Rarely is the final World Poker Tour event of the year overshadowed by anything, but that seems to be the case in 2010 with the eyes and ears of poker players and fans waiting to see what will come out of the efforts to pass the online poker bill in Washington, D.C. While Antonio Esfandiari brought in the chip lead on Day 4 at the Doyle Brunson North American Five Diamond Poker Classic, the latest draft of Sen. Harry Reid's bill to legalize the online poker industry shed some additional light on some of the issues that may affect all those who enjoy the game.

From a very basic standpoint, here are a couple of bullet points to focus on, but keep in mind this bill is constantly changing and is only a draft. The bill will also need to be passed before any of this would officially apply to the current online poker providers.

• For 15 months, there will be no legal online poker in the United States. Once this bill is enacted, the first license will be issued 15 months from that date.

"No qualified body may issue a license under this title before the date that is 15 months after the date of the enactment of this Act," said the draft of the bill. "Qualified bodies shall, to the extent practicable while meeting the requirements and standards of this title, issue multiple licenses on the date that is 15 months after the date of the enactment of this Act in order to ensure a robust and competitive market for consumers and to prevent the first licensees from gaining an unfair competitive advantage."

• Once the bill is enacted, current sites that offer play to players from the United States will have 30 days to cease those operations if they wish to receive a license.

"Not later than 30 days after the date of the enactment of this Act, cease offering, accepting and providing services with respect to bets or wagers from persons located in the United States"

• Sites will then inform players about how to withdraw their money. If they do not withdraw within two years, the money will then be sent into an escrow account "for safekeeping and orderly disposition as the Secretary may direct."

• The rumored blackout, in which current online sites could not get a license for an additional two years, seems to have been removed from this draft.

• The Unlawful Internet Gambling Enforcement Act has changed in accordance with the new regulations and this should open up the ability for players to deposit with ease.

"A financial transaction provider shall not be held liable for engaging in a financial activity or transaction, including a payments processing activity, in connection with a bet or wager permitted by the Prohibition of Internet Gambling, Internet Poker Regulation, and Strengthening UIGEA Act of 2010 or the Interstate Horseracing Act of 1978 (15 U.S.C. 3001 et seq.) unless the financial transaction provider has knowledge or reason to know that the financial activity or transaction was conducted in violation of either such Act or any other applicable provision of Federal or State law."

• Sites will have to pay 20 percent of the revenue generated as a licensing fee.

"Each person who is a licensee shall be required to pay not later than 15 days after the end of each calendar month an Internet poker license fee equal to 20 percent of a licensee's Internet poker receipts for that calendar month."

• The sites will report every player's winnings and losses, as required.
• Hardware for the sites that obtain a license will be located in the United States.
• Each license carries a five-year term.

• If the sites that should have a license do not apply for one and continue to act against policy, there are severe consequences:

"Notwithstanding any other provision of law, the Secretary may assess upon a person that is required to obtain a license under this title, but fails to obtain a license under this title, a civil penalty of not more than the greater of (i) the amount of bets or wagers taken by the person from players in the United States during the period that a license was needed but not held by the person; or (ii) $1,000,000 per day that the person accepts bets or wagers from players in the United States during the period that a license was needed but not held by the person."

There will also be studies created regarding Internet gambling and all sites will have a feature to allow players to exclude themselves from the activity.