United States Senate Majority Leader Harry Reid’s latest draft of a bill to legalize online poker is being circulated Tuesday, December 7. According to a report, the bill is backed by Nevada casino interests and would be advantageous to the horse racing industry as well

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An article by the The Wall Street Journal explains that the Nevada casinos have stated that the bill would provide consumer protection for poker players and would provide some tax revenue for federal and state governments.

In regard to the advantageous aspect for the horse racing industry, the The Wall Street Journal states that -- according to the draft of the bill which it saw -- 'Reid's office is considering language that would allow only existing casinos, horse tracks and slot-machine makers to operate online poker websites for the first two years after the bill passes, which could limit the ability of other companies to enter the market.'

(With files from the The Wall Street Journal)