Poker fan Pete indulges in horseplay - The Shields Gazette - 30th April 2009
A Boldon man turned up to a North East poker festival dressed as a Grand National runner.
Pete Turner, 32, from East Boldon, made up in laughs what he lacked in poker luck – going out in the fifth level.
It was the second time the Virgin Poker festival has came to Newcastle, and saw both amateur and professional players competing for a slice of the £30,000 prize pot.
One group of players from South Shields turned up in full Newcastle United football strips, hoping their luck would change after the 2-0 defeat to Chelsea.
However it was Ross Jarvis, 24, from London, who entered the last table with the most chips, and maintained his lead throughout the final leg, winning the Virgin Poker festival title and the top prize of £7,000.
Joe Legge, Poker Manager for Virgin Poker, said: "It was great to return to Aspers Casino for a second time and bring the fun of the Virgin Games experience to the people of North East England."
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Thursday, April 30, 2009
PartyPoker Announces Million Dollar Rake Race, by Tom Jenkins - Poker News Daily - 29th April 2009
In May, players on PartyPoker will have a chance to race their way to a share of $1 million. This week, the site announced one of the richest rake races ever held online. The announcement comes just a few days before the third running of the PartyPoker Monthly Million.
First place in the PartyPoker $1 Million Rake Race will take home $20,000 in cash plus a $20,000 prize package to the upcoming World Series of Poker (WSOP) in Las Vegas. Players will have the entire month of May to generate as many Race Points as possible. These are fundamentally different than PartyPoints and depend on the rake taken in a real money cash game hand. Race Points are calculated by taking the total rake per user per hour and dividing it by the total number of hands played over the same time period. That figure is then multiplied by the number of raked hands played. A special multiplier is also used and is determined by a player’s rake divided by the total number of hands played.
It’s not as complicated as it sounds. Let’s say a player generated $5 in rake in an hour over a total of 100 hands. If only 80 of them were real money hands, then the number of rake points equals (5/100) x 80 x Multiplier. The multiplier in this case is three and can be derived by checking out the $1 Million Rake Race landing page on PartyPoker. The leader board will be updated at least once an hour so players can see where they stand. The runner up at the end of May will take home $18,000 plus a $20,000 WSOP package, third place pockets $15,000 and a WSOP package, fourth place earns $10,000, and the top 3,000 players will finish in the money.
The fourth through tenth place finishers plus the players who land in 50th, 100th, 300th, 500th, 750th, and 1,000th will win a $5,500 WSOP Experience prize package. These consist of one $1,500 buy-in to a side event of a player’s choosing, seven nights’ hotel accommodations, and travel for two. In addition, winners of the package have the ability to experience one diversion during their stay, including trips to nearby attractions such as the Grand Canyon, Hoover Dam, Las Vegas Motor Speedway, and Red Rock Canyon. Alternately, players can cruise the famed Las Vegas Strip in a helicopter or rove the desert in a dune buggy.
PartyPoker.com spokesman Warren Lush told Poker News Daily, “The Million Dollar Race is the biggest rake race for cash game players that we have ever offered on PartyPoker. The rewards are great, with the top ten winning WSOP packages and cash, but it has been structured to offer significant rewards all the way down to 3,000th place. This is just one of many great promotions that we have in the pipeline in the coming months.”
The PartyPoker WSOP qualifier takes place on Fridays at 18:10 ET and Saturdays at 14:15 ET. It awards a $12,000 Main Event package for every 20 players who enter and comes with a buy-in of $640. Several entries to it are up for grabs as part of the Million Dollar Rake Race, as the 1,250th, 1,500th, 1,750th, 2,000th, and 2,500th players will win their way in. Daily Satellite and Daily Final entries will also be given away.
This weekend marks the third running of the PartyPoker Monthly Million. The $1 million guaranteed prize pool tournament occurs on the first Sunday of every month and boasts a buy-in of $640. Players start with 20,000 chips and blind levels last 20 minutes each. The price of poker begins at 25-50 and then grows to 50-100 and 100-200. A five minute break takes place after every three levels and antes kick in starting at Level 6. A Mega Friday Satellite is one of the last chances players have to win their way into the high-stakes monthly tournament on PartyPoker. The $55 buy-in contest kicks off at 17:00 ET and guarantees at least 20 seats into the Monthly Million. Players can satellite in for free by participating in country specific freerolls and PartyPoints qualifiers.
According to traffic ranking site PokerScout.com PartyPoker is the fourth largest worldwide with a seven day running average of 4,450 cash game players. It is the second largest that does not accept U.S. players, trailing only the iPoker Network, which includes rooms such as Boyle Poker, CD Poker, Chili Poker, Mansion Poker, Paddy Power, Titan Poker, Tony G Poker, and William Hill. PartyPoker is owned by Party Gaming, a publicly traded company on the London Stock Exchange. (Credit: Poker News Daily)
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In May, players on PartyPoker will have a chance to race their way to a share of $1 million. This week, the site announced one of the richest rake races ever held online. The announcement comes just a few days before the third running of the PartyPoker Monthly Million.
First place in the PartyPoker $1 Million Rake Race will take home $20,000 in cash plus a $20,000 prize package to the upcoming World Series of Poker (WSOP) in Las Vegas. Players will have the entire month of May to generate as many Race Points as possible. These are fundamentally different than PartyPoints and depend on the rake taken in a real money cash game hand. Race Points are calculated by taking the total rake per user per hour and dividing it by the total number of hands played over the same time period. That figure is then multiplied by the number of raked hands played. A special multiplier is also used and is determined by a player’s rake divided by the total number of hands played.
It’s not as complicated as it sounds. Let’s say a player generated $5 in rake in an hour over a total of 100 hands. If only 80 of them were real money hands, then the number of rake points equals (5/100) x 80 x Multiplier. The multiplier in this case is three and can be derived by checking out the $1 Million Rake Race landing page on PartyPoker. The leader board will be updated at least once an hour so players can see where they stand. The runner up at the end of May will take home $18,000 plus a $20,000 WSOP package, third place pockets $15,000 and a WSOP package, fourth place earns $10,000, and the top 3,000 players will finish in the money.
The fourth through tenth place finishers plus the players who land in 50th, 100th, 300th, 500th, 750th, and 1,000th will win a $5,500 WSOP Experience prize package. These consist of one $1,500 buy-in to a side event of a player’s choosing, seven nights’ hotel accommodations, and travel for two. In addition, winners of the package have the ability to experience one diversion during their stay, including trips to nearby attractions such as the Grand Canyon, Hoover Dam, Las Vegas Motor Speedway, and Red Rock Canyon. Alternately, players can cruise the famed Las Vegas Strip in a helicopter or rove the desert in a dune buggy.
PartyPoker.com spokesman Warren Lush told Poker News Daily, “The Million Dollar Race is the biggest rake race for cash game players that we have ever offered on PartyPoker. The rewards are great, with the top ten winning WSOP packages and cash, but it has been structured to offer significant rewards all the way down to 3,000th place. This is just one of many great promotions that we have in the pipeline in the coming months.”
The PartyPoker WSOP qualifier takes place on Fridays at 18:10 ET and Saturdays at 14:15 ET. It awards a $12,000 Main Event package for every 20 players who enter and comes with a buy-in of $640. Several entries to it are up for grabs as part of the Million Dollar Rake Race, as the 1,250th, 1,500th, 1,750th, 2,000th, and 2,500th players will win their way in. Daily Satellite and Daily Final entries will also be given away.
This weekend marks the third running of the PartyPoker Monthly Million. The $1 million guaranteed prize pool tournament occurs on the first Sunday of every month and boasts a buy-in of $640. Players start with 20,000 chips and blind levels last 20 minutes each. The price of poker begins at 25-50 and then grows to 50-100 and 100-200. A five minute break takes place after every three levels and antes kick in starting at Level 6. A Mega Friday Satellite is one of the last chances players have to win their way into the high-stakes monthly tournament on PartyPoker. The $55 buy-in contest kicks off at 17:00 ET and guarantees at least 20 seats into the Monthly Million. Players can satellite in for free by participating in country specific freerolls and PartyPoints qualifiers.
According to traffic ranking site PokerScout.com PartyPoker is the fourth largest worldwide with a seven day running average of 4,450 cash game players. It is the second largest that does not accept U.S. players, trailing only the iPoker Network, which includes rooms such as Boyle Poker, CD Poker, Chili Poker, Mansion Poker, Paddy Power, Titan Poker, Tony G Poker, and William Hill. PartyPoker is owned by Party Gaming, a publicly traded company on the London Stock Exchange. (Credit: Poker News Daily)
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Wednesday, April 29, 2009
A New Chance for Online Gambling in the U.S., By Eric Pfanner - The New York Times - 26th April 2009
PARIS — Is online gambling coming in from the cold?
When the U.S. Congress cracked down on Internet betting in 2006, the big, publicly traded European companies that had dominated the business closed up shop in the United States. Growth in the booming industry shifted away from these companies, once the darlings of the stock market, to private operators in offshore locations like Antigua and the Isle of Man.
But now, executives of some of the European companies whisper excitedly that they may soon get a second chance in the United States. Meanwhile, a number of European countries that have long maintained barriers are moving, under pressure from regulators, to legalize, and tax, online gambling.
“There’s still a lot of gambling going on, where there’s no revenue coming in to the governments,” said Gavin Kelleher, an analyst at the research firm H2 Gambling Capital in Ireland. “They realize they could use the revenue.”
The biggest potential change would be in the United States, where, perhaps within days, Representative Barney Frank, Democrat of Massachusetts, is expected to introduce legislation aimed at overturning the Unlawful Internet Gambling Enforcement Act.
“He supports the repeal and wants to move forward on it,” said Steve Adamske, communications director for the House Financial Services Committee, of which Mr. Frank is chairman.
Mr. Frank tried and failed to do so once before, in 2007. But advocates of liberalization think they might get a friendlier hearing in Washington this time around. President Barack Obama, they note, boasted of his poker prowess during the election campaign. And the Democrats, who are seen as less hostile to Internet gambling than the Republicans, have tightened their grip on Congress.
A study by PricewaterhouseCoopers says the U.S. government could raise more than $50 billion over 10 years from taxes on legalized online gambling.
“I’d be amazed if it didn’t happen over the next two or three years,” said Clive Hawkswood, chief executive of the Remote Gambling Association, a trade group based in London. “It’s just a question of what exactly the regulations will say.”
Some analysts say that may be getting a little bit ahead of the game. Opponents of a repeal, including the Christian Coalition of America and the National Football League, have vowed to fight any new effort to end the ban.
Michele Combs, a spokeswoman for the Christian Coalition, said the group was gearing up for a “massive campaign” of letter-writing and lobbying to try to prevent any loosening of the law.
“We’re not saying people shouldn’t go to Las Vegas,” she said. “But when it’s in your home, it’s too easy. It breaks up families.”
U.S. sports leagues, meanwhile, worry that the ease of online betting increases the chances of game-fixing. Even the most bullish advocates of online gambling acknowledge that Internet sports betting — as opposed to poker or casino games — is highly unlikely to be legalized.
“There’s a better chance now for some sort of gaming legislation to be approved,” said Nick Batram, an analyst at KBC Peel Hunt, a brokerage firm in London. “But it took longer than expected to put anti-gaming legislation in place, and it will probably will take longer than expected to remove it.”
Since the 2006 law was passed, North America, once the biggest market, has been passed by Europe and Asia, according to figures from H2 Gambling Capital. The law makes it illegal for financial institutions to handle payments to online gambling sites. But enough people have found ways around it, some by using overseas payment processors, to ensure that online gambling remains a thriving business. H2 says online gambling generated revenue of $6 billion last year in North America, more than a quarter the global total of $22.6 billion, up from $17.6 billion in 2006.
Pulling out of the United States cost PartyGaming about three-quarters of its business. Its position as the biggest online poker provider has been taken over by PokerStars, a privately held operator based on the Isle of Man.
This month, PartyGaming agreed to a $105 million settlement with the U.S. attorney’s office in New York, involving the period before 2006, when it acknowledged that its activities had been “contrary to certain U.S. laws.” In turn, the U.S. authorities agreed not to prosecute the company, which is listed on the London Stock Exchange, or its executives.
The agreement fueled speculation that PartyGaming might be trying to position itself for a return to the U.S. market, if online gambling were legalized.
Analysts say one possibility for European companies like PartyGaming, should the ban be lifted, would be to form partnerships with American casino operators. That would allow the European companies to share their online expertise. Operating alone, they might struggle to obtain licenses, given their history of run-ins with U.S. law enforcement, analysts said.
“It’s my feeling that even if the market were opened up, the U.S. government, in a palatable way, would probably find a way to give local companies a favorable position,” Mr. Batram said.
So far, Las Vegas executives have maintained a cautious stance about legalization of online gambling. Steve Wynn, chief executive of Wynn Resorts, said in an e-mail message that he thought it would be “impossible to regulate.”
“Even though it would be a benefit to our company, we are strongly opposed,” he said.
But speculation that Las Vegas casino operators were looking into the possibilities was fueled by recent reports that Harrah’s Entertainment, which owns Caesars Palace and other casinos, recently hired Mitch Garber, former chief executive of PartyGaming, for an unspecified role. Harrah’s did not return calls.
Mr. Ryan said that PartyGaming planned to focus on acquisition opportunities to increase its market share in Europe and elsewhere, something that was difficult as long as investors were worried about the U.S. litigation. “We think Mr. Frank’s efforts are quite meaningful to the sector,” he said.
Several other online gambling companies whose shares are traded in London, including 888 Holdings and Sportingbet, are still in talks with the U.S. Justice Department. Analysts expect them, along with companies like Bwin International, whose stock is traded in Vienna, to be involved in a round of consolidation in the industry — along with a possible eventual move back into the United States.
As they await developments in Washington, online gambling companies are looking for growth in Europe and Asia. Under pressure from regulators in Brussels, several European Union members, including France, Italy, Spain and Denmark, have been moving to legalize some kinds of online gambling, turning it into a regulated and taxed business. Britain was the first big European country to do so, in 2005.
Other countries, like Germany, Greece and the Netherlands, continue to hold out, though, in what the European Commission sees as an effort to protect government-sponsored gambling monopolies from private competition.
The commission in March published a report arguing that the United States was violating World Trade Organization rules by keeping out European online gambling companies, given that online betting on horse racing is permitted in the United States. But the commission said that it favored negotiations, rather than legal action, to end the dispute.
Also in March, however, the European Parliament adopted a separate measure supporting the right of individual E.U. member states to make their own rules on online gambling.
“It’s interesting that the European Commission is telling the U.S. it’s persecuting European companies when it can’t even get its own house sorted out,” Mr. Batram said.
(Credit: The New York Times)
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PARIS — Is online gambling coming in from the cold?
When the U.S. Congress cracked down on Internet betting in 2006, the big, publicly traded European companies that had dominated the business closed up shop in the United States. Growth in the booming industry shifted away from these companies, once the darlings of the stock market, to private operators in offshore locations like Antigua and the Isle of Man.
But now, executives of some of the European companies whisper excitedly that they may soon get a second chance in the United States. Meanwhile, a number of European countries that have long maintained barriers are moving, under pressure from regulators, to legalize, and tax, online gambling.
“There’s still a lot of gambling going on, where there’s no revenue coming in to the governments,” said Gavin Kelleher, an analyst at the research firm H2 Gambling Capital in Ireland. “They realize they could use the revenue.”
The biggest potential change would be in the United States, where, perhaps within days, Representative Barney Frank, Democrat of Massachusetts, is expected to introduce legislation aimed at overturning the Unlawful Internet Gambling Enforcement Act.
“He supports the repeal and wants to move forward on it,” said Steve Adamske, communications director for the House Financial Services Committee, of which Mr. Frank is chairman.
Mr. Frank tried and failed to do so once before, in 2007. But advocates of liberalization think they might get a friendlier hearing in Washington this time around. President Barack Obama, they note, boasted of his poker prowess during the election campaign. And the Democrats, who are seen as less hostile to Internet gambling than the Republicans, have tightened their grip on Congress.
A study by PricewaterhouseCoopers says the U.S. government could raise more than $50 billion over 10 years from taxes on legalized online gambling.
“I’d be amazed if it didn’t happen over the next two or three years,” said Clive Hawkswood, chief executive of the Remote Gambling Association, a trade group based in London. “It’s just a question of what exactly the regulations will say.”
Some analysts say that may be getting a little bit ahead of the game. Opponents of a repeal, including the Christian Coalition of America and the National Football League, have vowed to fight any new effort to end the ban.
Michele Combs, a spokeswoman for the Christian Coalition, said the group was gearing up for a “massive campaign” of letter-writing and lobbying to try to prevent any loosening of the law.
“We’re not saying people shouldn’t go to Las Vegas,” she said. “But when it’s in your home, it’s too easy. It breaks up families.”
U.S. sports leagues, meanwhile, worry that the ease of online betting increases the chances of game-fixing. Even the most bullish advocates of online gambling acknowledge that Internet sports betting — as opposed to poker or casino games — is highly unlikely to be legalized.
“There’s a better chance now for some sort of gaming legislation to be approved,” said Nick Batram, an analyst at KBC Peel Hunt, a brokerage firm in London. “But it took longer than expected to put anti-gaming legislation in place, and it will probably will take longer than expected to remove it.”
Since the 2006 law was passed, North America, once the biggest market, has been passed by Europe and Asia, according to figures from H2 Gambling Capital. The law makes it illegal for financial institutions to handle payments to online gambling sites. But enough people have found ways around it, some by using overseas payment processors, to ensure that online gambling remains a thriving business. H2 says online gambling generated revenue of $6 billion last year in North America, more than a quarter the global total of $22.6 billion, up from $17.6 billion in 2006.
Pulling out of the United States cost PartyGaming about three-quarters of its business. Its position as the biggest online poker provider has been taken over by PokerStars, a privately held operator based on the Isle of Man.
This month, PartyGaming agreed to a $105 million settlement with the U.S. attorney’s office in New York, involving the period before 2006, when it acknowledged that its activities had been “contrary to certain U.S. laws.” In turn, the U.S. authorities agreed not to prosecute the company, which is listed on the London Stock Exchange, or its executives.
The agreement fueled speculation that PartyGaming might be trying to position itself for a return to the U.S. market, if online gambling were legalized.
Analysts say one possibility for European companies like PartyGaming, should the ban be lifted, would be to form partnerships with American casino operators. That would allow the European companies to share their online expertise. Operating alone, they might struggle to obtain licenses, given their history of run-ins with U.S. law enforcement, analysts said.
“It’s my feeling that even if the market were opened up, the U.S. government, in a palatable way, would probably find a way to give local companies a favorable position,” Mr. Batram said.
So far, Las Vegas executives have maintained a cautious stance about legalization of online gambling. Steve Wynn, chief executive of Wynn Resorts, said in an e-mail message that he thought it would be “impossible to regulate.”
“Even though it would be a benefit to our company, we are strongly opposed,” he said.
But speculation that Las Vegas casino operators were looking into the possibilities was fueled by recent reports that Harrah’s Entertainment, which owns Caesars Palace and other casinos, recently hired Mitch Garber, former chief executive of PartyGaming, for an unspecified role. Harrah’s did not return calls.
Mr. Ryan said that PartyGaming planned to focus on acquisition opportunities to increase its market share in Europe and elsewhere, something that was difficult as long as investors were worried about the U.S. litigation. “We think Mr. Frank’s efforts are quite meaningful to the sector,” he said.
Several other online gambling companies whose shares are traded in London, including 888 Holdings and Sportingbet, are still in talks with the U.S. Justice Department. Analysts expect them, along with companies like Bwin International, whose stock is traded in Vienna, to be involved in a round of consolidation in the industry — along with a possible eventual move back into the United States.
As they await developments in Washington, online gambling companies are looking for growth in Europe and Asia. Under pressure from regulators in Brussels, several European Union members, including France, Italy, Spain and Denmark, have been moving to legalize some kinds of online gambling, turning it into a regulated and taxed business. Britain was the first big European country to do so, in 2005.
Other countries, like Germany, Greece and the Netherlands, continue to hold out, though, in what the European Commission sees as an effort to protect government-sponsored gambling monopolies from private competition.
The commission in March published a report arguing that the United States was violating World Trade Organization rules by keeping out European online gambling companies, given that online betting on horse racing is permitted in the United States. But the commission said that it favored negotiations, rather than legal action, to end the dispute.
Also in March, however, the European Parliament adopted a separate measure supporting the right of individual E.U. member states to make their own rules on online gambling.
“It’s interesting that the European Commission is telling the U.S. it’s persecuting European companies when it can’t even get its own house sorted out,” Mr. Batram said.
(Credit: The New York Times)
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New York Times Analyzes Online Gaming Issue, by Earl Burton - Poker News Daily - 28th April 2009
When the tides of change swept Washington D. C. in November of 2008 with the presidential election, there were many areas that Americans believed would be altered. While not foremost on the minds of most elected officials, one of those policies considered for change is the legislation on online gaming and poker. An article in Monday’s New York Times offers that the time for discussions about legalizing and regulating the online gaming and poker industry could be now.
The article, entitled “A New Chance For Online Gambling In The U. S.” and written by New York Times writer Eric Pfanner in the Technology section of the paper, is an excellent recount of the history of the discussion on online gaming and how it has not only affected the United States but companies worldwide. Pfanner accurately points out how, when the Bush administration enacted the Unlawful Internet Gaming Enforcement Act (UIGEA) in 2006, several companies that were freely traded on many foreign stock exchanges and had accepted regulation of their industry were forced out of the U. S. market. This left it open to companies that, while solid members of the online gaming and poker markets, were located in areas of the world that lacked the regulation required by other nations.
Pfanner reports that one of the stalwarts of the regulation movement, Massachusetts Representative Barney Frank, could be “days away” from proposing the key legislation that would overturn the UIGEA. Frank made the same efforts in 2007 but was quashed by the administration in power as well as major lobbying efforts from the National Football League and the Christian Coalition. This time around, Pfanner reports, there is a more open-minded administration under President Obama and the Democrats have a firm control on both houses of Congress, opening up the possibility of regulation.
As expected, there is a great deal of posturing on both sides of the debate. In Pfanner’s article, Clive Hawkswood, one of the chief executives of the trade group Remote Gambling Association in London, states, “I’d be amazed if it didn’t happen over the next two or three years. It’s just a question of what exactly the regulations will say.” Others, such as spokeswoman Michele Combs of the Christian Coalition, are mobilizing their forces to mount an anti-gaming campaign and maintain the status quo.
Perhaps the most surprising voice in the opposition to the legalization and regulation of online gaming and poker is none other than Las Vegas billionaire Steve Wynn. According to Pfanner’s article Wynn – who created the poker destinations of the Mirage, the Bellagio and the Wynn Hotel – stated that the online world would be impossible to regulate. He is quoted in the article as saying via e-mail, “Even though it would be a benefit to our company, we are strongly opposed.”
Also mentioned in Pfanner’s examination of the online gaming and poker world is how Europe handles the industry. He discusses how England has enacted gaming regulation successfully but also demonstrates that other nations, such as Germany, Greece and the Netherlands, aren’t as willing to enact regulation because it would affect their state-run gaming operations. While Europe and other nations have been active in trying to enforce free trade rights in the U. S. through the World Trade Organization, Pfanner surmises at the end of the article that these nations should figure out how they want to handle the issue between their own borders before attacking the United States.
While there has been a great deal of change in different legislative arenas of the U. S. - both good and bad - Pfanner’s work details out the difficulties and politics of the online gaming and poker question not only in America but also around the world. Regulation of the industry would generate a sizeable amount of revenue for the U. S., but whether online poker players are any closer to the freedom of playing the game without rebuke is still a burning question. (Credit: Poker News Daily)
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When the tides of change swept Washington D. C. in November of 2008 with the presidential election, there were many areas that Americans believed would be altered. While not foremost on the minds of most elected officials, one of those policies considered for change is the legislation on online gaming and poker. An article in Monday’s New York Times offers that the time for discussions about legalizing and regulating the online gaming and poker industry could be now.
The article, entitled “A New Chance For Online Gambling In The U. S.” and written by New York Times writer Eric Pfanner in the Technology section of the paper, is an excellent recount of the history of the discussion on online gaming and how it has not only affected the United States but companies worldwide. Pfanner accurately points out how, when the Bush administration enacted the Unlawful Internet Gaming Enforcement Act (UIGEA) in 2006, several companies that were freely traded on many foreign stock exchanges and had accepted regulation of their industry were forced out of the U. S. market. This left it open to companies that, while solid members of the online gaming and poker markets, were located in areas of the world that lacked the regulation required by other nations.
Pfanner reports that one of the stalwarts of the regulation movement, Massachusetts Representative Barney Frank, could be “days away” from proposing the key legislation that would overturn the UIGEA. Frank made the same efforts in 2007 but was quashed by the administration in power as well as major lobbying efforts from the National Football League and the Christian Coalition. This time around, Pfanner reports, there is a more open-minded administration under President Obama and the Democrats have a firm control on both houses of Congress, opening up the possibility of regulation.
As expected, there is a great deal of posturing on both sides of the debate. In Pfanner’s article, Clive Hawkswood, one of the chief executives of the trade group Remote Gambling Association in London, states, “I’d be amazed if it didn’t happen over the next two or three years. It’s just a question of what exactly the regulations will say.” Others, such as spokeswoman Michele Combs of the Christian Coalition, are mobilizing their forces to mount an anti-gaming campaign and maintain the status quo.
Perhaps the most surprising voice in the opposition to the legalization and regulation of online gaming and poker is none other than Las Vegas billionaire Steve Wynn. According to Pfanner’s article Wynn – who created the poker destinations of the Mirage, the Bellagio and the Wynn Hotel – stated that the online world would be impossible to regulate. He is quoted in the article as saying via e-mail, “Even though it would be a benefit to our company, we are strongly opposed.”
Also mentioned in Pfanner’s examination of the online gaming and poker world is how Europe handles the industry. He discusses how England has enacted gaming regulation successfully but also demonstrates that other nations, such as Germany, Greece and the Netherlands, aren’t as willing to enact regulation because it would affect their state-run gaming operations. While Europe and other nations have been active in trying to enforce free trade rights in the U. S. through the World Trade Organization, Pfanner surmises at the end of the article that these nations should figure out how they want to handle the issue between their own borders before attacking the United States.
While there has been a great deal of change in different legislative arenas of the U. S. - both good and bad - Pfanner’s work details out the difficulties and politics of the online gaming and poker question not only in America but also around the world. Regulation of the industry would generate a sizeable amount of revenue for the U. S., but whether online poker players are any closer to the freedom of playing the game without rebuke is still a burning question. (Credit: Poker News Daily)
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Party Poker May Million Dollar Rake Race - 28th April 2009
Party Poker are celebrating spring with an excellent million dollar rake race taking place throughout May. Part of the Party Gaming Group, the poker site has quickly become popular with players , largely due to its promotions and extra features.
The May Million Dollar Race will involve 3000 players all competing to win a part of the $1,000,000. Beginning on the 1st May the monthly race is expected to attracted thousands of players.
The user who finishes at the top of the leaderboard will take home a huge $20,000 as well as a WSOP package worth the same amount. Simply play at Party Poker throughout May and try to win as much as possible.
The top ten players will all win a WSOP package which includes, travel, accommodation, entry fees for the event as well as spending money.
A PartyPoker.com spokesman said, “This promotion is simple - the more Race Points you earn the higher up in the leaderboard you climb and the more cash and prizes you can win. We are under starters’ orders and off for our biggest ever rake race this Friday. The race has great prizes from 1st through to 3000th!”
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Party Poker are celebrating spring with an excellent million dollar rake race taking place throughout May. Part of the Party Gaming Group, the poker site has quickly become popular with players , largely due to its promotions and extra features.
The May Million Dollar Race will involve 3000 players all competing to win a part of the $1,000,000. Beginning on the 1st May the monthly race is expected to attracted thousands of players.
The user who finishes at the top of the leaderboard will take home a huge $20,000 as well as a WSOP package worth the same amount. Simply play at Party Poker throughout May and try to win as much as possible.
The top ten players will all win a WSOP package which includes, travel, accommodation, entry fees for the event as well as spending money.
A PartyPoker.com spokesman said, “This promotion is simple - the more Race Points you earn the higher up in the leaderboard you climb and the more cash and prizes you can win. We are under starters’ orders and off for our biggest ever rake race this Friday. The race has great prizes from 1st through to 3000th!”
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Tuesday, April 28, 2009
Companies Gearing Up for Intra-State Poker Will Dominate Internet Gambling -iGaming - 27th April 2009
Implications
Harrah's is rumored to have hired Mitch Garber, former CEO of PartyGaming (PYGFM), to head its World Series of Poker and online gaming operations. PYGFM itself settled with the federal Department of Justice, and is looking to now get back into the U.S. Rep. Barney Frank had to delay repealing the UIGEA, but the states are moving ahead with intra-state gambling, particularly poker in California. And the operators who get in on the ground floor will be in the best position to control the entire U.S. market.
Analysis
The continuing financial crisis has delayed Frank's reintroduction in Congress of his bill to amend the UIGEA, to create a federal regulatory and taxing authority. But even under existing law, states like California are actively looking at expanding Internet gambling. More than 20 states already have at-home betting on horseracing, so there is no logical reason to not have the same for dogracing, or poker. The California bills authorizing Internet poker have actually already been introduced, though the specific language will be added by amendment in late May or early June. California is such an enormous market, that the gaming companies that are most successful if the state legalizes intra-state poker will dominate the U.S. and even the world markets when Congress allows interstate compacts. PartyPoker captured 40% of all online poker by being one of the first, with the best marketing.
Harrah's already works with California Indian tribes and for years has been trying to buy a California cardclub. It has an active online play for fun site. The rumors about Mitch Garber, who reached his own settlement with the DoJ, may or may not be true. But Harrah's won't let an opportunity like California Internet poker go by. PYGFM is already looking to get in, but bad blood with Garber may prevent any deal with Harrah's.
A wild card is Lakes Entertainment (LACO), headed by expert poker player Lyle Berman, with strong ties to the World Poker Tour and a California tribe. Most other gaming companies are either too worried about, or already in, bankruptcy -- MGM Mirage (MGM), Las Vegas Sands (LVS), Trump Entertainment Resorts (TRMPQ), Station Casinos, Herbst Gaming, Greektown Holdings, Legends Gaming, Magna Entertainment (MECAQ), Progressive Gaming (PGICQ), Greek Isles, Tropicana Entertainment, Riviera Holdings (RIV), Hooters, Empire Resorts (NYNY), UTGR, Majestic HoldCo.
Penn National Gaming (PENN) and to a lesser extent Wynn Resorts (WYNN) and Boyd Gaming (BYD)are in great shape, but have never shown much interest in the Internet, and are looking to pick up land-based casinos at bargain prices from MGM. Regional gaming companies like Isle of Capri Casinos (ISLE) and Pinnacle Entertainment (PNK) and foreign landbased operators have no natural ties with California.
Internet operators, on the other hand, want in. Publicly traded companies that pulled out of the U.S. market are looking into following PYGFM's lead. SportingBet and 888 Holdings are in discussions with the DoJ to pay cash for settlements giving them a clean bill of health and the right to start taking legal bets from Americans, as soon as the law is made clear.
Media Man Australia Profiles
Poker
iGaming
World Series of Poker
UIGEA
PartyGaming
PartyPoker.com
888
Poker News
Implications
Harrah's is rumored to have hired Mitch Garber, former CEO of PartyGaming (PYGFM), to head its World Series of Poker and online gaming operations. PYGFM itself settled with the federal Department of Justice, and is looking to now get back into the U.S. Rep. Barney Frank had to delay repealing the UIGEA, but the states are moving ahead with intra-state gambling, particularly poker in California. And the operators who get in on the ground floor will be in the best position to control the entire U.S. market.
Analysis
The continuing financial crisis has delayed Frank's reintroduction in Congress of his bill to amend the UIGEA, to create a federal regulatory and taxing authority. But even under existing law, states like California are actively looking at expanding Internet gambling. More than 20 states already have at-home betting on horseracing, so there is no logical reason to not have the same for dogracing, or poker. The California bills authorizing Internet poker have actually already been introduced, though the specific language will be added by amendment in late May or early June. California is such an enormous market, that the gaming companies that are most successful if the state legalizes intra-state poker will dominate the U.S. and even the world markets when Congress allows interstate compacts. PartyPoker captured 40% of all online poker by being one of the first, with the best marketing.
Harrah's already works with California Indian tribes and for years has been trying to buy a California cardclub. It has an active online play for fun site. The rumors about Mitch Garber, who reached his own settlement with the DoJ, may or may not be true. But Harrah's won't let an opportunity like California Internet poker go by. PYGFM is already looking to get in, but bad blood with Garber may prevent any deal with Harrah's.
A wild card is Lakes Entertainment (LACO), headed by expert poker player Lyle Berman, with strong ties to the World Poker Tour and a California tribe. Most other gaming companies are either too worried about, or already in, bankruptcy -- MGM Mirage (MGM), Las Vegas Sands (LVS), Trump Entertainment Resorts (TRMPQ), Station Casinos, Herbst Gaming, Greektown Holdings, Legends Gaming, Magna Entertainment (MECAQ), Progressive Gaming (PGICQ), Greek Isles, Tropicana Entertainment, Riviera Holdings (RIV), Hooters, Empire Resorts (NYNY), UTGR, Majestic HoldCo.
Penn National Gaming (PENN) and to a lesser extent Wynn Resorts (WYNN) and Boyd Gaming (BYD)are in great shape, but have never shown much interest in the Internet, and are looking to pick up land-based casinos at bargain prices from MGM. Regional gaming companies like Isle of Capri Casinos (ISLE) and Pinnacle Entertainment (PNK) and foreign landbased operators have no natural ties with California.
Internet operators, on the other hand, want in. Publicly traded companies that pulled out of the U.S. market are looking into following PYGFM's lead. SportingBet and 888 Holdings are in discussions with the DoJ to pay cash for settlements giving them a clean bill of health and the right to start taking legal bets from Americans, as soon as the law is made clear.
Media Man Australia Profiles
Poker
iGaming
World Series of Poker
UIGEA
PartyGaming
PartyPoker.com
888
Poker News
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