it is time to set up a fully regulated intrastate gambling market.

“If we do not make a move now, the Federal Government is going to make a move in the next few years and we will lose the revenue. I think it is forward thinking.”

However, Senator Jerry Behn opposes any changes and stated that voters should be given the chance to decide on the issue of regulated online gambling.

“This limits the voter. I think this is really changing the rules in the middle of the game.”

The bill would generate up to $40 million in revenue on an annual basis, providing a timely boost to the local economy.