Mike Sexton Reviews the WPT Championship, by Mike Sexton - Poker News Daily - 9th May 2009
We just completed Season VII of the World Poker Tour (WPT) with the $25,000 buy-in Championship event at Bellagio. Due to the economic slowdown, the number of entries was down substantially from a year ago (545 to 347). However, most of the big names in the poker world were there and the event was incredible. What most players really liked was that they were given $100,000 in starting chips and only played five levels (90 minutes each) per day. You didn’t have to play those 12 to 14 hour days like you do at many big-time poker tournaments.
Kudos to Tournament Director Jack McClelland and the staff at Bellagio for the structure and hours they set up for play. I have yet to hear one player complain about this setup - starting at noon, playing five levels, and then stopping for the day at 8:30 pm (with no dinner break necessary). If there was a complaint, it was that we started the blinds too low ($50-$100). It’s not often you hear players wanting to kick up the blinds!
My co-commentator Vince Van Patten and I were not allowed to enter any WPT events during the first six seasons, but the WPT now encourages us to play some if we want to. So, I decided to play and unfortunately ended up contributing $25,000 to the WPT Championship prize pool. I lasted two and half days and went out around 100th place (which paid zip, as only the top 50 made the money). I must say that I really did enjoy playing even though I got knocked out. To compete against top players (old and the new) is challenging and fun. And like nearly all who get eliminated from any tournament, I’ll join them and say, “I just didn’t catch enough cards or have any luck.”
OK, OK. I know you’re dying to know how I went out. After two folds, Nick Binger (who was probably the chip leader at our table with about $550,000) was playing well and aggressive and made it $12,000 to go. I had an A-K offsuit and about $150,000 in front of me. I contemplated calling (because I hate A-K) and moving all-in, but I decided to re-raise it to $36,000 so I could still get away from this hand if someone behind me came over the top. Everyone folded and Nick took a long time before deciding to call. The flop came A-10-6, all diamonds. He checked. Now what would you do with nearly $85,000 in the pot? I moved all-in. He had the Q-J of diamonds, flopped a flush, and quickly called. Bye-bye Mike. Back to the booth. I don’t really fault my play here, but in hindsight, I wish I had moved all-in pre-flop with the A-K.
There’s always a lot of pain dished out during any tournament, but Jennifer Harman’s tale of woe, considering when it came, would be tough for anyone to take. She played for five days, got down to 11 players, picked up two Aces, re-raised with them, and then got all of her money (over $800,000) in pre-flop. He held the 10-2 of hearts (and no, she wasn’t up against Doyle Brunson). A deuce on the flop and a ten on the turn shattered Jennifer’s dream of taking this title.
When the smoke cleared, the final table (six players) was pretty incredible. It consisted of two WPT champions (Scotty Nguyen and Bertrand “Elky” Grospellier) and three others under the age of 24, including the two chip leaders, who were both 21: Yevgeniy Timoshenko and Christian Harder. In addition, Shannon Shorr had over $3 million in career earnings.
What can you say about Scotty Nguyen when it comes to performing, but “wow”? The guy has five World Series of Poker bracelets (including the Main Event in 1998 and the $50,000 HORSE tournament last year), a WPT title, and eight WPT final table appearances. “Elky” is the hottest guy on the circuit right now. He already has both WPT and EPT titles on his resume and if he would finish fourth or better in this tournament, he would attain the coveted “WPT Player of the Year” award. He did just that with his third place finish! Nice going, Elky!
Folks, now let me introduce you to the next superstar of the poker world: Yevgeniy Timoshenko. He’s 21 years, two months old (and looks like he’s 13). He’s originally from the Ukraine, but grew up in Washington. Let me tell you, the kid is amazing and fearless on the green felt. Prior to this event, he had already earned nearly $1 million in non-U.S. tournaments. He won the Asian Poker Tour championship event in Macau, won an event at the Irish Open, and made a final table at last year’s WSOP Europe. He came to this final table as the big chip leader and rolled over the competition, going wire to wire for the victory. Think about it, the guy just turned 21 and already has over $3 million in career earnings!
Besides his poker skills, here are some things that really impress me about the kid: He’s well-mannered, well-spoken, and has a lot of class. As soon as he made this final table, he went out and bought himself a suit and got a haircut. I hope others follow his example: You look good, you feel good, you play good. Congratulations, Yevgeniy!
Final Results of the WPT Championship:
1st place - Yevgeniy Timoshenko ($2,149,960)
2nd place - Ran Azor ($1,446,265)
3rd place - Betrand “Elky” Grospellier ($776,245)
4th place - Christian Harder ($571,965)
5th place - Shannon Shorr ($408,550)
6th place - Scotty Ngyuen ($285,985)(Credit: Poker News Daily)
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Saturday, May 09, 2009
Portugal to Host World Poker Congress
The fourth annual World Poker Congress (WPC) will take place in Porto, Portugal on the 24th and 25th of June 2009. Poker representatives like Jim Ryan and Steven Lipscomb will be attending.
Next month will see the gathering of the major players in both online and casino poker as they come together to discuss all things poker. From the latest online advancements to the current situation regarding online legislation, all will be up for debate and discussion.
The World Poker Congress is an opportunity for those who work in the poker industry to meet like-minded people, discuss possible deals, seek out new ventures and weigh up the competition over networking events, refreshment breaks and lunches.
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The fourth annual World Poker Congress (WPC) will take place in Porto, Portugal on the 24th and 25th of June 2009. Poker representatives like Jim Ryan and Steven Lipscomb will be attending.
Next month will see the gathering of the major players in both online and casino poker as they come together to discuss all things poker. From the latest online advancements to the current situation regarding online legislation, all will be up for debate and discussion.
The World Poker Congress is an opportunity for those who work in the poker industry to meet like-minded people, discuss possible deals, seek out new ventures and weigh up the competition over networking events, refreshment breaks and lunches.
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Friday, May 08, 2009
Jim McDermott Introduces Internet Gambling Tax Act, by Dan Cypra - Poker News Daily - 7th May 2009
Shortly after Congressman Barney Frank (D-MA) introduced comprehensive internet gambling legislation on Wednesday, Congressman Jim McDermott (D-WA) introduced the Internet Gambling Regulation and Tax Enforcement Act, HR 2268.
The companion legislation to Frank’s bill will allow the United States Government to extract tax revenue from the internet gambling industry. The bill’s text notes, “Each licensee… shall be required to pay an internet gambling license fee by the end of each calendar month in an amount equal to two percent of all funds deposited by customers during the preceding month.” In terms of how the costs can be passed onto the end consumer, HR 2268 states that the 2% fee “may not be deducted from the amounts available as deposits by the person placing a bet.” Individuals are expected to pay income tax on any internet gambling winnings.
Unauthorized bets or wagers are taxed at a hefty 50% and all money is sent to the United States Treasury. Full disclosure of the names and addresses of licensees, the gross wins and losses by each person wagering, the total of “net internet gambling winnings,” the amount of tax paid, and account balances are required once per year. In terms of bookkeeping under McDermott’s proposed bill, “Each person liable for fees… shall keep a daily record showing deposits… in addition to all other records required.”
In a press statement released on Wednesday, McDermott explained his rationale for once again championing internet gambling tax legislation: “We are losing billions of dollars in federal and state taxes every year because a prior Administration and its supporters drove legitimate U.S. online gambling off-shore by passing an ill-conceived late-night amendment in Congress that has done nothing except make Americans more vulnerable to scams when they wager online and cost us billions in lost revenue.” During the last Congress, McDermott’s legislation came in the form of HR 2607, which also prescribed that 2% of deposits would be taxed.
McDermott added, “These are merely the rightful collection of taxes where applicable. The billions of revenue that will be collected by the U.S. Treasury under my bill can be dedicated to pay for critically un-funded social safety net programs in America that could improve the lives of vulnerable children and others who deserve our help.” Also introduced during the last Congressional session by McDermott was HR 6501, which would have used revenue derived from internet gambling to fund programs for those currently or formerly in foster care as well as workers in declining industries. Although controversial in nature, HR 6501 was one of the first attempts to demonstrate what internet gambling tax revenue could potentially be used for.
HR 6501 was introduced last July and dubbed the Investing in our Human Resources Act. Congresswoman Shelley Berkley (D-NV) spoke out sharply against the bill. The author of the Internet Gambling Study Act called it “a classic case of putting the cart before the horse.” Fellow Nevada Congressman Jon Porter, who was not re-elected in 2008, called HR 6501 “a frivolous attack on the gaming community to pay for services that local governments, states, and the federal government should already be providing.” In the end, neither HR 2607 nor HR 6501 was acted upon during the 110th Congress.
A study by U.S.-based PricewaterhouseCoopers that was released this year revealed up to $52 billion could be derived from internet gambling over a 10 year period. The report used a bill similar to McDermott’s HR 2268 as well as Barney Frank’s Internet Gambling Regulation and Enforcement Act. However, the potential revenue was largely based on professional sports leagues allowing online wagering on their games. At the time of writing, the number of co-sponsors for HR 2266, HR 2267, and HR 2268 were not available on the Library of Congress website. (Credit: Poker News Daily)
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Shortly after Congressman Barney Frank (D-MA) introduced comprehensive internet gambling legislation on Wednesday, Congressman Jim McDermott (D-WA) introduced the Internet Gambling Regulation and Tax Enforcement Act, HR 2268.
The companion legislation to Frank’s bill will allow the United States Government to extract tax revenue from the internet gambling industry. The bill’s text notes, “Each licensee… shall be required to pay an internet gambling license fee by the end of each calendar month in an amount equal to two percent of all funds deposited by customers during the preceding month.” In terms of how the costs can be passed onto the end consumer, HR 2268 states that the 2% fee “may not be deducted from the amounts available as deposits by the person placing a bet.” Individuals are expected to pay income tax on any internet gambling winnings.
Unauthorized bets or wagers are taxed at a hefty 50% and all money is sent to the United States Treasury. Full disclosure of the names and addresses of licensees, the gross wins and losses by each person wagering, the total of “net internet gambling winnings,” the amount of tax paid, and account balances are required once per year. In terms of bookkeeping under McDermott’s proposed bill, “Each person liable for fees… shall keep a daily record showing deposits… in addition to all other records required.”
In a press statement released on Wednesday, McDermott explained his rationale for once again championing internet gambling tax legislation: “We are losing billions of dollars in federal and state taxes every year because a prior Administration and its supporters drove legitimate U.S. online gambling off-shore by passing an ill-conceived late-night amendment in Congress that has done nothing except make Americans more vulnerable to scams when they wager online and cost us billions in lost revenue.” During the last Congress, McDermott’s legislation came in the form of HR 2607, which also prescribed that 2% of deposits would be taxed.
McDermott added, “These are merely the rightful collection of taxes where applicable. The billions of revenue that will be collected by the U.S. Treasury under my bill can be dedicated to pay for critically un-funded social safety net programs in America that could improve the lives of vulnerable children and others who deserve our help.” Also introduced during the last Congressional session by McDermott was HR 6501, which would have used revenue derived from internet gambling to fund programs for those currently or formerly in foster care as well as workers in declining industries. Although controversial in nature, HR 6501 was one of the first attempts to demonstrate what internet gambling tax revenue could potentially be used for.
HR 6501 was introduced last July and dubbed the Investing in our Human Resources Act. Congresswoman Shelley Berkley (D-NV) spoke out sharply against the bill. The author of the Internet Gambling Study Act called it “a classic case of putting the cart before the horse.” Fellow Nevada Congressman Jon Porter, who was not re-elected in 2008, called HR 6501 “a frivolous attack on the gaming community to pay for services that local governments, states, and the federal government should already be providing.” In the end, neither HR 2607 nor HR 6501 was acted upon during the 110th Congress.
A study by U.S.-based PricewaterhouseCoopers that was released this year revealed up to $52 billion could be derived from internet gambling over a 10 year period. The report used a bill similar to McDermott’s HR 2268 as well as Barney Frank’s Internet Gambling Regulation and Enforcement Act. However, the potential revenue was largely based on professional sports leagues allowing online wagering on their games. At the time of writing, the number of co-sponsors for HR 2266, HR 2267, and HR 2268 were not available on the Library of Congress website. (Credit: Poker News Daily)
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Spencer Bachus Responds To Frank Bill, by Earl Burton - Poker News Daily - 7th May 2009
After the announcement on Wednesday of Massachusetts’ Democratic Representative Barney Frank’s bill to curb the Unlawful Internet Gaming Enforcement Act (UIGEA) of 2006, reaction has been quick. The ranking member of the House Financial Services Committee - of which Frank is the Chairman – has issued a negative response that should come as no surprise as he was one of the key players in the creation of the UIGEA.
Republican Representative Spencer Bachus of Alabama issued a statement after Rep. Frank’s announcement yesterday that insinuates that he will fight any legislation that Frank attempts to put into law. Rep. Bachus’ website trumpets proudly that he, “…is an author of the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006, which banned the use of credit cards and other financial instruments from being used for illegal on-line gambling.”
Rep. Bachus’ statement touches on many of the reasons that the Republican-led Congress used in 2006 for pushing the UIGEA through. “Illegal off-shore Internet gambling sites are a criminal enterprise and allowing them to operate unfettered in the United States would present a clear danger to our youth, who are subject to becoming addicted to gambling at an early age”, he states. He also offers that the passage of the UIGEA in 2006 was, “…commonsense, bipartisan legislation aimed at combating criminals from preying upon American’s youth. That legislation was supported by a broad coalition that included college presidents, the American Bankers Association, the American Psychiatric Association, and major sports organizations.”
Rep. Bachus does not comment, however, on how the UIGEA was tacked on to a piece of legislation that was viewed as a “must pass” portion of national security, the Port Act. He also fails to address that there was no debate over the UIGEA, either in committee or on either floor of Congress; in an important difference, Rep. Frank’s bill is being put to committee for discussion on its own merits and freely debated in the halls of Congress.
The bill that Rep. Frank is proposing is the H.R. 2267 - the Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 - and it would be a significant change to current views of Washington regarding the regulation of online gaming and poker. Language of the bill states, “Internet gambling in the United States should be controlled by a strict Federal licensing and regulatory framework to protect underage and otherwise vulnerable individuals, to ensure the games are fair, to address the concerns of law enforcement, and to enforce any limitations on the activity established by the States and Indian tribes.”
The federal government – and in particular the Secretary of the Treasury – would be in charge of licensing and regulating the online gaming industry under the Frank proposal. Companies that pursue licensing would have to provide in-depth detail as to their personal backgrounds and the solidity of their companies. It also includes a proviso that ensures the potential licensee would vigorously work against, “fraud, money laundering, and terrorist finance.” The licenses would last for a five year period and would not allow the holder of the license to partake of any actions that are covered by the Professional and Amateur Sports Protection Act, which explicitly prohibits sports betting.
With Rep. Frank finally proposing his bill to curb the UIGEA, the debate can now begin. It is thought, with a Democratic-controlled Congress as well as the current Obama Administration in the White House, that the possibilities for change regarding the online gaming and poker industry can be achieved. Poker News Daily will continue to monitor the situation in Washington and report on any new developments. (Credit: Poker News Daily)
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After the announcement on Wednesday of Massachusetts’ Democratic Representative Barney Frank’s bill to curb the Unlawful Internet Gaming Enforcement Act (UIGEA) of 2006, reaction has been quick. The ranking member of the House Financial Services Committee - of which Frank is the Chairman – has issued a negative response that should come as no surprise as he was one of the key players in the creation of the UIGEA.
Republican Representative Spencer Bachus of Alabama issued a statement after Rep. Frank’s announcement yesterday that insinuates that he will fight any legislation that Frank attempts to put into law. Rep. Bachus’ website trumpets proudly that he, “…is an author of the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006, which banned the use of credit cards and other financial instruments from being used for illegal on-line gambling.”
Rep. Bachus’ statement touches on many of the reasons that the Republican-led Congress used in 2006 for pushing the UIGEA through. “Illegal off-shore Internet gambling sites are a criminal enterprise and allowing them to operate unfettered in the United States would present a clear danger to our youth, who are subject to becoming addicted to gambling at an early age”, he states. He also offers that the passage of the UIGEA in 2006 was, “…commonsense, bipartisan legislation aimed at combating criminals from preying upon American’s youth. That legislation was supported by a broad coalition that included college presidents, the American Bankers Association, the American Psychiatric Association, and major sports organizations.”
Rep. Bachus does not comment, however, on how the UIGEA was tacked on to a piece of legislation that was viewed as a “must pass” portion of national security, the Port Act. He also fails to address that there was no debate over the UIGEA, either in committee or on either floor of Congress; in an important difference, Rep. Frank’s bill is being put to committee for discussion on its own merits and freely debated in the halls of Congress.
The bill that Rep. Frank is proposing is the H.R. 2267 - the Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 - and it would be a significant change to current views of Washington regarding the regulation of online gaming and poker. Language of the bill states, “Internet gambling in the United States should be controlled by a strict Federal licensing and regulatory framework to protect underage and otherwise vulnerable individuals, to ensure the games are fair, to address the concerns of law enforcement, and to enforce any limitations on the activity established by the States and Indian tribes.”
The federal government – and in particular the Secretary of the Treasury – would be in charge of licensing and regulating the online gaming industry under the Frank proposal. Companies that pursue licensing would have to provide in-depth detail as to their personal backgrounds and the solidity of their companies. It also includes a proviso that ensures the potential licensee would vigorously work against, “fraud, money laundering, and terrorist finance.” The licenses would last for a five year period and would not allow the holder of the license to partake of any actions that are covered by the Professional and Amateur Sports Protection Act, which explicitly prohibits sports betting.
With Rep. Frank finally proposing his bill to curb the UIGEA, the debate can now begin. It is thought, with a Democratic-controlled Congress as well as the current Obama Administration in the White House, that the possibilities for change regarding the online gaming and poker industry can be achieved. Poker News Daily will continue to monitor the situation in Washington and report on any new developments. (Credit: Poker News Daily)
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Party Poker Releases Dates for Sports Stars Challenge IV, by Brett Collson - Poker News Daily - 7th May 2009
Party Poker has released the dates for its PartyPoker.com Sports Stars Challenge IV, one of the most popular televised poker tournaments in Europe. The event will run from May 29-June 1 and will feature some of the world’s biggest sports stars, both past and present, taking their seats at the table in hopes of becoming a poker champion.
The Sports Stars Challenge IV will include some of the world’s best in motorsports, golf, boxing, rugby and darts. There will also be an online qualifier added to the field for the first time ever. The number of heats will increase from six to seven, with the winner of each of the seven heats advancing to the final table to battle it out until one of them walks away with the title. The overall winner receives £20,000 with second getting £10,000 and third receiving £5,000.
The motorsport table will feature Italian F1 driver Giancarlo Fisichella, while the golf heat will include both 2008 European Ryder Cup team member Graeme McDowell and Jean Van Der Velde. European football’s list of legends includes former Holland captain Frank De Boer, French World Cup winner Frank Leboeuf, Germany’s European Championship winner Thomas Helmer, Romania’s Florin Radiciou and Denmark and Liverpool legend Jan Molby.
Germany’s former unbeaten World Champion Sven Ottke will headline the boxing heat. He will be joined by Northern Ireland’s Commonwealth heavyweight and Prizefighter champion Martin Rogan and Poland’s female boxing champ Agnieska Rylik. The rugby heat will feature union’s former France and Wasps captain Raphael Ibanez and Australian league star Brad Drew, while the darts heat will pit legend Phil Taylor against Russia’s ladies champ Anastasia Dobromyslova.
PartyPoker.com players also had the chance to win a seat through a freeroll in the sports heat of their choice. The sports are European football (two heats), rugby (union and league combined), motorsport, boxing, darts and golf. Two online qualifiers will join each heat.
“We offered freerolls to win a seat in the event on the site”, a spokesperson for Party Poker said, “but the places were snapped up so quickly that we were loath to promote it too much to save the disappointment of players. This is a once in a lifetime experience for a select group to take to the felt with their sporting heroes. The overall lineup is the most diverse and international in the event’s history and more star participant names will be released in the near future.”
For the fourth consecutive year the event will be run by Matchroom Sport, a promotions company founded by English entrepreneur Barry Hearn. Matchroom Sport is typically involved in snooker and boxing events for the most part, but Hearn is thrilled to be involved in the Sports Stars challenge again.
“This is the poker event that the sporting world looks forward to and we have some great international names and great poker players competing for the trophy, big prize money and the ultimate bragging rights”, Hearn said. “We’re particularly excited to introduce the online element and the motorsport and golf heats this year.”
Past winners of Sports Stars Challenge are rugby union star Austin Healey, Irish snooker champion Ken Doherty, and television presenter Kara Scott, who won £20,000 last year after defeating Manchester United football legend Norman Whiteside heads-up. There is no presenter heat in the new format this year.
Coverage of the event will be aired in the UK later this year on Sky Sports and then distributed internationally. (Credit: Poker News Daily)
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Party Poker has released the dates for its PartyPoker.com Sports Stars Challenge IV, one of the most popular televised poker tournaments in Europe. The event will run from May 29-June 1 and will feature some of the world’s biggest sports stars, both past and present, taking their seats at the table in hopes of becoming a poker champion.
The Sports Stars Challenge IV will include some of the world’s best in motorsports, golf, boxing, rugby and darts. There will also be an online qualifier added to the field for the first time ever. The number of heats will increase from six to seven, with the winner of each of the seven heats advancing to the final table to battle it out until one of them walks away with the title. The overall winner receives £20,000 with second getting £10,000 and third receiving £5,000.
The motorsport table will feature Italian F1 driver Giancarlo Fisichella, while the golf heat will include both 2008 European Ryder Cup team member Graeme McDowell and Jean Van Der Velde. European football’s list of legends includes former Holland captain Frank De Boer, French World Cup winner Frank Leboeuf, Germany’s European Championship winner Thomas Helmer, Romania’s Florin Radiciou and Denmark and Liverpool legend Jan Molby.
Germany’s former unbeaten World Champion Sven Ottke will headline the boxing heat. He will be joined by Northern Ireland’s Commonwealth heavyweight and Prizefighter champion Martin Rogan and Poland’s female boxing champ Agnieska Rylik. The rugby heat will feature union’s former France and Wasps captain Raphael Ibanez and Australian league star Brad Drew, while the darts heat will pit legend Phil Taylor against Russia’s ladies champ Anastasia Dobromyslova.
PartyPoker.com players also had the chance to win a seat through a freeroll in the sports heat of their choice. The sports are European football (two heats), rugby (union and league combined), motorsport, boxing, darts and golf. Two online qualifiers will join each heat.
“We offered freerolls to win a seat in the event on the site”, a spokesperson for Party Poker said, “but the places were snapped up so quickly that we were loath to promote it too much to save the disappointment of players. This is a once in a lifetime experience for a select group to take to the felt with their sporting heroes. The overall lineup is the most diverse and international in the event’s history and more star participant names will be released in the near future.”
For the fourth consecutive year the event will be run by Matchroom Sport, a promotions company founded by English entrepreneur Barry Hearn. Matchroom Sport is typically involved in snooker and boxing events for the most part, but Hearn is thrilled to be involved in the Sports Stars challenge again.
“This is the poker event that the sporting world looks forward to and we have some great international names and great poker players competing for the trophy, big prize money and the ultimate bragging rights”, Hearn said. “We’re particularly excited to introduce the online element and the motorsport and golf heats this year.”
Past winners of Sports Stars Challenge are rugby union star Austin Healey, Irish snooker champion Ken Doherty, and television presenter Kara Scott, who won £20,000 last year after defeating Manchester United football legend Norman Whiteside heads-up. There is no presenter heat in the new format this year.
Coverage of the event will be aired in the UK later this year on Sky Sports and then distributed internationally. (Credit: Poker News Daily)
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Thursday, May 07, 2009
Online gaming gains Harrah's as supporter, by Arnold Knightly - Las Vegas Review-Journal - 6th May 2009
Casino giant Harrah's Entertainment has thrown its support behind legislation introduced today that would allow Internet gambling by individuals in the United States, something that could open a whole new market for the owner of the World Series of Poker brand.
The proposed Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009, which was introduced today by Rep. Barney Frank, D-Mass., would establish a framework to permit licensed gambling operators to accept wagers from inside the United States.
The legislation provides safeguards against compulsive and underage gambling, money laundering, fraud and identity theft.
"We really believe this industry already exists," said Jan Jones, Harrah's Entertainment's senior vice president of communications and government relations. "It just exists in a wild west setting. If you say you care about protecting children and fraud and money laundering, then the only way you can put those protections in place is to put in a strong regulatory frame."
The casino company spent $405,087 in the first quarter and registered as a lobbyist to try to build support for the new proposal.
Harrah's Entertainment has also hired Tony Podesta, a long-time Democratic fundraiser who has lobbied for Wal-Mart and Sallie Mae, and his brother John Podesta, an adviser to President Obama.
Jones said Americans are already spending $6 billion annually gambling in an unregulated online environment.
The bill would establish regulations that would be enforced by the U.S. Treasury Department. The federal department would also issue licenses to Internet gambling operators.
Frank's bill was co-sponsored by Rep. Shelley Berkley, D.-Nev., whose district includes Clark County.
It would repeal the Unlawful Internet Gambling Enforcement Act of 2006, which made it a crime for banks or other institutions to process financial transactions used to place illegal bets online.
The Bush administration implemented regulations, which are set to go into effect on Dec. 1, to enforce the banking ban.
Separate legislation introduced by Frank today would delay those regulations from taking effect.
"What we have now is an unworkable law passed by those opposed to all gaming, whether it's done by adults in Las Vegas or on the Internet," Berkley said in a statement. "So there is no question we must act to correct the problems caused by this failed crusade to ban Internet gaming."
Similar legislation failed in the last Congress. MGM Mirage today expressed support for the idea of legalizing, regulating and taxing Internet gambling, but cautioned that company executives have not read Frank's new bill to know if it is the right bill to support.
Alan Feldman, MGM Mirage's senior vice president of public affairs, called the 2006 law bad legislation, which was passed without any hearings.
"The original ban was absolutely ridiculous, just absurd," Feldman said.
Youbet.com and the Poker Players Alliance, which is headed by former Sen. Alfonse D'Amato, are also lobbying for the legalization of online gambling.
Not every supporter of online gaming expressed blanket support for the new bill.
David G. Schwartz, director of the University of Nevada, Las Vegas' Gaming Research Center, expressed concern about having the federal government oversee the industry. He said the new proposal would basically set up what he described as a federal Gaming Control Board.
"It would have the federal government regulating gambling, which goes against 220 years of how we've interpreted the Constitution, which is that states have the right to regulate gaming," Schwartz said. "This seems to hoist an overly complicated bureaucracy on the gaming industry."
Jones said Harrah's supports a federal oversight role because regulating online gambling at the state level would be nearly impossible.
"The whole nature of Internet gaming is that people can be on all over the world," Jones said. "It makes much more sense to have a federal regulatory oversight, with an opt out by the states, which this bill provides."
Contact reporter Arnold M. Knightly at aknightly@reviewjournal.com or 702-477-3893. Bloomberg News Service contributed to this report. (Credit: Las Vegas Review-Journal)
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Casino giant Harrah's Entertainment has thrown its support behind legislation introduced today that would allow Internet gambling by individuals in the United States, something that could open a whole new market for the owner of the World Series of Poker brand.
The proposed Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009, which was introduced today by Rep. Barney Frank, D-Mass., would establish a framework to permit licensed gambling operators to accept wagers from inside the United States.
The legislation provides safeguards against compulsive and underage gambling, money laundering, fraud and identity theft.
"We really believe this industry already exists," said Jan Jones, Harrah's Entertainment's senior vice president of communications and government relations. "It just exists in a wild west setting. If you say you care about protecting children and fraud and money laundering, then the only way you can put those protections in place is to put in a strong regulatory frame."
The casino company spent $405,087 in the first quarter and registered as a lobbyist to try to build support for the new proposal.
Harrah's Entertainment has also hired Tony Podesta, a long-time Democratic fundraiser who has lobbied for Wal-Mart and Sallie Mae, and his brother John Podesta, an adviser to President Obama.
Jones said Americans are already spending $6 billion annually gambling in an unregulated online environment.
The bill would establish regulations that would be enforced by the U.S. Treasury Department. The federal department would also issue licenses to Internet gambling operators.
Frank's bill was co-sponsored by Rep. Shelley Berkley, D.-Nev., whose district includes Clark County.
It would repeal the Unlawful Internet Gambling Enforcement Act of 2006, which made it a crime for banks or other institutions to process financial transactions used to place illegal bets online.
The Bush administration implemented regulations, which are set to go into effect on Dec. 1, to enforce the banking ban.
Separate legislation introduced by Frank today would delay those regulations from taking effect.
"What we have now is an unworkable law passed by those opposed to all gaming, whether it's done by adults in Las Vegas or on the Internet," Berkley said in a statement. "So there is no question we must act to correct the problems caused by this failed crusade to ban Internet gaming."
Similar legislation failed in the last Congress. MGM Mirage today expressed support for the idea of legalizing, regulating and taxing Internet gambling, but cautioned that company executives have not read Frank's new bill to know if it is the right bill to support.
Alan Feldman, MGM Mirage's senior vice president of public affairs, called the 2006 law bad legislation, which was passed without any hearings.
"The original ban was absolutely ridiculous, just absurd," Feldman said.
Youbet.com and the Poker Players Alliance, which is headed by former Sen. Alfonse D'Amato, are also lobbying for the legalization of online gambling.
Not every supporter of online gaming expressed blanket support for the new bill.
David G. Schwartz, director of the University of Nevada, Las Vegas' Gaming Research Center, expressed concern about having the federal government oversee the industry. He said the new proposal would basically set up what he described as a federal Gaming Control Board.
"It would have the federal government regulating gambling, which goes against 220 years of how we've interpreted the Constitution, which is that states have the right to regulate gaming," Schwartz said. "This seems to hoist an overly complicated bureaucracy on the gaming industry."
Jones said Harrah's supports a federal oversight role because regulating online gambling at the state level would be nearly impossible.
"The whole nature of Internet gaming is that people can be on all over the world," Jones said. "It makes much more sense to have a federal regulatory oversight, with an opt out by the states, which this bill provides."
Contact reporter Arnold M. Knightly at aknightly@reviewjournal.com or 702-477-3893. Bloomberg News Service contributed to this report. (Credit: Las Vegas Review-Journal)
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Barney Frank Introduces Comprehensive Internet Gambling Legislation, by Dan Cypra - Poker News Daily - 6th May 2009
On Wednesday morning, Congressman Barney Frank (D-MA) unveiled the Internet Gambling Regulation Consumer Protection and Enforcement Act, which establishes a comprehensive licensing and regulatory framework for the industry in the United States. Legislation to delay the regulations of the Unlawful Internet Gambling Enforcement Act (UIGEA) by one year was also introduced.
Although the bill has not yet been formally assigned a number, Frank’s licensing measure focuses squarely on protecting consumers when they gamble online. The bill states, “Internet gambling in the United States should be controlled by a strict Federal licensing and regulatory framework to protect underage and otherwise vulnerable individuals, to ensure the games are fair, to address the concerns of law enforcement, and to enforce any limitations on the activity established by the States and Indian tribes.” Operators must be in good legal and financial standing, utilize proper safeguards to thwart underage and problem gambling, and have systems in place to prevent money laundering. These concerns have been brought up repeatedly in markup hearings of past internet gambling bills introduced by Frank.
The Secretary of the United States Treasury is charged with overseeing the industry and licensing the companies that would be allowed to accept U.S. customers. Applicants may be asked to provide criminal records, credit histories, comprehensive financial statements, an outline of the corporation’s structure, and their methodologies to combat underage, compulsive, and problem gambling. Licensees must also protect against “fraud, money laundering, and terrorist finance.” Licenses last for five years each and may be renewed at the end of that time period. The bill also calls for the establishment of a “program to alert the public to the existence, consequences, and availability of the self-exclusion list, and shall prepare and promulgate written materials to be used in such a program.”
Sports betting or any wager that would be considered a violation of the Professional and Amateur Sports Protection Act (PASPA) is not allowed under Frank’s legislation. However, fantasy sports and other “simulation games” are exempted. The bill does not overturn the UIGEA, which was passed in 2006. Instead, it exempts licensees from the three year-old law.
The bill appears to require a companion measure to provide for taxation of the industry. During the last Congress, that piece of the puzzle came in the form of HR 2607, which prescribed that 2% of the funds deposited online be taxed. PricewaterhouseCoopers released a study utilizing a similar bill along with Frank’s HR 2046, the Internet Gambling Regulation and Enforcement Act, to reveal that up to $52 billion could be raised over a 10 year period by taxing and regulating the industry. However, that figure relied heavily on the involvement of professional sports leagues.
A separate bill introduced by Frank on Wednesday, dubbed the Reasonable Prudence in Regulation Act, called for the regulations of the UIGEA to be enacted on December 1st, 2010, one year after the scheduled date. The House Financial Services Committee website explains, “The legislation will stop Federal regulators from enforcing the UIGEA until Congress has had a chance to decide national policy.” In essence, lawmakers on Capitol Hill will have an extra year under Frank’s second bill in order to pass legislation concerning internet gambling. The regulations of the UIGEA were approved in November as midnight rules and implemented on January 19th, one day prior to U.S. President Barack Obama taking office. As it currently stands, the financial services industry must come into full compliance by December 1st, 2009.
Poker Players Alliance (PPA) Chairman and former three-term Senator from New York Alfonse D’Amato commented in a press release, “Online poker is a legal, thriving industry and poker players deserve the consumer protections and the freedom to play that are provided for in this legislation. We are grateful for Chairman Frank’s leadership and will be activating our grassroots army made up of over one million members to help him drive legislation.” In an article published by the Associated Press last month, it was revealed that the PPA is planning to sink $3 million into lobbying efforts during the current Congressional session. (Credit: Poker News Daily)
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On Wednesday morning, Congressman Barney Frank (D-MA) unveiled the Internet Gambling Regulation Consumer Protection and Enforcement Act, which establishes a comprehensive licensing and regulatory framework for the industry in the United States. Legislation to delay the regulations of the Unlawful Internet Gambling Enforcement Act (UIGEA) by one year was also introduced.
Although the bill has not yet been formally assigned a number, Frank’s licensing measure focuses squarely on protecting consumers when they gamble online. The bill states, “Internet gambling in the United States should be controlled by a strict Federal licensing and regulatory framework to protect underage and otherwise vulnerable individuals, to ensure the games are fair, to address the concerns of law enforcement, and to enforce any limitations on the activity established by the States and Indian tribes.” Operators must be in good legal and financial standing, utilize proper safeguards to thwart underage and problem gambling, and have systems in place to prevent money laundering. These concerns have been brought up repeatedly in markup hearings of past internet gambling bills introduced by Frank.
The Secretary of the United States Treasury is charged with overseeing the industry and licensing the companies that would be allowed to accept U.S. customers. Applicants may be asked to provide criminal records, credit histories, comprehensive financial statements, an outline of the corporation’s structure, and their methodologies to combat underage, compulsive, and problem gambling. Licensees must also protect against “fraud, money laundering, and terrorist finance.” Licenses last for five years each and may be renewed at the end of that time period. The bill also calls for the establishment of a “program to alert the public to the existence, consequences, and availability of the self-exclusion list, and shall prepare and promulgate written materials to be used in such a program.”
Sports betting or any wager that would be considered a violation of the Professional and Amateur Sports Protection Act (PASPA) is not allowed under Frank’s legislation. However, fantasy sports and other “simulation games” are exempted. The bill does not overturn the UIGEA, which was passed in 2006. Instead, it exempts licensees from the three year-old law.
The bill appears to require a companion measure to provide for taxation of the industry. During the last Congress, that piece of the puzzle came in the form of HR 2607, which prescribed that 2% of the funds deposited online be taxed. PricewaterhouseCoopers released a study utilizing a similar bill along with Frank’s HR 2046, the Internet Gambling Regulation and Enforcement Act, to reveal that up to $52 billion could be raised over a 10 year period by taxing and regulating the industry. However, that figure relied heavily on the involvement of professional sports leagues.
A separate bill introduced by Frank on Wednesday, dubbed the Reasonable Prudence in Regulation Act, called for the regulations of the UIGEA to be enacted on December 1st, 2010, one year after the scheduled date. The House Financial Services Committee website explains, “The legislation will stop Federal regulators from enforcing the UIGEA until Congress has had a chance to decide national policy.” In essence, lawmakers on Capitol Hill will have an extra year under Frank’s second bill in order to pass legislation concerning internet gambling. The regulations of the UIGEA were approved in November as midnight rules and implemented on January 19th, one day prior to U.S. President Barack Obama taking office. As it currently stands, the financial services industry must come into full compliance by December 1st, 2009.
Poker Players Alliance (PPA) Chairman and former three-term Senator from New York Alfonse D’Amato commented in a press release, “Online poker is a legal, thriving industry and poker players deserve the consumer protections and the freedom to play that are provided for in this legislation. We are grateful for Chairman Frank’s leadership and will be activating our grassroots army made up of over one million members to help him drive legislation.” In an article published by the Associated Press last month, it was revealed that the PPA is planning to sink $3 million into lobbying efforts during the current Congressional session. (Credit: Poker News Daily)
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Wednesday, May 06, 2009
Russian tycoon loses yacht in poker - 6th May 2009
Russian billionaire Roman Abramovich has lost one of the yachts in his sizeable personal fleet in a game of poker, a Russian newspaper reported.
The popular daily Moskovsky Komsomelets said the oligarch lost the $US500,000 ($A674,627) yacht while playing poker in Barcelona, which he was visiting to watch the London football team he owns, Chelsea, in action.
Abramovich's yacht collection, thought to be worth hundreds of millions of dollars, has been dubbed The Roman Navy by Britain's press.
The Russian newspaper said his poker habit had become a sore point between him and girlfriend Daria Zhukova and that the billionaire, who made his fortune in Russia's sell-off of state assets in the 1990s, had instead turned to gambling online.
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Russian billionaire Roman Abramovich has lost one of the yachts in his sizeable personal fleet in a game of poker, a Russian newspaper reported.
The popular daily Moskovsky Komsomelets said the oligarch lost the $US500,000 ($A674,627) yacht while playing poker in Barcelona, which he was visiting to watch the London football team he owns, Chelsea, in action.
Abramovich's yacht collection, thought to be worth hundreds of millions of dollars, has been dubbed The Roman Navy by Britain's press.
The Russian newspaper said his poker habit had become a sore point between him and girlfriend Daria Zhukova and that the billionaire, who made his fortune in Russia's sell-off of state assets in the 1990s, had instead turned to gambling online.
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Online poker: Five card clicks, by Rob Sharp - The Independent - 6th May 2009
Virtual casinos bring the game right to your laptop. As The Independent launches its own poker league, Rob Sharp discovers why online gambling is becoming an even bigger deal
In a dusty room that has never seen the light of day, a concerned-looking man sits nervously behind a computer screen. He takes a moment to assess another man, who sits at a terminal nearby. They are locked into an anxious battle of wills. The first man looks his opponent slowly up and down, before quietly clicking on the computer mouse beside him.The two men are showcasing Virgin Poker, Virgin’s online poker gaming website, at Aspers, a casino in central Newcastle.
There are few things that would tempt out journalists on such a drab day in the North East, but online poker is big business. One million people gamble using the controversial card game in the UK each year, part of a global industry worth over £1bn. By logging on to virgingames.com or PokerStars.com competitors can emulate their poker-playing heroes from the comfort of their bedrooms. An increase in the tax on poker profits from 15 to 50 per cent, announced in last month’s Budget, will clip the wings of traditional poker operators. But many online poker companies, including Virgin Poker, are based offshore and are thus exempt.
While encouraging people to gamble responsibly, today The Independent, in a joint venture with Virgin Poker, launches its own poker league via independent.co.uk. “Nowadays there are over half a million regular online poker players logging on and playing,” says Joe Legge, poker product manager at Virgin Games. “For some, it’s their profession but for most it’s a form of entertainment that is mentally stimulating and doesn’t have to involve risking a lot of money. The Independent’s poker league is a great extension of our commitment to the social side of poker playing. ”Steph Boyd, from Darvel near Glasgow, known simply by the gaming moniker of “mole man”, is one of the people who relies on poker playing online for his entire income, not just for entertainment.
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In 2006, his first year of professional play, he claims to have made £1.5m. “It’s a great lifestyle, it’s a great job,” he says, sat at a traditional poker table close to the online gamers in Newcastle. “To be honest, there are not a lot of other jobs I could do. Before I turned professional I worked as a fitness instructor, but then I made a serious amount of money in a very short space of time.” Three years ago, he created a bank account and deposited into it £1,000 to fund his poker. Soon he was able to regularly withdraw a monthly salary of £200. Before long he gave up his job to turn to poker full-time. Needless to say, for every poker tale of rags to riches there is another ending in ruin.
Former mayor Jayne Yeomans was jailed last month for stealing almost £65,000 to fund her online poker addiction. In an effort to cover her tracks, the 49-year-old forged her husband’s signature and remortgaged their house to raise £25,000 to pay some of it back. Kara Scott, who hosts the television coverage online of the PokerStars European Poker tour, plays at least three hours of online poker a day. She thinks cases such as Yeomans’ are not representative and give a misleading impression of the world of online poker players. “I think there are people out there with really addictive personalities who get addicted to anything,” she says. “Some people are always going to take it too far.
Thankfully, there are organisations out there [such as GamCare.org.uk] you can get in touch with. And with most online poker sites you can select the option to deny yourself. You effectively tell the site about your problem and they will block you for six months or a year so that you can’t get back on.” As a condition of handing out poker licenses, the British government’s Gambling Commission insists poker companies encourage socially responsible gambling. Operators must verify people’s ages before allowing them to play (in the UK players must be 18 or over) and provide as much information about socially responsible gambling on their websites as possible.
Players are encouraged to contact a charity such as GamCare if they feel they have an unhealthy interest in online gambling (or are using it to escape from their problems, become restless when they are not playing, or continually try to stop but can’t). Virgin Games is licenced and regulated by the Alderney Gambling Control Commission, the Channel Islands’ own regulatory body for poker. Boyd is confident that for him, gambling is only a positive thing, and that he has found a way of making his online habit work for him. “My priorities are my wife and three kids. I have luckily been able to buy a new house and that is a great thing to have at my stage in life. My online poker playing is a wee bit of fun.
So far, it has been very good to me. It just seems to be common sense for me to keep going. My wife went to university three years ago and hopes to start a new job in finance. All in all, she has been very supportive.” Playing at home also has advantages for Scott. “I can see how coming to somewhere like Newcastle to compete in a traditional poker tournament with lots of burly men might be intimidating to some women,” she says. “That fear is definitely circumnavigated by playing online. And you do get a few men who do some really inappropriate things. Yesterday there was a drunk man among the crowd of people asking for my autograph. He asked me to autograph his penis. I said no. What I should have said is, ‘Do you want me to initial it?’”
Poker people: Winners and losers
* Chris Moneymaker, an American accountant, won a seat at the 2003 World Series of Poker after playing a satellite tournament in the PokerStars online poker room. It cost him $39 to enter the first game; he ended up netting the $2.5m first prize at the global tournament. “It's a contentious issue whether poker is actually gambling,” he says.
* Zachary Gruneberg, a 19-year-old player from Pennsylvania, dropped out of university last month to pursue a career as a professional poker player. In January he won $250,000 at Australia’s 2009 Aussie Millions Poker Championship. He’s too young to gamble legally in the US, so instead, he spends his time playing online. “There'd be days where I'd play 10-plus hours of poker online at school,” he says. “While you're playing, you can do so much other stuff. You can watch a TV show, talk to your friends, be on Facebook. It's all about multi-tasking.”
* Roy ‘the Boy’ Brindley, born in Dorking, Surrey, left a career training greyhounds to win £1m in online poker over an eight-year period. In his autobiography, ‘Life’s a Gamble’, he admits that gambling addiction has rendered him homeless at points in his life. Nevertheless: “To me, it’s massively satisfying. I was never good at sports and was 30 when I discovered a game that I could win at,” he says.
* Christopher Proudfoot, a finance controller, siphoned £1m of his employer’s money into his bank account between December 2004 and January 2008 to fund his habit. The 28-year-old fraudster, who now lives with his parents in Inverness, pleaded guilty in February to embezzling the cash. “The problem with some of these sites is when you win big they have their own way of getting it back,” he says. “When you’ve won a fair amount of money you can’t easily get it back. They don’t let you withdraw without letting everyone you are playing with no, so you carry on competing.” (Credit: The Independent)
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Virtual casinos bring the game right to your laptop. As The Independent launches its own poker league, Rob Sharp discovers why online gambling is becoming an even bigger deal
In a dusty room that has never seen the light of day, a concerned-looking man sits nervously behind a computer screen. He takes a moment to assess another man, who sits at a terminal nearby. They are locked into an anxious battle of wills. The first man looks his opponent slowly up and down, before quietly clicking on the computer mouse beside him.The two men are showcasing Virgin Poker, Virgin’s online poker gaming website, at Aspers, a casino in central Newcastle.
There are few things that would tempt out journalists on such a drab day in the North East, but online poker is big business. One million people gamble using the controversial card game in the UK each year, part of a global industry worth over £1bn. By logging on to virgingames.com or PokerStars.com competitors can emulate their poker-playing heroes from the comfort of their bedrooms. An increase in the tax on poker profits from 15 to 50 per cent, announced in last month’s Budget, will clip the wings of traditional poker operators. But many online poker companies, including Virgin Poker, are based offshore and are thus exempt.
While encouraging people to gamble responsibly, today The Independent, in a joint venture with Virgin Poker, launches its own poker league via independent.co.uk. “Nowadays there are over half a million regular online poker players logging on and playing,” says Joe Legge, poker product manager at Virgin Games. “For some, it’s their profession but for most it’s a form of entertainment that is mentally stimulating and doesn’t have to involve risking a lot of money. The Independent’s poker league is a great extension of our commitment to the social side of poker playing. ”Steph Boyd, from Darvel near Glasgow, known simply by the gaming moniker of “mole man”, is one of the people who relies on poker playing online for his entire income, not just for entertainment.
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In 2006, his first year of professional play, he claims to have made £1.5m. “It’s a great lifestyle, it’s a great job,” he says, sat at a traditional poker table close to the online gamers in Newcastle. “To be honest, there are not a lot of other jobs I could do. Before I turned professional I worked as a fitness instructor, but then I made a serious amount of money in a very short space of time.” Three years ago, he created a bank account and deposited into it £1,000 to fund his poker. Soon he was able to regularly withdraw a monthly salary of £200. Before long he gave up his job to turn to poker full-time. Needless to say, for every poker tale of rags to riches there is another ending in ruin.
Former mayor Jayne Yeomans was jailed last month for stealing almost £65,000 to fund her online poker addiction. In an effort to cover her tracks, the 49-year-old forged her husband’s signature and remortgaged their house to raise £25,000 to pay some of it back. Kara Scott, who hosts the television coverage online of the PokerStars European Poker tour, plays at least three hours of online poker a day. She thinks cases such as Yeomans’ are not representative and give a misleading impression of the world of online poker players. “I think there are people out there with really addictive personalities who get addicted to anything,” she says. “Some people are always going to take it too far.
Thankfully, there are organisations out there [such as GamCare.org.uk] you can get in touch with. And with most online poker sites you can select the option to deny yourself. You effectively tell the site about your problem and they will block you for six months or a year so that you can’t get back on.” As a condition of handing out poker licenses, the British government’s Gambling Commission insists poker companies encourage socially responsible gambling. Operators must verify people’s ages before allowing them to play (in the UK players must be 18 or over) and provide as much information about socially responsible gambling on their websites as possible.
Players are encouraged to contact a charity such as GamCare if they feel they have an unhealthy interest in online gambling (or are using it to escape from their problems, become restless when they are not playing, or continually try to stop but can’t). Virgin Games is licenced and regulated by the Alderney Gambling Control Commission, the Channel Islands’ own regulatory body for poker. Boyd is confident that for him, gambling is only a positive thing, and that he has found a way of making his online habit work for him. “My priorities are my wife and three kids. I have luckily been able to buy a new house and that is a great thing to have at my stage in life. My online poker playing is a wee bit of fun.
So far, it has been very good to me. It just seems to be common sense for me to keep going. My wife went to university three years ago and hopes to start a new job in finance. All in all, she has been very supportive.” Playing at home also has advantages for Scott. “I can see how coming to somewhere like Newcastle to compete in a traditional poker tournament with lots of burly men might be intimidating to some women,” she says. “That fear is definitely circumnavigated by playing online. And you do get a few men who do some really inappropriate things. Yesterday there was a drunk man among the crowd of people asking for my autograph. He asked me to autograph his penis. I said no. What I should have said is, ‘Do you want me to initial it?’”
Poker people: Winners and losers
* Chris Moneymaker, an American accountant, won a seat at the 2003 World Series of Poker after playing a satellite tournament in the PokerStars online poker room. It cost him $39 to enter the first game; he ended up netting the $2.5m first prize at the global tournament. “It's a contentious issue whether poker is actually gambling,” he says.
* Zachary Gruneberg, a 19-year-old player from Pennsylvania, dropped out of university last month to pursue a career as a professional poker player. In January he won $250,000 at Australia’s 2009 Aussie Millions Poker Championship. He’s too young to gamble legally in the US, so instead, he spends his time playing online. “There'd be days where I'd play 10-plus hours of poker online at school,” he says. “While you're playing, you can do so much other stuff. You can watch a TV show, talk to your friends, be on Facebook. It's all about multi-tasking.”
* Roy ‘the Boy’ Brindley, born in Dorking, Surrey, left a career training greyhounds to win £1m in online poker over an eight-year period. In his autobiography, ‘Life’s a Gamble’, he admits that gambling addiction has rendered him homeless at points in his life. Nevertheless: “To me, it’s massively satisfying. I was never good at sports and was 30 when I discovered a game that I could win at,” he says.
* Christopher Proudfoot, a finance controller, siphoned £1m of his employer’s money into his bank account between December 2004 and January 2008 to fund his habit. The 28-year-old fraudster, who now lives with his parents in Inverness, pleaded guilty in February to embezzling the cash. “The problem with some of these sites is when you win big they have their own way of getting it back,” he says. “When you’ve won a fair amount of money you can’t easily get it back. They don’t let you withdraw without letting everyone you are playing with no, so you carry on competing.” (Credit: The Independent)
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State plays its hand in targeting online gambling websites, by Paul Walsh - Star Tribune - 1st May 2009
Users may be finding ways around Minnesota's attempt to cut off access to the 200 Internet game sites.
The state of Minnesota on Friday released the names of 200 online gambling websites it is trying to prevent Minnesotans from using, warning that Internet wagering is illegal.
The specific sites being targeted will be of interest to Minnesotans who use them and are concerned that any balances they have with those operations could be lost if the state succeeds in blocking access.
Fulltime online poker player and instructor Chris Wallace of St. Paul scoffed at the list built by the state, however.
"I'm certain they didn't do a whole lot of research," Wallace said. "The largest poker site in the world [Poker Stars] is not listed."
Wallace also said he's confident that he won't lose any money because of the state's block. "I do have money in many of these sites," he said. "The worst is that I will drive over to Wisconsin and request a cashout."
He said he has already shifted his computer to a server in the Cayman Islands and was back on his favorite site within 20 minutes at no expense, thereby getting around any block that Minnesota wants put in place.
On Wednesday, a division of the state Department of Public Safety that enforces gambling and alcohol laws said it has instructed 11 national and regional telephone and Internet service providers (ISPs) to block access by all Minnesota-based computers to the websites on the list.
Minnesota says all online gambling within its borders is illegal, even if the games are hosted outside the United States.
Operators of these types of sites are spread around the world, most commonly in the United Kingdom and the Caribbean, as some of their names suggest: Casino Euro, English Harbour and Virgin Games, among others.
Written notices from the division were served Monday to AT&T Internet Services, Charter Communications, Comcast Cable, DirecTV, Dish Network, Embarq and Sprint/Nextel, Frontier Communications, Qwest, Verizon Wireless and Wildblue Communications. (Credit: Star Tribune)
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Users may be finding ways around Minnesota's attempt to cut off access to the 200 Internet game sites.
The state of Minnesota on Friday released the names of 200 online gambling websites it is trying to prevent Minnesotans from using, warning that Internet wagering is illegal.
The specific sites being targeted will be of interest to Minnesotans who use them and are concerned that any balances they have with those operations could be lost if the state succeeds in blocking access.
Fulltime online poker player and instructor Chris Wallace of St. Paul scoffed at the list built by the state, however.
"I'm certain they didn't do a whole lot of research," Wallace said. "The largest poker site in the world [Poker Stars] is not listed."
Wallace also said he's confident that he won't lose any money because of the state's block. "I do have money in many of these sites," he said. "The worst is that I will drive over to Wisconsin and request a cashout."
He said he has already shifted his computer to a server in the Cayman Islands and was back on his favorite site within 20 minutes at no expense, thereby getting around any block that Minnesota wants put in place.
On Wednesday, a division of the state Department of Public Safety that enforces gambling and alcohol laws said it has instructed 11 national and regional telephone and Internet service providers (ISPs) to block access by all Minnesota-based computers to the websites on the list.
Minnesota says all online gambling within its borders is illegal, even if the games are hosted outside the United States.
Operators of these types of sites are spread around the world, most commonly in the United Kingdom and the Caribbean, as some of their names suggest: Casino Euro, English Harbour and Virgin Games, among others.
Written notices from the division were served Monday to AT&T Internet Services, Charter Communications, Comcast Cable, DirecTV, Dish Network, Embarq and Sprint/Nextel, Frontier Communications, Qwest, Verizon Wireless and Wildblue Communications. (Credit: Star Tribune)
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Tuesday, May 05, 2009
Crown decked by cards shuffle, by Jason Dowling - The Age - 5th May 2009
At least one croupier at Crown Casino is not a big Kenny Rogers fan; or if he is, he doesn't listen. He missed the bit about "know when to fold 'em".
Crown has been fined $7500 after a dealer continued to deal a game of poker knowing the deck was incomplete.
The Victorian Commission for Gambling Regulation found "play continued despite the constant display of the red light on the automatic shuffle machine" and after the dealer counted the cards twice and found 51 cards. The commission said "it took the attendance of three supervisors before the game was stopped".
Details of the over-zealous dealer have only been released recently by the commission — the incident occurred in January last year.
It is not the first time Crown has been fined for conducting games with less than 52 cards in the deck. Since 2007 it has been detected using less than 52 cards on at least six occasions. (Credit: The Age)
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At least one croupier at Crown Casino is not a big Kenny Rogers fan; or if he is, he doesn't listen. He missed the bit about "know when to fold 'em".
Crown has been fined $7500 after a dealer continued to deal a game of poker knowing the deck was incomplete.
The Victorian Commission for Gambling Regulation found "play continued despite the constant display of the red light on the automatic shuffle machine" and after the dealer counted the cards twice and found 51 cards. The commission said "it took the attendance of three supervisors before the game was stopped".
Details of the over-zealous dealer have only been released recently by the commission — the incident occurred in January last year.
It is not the first time Crown has been fined for conducting games with less than 52 cards in the deck. Since 2007 it has been detected using less than 52 cards on at least six occasions. (Credit: The Age)
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Wrestlers and Arnold Schwarzenegger Gambling, Poker Connection - Gambling911 - 4th May 2009
Ric Flair recently signed a deal to be a spokesperson for the lottery in the Carolinas... The Shelby, NC Star ran a story noting that Ric, David, and Reid Flair are scheduled to appear on Saturday at the Rec Center for a charity show to raise for the Shelby City Parks and Police Department. If he attends this would be Reid's first public appearance since his arrest last weekend.
"This is of course totally the opposite direction to Jesse Ventura's stance on gambling, at least publicly," notes Media Man, Greg Tingle.
Tingle made reference to Ventura's support of an online gambling enterprise, BetUS.com, where he was a paid spokesperson for more than two years. Interestingly enough, the state of Minnesota for which Ventura served as Governor, announced last week it will try to block access to online gambling websites from citizens of that state.
Then there is California Governor, Arnold Schwarzenegger, a one time friend of both men, who reportedly would support an initiative in his state to legalize online poker.
In November 2004, an advertisement began airing in California featuring Ventura. In it, Ventura voices his opposition to Governor Arnold Schwarzenegger's policies regarding Native American casinos, the very casinos that stand in the way of the proposed poker legislation. Schwarzenegger and Ventura have not spoken in years, according to reports.
In September 2005, Ventura announced on The Mike Malloy Show that he was leaving the U.S. and planned to "have an adventure". In late October 2005, he went on the The Big Idea with Donny Deutsch and reiterated that he was leaving the U.S. due to, among other things, censorship. He has since moved to Baja California, Mexico. (Credit: Gambling911).
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Ric Flair recently signed a deal to be a spokesperson for the lottery in the Carolinas... The Shelby, NC Star ran a story noting that Ric, David, and Reid Flair are scheduled to appear on Saturday at the Rec Center for a charity show to raise for the Shelby City Parks and Police Department. If he attends this would be Reid's first public appearance since his arrest last weekend.
"This is of course totally the opposite direction to Jesse Ventura's stance on gambling, at least publicly," notes Media Man, Greg Tingle.
Tingle made reference to Ventura's support of an online gambling enterprise, BetUS.com, where he was a paid spokesperson for more than two years. Interestingly enough, the state of Minnesota for which Ventura served as Governor, announced last week it will try to block access to online gambling websites from citizens of that state.
Then there is California Governor, Arnold Schwarzenegger, a one time friend of both men, who reportedly would support an initiative in his state to legalize online poker.
In November 2004, an advertisement began airing in California featuring Ventura. In it, Ventura voices his opposition to Governor Arnold Schwarzenegger's policies regarding Native American casinos, the very casinos that stand in the way of the proposed poker legislation. Schwarzenegger and Ventura have not spoken in years, according to reports.
In September 2005, Ventura announced on The Mike Malloy Show that he was leaving the U.S. and planned to "have an adventure". In late October 2005, he went on the The Big Idea with Donny Deutsch and reiterated that he was leaving the U.S. due to, among other things, censorship. He has since moved to Baja California, Mexico. (Credit: Gambling911).
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Monday, May 04, 2009
Poker in the Park III Announced for August 13th & 14th
Europe's largest poker festival returns to London's Leicester Square this summer
April 8, 2009 (London, UK) -- Europe's largest free poker festival, Poker in the Park, will return to the middle of Leicester Square Park this summer. The third incarnation of consumer poker fair will take place on Thursday & Friday, August 13th and 14th.
This year promises to be even bigger and better than last year, with plenty of free live poker tournaments on offer, as well as live lectures and autograph signings from big name pros, plus all manner of discounted poker merchandise on sale.
Last year 10,000 people swarmed into the marquees in Leicester Square to play poker for free and listen to talks from the pros, including Devilfish, Neil Channing, Ian Frazer, Marc Goodwin, Paul Jackson and Nik Persaud. This year promises more big name players and exhibitions from some of the most exciting brands in the poker industry.
Bluff Europe's Editor-in-Chief Michael Caselli said, "Poker in the Park is about bringing poker enthusiasts from all over the UK together to meet their poker heroes, improve their play and play poker absolutely free with other lovers of the game from all around the nation."
###
Companies interested in sponsoring the event should contact:
Ed Whittington
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Ed.whittngton@lyceumpublishing.com
+44 (0) 207 828 6988
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Europe's largest poker festival returns to London's Leicester Square this summer
April 8, 2009 (London, UK) -- Europe's largest free poker festival, Poker in the Park, will return to the middle of Leicester Square Park this summer. The third incarnation of consumer poker fair will take place on Thursday & Friday, August 13th and 14th.
This year promises to be even bigger and better than last year, with plenty of free live poker tournaments on offer, as well as live lectures and autograph signings from big name pros, plus all manner of discounted poker merchandise on sale.
Last year 10,000 people swarmed into the marquees in Leicester Square to play poker for free and listen to talks from the pros, including Devilfish, Neil Channing, Ian Frazer, Marc Goodwin, Paul Jackson and Nik Persaud. This year promises more big name players and exhibitions from some of the most exciting brands in the poker industry.
Bluff Europe's Editor-in-Chief Michael Caselli said, "Poker in the Park is about bringing poker enthusiasts from all over the UK together to meet their poker heroes, improve their play and play poker absolutely free with other lovers of the game from all around the nation."
###
Companies interested in sponsoring the event should contact:
Ed Whittington
Lyceum Publishing
Ed.whittngton@lyceumpublishing.com
+44 (0) 207 828 6988
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Paren Arzoomanian Wins ANZPT Sydney, by Tom Jenkins - Poker News Daily - 3rd May 2009
The first ever Australia New Zealand Poker Tour (ANZPT), sponsored by PokerStars, just wrapped up its AUD $2,200 buy-in Main Event from the Star City Casino in Sydney. A 25 year-old local student, Paren “Puzz” Arzoomanian, won the high-stakes tournament.
A field of 493 players turned out for the inaugural ANZPT Sydney festivities, seven short of its official maximum capacity. As a result, Arzoomanian banked AUD $246,000 for his efforts. The cancer survivor battled against Gold Coast mortgage broker Lisa Walsh heads-up, with the latter earning the largest payday ever by a woman in an Australian poker tournament. On the final hand, she shoved low on chips with K-9 and was called by Arzoomanian, who flipped over A-5. The flop came J-8-8, leaving Walsh needing a king, nine, or running cards to make a straight. A five on the turn preserved Arzoomanian’s lead in the hand and an ace on the river sealed the victory for the youngster with aces up.
Here were the top nine finishers in Sydney along with their payouts. All figures given are in Australian Dollars:
1st Place: Paren Arzoomanian - $246,500
2nd Place: Lisa Walsh - $162,690
3rd Place: John Caridid - $93,670
4th Place: Chris Kittos - $69,020
5th Place: Majed Haddad - $55,709
6th Place: Vasilios Argyros - $44,370
7th Place: Joel Dodds - $34,510
8th Place: James Newhan - $24,650
9th Place: Xin Zhao - $16,762
Kittos fell by the wayside in fourth place after coming out on the losing end of a race holding A-K against Walsh’s pocket threes. The flop came 2-4-5, adding a straight draw for Walsh and counterfeiting three of Kittos’ outs. The turn came another five and the river was a jack, sending Kittos home AUD $69,020 richer for his wear. Caridid was also sent packing by Walsh, who held A-K against Caridid’s A-8. The board fell 10-2-3-7-J, sending the final PokerStars qualifier standing out of the tournament in third place. Arzoomanian held a 5.6 million to 4.1 million chip lead entering heads-up play.
Two members of Team PokerStars Australia also finished in the money. Tony Hachem grabbed 17th place for AUD $8,874, while Eric Assadourian took 28th place and saw his bank account grow by AUD $4,930. Hachem now sits atop the overall ANZPT Season 1 leader board with 84.8 points, besting fellow Aussie Karl Krautsschneider by 4.8. At the end of Season 1 of the ANZPT, the overall leader board champion takes home prize packages to every Main Event on the PokerStars-sponsored Asia Pacific Poker Tour (APPT) during Season 4 as well as the 2010 Aussie Millions Main Event. The player will officially be sponsored by PokerStars, which will front airfare, tournament buy-ins, and hotel accommodations as part of the AUD $60,000 prize package. The runner up takes home sponsorship for every event on the second season of the ANZPT (valued at AUD $25,000), while the third place finisher will grab AUD $10,500 in buy-ins and expenses to tournaments in the region sponsored by PokerStars.
Here’s a look at the top ten of the current leader board after the Sydney event:
1. Tony Hachem- 84.8
2. Karl Krautsschneider – 80.0
3. Daniel Noja - 69.2
4. Bill Argyros – 69.0
5. Joel Dodds - 67.6
6. Paren Arzoomanian - 67.4
6. Lisa Walsh - 67.4
6. John Caridad - 67.4
9. Mike Stecker - 65.6
10. Tony Dunst – 64.0
After a three week hiatus, the ANZPT will return on May 25th in Melbourne at the Crown Casino. The AUD $2,700 buy-in Main Event plays down to a winner on May 27th and the tournament is capped at 450 entrants. From July 21st through 25th, the tournament series heads to Queenstown’s SkyCity Casino for an AUD $2,500 buy-in contest. (Credit: Poker News Daily)
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The first ever Australia New Zealand Poker Tour (ANZPT), sponsored by PokerStars, just wrapped up its AUD $2,200 buy-in Main Event from the Star City Casino in Sydney. A 25 year-old local student, Paren “Puzz” Arzoomanian, won the high-stakes tournament.
A field of 493 players turned out for the inaugural ANZPT Sydney festivities, seven short of its official maximum capacity. As a result, Arzoomanian banked AUD $246,000 for his efforts. The cancer survivor battled against Gold Coast mortgage broker Lisa Walsh heads-up, with the latter earning the largest payday ever by a woman in an Australian poker tournament. On the final hand, she shoved low on chips with K-9 and was called by Arzoomanian, who flipped over A-5. The flop came J-8-8, leaving Walsh needing a king, nine, or running cards to make a straight. A five on the turn preserved Arzoomanian’s lead in the hand and an ace on the river sealed the victory for the youngster with aces up.
Here were the top nine finishers in Sydney along with their payouts. All figures given are in Australian Dollars:
1st Place: Paren Arzoomanian - $246,500
2nd Place: Lisa Walsh - $162,690
3rd Place: John Caridid - $93,670
4th Place: Chris Kittos - $69,020
5th Place: Majed Haddad - $55,709
6th Place: Vasilios Argyros - $44,370
7th Place: Joel Dodds - $34,510
8th Place: James Newhan - $24,650
9th Place: Xin Zhao - $16,762
Kittos fell by the wayside in fourth place after coming out on the losing end of a race holding A-K against Walsh’s pocket threes. The flop came 2-4-5, adding a straight draw for Walsh and counterfeiting three of Kittos’ outs. The turn came another five and the river was a jack, sending Kittos home AUD $69,020 richer for his wear. Caridid was also sent packing by Walsh, who held A-K against Caridid’s A-8. The board fell 10-2-3-7-J, sending the final PokerStars qualifier standing out of the tournament in third place. Arzoomanian held a 5.6 million to 4.1 million chip lead entering heads-up play.
Two members of Team PokerStars Australia also finished in the money. Tony Hachem grabbed 17th place for AUD $8,874, while Eric Assadourian took 28th place and saw his bank account grow by AUD $4,930. Hachem now sits atop the overall ANZPT Season 1 leader board with 84.8 points, besting fellow Aussie Karl Krautsschneider by 4.8. At the end of Season 1 of the ANZPT, the overall leader board champion takes home prize packages to every Main Event on the PokerStars-sponsored Asia Pacific Poker Tour (APPT) during Season 4 as well as the 2010 Aussie Millions Main Event. The player will officially be sponsored by PokerStars, which will front airfare, tournament buy-ins, and hotel accommodations as part of the AUD $60,000 prize package. The runner up takes home sponsorship for every event on the second season of the ANZPT (valued at AUD $25,000), while the third place finisher will grab AUD $10,500 in buy-ins and expenses to tournaments in the region sponsored by PokerStars.
Here’s a look at the top ten of the current leader board after the Sydney event:
1. Tony Hachem- 84.8
2. Karl Krautsschneider – 80.0
3. Daniel Noja - 69.2
4. Bill Argyros – 69.0
5. Joel Dodds - 67.6
6. Paren Arzoomanian - 67.4
6. Lisa Walsh - 67.4
6. John Caridad - 67.4
9. Mike Stecker - 65.6
10. Tony Dunst – 64.0
After a three week hiatus, the ANZPT will return on May 25th in Melbourne at the Crown Casino. The AUD $2,700 buy-in Main Event plays down to a winner on May 27th and the tournament is capped at 450 entrants. From July 21st through 25th, the tournament series heads to Queenstown’s SkyCity Casino for an AUD $2,500 buy-in contest. (Credit: Poker News Daily)
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Friday, May 01, 2009
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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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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Poker News
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.
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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.
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Friday, April 24, 2009
Freeroll For Two Grand Prix De Paris Packages For Just 200 PartyPoints!
Win Two Grand Prix De Paris Packages At PartyPoker.com
200 PartyPoints Equals Entry Into Online Freeroll For Aviation Club Spectacular
22nd April 2009 – http://www.partypoker.com is offering the chance to win two packages for the prestigious Grand Prix de Paris at the Aviation Club through a special online satellite freeroll.
The Grand Prix de Paris takes place at Paris’ legendary home of poker between the 14th – 17th May 2009 and PartyPoker.com is hosting a special online satellite for two packages on Thursday 30th April at 20.00 CEST (19.00 BST, 14.00 EST). All you have to do to qualify is collect 200 PartyPoints between the 22nd – 28th April to take your seat.
A PartyPoker.com spokesman said: “The Aviation Club is bang in the heart of Paris and has a rich history as one of Europe’s most famous poker venues. The Grand Prix de Paris has historically attracted a world class line-up and provides a unique poker experience. It is easy to have a shot at winning one of the two packages, all you have to do is earn 200 PartyPoints between 22nd – 28th April to earn entry into the online freeroll.”
Each of the two packages is worth $15,500 and covers the Main Event buy-in of €10,000, five nights’ accommodation at a luxury Paris hotel and $800 spending money. For more information see: http://www.partypoker.com/news/items/apc2009.html
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Win Two Grand Prix De Paris Packages At PartyPoker.com
200 PartyPoints Equals Entry Into Online Freeroll For Aviation Club Spectacular
22nd April 2009 – http://www.partypoker.com is offering the chance to win two packages for the prestigious Grand Prix de Paris at the Aviation Club through a special online satellite freeroll.
The Grand Prix de Paris takes place at Paris’ legendary home of poker between the 14th – 17th May 2009 and PartyPoker.com is hosting a special online satellite for two packages on Thursday 30th April at 20.00 CEST (19.00 BST, 14.00 EST). All you have to do to qualify is collect 200 PartyPoints between the 22nd – 28th April to take your seat.
A PartyPoker.com spokesman said: “The Aviation Club is bang in the heart of Paris and has a rich history as one of Europe’s most famous poker venues. The Grand Prix de Paris has historically attracted a world class line-up and provides a unique poker experience. It is easy to have a shot at winning one of the two packages, all you have to do is earn 200 PartyPoints between 22nd – 28th April to earn entry into the online freeroll.”
Each of the two packages is worth $15,500 and covers the Main Event buy-in of €10,000, five nights’ accommodation at a luxury Paris hotel and $800 spending money. For more information see: http://www.partypoker.com/news/items/apc2009.html
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Wednesday, April 22, 2009
Free Upper Class Vegas flight for every WSOP player
21st April 2009
The World Series of Poker (WSOP) is the oldest, largest, most prestigious, and most media-hyped gaming competition in the world and as such Virgin Poker is NOW running WSOP online satellites.
Now until 21st June 2009
Join one of these satellites and win either a €5,000 or €10,000 WSOP package, Virgin Poker will throw in 100,000 Virgin Atlantic Flying Club Miles – that’s enough for the winners to get there for free, and in style!!!
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21st April 2009
The World Series of Poker (WSOP) is the oldest, largest, most prestigious, and most media-hyped gaming competition in the world and as such Virgin Poker is NOW running WSOP online satellites.
Now until 21st June 2009
Join one of these satellites and win either a €5,000 or €10,000 WSOP package, Virgin Poker will throw in 100,000 Virgin Atlantic Flying Club Miles – that’s enough for the winners to get there for free, and in style!!!
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Tuesday, April 21, 2009
Poker Players Alliance to Spend $3 Million for Lobbying Efforts, by Tom Jenkins - Poker News Daily - 20th April 2009
In a recent article by the Associated Press, it was revealed that the Poker Players Alliance (PPA), the major lobbying force for the poker industry, plans to spend $3 million for lobbying efforts on Capitol Hill during the current Congressional session.
The online poker industry is on the cusp of seeing new internet gambling legislation introduced by Congressman Barney Frank (D-MA). It will need to sway a Congress that is engulfed with a struggling economy and ongoing war in Iraq to address the need for internet gambling or online poker legislation. The PPA’s method will be to lay out $3 million during the 111th Congress, which began in January and runs through the end of 2010. According to the Associated Press, The group gets its money from the “Interactive Gaming Council (IGC), a Vancouver, British Columbia-based trade association for online casinos, as well as from its poker player members.”
The PPA has over one million members worldwide, a number that it reached last year, and offers premium versions for a one-time fee of $20. Many of its constituents, however, are of the free variety. Benefits of upgrading to a premium membership include access to the PPA’s extensive Litigation Network, which puts poker players in need of legal counsel in touch with local pre-screened lawyers, as well as a discount program that touts potential savings of over $2,000 per year. Other benefits of the $20 membership include a PPA card protector and window decal, discounts on PPA merchandise, and the ability to donate to the organization’s Poker Political Action Committee (PAC).
The National Football League (NFL) has been among the advocates of continuing the enforcement of the Unlawful Internet Gambling Enforcement Act (UIGEA), which was passed into law during the final minutes of the 2006 Congressional session. Last month, it was revealed that the NFL had hired lobbyist Jeff Miller, who will serve as its first in-house counsel and keep the pulse of Capitol Hill. In an interview with the Associated Press, when asked whether he would continue to support upholding the UIGEA and Wire Act, Miller responded, "We want to maintain the integrity of the game, and gambling threatens that."
The UIGEA does not clarify what is legal and illegal under it. Instead, the doctrine defers to existing federal, state, and tribal laws and charges the financial services industry with its enforcement. The Associated Press article notes that half of the $16 billion internet gambling industry is “fueled by bettors in the United States.” The entire industry underwent a makeover as a result of the 2006 law, which sent the largest online poker site at the time, PartyPoker, packing from the market. In addition, payment processors such as Neteller and Citadel Commerce fled. A subsidiary of a publicly traded company, PartyPoker is now the fourth largest site or network worldwide according to PokerScout.com. It has also rebounded to become the second largest that does not accept players from the United States.
NFL spokesperson Brian McCarthy told the Associated Press, “We understand that illegal gambling currently occurs, but there is little we can do about that. However, we can exercise our right to oppose Internet betting on our games. Gambling on our games – online or offline – threatens the integrity of our games and all the values they represent.” A recent study by U.S.-based PricewaterhouseCoopers noted that up to $52 billion could be raised by taxing and regulating the internet gambling industry over a ten year period. However, that figure relied heavily on professional sports leagues opening up betting on their games, a concept the NFL appears to be ardently opposed to.
Frank told the Associated Press in a previous interview that he plans to introduce internet gambling legislation before the end of April. Congress was on a recess for the Easter holiday last week. The Chairman of the powerful House Financial Services Committee had originally intended to submit a bill in March, but it was ultimately postponed due to the ongoing economic meltdown. What form the legislation will take is also not yet known.
Stay tuned to Poker News Daily for the latest from Capitol Hill. (Credit: Poker News Daily)
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In a recent article by the Associated Press, it was revealed that the Poker Players Alliance (PPA), the major lobbying force for the poker industry, plans to spend $3 million for lobbying efforts on Capitol Hill during the current Congressional session.
The online poker industry is on the cusp of seeing new internet gambling legislation introduced by Congressman Barney Frank (D-MA). It will need to sway a Congress that is engulfed with a struggling economy and ongoing war in Iraq to address the need for internet gambling or online poker legislation. The PPA’s method will be to lay out $3 million during the 111th Congress, which began in January and runs through the end of 2010. According to the Associated Press, The group gets its money from the “Interactive Gaming Council (IGC), a Vancouver, British Columbia-based trade association for online casinos, as well as from its poker player members.”
The PPA has over one million members worldwide, a number that it reached last year, and offers premium versions for a one-time fee of $20. Many of its constituents, however, are of the free variety. Benefits of upgrading to a premium membership include access to the PPA’s extensive Litigation Network, which puts poker players in need of legal counsel in touch with local pre-screened lawyers, as well as a discount program that touts potential savings of over $2,000 per year. Other benefits of the $20 membership include a PPA card protector and window decal, discounts on PPA merchandise, and the ability to donate to the organization’s Poker Political Action Committee (PAC).
The National Football League (NFL) has been among the advocates of continuing the enforcement of the Unlawful Internet Gambling Enforcement Act (UIGEA), which was passed into law during the final minutes of the 2006 Congressional session. Last month, it was revealed that the NFL had hired lobbyist Jeff Miller, who will serve as its first in-house counsel and keep the pulse of Capitol Hill. In an interview with the Associated Press, when asked whether he would continue to support upholding the UIGEA and Wire Act, Miller responded, "We want to maintain the integrity of the game, and gambling threatens that."
The UIGEA does not clarify what is legal and illegal under it. Instead, the doctrine defers to existing federal, state, and tribal laws and charges the financial services industry with its enforcement. The Associated Press article notes that half of the $16 billion internet gambling industry is “fueled by bettors in the United States.” The entire industry underwent a makeover as a result of the 2006 law, which sent the largest online poker site at the time, PartyPoker, packing from the market. In addition, payment processors such as Neteller and Citadel Commerce fled. A subsidiary of a publicly traded company, PartyPoker is now the fourth largest site or network worldwide according to PokerScout.com. It has also rebounded to become the second largest that does not accept players from the United States.
NFL spokesperson Brian McCarthy told the Associated Press, “We understand that illegal gambling currently occurs, but there is little we can do about that. However, we can exercise our right to oppose Internet betting on our games. Gambling on our games – online or offline – threatens the integrity of our games and all the values they represent.” A recent study by U.S.-based PricewaterhouseCoopers noted that up to $52 billion could be raised by taxing and regulating the internet gambling industry over a ten year period. However, that figure relied heavily on professional sports leagues opening up betting on their games, a concept the NFL appears to be ardently opposed to.
Frank told the Associated Press in a previous interview that he plans to introduce internet gambling legislation before the end of April. Congress was on a recess for the Easter holiday last week. The Chairman of the powerful House Financial Services Committee had originally intended to submit a bill in March, but it was ultimately postponed due to the ongoing economic meltdown. What form the legislation will take is also not yet known.
Stay tuned to Poker News Daily for the latest from Capitol Hill. (Credit: Poker News Daily)
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Monday, April 20, 2009
WPT Championship Begins Saturday, by Dan Cypra - Poker News Daily - 16th April 2009
On Saturday, the World Poker Tour (WPT) Championship will kick off from the Bellagio in Las Vegas. The $25,000 buy-in tournament is the last stop of Season VII and will crown a champion seven days later.
Last year, David Chiu emerged victorious from a pack of 545 entrants en route to victory. He pocketed $3.4 million for his efforts, one of the largest paydays in WPT history. The finale featured Chiu take on Full Tilt Poker pro Gus Hansen, one of the world’s most feared players. Hansen landed a $1.7 million consolation prize. Also at the final table were John Roveto (third for $923,355), Cory “UGOTPZD” Carroll (fourth for $593,645), Tommy Le (fifth for $395,725), and Jeff King (sixth for $263,815). A total of 100 players finished in the money during the Season VI WPT Championship.
In a tournament series that has seen a bevy of events come and go, the WPT Championship has remained a staple. The annual end of year gala has seen some of the world’s top poker players dominate. During the Season V WPT Championship, “The Spaniard” Carlos Mortensen triumphed over a field of 639 players and cashed for $3.9 million. He defeated World Series of Poker (WSOP) bracelet winner Kirk Morrison heads-up; Morrison took home $2.0 million for his efforts. Others who claimed life-changing money were Paul Lee (third for $1.1 million), Guy Laliberte (fourth for $696,220), Tim Phan (fifth for $464,110), and Mike Wattel (sixth for $309,405).
The Season IV final table will go down as one of the most talented in the history of the WPT. In the end, Joe Bartholdi, a poker player in his 20s, bested Davidson Matthew heads-up and grabbed $3.8 million. Roland de Wolfe, James Van Alstyne, and Men “The Master” Nguyen also made the final table. During Season III, Tuan Le outlasted Paul Maxfield heads-up in a tournament that attracted 453 entrants. The duo were joined by Hasan Habib, John “The Razor” Phan, European Poker Tour (EPT) Monte Carlo Grand Final winner Rob Hollink, and Phil Ivey at the televised final table.
Season II saw Martin de Knijff battle Habib in the finale, with the former coming out on top and earning $2.7 million. Matt Matros and recent Bay 101 Shooting Star Champion Steve Brecher were also at the final table, taking third and sixth, respectively. The first ever WPT Championship was held in 2003, with Alan Goehring defeating Kirill Gerasimov. Goehring earned $1 million for the win over a final table that also featured Ivey, Doyle Brunson, and Ted Forrest. The $25,000 buy-in event is the richest of any WPT tournament. Each event’s winner during the regular season takes home an entry.
Here is the schedule for the seventh annual WPT Championship at the Bellagio in Las Vegas. All times are local:
Saturday, April 18th, 2009: Day 1A, 12:00pm
Sunday, April 19th, 2009: Day 1B, 12:00pm
Monday, April 20th, 2009: Day 2, 12:00pm
Tuesday, April 21st, 2009: Day 3, 12:00pm
Wednesday, April 22nd, 2009: Day 4, 12:00pm
Thursday, April 23rd, 2009: Day 5, 12:00pm
Friday, April 24th, 2009: Day 6, 12:00pm
Saturday, April 25th, 2009: Final Table, TBA
In addition to the WPT Championship, a $540 buy-in ClubWPT side event will take place on April 23rd at 2:00pm. ClubWPT is the tournament series’ subscription-based online poker room that accepts customers from the United States. Super satellites to the Main Event are also taking place daily. The final opportunity for players to win their way into the WPT Championship occurs on Saturday at 10:00pm; super satellite tournaments boast a $1,590 price tag.
The Season VII WPT Championship will air on Fox Sports Net, which also holds the rights to broadcast Season VIII of the roving tournament series. New episodes air on Sunday nights. (Credit: Poker News Daily)
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On Saturday, the World Poker Tour (WPT) Championship will kick off from the Bellagio in Las Vegas. The $25,000 buy-in tournament is the last stop of Season VII and will crown a champion seven days later.
Last year, David Chiu emerged victorious from a pack of 545 entrants en route to victory. He pocketed $3.4 million for his efforts, one of the largest paydays in WPT history. The finale featured Chiu take on Full Tilt Poker pro Gus Hansen, one of the world’s most feared players. Hansen landed a $1.7 million consolation prize. Also at the final table were John Roveto (third for $923,355), Cory “UGOTPZD” Carroll (fourth for $593,645), Tommy Le (fifth for $395,725), and Jeff King (sixth for $263,815). A total of 100 players finished in the money during the Season VI WPT Championship.
In a tournament series that has seen a bevy of events come and go, the WPT Championship has remained a staple. The annual end of year gala has seen some of the world’s top poker players dominate. During the Season V WPT Championship, “The Spaniard” Carlos Mortensen triumphed over a field of 639 players and cashed for $3.9 million. He defeated World Series of Poker (WSOP) bracelet winner Kirk Morrison heads-up; Morrison took home $2.0 million for his efforts. Others who claimed life-changing money were Paul Lee (third for $1.1 million), Guy Laliberte (fourth for $696,220), Tim Phan (fifth for $464,110), and Mike Wattel (sixth for $309,405).
The Season IV final table will go down as one of the most talented in the history of the WPT. In the end, Joe Bartholdi, a poker player in his 20s, bested Davidson Matthew heads-up and grabbed $3.8 million. Roland de Wolfe, James Van Alstyne, and Men “The Master” Nguyen also made the final table. During Season III, Tuan Le outlasted Paul Maxfield heads-up in a tournament that attracted 453 entrants. The duo were joined by Hasan Habib, John “The Razor” Phan, European Poker Tour (EPT) Monte Carlo Grand Final winner Rob Hollink, and Phil Ivey at the televised final table.
Season II saw Martin de Knijff battle Habib in the finale, with the former coming out on top and earning $2.7 million. Matt Matros and recent Bay 101 Shooting Star Champion Steve Brecher were also at the final table, taking third and sixth, respectively. The first ever WPT Championship was held in 2003, with Alan Goehring defeating Kirill Gerasimov. Goehring earned $1 million for the win over a final table that also featured Ivey, Doyle Brunson, and Ted Forrest. The $25,000 buy-in event is the richest of any WPT tournament. Each event’s winner during the regular season takes home an entry.
Here is the schedule for the seventh annual WPT Championship at the Bellagio in Las Vegas. All times are local:
Saturday, April 18th, 2009: Day 1A, 12:00pm
Sunday, April 19th, 2009: Day 1B, 12:00pm
Monday, April 20th, 2009: Day 2, 12:00pm
Tuesday, April 21st, 2009: Day 3, 12:00pm
Wednesday, April 22nd, 2009: Day 4, 12:00pm
Thursday, April 23rd, 2009: Day 5, 12:00pm
Friday, April 24th, 2009: Day 6, 12:00pm
Saturday, April 25th, 2009: Final Table, TBA
In addition to the WPT Championship, a $540 buy-in ClubWPT side event will take place on April 23rd at 2:00pm. ClubWPT is the tournament series’ subscription-based online poker room that accepts customers from the United States. Super satellites to the Main Event are also taking place daily. The final opportunity for players to win their way into the WPT Championship occurs on Saturday at 10:00pm; super satellite tournaments boast a $1,590 price tag.
The Season VII WPT Championship will air on Fox Sports Net, which also holds the rights to broadcast Season VIII of the roving tournament series. New episodes air on Sunday nights. (Credit: Poker News Daily)
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Congress Won't Legalize iGaming Soon, Vegas Analyst Predicts
Other matters occupying legislature's time, columnist claims
April 16, 2009 (CAP Newswire) -- In his popular weekly Inside Gaming column, Las Vegas Review-Journal writer Howard Stutz predicts that, despite the much-publicized promises of Barney Frank and the presence of a new, more iGaming-friendly presidential administration, the U.S. Congress isn’t likely to act on reversing the UIGEA anytime soon.
“Congress is tied up with other pressing issues,” he writes.
The main reason cited by Stutz is that Macquarie Securities gaming analyst Joel Simkins has told investors he doesn’t think legalization will happen soon. Simkins came to this conclusion after “checking with Washington, D.C., lobbyist contacts and casino company operators dialed into Capitol Hill,” relates Stutz.
"We see little reason for investors to try to play this near-term," Simkins was quoted in the article.
Even despite the fact that an estimated $20 to $25 billion is spent annually on online gambling, lawmakers simply aren’t concerned about the issue at this point, given the severity of the U.S. recession (and the media's preoccupation with that issue).
"Given the more pressing economic concerns of industries that currently employ considerably more potential voters than online gaming ever will, we think the odds are very slim that online gaming will be supported on Capitol Hill," Simkins was quoted.
Simkins does, however, predict that online gaming will eventually be legalized, most likely by an "intranet" gambling system on a state-by-state level.
Click here to read Howard Stutz's column at the Las Vegas Review Journal.
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Other matters occupying legislature's time, columnist claims
April 16, 2009 (CAP Newswire) -- In his popular weekly Inside Gaming column, Las Vegas Review-Journal writer Howard Stutz predicts that, despite the much-publicized promises of Barney Frank and the presence of a new, more iGaming-friendly presidential administration, the U.S. Congress isn’t likely to act on reversing the UIGEA anytime soon.
“Congress is tied up with other pressing issues,” he writes.
The main reason cited by Stutz is that Macquarie Securities gaming analyst Joel Simkins has told investors he doesn’t think legalization will happen soon. Simkins came to this conclusion after “checking with Washington, D.C., lobbyist contacts and casino company operators dialed into Capitol Hill,” relates Stutz.
"We see little reason for investors to try to play this near-term," Simkins was quoted in the article.
Even despite the fact that an estimated $20 to $25 billion is spent annually on online gambling, lawmakers simply aren’t concerned about the issue at this point, given the severity of the U.S. recession (and the media's preoccupation with that issue).
"Given the more pressing economic concerns of industries that currently employ considerably more potential voters than online gaming ever will, we think the odds are very slim that online gaming will be supported on Capitol Hill," Simkins was quoted.
Simkins does, however, predict that online gaming will eventually be legalized, most likely by an "intranet" gambling system on a state-by-state level.
Click here to read Howard Stutz's column at the Las Vegas Review Journal.
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Sunday, April 19, 2009
Big poker weekend on tap, by Andy Samuelson - Las Vegas Sun - 17th April 2009
It’s a big weekend for Las Vegas’ poker scene.
Tonight Jennifer Harman’s third-annual Charity Poker Tournament kicks off at 5 p.m. in the Venetian poker room.
The event, which benefits the Nevada Society for the Prevention of Cruelty to Animals (SPCA), includes past World Series of Poker main-event champions Doyle Brunson, Chris Ferguson, Phil Hellmuth, and Jerry Yang.
Other pros that plan on playing the $330 buy-in, $100 rebuys an add-ons tourney include Phil Ivey, Daniel Negreanu, Barry Greenstein, Eli Elezra, Andy Bloch, Maria Ho, and Tiffany Michelle.
The winner grabs a seat at the 2009 World Series of Poker main event and a Curtis and Co. watch. The top 10 finishers also win prizes.
On Saturday, the World Poker Tour (WPT) Championship kicks off at the Bellagio.
The $25,000 buy-in tournament is the last stop of Season VII and will air on Fox Sports Net.
David Chiu beat out 545 entrants last year, including Full Tilt Poker pro Gus Hansen, to claim the $3.4 million top prize. Hansen snagged $1.7 million for second as 100 players finished in the money.
The London Times reported Sunday that Harrah's Entertainment hired Mitch Garber, the former PartyGaming CEO.
While his role hasn’t been defined, speculators say Garber could head a new division of Internet gambling as well as the WSOP.
According to PokerListings, Harrah’s CEO Gary Loveman said at the 2007 Global Gaming Expo that the WSOP may branch into online formats in Europe.
Legalities in the United States prevent such a situation, but a U.S.-based company can offer online services in Europe.
"Although there's plenty of support brewing for legalization and regulation of online gambling in the United States, it's not a done deal yet," wrote Lou Krieger, the editor of Poker Player Newspaper, on a recent blog.
"Nevertheless, Garber's hiring puts Harrah's out in front of the curve should UIGEA be set aside, and Garber's presence would give Harrah's a hand up the ladder in the US online poker market." (Credit: Las Vegas Sun)
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It’s a big weekend for Las Vegas’ poker scene.
Tonight Jennifer Harman’s third-annual Charity Poker Tournament kicks off at 5 p.m. in the Venetian poker room.
The event, which benefits the Nevada Society for the Prevention of Cruelty to Animals (SPCA), includes past World Series of Poker main-event champions Doyle Brunson, Chris Ferguson, Phil Hellmuth, and Jerry Yang.
Other pros that plan on playing the $330 buy-in, $100 rebuys an add-ons tourney include Phil Ivey, Daniel Negreanu, Barry Greenstein, Eli Elezra, Andy Bloch, Maria Ho, and Tiffany Michelle.
The winner grabs a seat at the 2009 World Series of Poker main event and a Curtis and Co. watch. The top 10 finishers also win prizes.
On Saturday, the World Poker Tour (WPT) Championship kicks off at the Bellagio.
The $25,000 buy-in tournament is the last stop of Season VII and will air on Fox Sports Net.
David Chiu beat out 545 entrants last year, including Full Tilt Poker pro Gus Hansen, to claim the $3.4 million top prize. Hansen snagged $1.7 million for second as 100 players finished in the money.
The London Times reported Sunday that Harrah's Entertainment hired Mitch Garber, the former PartyGaming CEO.
While his role hasn’t been defined, speculators say Garber could head a new division of Internet gambling as well as the WSOP.
According to PokerListings, Harrah’s CEO Gary Loveman said at the 2007 Global Gaming Expo that the WSOP may branch into online formats in Europe.
Legalities in the United States prevent such a situation, but a U.S.-based company can offer online services in Europe.
"Although there's plenty of support brewing for legalization and regulation of online gambling in the United States, it's not a done deal yet," wrote Lou Krieger, the editor of Poker Player Newspaper, on a recent blog.
"Nevertheless, Garber's hiring puts Harrah's out in front of the curve should UIGEA be set aside, and Garber's presence would give Harrah's a hand up the ladder in the US online poker market." (Credit: Las Vegas Sun)
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