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The biggest pot in March from the high stakes online poker world came yesterday in a vicious match between Phil “OMGClayAiken” Galfond and Viktor “Isildur1” Blom.
The action began with Galfond ($120,000) raising the button to $1,600. Blom ($200,000) three-bet to $5,400, and Galfond made the call. The flop fell JClub Suit 3Diamond Suit 2Diamond Suit.
Blom fired $7,200, and Galfond just called.
The 7Spade Suit landed on the turn.
Blom barreled again, this time for $16,800. Galfond made it $75,600. Blom elected to put the Maryland native all-in for around $32,000 more. Galfond, of course, made the call.
The cards were tabled, and Blom held the ASpade Suit AClub Suit KDiamond Suit QDiamond Suit, while Galfond exposed the JHeart Suit 9Heart Suit 7Heart Suit 4Heart Suit. Blom had the commanding lead on the flop, but the turn gave Galfond two pair. According to Card Player’s pot-limit Omaha odds calculator, Galfond’s hand holds about 65 percent of the time. The pair elected to run it twice, however.
The first river was the QClub Suit, which was safe for Galfond. The second river brought 10Heart Suit — also a card that was not what the Swede needed.
Galfond raked in the massive $240,000 hand.
Despite losing that hand (also the sixth largest so far in 2014), Bloom managed to be up around $300,000 when the match against Galfond was over, according to HighstakesDB.
As of Monday, Blom was up around $1 million on 2014, while Galfond was in the hole nearly $1.2 million. Their match together this weekend reportedly lasted 12 hours.
They were playing four tables of $300-$600.
Online Poker: Galfond, Blom In $240,000 Pot
The action began with Galfond ($120,000) raising the button to $1,600. Blom ($200,000) three-bet to $5,400, and Galfond made the call. The flop fell JClub Suit 3Diamond Suit 2Diamond Suit.
Blom fired $7,200, and Galfond just called.
The 7Spade Suit landed on the turn.
Blom barreled again, this time for $16,800. Galfond made it $75,600. Blom elected to put the Maryland native all-in for around $32,000 more. Galfond, of course, made the call.
The cards were tabled, and Blom held the ASpade Suit AClub Suit KDiamond Suit QDiamond Suit, while Galfond exposed the JHeart Suit 9Heart Suit 7Heart Suit 4Heart Suit. Blom had the commanding lead on the flop, but the turn gave Galfond two pair. According to Card Player’s pot-limit Omaha odds calculator, Galfond’s hand holds about 65 percent of the time. The pair elected to run it twice, however.
The first river was the QClub Suit, which was safe for Galfond. The second river brought 10Heart Suit — also a card that was not what the Swede needed.
Galfond raked in the massive $240,000 hand.
Despite losing that hand (also the sixth largest so far in 2014), Bloom managed to be up around $300,000 when the match against Galfond was over, according to HighstakesDB.
As of Monday, Blom was up around $1 million on 2014, while Galfond was in the hole nearly $1.2 million. Their match together this weekend reportedly lasted 12 hours.
They were playing four tables of $300-$600.
Online Poker: Galfond, Blom In $240,000 Pot
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2006/12/07
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After a seven year hiatus, the payment processor Neteller has re-emerged in New Jersey’s regulated gambling market.
With its return, poker players residing within the Garden State now have access to two popular e-wallets – the other being Skrill - both of which possess a long history of working with companies in the online gaming sector.
Given that payment processing troubles are arguably the number one issue stifling the growth of NJ’s nascent iGaming market, the introduction of Neteller provides players who have had their Visa and MasterCard transactions rejected with a sorely needed alternative option, and subsequently the hope that they’ll be able to enjoy online poker in New Jersey.
But are Skrill and Neteller viable substitutes for more traditional payment methods, or just mere band-aid solutions?
As someone who has had his issues with online gaming-based credit card deposits before, that was the question I sought to answer.
What poker players should know about Skrill and Neteller
Skrill is currently available as a depositing and withdrawal option on NJ PartyPoker. Notably, it is not available on Party’s sister site Borgata Poker.
Deposit and withdrawal limits via Skrill are rather liberal, with the minimum set at $10 and the max at $50,000.
Withdrawals process within 24 hours and deposits are handled within mere moments. There are no associated fees with either withdrawals or deposits – at least none invoked by Party Poker.
The other e-wallet, Neteller, was recently added as a payment alternative on WSOP and 888poker. Currently it is only available for deposits, meaning that players who prefer Neteller will be asked to use one of three other methods (ACH, bank draft, casino cash) to retrieve their funds.
Although according to some accounts, Neteller will be available as a withdrawal option. That very well may be true, but if so, it hasn’t yet been implemented on WSOP, 888poker or Caesars’ online casinos: Harrah’s Casino and Caesars Casino.
Deposit limits range from $10 to $5,000 per transaction, although WSOP states that players can enhance their limits by first verifying their ID.
Skrill and Neteller are not catch-all solutions
Both e-wallets will more or less allow players to circumvent the issues they’re having with credit and debit card transactions. But with most alternative payment methods, there are drawbacks.
Skrill: Pros and cons for NJ online poker players
The most glaring problem with depositing using Skrill is that Party Poker will reject deposits funded by a MasterCard.
Considering that the average player is using Skrill because their credit card transaction was rejected, this limitation essentially halves Skrill’s usefulness. That being said, users funding Skrill with a Visa credit or debit card shouldn’t experience issues.
ACH and manual bank transfers have no associated fees, yet credit card transactions carry a nominal, yet notable, 2.9 percent fee.
The added benefit of funding Skrill via a card is that funds will be uploaded instantly. Conversely, ACH and manual transfers take a good three to five days.
Skrill also allows for paysafecard transactions. Unfortunately funding Skrill via a paysafecard proved less than an ideal experience.
For one, paysafecards must be purchased at a brick and mortar vendor. That wouldn’t be so bad if the vendors that supposedly sold the card didn’t look at me like I had three heads upon inquiring about their availability.
Secondly, depositing via paysafecard carries a whopping 4.95 percent transaction fee. Not to mention it adds a third step to an already somewhat tedious funds allocation process.
The good news is that paysafecards can potentially be purchased with a credit card, according to Neil Steinhardt, CEO of Skrill USA. Steinhardt told me that “supermarkets and major gas station convenience stores accept credit and debit as do many of the retailers in our distribution network.”
Neteller: Pros and cons for NJ online poker players
Neteller is slightly more versatile than Skrill in that it can be funded via MasterCard or Visa. Unfortunately, those are the only two ways of funding the cards.
On a more positive note, transactions are processed virtually instantaneously – although one of my MasterCard transactions was declined for an unspecified reason.
Transactions carried out through Neteller carry a 2.5 percent fee, which is by all accounts manageable. And neither WSOP nor 888poker will charge players a fee for funding via Neteller – so that’s a plus.
In order to increase depositing limits players must first validate their credit card. This requires them to retrieve a transaction number from either their card statement or by calling the issuing bank.
But first, Neteller will make a $3.00 deposit on the user’s behalf. Sound arduous? It is.
And as mentioned earlier, WSOP and 888poker will not process Neteller withdrawals, at least not yet.
Considering that Neteller pays out users with Net+ Prepaid Cards as opposed to cash, WSOP’s and 888′s limitation is probably for the best, especially when you factor in that Net+ cards can only be used for purchases where Discover is accepted.
Net+ ATM withdrawals can be made at Pulse or NYCE branded machines.
The bottom line: ACH remains the best option
Anyone who has had problems depositing using Visa or MasterCard should first consider giving bank transfers (ACH) a go.
It’s faster, more efficient and available for use by any player belonging to a rather inclusive list of approved banking institutions, many of which will not approve credit / debit card transactions.
NJ-based poker players with an account at one of the following banks should have little trouble depositing and withdrawing funds via ACH:
Bank of America
Chase
TD Bank
PNC Bank
New York Community Bank
Capital One 360
BB&T
HSBC Bank USA
Regions
Suntrust
US Bank
If all else f
With its return, poker players residing within the Garden State now have access to two popular e-wallets – the other being Skrill - both of which possess a long history of working with companies in the online gaming sector.
Given that payment processing troubles are arguably the number one issue stifling the growth of NJ’s nascent iGaming market, the introduction of Neteller provides players who have had their Visa and MasterCard transactions rejected with a sorely needed alternative option, and subsequently the hope that they’ll be able to enjoy online poker in New Jersey.
But are Skrill and Neteller viable substitutes for more traditional payment methods, or just mere band-aid solutions?
As someone who has had his issues with online gaming-based credit card deposits before, that was the question I sought to answer.
What poker players should know about Skrill and Neteller
Skrill is currently available as a depositing and withdrawal option on NJ PartyPoker. Notably, it is not available on Party’s sister site Borgata Poker.
Deposit and withdrawal limits via Skrill are rather liberal, with the minimum set at $10 and the max at $50,000.
Withdrawals process within 24 hours and deposits are handled within mere moments. There are no associated fees with either withdrawals or deposits – at least none invoked by Party Poker.
The other e-wallet, Neteller, was recently added as a payment alternative on WSOP and 888poker. Currently it is only available for deposits, meaning that players who prefer Neteller will be asked to use one of three other methods (ACH, bank draft, casino cash) to retrieve their funds.
Although according to some accounts, Neteller will be available as a withdrawal option. That very well may be true, but if so, it hasn’t yet been implemented on WSOP, 888poker or Caesars’ online casinos: Harrah’s Casino and Caesars Casino.
Deposit limits range from $10 to $5,000 per transaction, although WSOP states that players can enhance their limits by first verifying their ID.
Skrill and Neteller are not catch-all solutions
Both e-wallets will more or less allow players to circumvent the issues they’re having with credit and debit card transactions. But with most alternative payment methods, there are drawbacks.
Skrill: Pros and cons for NJ online poker players
The most glaring problem with depositing using Skrill is that Party Poker will reject deposits funded by a MasterCard.
Considering that the average player is using Skrill because their credit card transaction was rejected, this limitation essentially halves Skrill’s usefulness. That being said, users funding Skrill with a Visa credit or debit card shouldn’t experience issues.
ACH and manual bank transfers have no associated fees, yet credit card transactions carry a nominal, yet notable, 2.9 percent fee.
The added benefit of funding Skrill via a card is that funds will be uploaded instantly. Conversely, ACH and manual transfers take a good three to five days.
Skrill also allows for paysafecard transactions. Unfortunately funding Skrill via a paysafecard proved less than an ideal experience.
For one, paysafecards must be purchased at a brick and mortar vendor. That wouldn’t be so bad if the vendors that supposedly sold the card didn’t look at me like I had three heads upon inquiring about their availability.
Secondly, depositing via paysafecard carries a whopping 4.95 percent transaction fee. Not to mention it adds a third step to an already somewhat tedious funds allocation process.
The good news is that paysafecards can potentially be purchased with a credit card, according to Neil Steinhardt, CEO of Skrill USA. Steinhardt told me that “supermarkets and major gas station convenience stores accept credit and debit as do many of the retailers in our distribution network.”
Neteller: Pros and cons for NJ online poker players
Neteller is slightly more versatile than Skrill in that it can be funded via MasterCard or Visa. Unfortunately, those are the only two ways of funding the cards.
On a more positive note, transactions are processed virtually instantaneously – although one of my MasterCard transactions was declined for an unspecified reason.
Transactions carried out through Neteller carry a 2.5 percent fee, which is by all accounts manageable. And neither WSOP nor 888poker will charge players a fee for funding via Neteller – so that’s a plus.
In order to increase depositing limits players must first validate their credit card. This requires them to retrieve a transaction number from either their card statement or by calling the issuing bank.
But first, Neteller will make a $3.00 deposit on the user’s behalf. Sound arduous? It is.
And as mentioned earlier, WSOP and 888poker will not process Neteller withdrawals, at least not yet.
Considering that Neteller pays out users with Net+ Prepaid Cards as opposed to cash, WSOP’s and 888′s limitation is probably for the best, especially when you factor in that Net+ cards can only be used for purchases where Discover is accepted.
Net+ ATM withdrawals can be made at Pulse or NYCE branded machines.
The bottom line: ACH remains the best option
Anyone who has had problems depositing using Visa or MasterCard should first consider giving bank transfers (ACH) a go.
It’s faster, more efficient and available for use by any player belonging to a rather inclusive list of approved banking institutions, many of which will not approve credit / debit card transactions.
NJ-based poker players with an account at one of the following banks should have little trouble depositing and withdrawing funds via ACH:
Bank of America
Chase
TD Bank
PNC Bank
New York Community Bank
Capital One 360
BB&T
HSBC Bank USA
Regions
Suntrust
US Bank
If all else f
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2006/12/07
Messages:
29893
Many poker players are known for making dumb prop bets at the felt, on sports games, and whatever else they can bet on like vegetarian Howard Lederer’s quick $10K he made off David Grey for simply eating a burger. And then there’s Huck Seed’s 18-hour stint standing in the ocean up to his shoulders due to a lost bet with Phil Hellmuth. In addition, there’s been a couple of random bets among players that require moving into a Bellagio bathroom or bathtub, but the strangest and probably most pointless prop bet was between two New Zealand players five years ago.
When 22-year-old “Full Metal Havok More Sexy N Intelligent Than Spock And All The Superheroes Combined With Frostnova” went to renew his passport, he was met with the stark realization that when he applied for a name change (above) after losing a drunken poker bet a half decade ago, it actually was approved, according to a friend of Mr. Frostnova, who posted the story on an online body-building forum.
The name is actually 99 characters, one less than is allowed by New Zealand’s Department of Internal Affairs, and now that it has been approved, not only will it have to appear on the fellow’s passport, but will also need to be changed on his driving license as well as other legal documents, as the name was officially accepted in March 2010, according to Michael Mead from the Department of Internal Affairs.
After meeting all the legal criteria and with all application fees paid, Mead says that Frostnova would be able to change his name back.
This isn’t the first weird name change New Zealand has encountered. In 2008 authorities were court ordered to take Talula Does The Hula From Hawaii’s into custody in order to change her name. Other names rejected by New Zealand, according to the New Zealand Herald include Knight, Majesty, King, Justice, Princess, V8, and *. Legal names do not allow symbols in New Zealand, as if that needed to be cleared up.
Poker Prop Bet Gone Terribly Wrong
When 22-year-old “Full Metal Havok More Sexy N Intelligent Than Spock And All The Superheroes Combined With Frostnova” went to renew his passport, he was met with the stark realization that when he applied for a name change (above) after losing a drunken poker bet a half decade ago, it actually was approved, according to a friend of Mr. Frostnova, who posted the story on an online body-building forum.
The name is actually 99 characters, one less than is allowed by New Zealand’s Department of Internal Affairs, and now that it has been approved, not only will it have to appear on the fellow’s passport, but will also need to be changed on his driving license as well as other legal documents, as the name was officially accepted in March 2010, according to Michael Mead from the Department of Internal Affairs.
After meeting all the legal criteria and with all application fees paid, Mead says that Frostnova would be able to change his name back.
This isn’t the first weird name change New Zealand has encountered. In 2008 authorities were court ordered to take Talula Does The Hula From Hawaii’s into custody in order to change her name. Other names rejected by New Zealand, according to the New Zealand Herald include Knight, Majesty, King, Justice, Princess, V8, and *. Legal names do not allow symbols in New Zealand, as if that needed to be cleared up.
Poker Prop Bet Gone Terribly Wrong
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2006/12/07
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Spain’s average poker player is male, under 34 years old, and well educated. Spanish online poker players also appear to be at a lower risk of problem gambling when compared to any other form of online gambling.
These are the results of the third online gaming industry study by Spain’s Dirección General de Ordenación del Juego (DGOJ) published on the DGOJ website earlier this month.
The DGOJ's study combined interviews from 1,027 Spanish residents who have gambled online at least once in the past year. The study does not focus exclusively on online poker, but includes a total of nine different forms of online gaming including casino, sports, bingo, and lottery.
According to its results, Spain's online poker players are better educated than the typical online gambler, with 52% of them graduating from a university and 9% having a post-graduate degree. This compares favorably to online casino players, where 48% of the players seemed to have a university degree and 8% to have completed some form of post-graduate studies.
All forms of online gambling in Spain are dominated by men — 81% of online poker players are men, which makes it the most male-dominated form of gambling in Spain. Online poker players are typically young with 68% being under the age of 34. Online slots players are on average even younger with 78% under 34 years old.
Spanish poker players typically spend an hour during each online poker session, which is much higher than other forms of gambling. In fact, 83% of online poker players responded that they typically spend at least 60 minutes each time they sit down to play. Bingo and casino gambling were far behind at 58% and 57%, respectively.
Report: Meet Spain's Average Online Poker Player | PokerNews
These are the results of the third online gaming industry study by Spain’s Dirección General de Ordenación del Juego (DGOJ) published on the DGOJ website earlier this month.
The DGOJ's study combined interviews from 1,027 Spanish residents who have gambled online at least once in the past year. The study does not focus exclusively on online poker, but includes a total of nine different forms of online gaming including casino, sports, bingo, and lottery.
According to its results, Spain's online poker players are better educated than the typical online gambler, with 52% of them graduating from a university and 9% having a post-graduate degree. This compares favorably to online casino players, where 48% of the players seemed to have a university degree and 8% to have completed some form of post-graduate studies.
All forms of online gambling in Spain are dominated by men — 81% of online poker players are men, which makes it the most male-dominated form of gambling in Spain. Online poker players are typically young with 68% being under the age of 34. Online slots players are on average even younger with 78% under 34 years old.
Spanish poker players typically spend an hour during each online poker session, which is much higher than other forms of gambling. In fact, 83% of online poker players responded that they typically spend at least 60 minutes each time they sit down to play. Bingo and casino gambling were far behind at 58% and 57%, respectively.
Report: Meet Spain's Average Online Poker Player | PokerNews
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Not keen to suffer a repeat of being left out of the New Jersey online gambling landscape, online poker room, Poker Stars is doing all it can to ensure that it gets a fair turn to enter California’s online poker regime when the time comes. According to Pokerfuse and other media outlets, Poker Stars and the Moronga Band of Mission Indians are collaborating together to oppose any law which includes a “bad actor clause”. Poker Stars was not able to enter New Jersey’s industry due to a similar clause, and the group wants to make sure that this doesn’t happen in the Golden State. A “bad actor clause” essentially states that any gambling group which operated in contradiction to US gambling laws will not be eligible to apply for a license and serve local players. Poker Stars’ parent company, Rational Group wants to be part of a state that boasts 38 million citizens with an average household income of over $60,000.
Editor Note: If you live in Nevada, New Jersey or Deleware you can now play for real money at Play Online Poker with the World Series of Poker. For out of state residents, we recommend Online Sports Betting, Casino, Poker & Horse Racing at Bovada.
A tweet was recently put out by affiliate marketing platform iGaming Player, quoting a “good source close to the situation” that “PokerStars and the Morongo tribe close to a deal in CA. No wonder there is no “bad actor” clause in the bill supported by Morongo.”
California is ripe for delivering an online poker law but up until now, interest groups in the state have been unable to agree on the wording of a potential bill. There are currently two bills being proposed - SB 1366, sponsored by State Senator Lou Correa and AB 2291, sponsored by Reginald Jones-Sawyer.
Many tribes were initially afraid that online gambling would have a negative impact on their land based interests, however most understand the benefits of combining the two industries and tapping into the potential millions.
Poker Stars Fighting for Inclusion in California Online Poker Legislation
Editor Note: If you live in Nevada, New Jersey or Deleware you can now play for real money at Play Online Poker with the World Series of Poker. For out of state residents, we recommend Online Sports Betting, Casino, Poker & Horse Racing at Bovada.
A tweet was recently put out by affiliate marketing platform iGaming Player, quoting a “good source close to the situation” that “PokerStars and the Morongo tribe close to a deal in CA. No wonder there is no “bad actor” clause in the bill supported by Morongo.”
California is ripe for delivering an online poker law but up until now, interest groups in the state have been unable to agree on the wording of a potential bill. There are currently two bills being proposed - SB 1366, sponsored by State Senator Lou Correa and AB 2291, sponsored by Reginald Jones-Sawyer.
Many tribes were initially afraid that online gambling would have a negative impact on their land based interests, however most understand the benefits of combining the two industries and tapping into the potential millions.
Poker Stars Fighting for Inclusion in California Online Poker Legislation
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Russ DeLeon, best known as an online poker magnate after becoming a major PartyGaming stockholder after the company's 2005 IPO, is being sued by the Chevron Corp. after financing a controversial and long-running environmental lawsuit that allegedly used fraudulent and racketeering means to obtain a $19 billion judgment in an Ecuadorian court.
According to Roger Parloff of Fortune, Chevron contends that DeLeon, who invested millions of dollars to fund the litigation, was aware that the plaintiffs, headed by his Harvard Law School classmate Steven Donziger, were "employing fraudulent and other criminal means to win the judgment."
Previous court documents revealed that DeLeon invested at least $1.6 million for 25%-30% of any future settlement. Chevron is seeking unspecified damages from DeLeon, who has denied any wrongdoing. A court in Gibraltar, where DeLeon took up residence in 2008, issued a ruling in which it stated that it will hear the suit.
On March 4, U.S. District Judge Lewis Kaplan of New York called the lawsuit a massive fraud against the company in which the plaintiffs violated the Racketeer Influenced and Corrupt Organizations Act.
"A U.S. federal court in New York has ruled that the judgment against Chevron in Ecuador is the product of a fraudulent scheme intended to extort billions of dollars from the company," Morgan Crinklaw, a Chevron spokesman, said in a prepared statement. "Chevron believes that the perpetrators of that scheme should be held accountable for knowingly advancing the fraud. This action is part of that effort."
DeLeon made his fortune working for PartyGaming when it launched partypoker. DeLeon married Ruth Parasol in 2003. Parasol is the woman behind PartyGaming, which she launched in 1997. The two separated in 2010 and are currently selling off their shares as part of a divorce settlement. Last year, both DeLeon and Parasol agreed to divest their holdings in bwin.party in order to avoid regulatory hurdles associated with the New Jersey licensing process.
Online Poker Tycoon Russ DeLeon Being Sued by Chevron Corp. | PokerNews
According to Roger Parloff of Fortune, Chevron contends that DeLeon, who invested millions of dollars to fund the litigation, was aware that the plaintiffs, headed by his Harvard Law School classmate Steven Donziger, were "employing fraudulent and other criminal means to win the judgment."
Previous court documents revealed that DeLeon invested at least $1.6 million for 25%-30% of any future settlement. Chevron is seeking unspecified damages from DeLeon, who has denied any wrongdoing. A court in Gibraltar, where DeLeon took up residence in 2008, issued a ruling in which it stated that it will hear the suit.
On March 4, U.S. District Judge Lewis Kaplan of New York called the lawsuit a massive fraud against the company in which the plaintiffs violated the Racketeer Influenced and Corrupt Organizations Act.
"A U.S. federal court in New York has ruled that the judgment against Chevron in Ecuador is the product of a fraudulent scheme intended to extort billions of dollars from the company," Morgan Crinklaw, a Chevron spokesman, said in a prepared statement. "Chevron believes that the perpetrators of that scheme should be held accountable for knowingly advancing the fraud. This action is part of that effort."
DeLeon made his fortune working for PartyGaming when it launched partypoker. DeLeon married Ruth Parasol in 2003. Parasol is the woman behind PartyGaming, which she launched in 1997. The two separated in 2010 and are currently selling off their shares as part of a divorce settlement. Last year, both DeLeon and Parasol agreed to divest their holdings in bwin.party in order to avoid regulatory hurdles associated with the New Jersey licensing process.
Online Poker Tycoon Russ DeLeon Being Sued by Chevron Corp. | PokerNews
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Global Online Poker Traffic Plunges 14% Last WeekLast week global online poker traffic took a 4% dive, with the bad news further compounded by the fact it was the fifth week in a row of declines with just one week from the last nine now showing an improvement over the previous week. Overall, last week global online traffic was down 14% compared to the same week in 2013, in spite of the fact $76 million was returned to U.S. players by Full Tilt two and a half weeks earlier.
Helping to explain the downward figures was spring getting off to an early start with temperatures across the whole of Europe significantly higher than last year. As a result, online poker players deserted their PC’s in their droves in favour of more outdoor pursuits.
Ten years ago poker was going through its glory days and a year after Chris Moneymaker won the 2003 WSOP Main Event, players around the world were in the grip of the online poker phenomena. Examining the disappointing results so far this year, analysts have suggested that back then when Fixed Limit variants were more popular, those games were much better at attracting sociable and casual players. Thesedays No-Limit Hold’em is all the rage, with analysts suggesting recreational players are more likely to lose their money quicker, and suffer the unpleasant experience of losing all their money on one hand, therefore likely dissuading them from returning to the game.
For the week ending March 18, 2014, nine out of the top ten ranked sites saw their traffic numbers decline, with Full Tilt Poker also continuing to languish in 5th place behind PartyPoker. Commenting on Full Tilt’s 4% decline in traffic last week, PokerScout-com, wrote:
“Full Tilt has, in the past, responded aggressively to such shifts, twice offering its successful ‘Big Bonus’ promotion to re-incentivize cash game players. This time, however, the response has been more muted. Full Tilt ran a Team Pro missions promotion last week, but the multi-stage promo may have been too complicated to generate much excitement.”
Global Online Poker Traffic Plunges 14% Last Week
Helping to explain the downward figures was spring getting off to an early start with temperatures across the whole of Europe significantly higher than last year. As a result, online poker players deserted their PC’s in their droves in favour of more outdoor pursuits.
Ten years ago poker was going through its glory days and a year after Chris Moneymaker won the 2003 WSOP Main Event, players around the world were in the grip of the online poker phenomena. Examining the disappointing results so far this year, analysts have suggested that back then when Fixed Limit variants were more popular, those games were much better at attracting sociable and casual players. Thesedays No-Limit Hold’em is all the rage, with analysts suggesting recreational players are more likely to lose their money quicker, and suffer the unpleasant experience of losing all their money on one hand, therefore likely dissuading them from returning to the game.
For the week ending March 18, 2014, nine out of the top ten ranked sites saw their traffic numbers decline, with Full Tilt Poker also continuing to languish in 5th place behind PartyPoker. Commenting on Full Tilt’s 4% decline in traffic last week, PokerScout-com, wrote:
“Full Tilt has, in the past, responded aggressively to such shifts, twice offering its successful ‘Big Bonus’ promotion to re-incentivize cash game players. This time, however, the response has been more muted. Full Tilt ran a Team Pro missions promotion last week, but the multi-stage promo may have been too complicated to generate much excitement.”
Global Online Poker Traffic Plunges 14% Last Week
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Early projections of a massive swell of cash from legalized online gaming may have been overly optimistic, but regulation launched a breakthrough in the gambling world, Ultimate Gaming’s top executives told a crowd of about 200 on Thursday at the iGaming North America 2014 conference.
In a joint keynote speech at Planet Hollywood, the company’s chairman Tom Breitling and CEO Tobin Prior pushed for extended legislation across the country.
While creating new jobs, the sites can be trusted and taxed, they said.
“Regulation now means victory,” Prior said.
The two highlighted lessons the company learned in a year of operation since launching the first regulated online real-money poker site in Nevada on April 30. Caesars-owned WSOP-com followed Ultimate Poker in the Nevada and New Jersey markets before South Point’s Real Gaming started taking bets from online players in the Silver State last month.
In that time, Ultimate Poker dealt more than 27 million virtual hands of poker and organized more than 200,000 online tournaments.
Analysts overestimated the profitability of a market primarily driven by players in Nevada and New Jersey, Breitling admitted. Before anyone ever clicked “raise” on a legal online poker site, some predicted upward of $80 million in revenue in Nevada and anywhere between $250 million to $1.2 billion in New Jersey in the first year alone. Though Breitling declined to disclose the actual figures, he acknowledged that the numbers would fall decidedly short. Ultimate Gaming is expected to reveal its data within the next few months.
Gov. Brian Sandoval is scheduled to address the first year of online poker in Nevada as the conference concludes Friday.
Because the states with legalized poker set strict standards for verifying a player’s age and location, gamblers must navigate a much more detailed registration than they did when unregulated sites dominated the market.
“We had incorporated way too many clicks in this process, and so people who had played online poker in the past never had to go through this detailed process filled with all these extra clicks,” Breitling said. “Some people are taking a wait-and-see attitude about playing online games.”
Still, Prior touted the site’s software, and said the company has “no issue” with underage gamblers. Before launching, Ultimate Gaming spent three months in labs tweaking its software, followed by three months of field tests during which they generated the equivalent of 700,000 pages of documents.
He also addressed “huge challenges” in technology, such as payment processing and ensuring that players are located within the state where online gaming is legal.
For instance, the company found that it was easier to create a buffer zone around Nevada’s borders than it was in New Jersey, where more people live around the state line.
And while players can deposit and withdraw at any of the 17 Station Casinos in Nevada, Visa blocks online gambling transactions, even where it’s legal.
“Our online games are far better protected than those in a land-based environment,” Prior said. “And they allow each player to set his or her own limits.”
Ultimate Poker is an offshoot of Station Casinos, owned by the Lorenzo and Frank Fertitta, who also own Ultimate Fighting Championship, from which the poker site gets its name. Breitling said Station Casinos launched Ultimate Poker with the intention of drawing online players to brick-and-mortar properties, where the site is heavily promoted.
“We’re certainly not trying to destroy brick-and-mortar casinos,” he said. “That would be insane. … From the outset, we always saw our business model as bricks and clicks.”
Breitling attacked illegal online gambling sites, pointing specifically at U.S.-facing Bovada, which allows real money poker and sports betting. He projected that further regulation would eliminate “pirate” sites that cost Nevada and New Jersey “millions of dollars in tax revenue.”
Meanwhile, there is opposition to online gambling, the most vocal of which is led by Las Vegas Sands Corp. chairman Sheldon Adelson. His point man on the issue, Andy Abboud, debated Caesars Interactive Entertainment CEO Mitch Garber at the iGaming conference on Wednesday.
In commentary that drew parallels between online poker and the rise in popularity of mixed martial arts, Breitling took one more jab at an resistance to the legalization of web gaming:
“Technology works, and prohibition doesn’t.”
Online poker regulation hailed as victory by casino executives | Las Vegas Review-Journal
In a joint keynote speech at Planet Hollywood, the company’s chairman Tom Breitling and CEO Tobin Prior pushed for extended legislation across the country.
While creating new jobs, the sites can be trusted and taxed, they said.
“Regulation now means victory,” Prior said.
The two highlighted lessons the company learned in a year of operation since launching the first regulated online real-money poker site in Nevada on April 30. Caesars-owned WSOP-com followed Ultimate Poker in the Nevada and New Jersey markets before South Point’s Real Gaming started taking bets from online players in the Silver State last month.
In that time, Ultimate Poker dealt more than 27 million virtual hands of poker and organized more than 200,000 online tournaments.
Analysts overestimated the profitability of a market primarily driven by players in Nevada and New Jersey, Breitling admitted. Before anyone ever clicked “raise” on a legal online poker site, some predicted upward of $80 million in revenue in Nevada and anywhere between $250 million to $1.2 billion in New Jersey in the first year alone. Though Breitling declined to disclose the actual figures, he acknowledged that the numbers would fall decidedly short. Ultimate Gaming is expected to reveal its data within the next few months.
Gov. Brian Sandoval is scheduled to address the first year of online poker in Nevada as the conference concludes Friday.
Because the states with legalized poker set strict standards for verifying a player’s age and location, gamblers must navigate a much more detailed registration than they did when unregulated sites dominated the market.
“We had incorporated way too many clicks in this process, and so people who had played online poker in the past never had to go through this detailed process filled with all these extra clicks,” Breitling said. “Some people are taking a wait-and-see attitude about playing online games.”
Still, Prior touted the site’s software, and said the company has “no issue” with underage gamblers. Before launching, Ultimate Gaming spent three months in labs tweaking its software, followed by three months of field tests during which they generated the equivalent of 700,000 pages of documents.
He also addressed “huge challenges” in technology, such as payment processing and ensuring that players are located within the state where online gaming is legal.
For instance, the company found that it was easier to create a buffer zone around Nevada’s borders than it was in New Jersey, where more people live around the state line.
And while players can deposit and withdraw at any of the 17 Station Casinos in Nevada, Visa blocks online gambling transactions, even where it’s legal.
“Our online games are far better protected than those in a land-based environment,” Prior said. “And they allow each player to set his or her own limits.”
Ultimate Poker is an offshoot of Station Casinos, owned by the Lorenzo and Frank Fertitta, who also own Ultimate Fighting Championship, from which the poker site gets its name. Breitling said Station Casinos launched Ultimate Poker with the intention of drawing online players to brick-and-mortar properties, where the site is heavily promoted.
“We’re certainly not trying to destroy brick-and-mortar casinos,” he said. “That would be insane. … From the outset, we always saw our business model as bricks and clicks.”
Breitling attacked illegal online gambling sites, pointing specifically at U.S.-facing Bovada, which allows real money poker and sports betting. He projected that further regulation would eliminate “pirate” sites that cost Nevada and New Jersey “millions of dollars in tax revenue.”
Meanwhile, there is opposition to online gambling, the most vocal of which is led by Las Vegas Sands Corp. chairman Sheldon Adelson. His point man on the issue, Andy Abboud, debated Caesars Interactive Entertainment CEO Mitch Garber at the iGaming conference on Wednesday.
In commentary that drew parallels between online poker and the rise in popularity of mixed martial arts, Breitling took one more jab at an resistance to the legalization of web gaming:
“Technology works, and prohibition doesn’t.”
Online poker regulation hailed as victory by casino executives | Las Vegas Review-Journal
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2006/12/07
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The third study of the industry of Spanish poker published by the Dirección General de Ordenación del Juego (DGOJ), the equivalent of the ARJEL in France, has indicated that Spain is a country favorable to the practice of online games, and that players prefer more casino games, sports betting, bingo or lotteries. Online poker attracts numerous gamers in Spain, among whom the majority are degree holders: university degree (52%) and post-graduate diploma (9%). In online casino gaming, the rate of degreed players decreases by 48% for university degree and 8% for post-graduate diploma. In Spain, 81% of players of online poker are men, among whom 68% are less than 34 years old. But slot machine attracts the most of young players of less than 34 years old (78%).
According to the DGOJ, online poker presents less risks of addiction, even if gamers spend more than one hour to play on it. In fact, 83% of players of online poker admit to have sessions of at least one hour, against 58% and 57% for players of bingo and casino games. The attendance is also higher compared with other online games, but gamers are ready to stop the game in case of absolute necessity, which avoids the problem of addiction. 16% of players of poker play everyday, and 39% for at least once a week. 47% of poker players can stop easily their session if important event occurs. That is encouraging compared with answers of players of casino and gambling machines, respectively 30% and 27%. 1,027 Spanish admit having played at least once in 2013.
Poker News - Spain: Online poker attracts the most of players
According to the DGOJ, online poker presents less risks of addiction, even if gamers spend more than one hour to play on it. In fact, 83% of players of online poker admit to have sessions of at least one hour, against 58% and 57% for players of bingo and casino games. The attendance is also higher compared with other online games, but gamers are ready to stop the game in case of absolute necessity, which avoids the problem of addiction. 16% of players of poker play everyday, and 39% for at least once a week. 47% of poker players can stop easily their session if important event occurs. That is encouraging compared with answers of players of casino and gambling machines, respectively 30% and 27%. 1,027 Spanish admit having played at least once in 2013.
Poker News - Spain: Online poker attracts the most of players
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2006/12/07
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The past 48 hours or so netted poker pro Viktor Blom more than $200,000, bringing his profits on the year to more than $1 million once again.
Blom has been incredibly swingy this year, as he was up more than $2 million in February. He fell into the hole in the early part of March, before climbing out recently. His solid week came despite losing a sick $240,000 pot to Phil Galfond in pot-limit Omaha.
Lifetime, Blom is down around $500,000 on Full Tilt Poker, according to HighstakesDB.
Another player who has been up and down lately is Gus Hansen, though that’s much better than just down. Hansen was able to erase around $1 million of his lifetime deficit on the software, but gave some of that upswing money back recently. He’s back to being down around $16.1 million over his career on the Full Tilt software, which is the most ever.
In other news, Ben “Bttech86” Tollerene opted out of having his long-term results tracked, HighstakesDB said. Tollerene could very well be the biggest winner across all sites so far this year. Other high-stakes pros have opted out before, including Niklas “ragen70” Heinecker.
As a result, any sort of look at the overall winners and losers for the year is increasingly becoming more and more obsolete, unfortunately. The poker community might implode if Blom ever decides to stop having his results tracked.
Blom’s recent profits came at pot-limit Omaha and limit deuce-to-seven triple draw.
Card Player recently interviewed Dan Cates about Blom, after the two had a really heated exchange earlier this month. Cates called Blom a “scumbag.”
Cates is up more than $1 million as well in 2014.
High-Stakes Online Poker: Viktor Blom Back To $1 Million In Profits On The Year
Blom has been incredibly swingy this year, as he was up more than $2 million in February. He fell into the hole in the early part of March, before climbing out recently. His solid week came despite losing a sick $240,000 pot to Phil Galfond in pot-limit Omaha.
Lifetime, Blom is down around $500,000 on Full Tilt Poker, according to HighstakesDB.
Another player who has been up and down lately is Gus Hansen, though that’s much better than just down. Hansen was able to erase around $1 million of his lifetime deficit on the software, but gave some of that upswing money back recently. He’s back to being down around $16.1 million over his career on the Full Tilt software, which is the most ever.
In other news, Ben “Bttech86” Tollerene opted out of having his long-term results tracked, HighstakesDB said. Tollerene could very well be the biggest winner across all sites so far this year. Other high-stakes pros have opted out before, including Niklas “ragen70” Heinecker.
As a result, any sort of look at the overall winners and losers for the year is increasingly becoming more and more obsolete, unfortunately. The poker community might implode if Blom ever decides to stop having his results tracked.
Blom’s recent profits came at pot-limit Omaha and limit deuce-to-seven triple draw.
Card Player recently interviewed Dan Cates about Blom, after the two had a really heated exchange earlier this month. Cates called Blom a “scumbag.”
Cates is up more than $1 million as well in 2014.
High-Stakes Online Poker: Viktor Blom Back To $1 Million In Profits On The Year
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2006/12/07
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Two coalitions have introduced rival bills in the California Legislature marking a third year of debate among state lawmakers over how to license and regulate on-line poker.
Previous Internet gaming legislation stalled when stakeholders could not reach consensus on the scope of games, which entities would be permitted to apply for licenses, or how licensees and subcontractors would be vetted for suitability. Also at issue in the dueling bills is the extent to which the State will attempt to impose burdens on tribal sovereign immunity in connection with any online gaming activities.
Although some differences remain, there is a sense amongst observers of the legislature that there is an emerging consensus among some stakeholders that could allow a bill to move forward. Additionally, a change in the chairmanship of one of the key legislative committees that controls gaming-related bills brings a more favorable dynamic to the discussions. The new Chair of the Senate Governmental Organization Committee, Senator Lou Correa (D-Santa Ana), is the author of one of the new bills (SB 1366) and has displayed willingness to understand and accommodate stakeholder concerns.
The Correa bill is backed by a coalition including the San Manuel Band of Serrano Mission Indians, the United Auburn Community, and the Rincon Band of Luiseño Indians, among others. The other bill (AB 2291) was introduced by Assemblymember Reggie Jones-Sawyer (D-Los Angeles), a relative newcomer to on-line gaming. AB 2291, has the support of the Pechanga Band of Luiseño Indians, the Agua Caliente Band of Cahuila Indians, and the Yocha Dehe Wintun Nation, as well as others.
Both bills legalize on-line poker only, and require that all players be physically located within the state boundaries. Both bills limit operator licensing to: (i) federally-recognized California tribes that have conducted on-premises casino gaming under the Indian Gaming Regulatory Act (IGRA) for a minimum period of time or (ii) licensed card rooms that are in good standing with the California Gambling Control Commission. Both bills provide for expedited background checks for license applicants that currently operate tribal casinos or card rooms. Both bills also exclude racetracks and advance deposit wagering providers that were included as potential licensees in previous legislation.
Significant differences between the two bills include license application procedures, eligibility and suitability requirements for licensees and subcontractors, permitted methods for presenting poker games to players, the number of websites or online gaming portals each licensee may operate, and whether the state could opt-in to any future federal framework for regulating Internet gambling.
The two bills take different approaches to the ability of licensed operators to contract with game technology, marketing, or service providers that accepted on-line wagers from players in the U.S. after December 31, 2006, the date the Unlawful Internet Gambling Enforcement Act (UIGEA) became effective. As gaming purveyors have begun to partner with providers of on-line gaming technology and marketing services, those partnerships and service arrangements have also given rise to some controversy about what sorts of entities might be excluded from participation in on-line gaming under California law has become one of the most contentious unresolved issues.
The Correa measure requires a finding of unsuitability for persons or entities that knowingly and willfully accepted a bet on any form of Internet gambling not affirmatively authorized by U.S. law, or for persons or entities that held a direct or indirect financial interest in a person or entity accepting the bet. The Correa bill further prohibits a licensee from entering into an agreement with a third party for marketing purposes that utilizes any brand or business name, trademark, software, or technology of persons or entities that knowingly and willfully accepted bets on any form of Internet gambling from persons located in the U.S. after December 31, 2006. However, the Correa bill also permits the California Gambling Control Commission to grant waivers where the person or entity demonstrates by clear and convincing evidence that it did not act in an unlawful manner.
Conversely, the Jones-Sawyer bill requires a finding of unsuitability, with no possibility of waiver, for persons or entities that accepted a wager from any person in California on any form of Internet gaming prior to an unspecified date. However, his bill does not prohibit a licensed operator from utilizing the brands, technology, or customer lists of persons or entities that would automatically be deemed unsuitable.
It is likely that both bills will be significantly amended as they work their way through the legislative process. The current legislative session is scheduled to end on August 31st and Governor Jerry Brown will have until September 30th to act on any bills reaching his desk.
With an estimated one million poker players residing within its boundaries, the Golden State would become by far the single largest Internet gaming market in the U.S. with gross poker wagers likely exceeding one billion dollars and generating potential state revenues of $250 to $400 million annually.
California poised to pass on-line poker legislation - Lexology
Previous Internet gaming legislation stalled when stakeholders could not reach consensus on the scope of games, which entities would be permitted to apply for licenses, or how licensees and subcontractors would be vetted for suitability. Also at issue in the dueling bills is the extent to which the State will attempt to impose burdens on tribal sovereign immunity in connection with any online gaming activities.
Although some differences remain, there is a sense amongst observers of the legislature that there is an emerging consensus among some stakeholders that could allow a bill to move forward. Additionally, a change in the chairmanship of one of the key legislative committees that controls gaming-related bills brings a more favorable dynamic to the discussions. The new Chair of the Senate Governmental Organization Committee, Senator Lou Correa (D-Santa Ana), is the author of one of the new bills (SB 1366) and has displayed willingness to understand and accommodate stakeholder concerns.
The Correa bill is backed by a coalition including the San Manuel Band of Serrano Mission Indians, the United Auburn Community, and the Rincon Band of Luiseño Indians, among others. The other bill (AB 2291) was introduced by Assemblymember Reggie Jones-Sawyer (D-Los Angeles), a relative newcomer to on-line gaming. AB 2291, has the support of the Pechanga Band of Luiseño Indians, the Agua Caliente Band of Cahuila Indians, and the Yocha Dehe Wintun Nation, as well as others.
Both bills legalize on-line poker only, and require that all players be physically located within the state boundaries. Both bills limit operator licensing to: (i) federally-recognized California tribes that have conducted on-premises casino gaming under the Indian Gaming Regulatory Act (IGRA) for a minimum period of time or (ii) licensed card rooms that are in good standing with the California Gambling Control Commission. Both bills provide for expedited background checks for license applicants that currently operate tribal casinos or card rooms. Both bills also exclude racetracks and advance deposit wagering providers that were included as potential licensees in previous legislation.
Significant differences between the two bills include license application procedures, eligibility and suitability requirements for licensees and subcontractors, permitted methods for presenting poker games to players, the number of websites or online gaming portals each licensee may operate, and whether the state could opt-in to any future federal framework for regulating Internet gambling.
The two bills take different approaches to the ability of licensed operators to contract with game technology, marketing, or service providers that accepted on-line wagers from players in the U.S. after December 31, 2006, the date the Unlawful Internet Gambling Enforcement Act (UIGEA) became effective. As gaming purveyors have begun to partner with providers of on-line gaming technology and marketing services, those partnerships and service arrangements have also given rise to some controversy about what sorts of entities might be excluded from participation in on-line gaming under California law has become one of the most contentious unresolved issues.
The Correa measure requires a finding of unsuitability for persons or entities that knowingly and willfully accepted a bet on any form of Internet gambling not affirmatively authorized by U.S. law, or for persons or entities that held a direct or indirect financial interest in a person or entity accepting the bet. The Correa bill further prohibits a licensee from entering into an agreement with a third party for marketing purposes that utilizes any brand or business name, trademark, software, or technology of persons or entities that knowingly and willfully accepted bets on any form of Internet gambling from persons located in the U.S. after December 31, 2006. However, the Correa bill also permits the California Gambling Control Commission to grant waivers where the person or entity demonstrates by clear and convincing evidence that it did not act in an unlawful manner.
Conversely, the Jones-Sawyer bill requires a finding of unsuitability, with no possibility of waiver, for persons or entities that accepted a wager from any person in California on any form of Internet gaming prior to an unspecified date. However, his bill does not prohibit a licensed operator from utilizing the brands, technology, or customer lists of persons or entities that would automatically be deemed unsuitable.
It is likely that both bills will be significantly amended as they work their way through the legislative process. The current legislative session is scheduled to end on August 31st and Governor Jerry Brown will have until September 30th to act on any bills reaching his desk.
With an estimated one million poker players residing within its boundaries, the Golden State would become by far the single largest Internet gaming market in the U.S. with gross poker wagers likely exceeding one billion dollars and generating potential state revenues of $250 to $400 million annually.
California poised to pass on-line poker legislation - Lexology
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Last year, an Illinois State bill was introduced that would have legalized online poker within the State. Despite having some early success in the State Senate, the Illinois online poker bill died on the floor of the Illinois House of Representatives following some unfavorable remarks by Illinois Governor, Pat Quinn. Since this time, no other online poker bill has been introduced within the State and therefore online poker has remained illegal in Illinois.
Recent Illinois Online Poker Lawsuit
The fact that online poker is illegal within the borders of Illinois has not stopped Illinois residents from bringing suit against online poker websites. The most recent lawsuit was brought by Kelly Sonnenberg, an Illinois resident, against PokerStars, and others, to recover money lost by her son on the online poker website. Ms. Sonnenberg sought damages under Illinois’ Loss Recovery Act (the “LRA”), which allows aggrieved parties to recover monetary damages from the winnings of other players using online poker websites. PokerStars and the other defendants moved to dismiss the case on the grounds that they were not “winners,” as defined under the LRA, and thus should not be named as defendants.
Court’s Decision
While the Court did find that Ms. Sonnenberg alleged enough facts to allege that “losses occurred in Illinois through illegal gambling Internet site[s],” the Court ultimately ruled in the defendants’ favor, finding recovery under the LRA inapplicable to online poker sites, which it defined as “third party service providers.” The Court declined to rule on PokerStars’ argument that their previous settlement with the federal government after Black Friday in 2011 precluded any further claims against them.
Takeaway and the Effect on Online Poker
As we have previously noted, there are a number of bills pending before the United States Congress that may redefine “gambling” under federal law and make the LRA and other similar state laws obsolete. The Court’s decision in Ms. Sonnenberg’s case is unlikely to affect the continuing efforts at both the federal and state level to legalize, regulate and tax online poker and other casino games.
Court dismisses Illinois online poker case - Lexology
Recent Illinois Online Poker Lawsuit
The fact that online poker is illegal within the borders of Illinois has not stopped Illinois residents from bringing suit against online poker websites. The most recent lawsuit was brought by Kelly Sonnenberg, an Illinois resident, against PokerStars, and others, to recover money lost by her son on the online poker website. Ms. Sonnenberg sought damages under Illinois’ Loss Recovery Act (the “LRA”), which allows aggrieved parties to recover monetary damages from the winnings of other players using online poker websites. PokerStars and the other defendants moved to dismiss the case on the grounds that they were not “winners,” as defined under the LRA, and thus should not be named as defendants.
Court’s Decision
While the Court did find that Ms. Sonnenberg alleged enough facts to allege that “losses occurred in Illinois through illegal gambling Internet site[s],” the Court ultimately ruled in the defendants’ favor, finding recovery under the LRA inapplicable to online poker sites, which it defined as “third party service providers.” The Court declined to rule on PokerStars’ argument that their previous settlement with the federal government after Black Friday in 2011 precluded any further claims against them.
Takeaway and the Effect on Online Poker
As we have previously noted, there are a number of bills pending before the United States Congress that may redefine “gambling” under federal law and make the LRA and other similar state laws obsolete. The Court’s decision in Ms. Sonnenberg’s case is unlikely to affect the continuing efforts at both the federal and state level to legalize, regulate and tax online poker and other casino games.
Court dismisses Illinois online poker case - Lexology
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Sheldon Adelson has been earning himself a lot of ink with his relatively new Coalition to Stop Internet Gambling.
But will his mission to wipe regulated online betting from the face of the United States succeed?
Here’s a look at 8 things that could happen if it does.
#8) Laundering money online will become easier
Pretty much anyone can sign up at one of the unregulated online poker sites currently operating in the US. These sites don’t require any form of ID or a social security number, and they don’t run player verification or geolocation checks.
For a more in-depth look at the signup process at regulated and unregulated online poker rooms you can read this article.
Now, let me ask you what should be a very simple question: if you were going to launder money which would you prefer, the site that forces you to identify yourself or the site on which you can simply pretend to be anyone you want?
#7) Minors will have unabated access to online gambling sites
And if you think laundering money would be easy in a completely unregulated industry, just think about how easy it would be for a minor to sign up at an online poker site that doesn’t require any type of age verification beyond clicking a box that says you are over 21!
#6) Problem gamblers will be at the mercy of “predators”
One of the highfalutin talking points Sheldon Adelson and his CSIG group like to throw around is “predatory gambling,” a term that is little more than what the late great George Carlin would call, “OOOH, spooky language!”
Apparently Adelson and his cronies feel the best way to protect problem gamblers is to leave them to their own devices, and not let them play at regulated sites that are required to report problem gambling behaviors. Oh, and did I mention that a specific percentage of the revenue generated from New Jersey’s licensed online gambling sites goes directly to problem gambling initiatives? Well it does.
“The governor recommended extending existing prohibitions on casino-related employment for state workers and others with conflicts of interest, increasing funds for programs that treat compulsive gambling, and requiring elected state officials to disclose current and former connections to companies seeking online gaming licenses.”
If Adelson considers the regulated and licensed online poker rooms to be predators, like a puma or leopard, then unregulated sites are like velociraptors and tyrannosaurs.
#5) Online poker players will continue to get ripped off by shady providers
With no legitimate regulation in place, and no one to hold providers accountable, players will remain at the mercy of offshore sites that have already done a wonderful job of screwing us over on multiple occasions.
Without real regulations and oversight in place you can pretty much guarantee that the poker world will deal with another Ultimate Bet, Absolute Poker, Full Tilt Poker, or any of the other smaller sites that have run off with our money or are in the process of doing so.
The bottom line is this: if Sheldon Adelson gets his way you can say goodbye to consumer protections and holding the providers accountable.
#4) Poker will cease to exist as we know it
Poker in the US – and the thousands of jobs and millions in economic activity that it generates – will enter a very dark time that will put the aftermath of UIGEA and Black Friday to shame.
#3) The US economy will lose out on high-value, high-paying jobs
It may not be enough to have an impact on the unemployment rate, but online poker sites are creating more jobs than you think.
Not only does the industry require IT and software people, marketing, advertising and salespeople, but think about all of the ancillary jobs for web developers, bloggers/writers (like yours truly), and affiliates that are also seeing new streams of revenue thanks to the newly regulated markets.
Furthermore, as John Mehaffey of USPoker-com mentioned recently, a well-written federal bill could easily demand all customer service and other jobs be filled by US residents rather than be outsourced overseas.
Succinctly put, if Sheldon Adelson gets his way the US economy loses jobs.
#2) The US economy will lose revenue
Licensing fees, tax revenue, taxes gleaned from the new jobs created (see above), additional economic stimulus as online poker providers hire outside vendors and liberally spend on marketing and advertising… POOF!
All gone, just like that if a federal ban on online gambling is passed.
Additionally, valuable resources will be spent prosecuting black market online gambling providers instead of just letting them wither and die on the vine as players switch to licensed providers.
#1) Sheldon Adelson will still be a very rich man
At the end of the day, when millions of dollars have been wasted on this fight, Sheldon Adelson, win or lose, will still be one of the richest men in the world.
Perhaps the old adage of, “he has more money than he could ever spend” is literally true in Adelson’s case.
Perhaps this fight, and his other recent exploits of setting money on fire, are just Adelson’s way of buying the latest infomercial product?
Now that I think about it, Adelson’s proposed $100 million spending spree on a hopeless effort to stop online gambling is like that time I bought that little stick that was supposed to eliminate clothing stains – it did work, but it also eliminated any color it came into contact with and I had to throw away my prized polo sweater which is about as traumatic an experience as a high school kid could suffer.
What if Sheldon Adelson Wins His Fight Against Online Gambling?
But will his mission to wipe regulated online betting from the face of the United States succeed?
Here’s a look at 8 things that could happen if it does.
#8) Laundering money online will become easier
Pretty much anyone can sign up at one of the unregulated online poker sites currently operating in the US. These sites don’t require any form of ID or a social security number, and they don’t run player verification or geolocation checks.
For a more in-depth look at the signup process at regulated and unregulated online poker rooms you can read this article.
Now, let me ask you what should be a very simple question: if you were going to launder money which would you prefer, the site that forces you to identify yourself or the site on which you can simply pretend to be anyone you want?
#7) Minors will have unabated access to online gambling sites
And if you think laundering money would be easy in a completely unregulated industry, just think about how easy it would be for a minor to sign up at an online poker site that doesn’t require any type of age verification beyond clicking a box that says you are over 21!
#6) Problem gamblers will be at the mercy of “predators”
One of the highfalutin talking points Sheldon Adelson and his CSIG group like to throw around is “predatory gambling,” a term that is little more than what the late great George Carlin would call, “OOOH, spooky language!”
Apparently Adelson and his cronies feel the best way to protect problem gamblers is to leave them to their own devices, and not let them play at regulated sites that are required to report problem gambling behaviors. Oh, and did I mention that a specific percentage of the revenue generated from New Jersey’s licensed online gambling sites goes directly to problem gambling initiatives? Well it does.
“The governor recommended extending existing prohibitions on casino-related employment for state workers and others with conflicts of interest, increasing funds for programs that treat compulsive gambling, and requiring elected state officials to disclose current and former connections to companies seeking online gaming licenses.”
If Adelson considers the regulated and licensed online poker rooms to be predators, like a puma or leopard, then unregulated sites are like velociraptors and tyrannosaurs.
#5) Online poker players will continue to get ripped off by shady providers
With no legitimate regulation in place, and no one to hold providers accountable, players will remain at the mercy of offshore sites that have already done a wonderful job of screwing us over on multiple occasions.
Without real regulations and oversight in place you can pretty much guarantee that the poker world will deal with another Ultimate Bet, Absolute Poker, Full Tilt Poker, or any of the other smaller sites that have run off with our money or are in the process of doing so.
The bottom line is this: if Sheldon Adelson gets his way you can say goodbye to consumer protections and holding the providers accountable.
#4) Poker will cease to exist as we know it
Poker in the US – and the thousands of jobs and millions in economic activity that it generates – will enter a very dark time that will put the aftermath of UIGEA and Black Friday to shame.
#3) The US economy will lose out on high-value, high-paying jobs
It may not be enough to have an impact on the unemployment rate, but online poker sites are creating more jobs than you think.
Not only does the industry require IT and software people, marketing, advertising and salespeople, but think about all of the ancillary jobs for web developers, bloggers/writers (like yours truly), and affiliates that are also seeing new streams of revenue thanks to the newly regulated markets.
Furthermore, as John Mehaffey of USPoker-com mentioned recently, a well-written federal bill could easily demand all customer service and other jobs be filled by US residents rather than be outsourced overseas.
Succinctly put, if Sheldon Adelson gets his way the US economy loses jobs.
#2) The US economy will lose revenue
Licensing fees, tax revenue, taxes gleaned from the new jobs created (see above), additional economic stimulus as online poker providers hire outside vendors and liberally spend on marketing and advertising… POOF!
All gone, just like that if a federal ban on online gambling is passed.
Additionally, valuable resources will be spent prosecuting black market online gambling providers instead of just letting them wither and die on the vine as players switch to licensed providers.
#1) Sheldon Adelson will still be a very rich man
At the end of the day, when millions of dollars have been wasted on this fight, Sheldon Adelson, win or lose, will still be one of the richest men in the world.
Perhaps the old adage of, “he has more money than he could ever spend” is literally true in Adelson’s case.
Perhaps this fight, and his other recent exploits of setting money on fire, are just Adelson’s way of buying the latest infomercial product?
Now that I think about it, Adelson’s proposed $100 million spending spree on a hopeless effort to stop online gambling is like that time I bought that little stick that was supposed to eliminate clothing stains – it did work, but it also eliminated any color it came into contact with and I had to throw away my prized polo sweater which is about as traumatic an experience as a high school kid could suffer.
What if Sheldon Adelson Wins His Fight Against Online Gambling?
Join:
2006/12/07
Messages:
29893
More online poker play has taken place on the World Series of Poker’s website in Clifton and Wayne than in any other Bergen or Passaic County towns, but a number of Bergen towns are significantly outperforming their population rankings.
Those are some of the findings based on data supplied by wsop-com officials on the habits of online poker players in New Jersey since the gambling was legalized by the state in late November.
Many of the state’s largest municipalities, not surprisingly, ranked high in total minutes of online poker played, including leader Toms River (7th-largest population), Jersey City (2nd in both categories), and Cherry Hill (3rd in online minutes played, 13th in population).
But Lyndhurst managed to rank 29th in the gambling even though it is just the state’s 126th-ranked town by population. One spot back, in 30th, is Paterson, the state’s third-largest city.
Other Bergen communities where the online poker play was far ahead of the population ranking include Tenafly, Saddle Brook, Lodi and New Milford.
That list reflects the fact that online gambling seems to be occurring in both blue-collar and wealthy communities, which is what online gaming analysts have predicted.
Casino executives also say that preliminary research is showing that most of the play is not coming from regular visitors to Atlantic City — which, if it holds up, would stem fears that the new gambling is simply cannibalizing brick-and-mortar play at the expense of casino service jobs in that struggling city. Online players offer casinos a potentially lucrative database of new patrons, it is believed, who could then be targeted with discount offers to become new casino visitors as well.
Some online poker research suggests that the profile of the likely players – young, affluent urban males – might favor such cities as Hoboken, Jersey City, Secaucus and Newark because of their proximity via mass transit to Manhattan. That seems to be occurring, as Jersey City, Hoboken (fourth-most minutes played with the 34th-highest population), and Secaucus (79th and 156th) all matched or exceeded their expected rankings.
But Newark, the state’s largest city, has lagged in that respect, ranking 40th in online poker minutes.
Toms River in Ocean County, the state’s seventh-largest municipality, topped the Wsop-com rankings, which do not specify the number of minutes played per town.
The minutes-played calculations are based on logging the IP address of the computer being used to play online poker, so it’s not clear if some towns may be magnets for players from other towns. While the law signed by Governor Christie a year ago bans restaurants or bars from advertising for online gamblers to play at their establishments, friends can privately agree to meet anywhere.
Residents and non-residents alike who set up online accounts can play, but only within New Jersey because of “geolocation” tools that have in some cases incorrectly rejected players near the state’s borders.
Atlantic City’s casinos have taken in about $28 million in online gaming revenue while paying more than $4 million in online gaming taxes, at a rate of 15 percent — nearly double the rate that the casinos pay on their in-house revenues. Those figures are below expectations of most industry analysts, but a number of the casinos have delayed expanding their marketing budgets until issues of geolocation and the reluctance of many large banks and credit card companies to allow gambling deposits are resolved.
New Jersey is only the third state — after Nevada and Delaware — to authorize the gambling and only the second (after Delaware) to permit online casino gaming beyond just poker. Wsop-com is one of 15 gambling websites operating in New Jersey, but has a major share of activity.
Many European countries and others throughout the world have allowed online casino gambling for a number of years.
North Jersey has big hand in online poker betting - News - NorthJersey-com
Those are some of the findings based on data supplied by wsop-com officials on the habits of online poker players in New Jersey since the gambling was legalized by the state in late November.
Many of the state’s largest municipalities, not surprisingly, ranked high in total minutes of online poker played, including leader Toms River (7th-largest population), Jersey City (2nd in both categories), and Cherry Hill (3rd in online minutes played, 13th in population).
But Lyndhurst managed to rank 29th in the gambling even though it is just the state’s 126th-ranked town by population. One spot back, in 30th, is Paterson, the state’s third-largest city.
Other Bergen communities where the online poker play was far ahead of the population ranking include Tenafly, Saddle Brook, Lodi and New Milford.
That list reflects the fact that online gambling seems to be occurring in both blue-collar and wealthy communities, which is what online gaming analysts have predicted.
Casino executives also say that preliminary research is showing that most of the play is not coming from regular visitors to Atlantic City — which, if it holds up, would stem fears that the new gambling is simply cannibalizing brick-and-mortar play at the expense of casino service jobs in that struggling city. Online players offer casinos a potentially lucrative database of new patrons, it is believed, who could then be targeted with discount offers to become new casino visitors as well.
Some online poker research suggests that the profile of the likely players – young, affluent urban males – might favor such cities as Hoboken, Jersey City, Secaucus and Newark because of their proximity via mass transit to Manhattan. That seems to be occurring, as Jersey City, Hoboken (fourth-most minutes played with the 34th-highest population), and Secaucus (79th and 156th) all matched or exceeded their expected rankings.
But Newark, the state’s largest city, has lagged in that respect, ranking 40th in online poker minutes.
Toms River in Ocean County, the state’s seventh-largest municipality, topped the Wsop-com rankings, which do not specify the number of minutes played per town.
The minutes-played calculations are based on logging the IP address of the computer being used to play online poker, so it’s not clear if some towns may be magnets for players from other towns. While the law signed by Governor Christie a year ago bans restaurants or bars from advertising for online gamblers to play at their establishments, friends can privately agree to meet anywhere.
Residents and non-residents alike who set up online accounts can play, but only within New Jersey because of “geolocation” tools that have in some cases incorrectly rejected players near the state’s borders.
Atlantic City’s casinos have taken in about $28 million in online gaming revenue while paying more than $4 million in online gaming taxes, at a rate of 15 percent — nearly double the rate that the casinos pay on their in-house revenues. Those figures are below expectations of most industry analysts, but a number of the casinos have delayed expanding their marketing budgets until issues of geolocation and the reluctance of many large banks and credit card companies to allow gambling deposits are resolved.
New Jersey is only the third state — after Nevada and Delaware — to authorize the gambling and only the second (after Delaware) to permit online casino gaming beyond just poker. Wsop-com is one of 15 gambling websites operating in New Jersey, but has a major share of activity.
Many European countries and others throughout the world have allowed online casino gambling for a number of years.
North Jersey has big hand in online poker betting - News - NorthJersey-com
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2006/12/07
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WSOP New Jersey has confirmed that it now has a promotional relationship with the New York Rangers National Hockey League (NHL) team.
Last week the online poker room launched a promotion for their New Jersey players which offered the chance to have a “Blueshirt legend” come to their home to watch the April 12 game against Montreal.
Other prizes in the draw include tickets to Rangers’ games and autographed jerseys.
The promotion runs until April 7, and takes the form of a prize draw, with entry via tickets awarded to players who make deposits on the New Jersey site. The small print of the promotion explains that “free entry is available” by emailing WSOP-com account details to the organizers.
The promotional web page stated that the WSOP was the “official online gaming partner” of the NY Rangers. WSOP confirmed the new sponsorship to PokerNews-com on Monday.
The Philadelphia 76ers in the NBA and the New Jersey Devils in the NHL were the first US professional sports teams to enter into a multi-year marketing agreement when they signed a deal with partypoker, WSOP’s main competitor in the New Jersey market, in January.
The full details of the WSOP and NY Rangers deal have not yet been announced.
WSOP New Jersey Confirms Sports Deal with NY Rangers | Pokerfuse Online Poker News
Last week the online poker room launched a promotion for their New Jersey players which offered the chance to have a “Blueshirt legend” come to their home to watch the April 12 game against Montreal.
Other prizes in the draw include tickets to Rangers’ games and autographed jerseys.
The promotion runs until April 7, and takes the form of a prize draw, with entry via tickets awarded to players who make deposits on the New Jersey site. The small print of the promotion explains that “free entry is available” by emailing WSOP-com account details to the organizers.
The promotional web page stated that the WSOP was the “official online gaming partner” of the NY Rangers. WSOP confirmed the new sponsorship to PokerNews-com on Monday.
The Philadelphia 76ers in the NBA and the New Jersey Devils in the NHL were the first US professional sports teams to enter into a multi-year marketing agreement when they signed a deal with partypoker, WSOP’s main competitor in the New Jersey market, in January.
The full details of the WSOP and NY Rangers deal have not yet been announced.
WSOP New Jersey Confirms Sports Deal with NY Rangers | Pokerfuse Online Poker News
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Ultimate Poker parent company Station Casinos recently hosted an earnings call that offered a variety of insights into the company’s performance to date in the regulated online gambling markets of New Jersey and Nevada.
Highlights follow. OPR also transcribed the call; read the complete transcript here.
Sports beating pace but poker and casino lagging
Marc Falcone, Chief Financial Officer of Station Casinos, told a tale of two worlds when it comes to Station’s experience with regulated online gambling.
The first world: Regulated online casino and poker offerings in New Jersey and Nevada, which Falcone admitted have “gotten off to a slower than anticipated start,” although Station is “still optimistic that there is opportunity for growth.”
The second world: Regulated mobile sports betting in Nevada, which Station operates through SportsConnection. There Falcone had glowing remarks, noting that “sign-ups and revenue generated from Sports Connection during 2013 exceeded our expectations, and Sports Connection was a driving factor in achieving our strongest year of sports wins in company history.”
The four forces impeding New Jersey online gambling
Falcone drilled down into the four factors Station believes are hampering the performance of online gambling in New Jersey:
Consumer awareness: Internal research shows that “a very low percentage of the residents are even aware that online gaming is now legal in New Jersey,” Falcone claimed.
Geolocation: Falcone characterized the process as “complex,” “new” and one that Station will “continue to improve.”
Banking: Blocked transactions by credit card companies are “a meaningful impediment to delivering currency to the sites,” said Falcone.
Unregulated competition: The presence of unregulated gambling sites in NJ and NV cuts into the market, said Falcone, who argued that “there are potential players in both Nevada and New Jersey that continue to game on these illegal sites.”
Note that none of these factors are unique to Station.
Updates for Ultimate coming soon
The online gambling products at Ultimate Poker and UCasino are set to receive an upgrade, per Falcone’s comments: “Ultimate Gaming is making progress on expanding our player content, adding more feature upgrades and enhancements to our current platform, as well as adding additional platforms to enhance our customers’ playing experience.”
Falcone did not dive in to the nature of these upgrades nor address how they would be distributed between the company’s poker and casino platforms.
As far as a timeline, Falcone indicated that he expected “many of these new offerings to be available in the upcoming months,” but offered no specific delivery targets.
Nevada / Delaware agreement important as a precedent
Falcone offered general praise for the liquidity-sharing agreement between Nevada and Delaware, saying that ”the Delaware – Nevada compact is particularly important for setting a precedent in how these agreements will look and the benefits that can be achieved across multiple states, or in this case, Delaware and Nevada.”
But Falcone was less sanguine on the immediate impact of the deal.
“On the margin we think it’ll be helpful,” Falcone said in response to a question, “but I don’t think it’ll change things too much at least with Nevada and Delaware pooling liquidity. More substantial opportunity, for example, would be pooling the liquidity across Nevada and New Jersey state lines at this point.”
Station Casinos: These 4 Forces Are Dragging Down NJ Online Poker
Highlights follow. OPR also transcribed the call; read the complete transcript here.
Sports beating pace but poker and casino lagging
Marc Falcone, Chief Financial Officer of Station Casinos, told a tale of two worlds when it comes to Station’s experience with regulated online gambling.
The first world: Regulated online casino and poker offerings in New Jersey and Nevada, which Falcone admitted have “gotten off to a slower than anticipated start,” although Station is “still optimistic that there is opportunity for growth.”
The second world: Regulated mobile sports betting in Nevada, which Station operates through SportsConnection. There Falcone had glowing remarks, noting that “sign-ups and revenue generated from Sports Connection during 2013 exceeded our expectations, and Sports Connection was a driving factor in achieving our strongest year of sports wins in company history.”
The four forces impeding New Jersey online gambling
Falcone drilled down into the four factors Station believes are hampering the performance of online gambling in New Jersey:
Consumer awareness: Internal research shows that “a very low percentage of the residents are even aware that online gaming is now legal in New Jersey,” Falcone claimed.
Geolocation: Falcone characterized the process as “complex,” “new” and one that Station will “continue to improve.”
Banking: Blocked transactions by credit card companies are “a meaningful impediment to delivering currency to the sites,” said Falcone.
Unregulated competition: The presence of unregulated gambling sites in NJ and NV cuts into the market, said Falcone, who argued that “there are potential players in both Nevada and New Jersey that continue to game on these illegal sites.”
Note that none of these factors are unique to Station.
Updates for Ultimate coming soon
The online gambling products at Ultimate Poker and UCasino are set to receive an upgrade, per Falcone’s comments: “Ultimate Gaming is making progress on expanding our player content, adding more feature upgrades and enhancements to our current platform, as well as adding additional platforms to enhance our customers’ playing experience.”
Falcone did not dive in to the nature of these upgrades nor address how they would be distributed between the company’s poker and casino platforms.
As far as a timeline, Falcone indicated that he expected “many of these new offerings to be available in the upcoming months,” but offered no specific delivery targets.
Nevada / Delaware agreement important as a precedent
Falcone offered general praise for the liquidity-sharing agreement between Nevada and Delaware, saying that ”the Delaware – Nevada compact is particularly important for setting a precedent in how these agreements will look and the benefits that can be achieved across multiple states, or in this case, Delaware and Nevada.”
But Falcone was less sanguine on the immediate impact of the deal.
“On the margin we think it’ll be helpful,” Falcone said in response to a question, “but I don’t think it’ll change things too much at least with Nevada and Delaware pooling liquidity. More substantial opportunity, for example, would be pooling the liquidity across Nevada and New Jersey state lines at this point.”
Station Casinos: These 4 Forces Are Dragging Down NJ Online Poker
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For most in the poker community Lock Poker’s time is officially up.
Lock Poker has always had its naysayers, but in the past year the site has devolved from just another occasionally maligned online poker room to being nearly unanimously condemned by the entire poker community.
With withdrawal times that stretch back over a year in some cases, and with a list of players owed in the neighborhood of $1 million, the once-prominent and always controversial US-facing online poker room has officially gone off the rails.
Now the poker world is looking for answers. I recently had the chance to speak with someone who has some of these answers, a former Lock Poker Pro who wished to remain nameless.
Pulling back the curtain
“Lock wasn’t always a nightmare,” said the anonymous pro.
I was told the company wasn’t always bad, or at least didn’t appear to be from the point of view of someone on the inside.
“Even when Lock was having speedy cashouts and was a growing site they had a ton of negative PR on 2+2 and via word of mouth, which was ridiculous,” my source explained.
This heavy criticism, which the company and its pros viewed as unwarranted, had an unintended consequence as it “caused a lot of the staff and the pros to not give a shit what people were saying on 2+2,” the former Lock Pro told me.
This outspokenness and speculation allowed Lock Poker to dispel any worries about cashouts as some of the other rumors were simply not true and the staff and pros knew it.
“Lock was always communicating to start with. They were always telling the pros that player funds were segregated and that they were processing many cashouts,” the source said.
And on the occasions Lock was asked for more details – and I was told some of the pros were pressing Lock Poker about this issue – Lock Poker explained that it would use the mistrust of the forums to their advantage, telling their more skeptical pros, “The forums were the minority and they were constantly processing cashouts.”
A sea of red flags
“A few months into 2013 I starting really suspecting something was up,” said the former Lock Pro.
The forums may have gotten some of the small things wrong, but Lock’s critics also had a lot of the big things right, especially the biggest issue – cashouts and the safety of player funds at Lock Poker.
At various points in 2013 even the pros that were the most mistrustful of the forums began to worry that all was not as they had been told.
According to my source:
“I think New Years of 2013 is when I heard that cashouts were slowing down, and then about a few months into 2013 I started really suspecting something was up.
Some of the pros were skeptical to begin with. Almost everyone was skeptical towards the middle of the year.
I thought that Lock was going to pay out all their players but it would just take a long time. I always believed that Lock funds were safe. Lock Pros were always told that the funds were segregated and that the company only had problems cashing out players.
Inevitably it just ended up being a PR scheme to the pros as well.”
Expedited Cashouts
“If a pro got a check or Skrill withdrawal every two months, how would they really know it was being expedited?” the onetime Lock Pro asked.
One of the hot topics on 2+2 concerning Lock Poker after it became apparent the site was unable to pay its players was whether sponsored pros and other high priority individuals were receiving expedited cashouts, something some of the pros who were willing to post on 2+2 scoffed at.
But it turns out this was likely a service many of them were either knowingly or unknowingly receiving.
“Pros were expedited cashouts. Even if they didn’t realize it, they were. A lot of them didn’t know they were being expedited because they didn’t follow 2+2,” the Lock Pro stated, further explaining, “If a pro got a check or Skrill withdrawal every two months – which seems very slow – how would they really know it was being expedited?”
Were people driving down the price of Lock funds?
“The only reason the price was dropping so fast was because Lock was taking forever to pay out,” my source told me.
Another kerfuffle that arose during this time, and one of Lock’s go-to excuses for closing several high-profile accounts and changing their cashout policy, was whether people were taking advantage of their expedited cashout status and buying up Lock funds on the cheap, in the process further driving down the price.
“By this time (early to mid 2013) 2+2 knew for certain the site was broke…with no real proof of course, and Lock was still selling at about 80 cents on the dollar which means that some people were getting hefty cashouts, otherwise it would have been much lower,” the former Lock Pro explained.
The Pro went on to say, “I heard of one non-pro getting biweekly Skrill withdrawals for $10k. He would purposely drive the price down on 2+2 and buy as much as he could on the site, then he would rake $20k or more per month to keep getting the expedited cashouts. He was making $20k a month just by working the system.”
So how does one drive down the price of Lock funds?
“Someone who wants to drive the price down just has to be very active on 2+2. There are many ways to do it.
They can fake long withdrawal times. They can start rumors that Lock had all of its funds seized from foreign banks or frozen from processors being shut down. They can also just keep posting that they are buying funds at .05 lower than market rate, that almost always will drive the funds down.
Ultimately though the only reason the price was dropping so fast was because Lock was taking forever to pay out.
Many poker players don’t have money and they relied on getting funds off just to live. If someone has bills to pay and has 50k on Lock they will sell at .05 lower just to get their money off.”
So while certain people may have been artificially driv
Lock Poker has always had its naysayers, but in the past year the site has devolved from just another occasionally maligned online poker room to being nearly unanimously condemned by the entire poker community.
With withdrawal times that stretch back over a year in some cases, and with a list of players owed in the neighborhood of $1 million, the once-prominent and always controversial US-facing online poker room has officially gone off the rails.
Now the poker world is looking for answers. I recently had the chance to speak with someone who has some of these answers, a former Lock Poker Pro who wished to remain nameless.
Pulling back the curtain
“Lock wasn’t always a nightmare,” said the anonymous pro.
I was told the company wasn’t always bad, or at least didn’t appear to be from the point of view of someone on the inside.
“Even when Lock was having speedy cashouts and was a growing site they had a ton of negative PR on 2+2 and via word of mouth, which was ridiculous,” my source explained.
This heavy criticism, which the company and its pros viewed as unwarranted, had an unintended consequence as it “caused a lot of the staff and the pros to not give a shit what people were saying on 2+2,” the former Lock Pro told me.
This outspokenness and speculation allowed Lock Poker to dispel any worries about cashouts as some of the other rumors were simply not true and the staff and pros knew it.
“Lock was always communicating to start with. They were always telling the pros that player funds were segregated and that they were processing many cashouts,” the source said.
And on the occasions Lock was asked for more details – and I was told some of the pros were pressing Lock Poker about this issue – Lock Poker explained that it would use the mistrust of the forums to their advantage, telling their more skeptical pros, “The forums were the minority and they were constantly processing cashouts.”
A sea of red flags
“A few months into 2013 I starting really suspecting something was up,” said the former Lock Pro.
The forums may have gotten some of the small things wrong, but Lock’s critics also had a lot of the big things right, especially the biggest issue – cashouts and the safety of player funds at Lock Poker.
At various points in 2013 even the pros that were the most mistrustful of the forums began to worry that all was not as they had been told.
According to my source:
“I think New Years of 2013 is when I heard that cashouts were slowing down, and then about a few months into 2013 I started really suspecting something was up.
Some of the pros were skeptical to begin with. Almost everyone was skeptical towards the middle of the year.
I thought that Lock was going to pay out all their players but it would just take a long time. I always believed that Lock funds were safe. Lock Pros were always told that the funds were segregated and that the company only had problems cashing out players.
Inevitably it just ended up being a PR scheme to the pros as well.”
Expedited Cashouts
“If a pro got a check or Skrill withdrawal every two months, how would they really know it was being expedited?” the onetime Lock Pro asked.
One of the hot topics on 2+2 concerning Lock Poker after it became apparent the site was unable to pay its players was whether sponsored pros and other high priority individuals were receiving expedited cashouts, something some of the pros who were willing to post on 2+2 scoffed at.
But it turns out this was likely a service many of them were either knowingly or unknowingly receiving.
“Pros were expedited cashouts. Even if they didn’t realize it, they were. A lot of them didn’t know they were being expedited because they didn’t follow 2+2,” the Lock Pro stated, further explaining, “If a pro got a check or Skrill withdrawal every two months – which seems very slow – how would they really know it was being expedited?”
Were people driving down the price of Lock funds?
“The only reason the price was dropping so fast was because Lock was taking forever to pay out,” my source told me.
Another kerfuffle that arose during this time, and one of Lock’s go-to excuses for closing several high-profile accounts and changing their cashout policy, was whether people were taking advantage of their expedited cashout status and buying up Lock funds on the cheap, in the process further driving down the price.
“By this time (early to mid 2013) 2+2 knew for certain the site was broke…with no real proof of course, and Lock was still selling at about 80 cents on the dollar which means that some people were getting hefty cashouts, otherwise it would have been much lower,” the former Lock Pro explained.
The Pro went on to say, “I heard of one non-pro getting biweekly Skrill withdrawals for $10k. He would purposely drive the price down on 2+2 and buy as much as he could on the site, then he would rake $20k or more per month to keep getting the expedited cashouts. He was making $20k a month just by working the system.”
So how does one drive down the price of Lock funds?
“Someone who wants to drive the price down just has to be very active on 2+2. There are many ways to do it.
They can fake long withdrawal times. They can start rumors that Lock had all of its funds seized from foreign banks or frozen from processors being shut down. They can also just keep posting that they are buying funds at .05 lower than market rate, that almost always will drive the funds down.
Ultimately though the only reason the price was dropping so fast was because Lock was taking forever to pay out.
Many poker players don’t have money and they relied on getting funds off just to live. If someone has bills to pay and has 50k on Lock they will sell at .05 lower just to get their money off.”
So while certain people may have been artificially driv
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2006/12/07
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29893
Online poker traffic in all three regulated US markets – New Jersey, Nevada and Delaware – is on a slow but steady decline driven by seasonal, industry and consumer factors.
What’s behind the decline?
General factors
One of the primary forces at work in all three markets is the weather. As PokerScout noted, “Spring has sprung, and unfortunately that means traffic is heading lower. Activity levels should decline slowly until early-mid April, at which point a steep descent begins.”
Payment processing and geolocation difficulties continue to hamper the market at large, although both likely have a more severe effect on New Jersey than Delaware and Nevada.
Finally, unregulated sites in all three states continue to siphon some level of traffic from regulated sites like Ultimate Poker and WSOP-com.
New Jersey
In addition to those general factors, New Jersey is faced with a few unique pressures:
The first is that the novelty factor of regulated online gambling – and the mainstream press attention that comes with it – is rapidly fading.
The second is that major casinos like the Borgata and Caesars have publicly indicated that they’re holding back on marketing to their full player databases until technical and payment issues are sorted out.
That feeds into the third problem, which is the lack of a concerted, coordinated effort to educate New Jersey residents about regulated online gambling.
Nevada
Nevada is bumping up against the realities of its limited population and will need a major event – like interstate liquidity agreements or the entrance of a major casino willing to aggressively market the product – to stimulate any sort of growth.
Nevada’s recent dip may have been exacerbated by the NCAA tournament, which draws thousands to the books on the Strip (and away from their computers).
Delaware
Delaware’s decline is likewise a function of its limited population.
But Delaware’s racinos have also been disinclined to promote online gambling due to the state’s unique tax structure, which reserves the first $3.75mm in annual revenue for the government’s coffers.
Mitigating factors on the horizon
While all of the above works against the growth of regulated online poker, there are a number of factors on the horizon which could serve to counterbalance the declining traffic trend:
The NJCOP / Borgata Spring Open could stimulate interest in New Jersey online poker.
The World Series of Poker could have a similar effect in Nevada (and, to a lesser degree, in New Jersey).
The liquidity-sharing agreement between Delaware and Nevada will provide a material boost to traffic in both states.
VISA acceptance in New Jersey should increase with the entrance of Neteller. Other alternative payment methods may also begin to gain traction.
Geolocation should improve as the technology matures and operators and regulators acquire a greater body of relevant data.
CHART - Regulated Online Poker Sites See Traffic Dip as Spring Enters
What’s behind the decline?
General factors
One of the primary forces at work in all three markets is the weather. As PokerScout noted, “Spring has sprung, and unfortunately that means traffic is heading lower. Activity levels should decline slowly until early-mid April, at which point a steep descent begins.”
Payment processing and geolocation difficulties continue to hamper the market at large, although both likely have a more severe effect on New Jersey than Delaware and Nevada.
Finally, unregulated sites in all three states continue to siphon some level of traffic from regulated sites like Ultimate Poker and WSOP-com.
New Jersey
In addition to those general factors, New Jersey is faced with a few unique pressures:
The first is that the novelty factor of regulated online gambling – and the mainstream press attention that comes with it – is rapidly fading.
The second is that major casinos like the Borgata and Caesars have publicly indicated that they’re holding back on marketing to their full player databases until technical and payment issues are sorted out.
That feeds into the third problem, which is the lack of a concerted, coordinated effort to educate New Jersey residents about regulated online gambling.
Nevada
Nevada is bumping up against the realities of its limited population and will need a major event – like interstate liquidity agreements or the entrance of a major casino willing to aggressively market the product – to stimulate any sort of growth.
Nevada’s recent dip may have been exacerbated by the NCAA tournament, which draws thousands to the books on the Strip (and away from their computers).
Delaware
Delaware’s decline is likewise a function of its limited population.
But Delaware’s racinos have also been disinclined to promote online gambling due to the state’s unique tax structure, which reserves the first $3.75mm in annual revenue for the government’s coffers.
Mitigating factors on the horizon
While all of the above works against the growth of regulated online poker, there are a number of factors on the horizon which could serve to counterbalance the declining traffic trend:
The NJCOP / Borgata Spring Open could stimulate interest in New Jersey online poker.
The World Series of Poker could have a similar effect in Nevada (and, to a lesser degree, in New Jersey).
The liquidity-sharing agreement between Delaware and Nevada will provide a material boost to traffic in both states.
VISA acceptance in New Jersey should increase with the entrance of Neteller. Other alternative payment methods may also begin to gain traction.
Geolocation should improve as the technology matures and operators and regulators acquire a greater body of relevant data.
CHART - Regulated Online Poker Sites See Traffic Dip as Spring Enters
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2006/12/07
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29893
Daniel Solomou of Jackpot247 has posted a reaction to the way regulated poker markets drive out unlicensed US online poker rooms on SourceWire. Jackpot247, an expert on online casino gaming, has observed that the trend of regulated US markets driving away online poker rooms operating without a license is being repeatedly reported.
Now that three US states—Nevada, Delaware, and New Jersey—have legalized and regulated online poker, more and more residents are leaving unlicensed online poker rooms in favor of online poker sites licensed in their states. Quite obviously, residents prefer licensed online poker sites to unlicensed ones, and owing to this preference, unlicensed online poker sites are finding it difficult to compete with the licensed ones. In fact, unlicensed online poker rooms are in serious trouble as more and more US states are planning to legalize online poker in the near future.
Several factors are responsible for the losing popularity of unlicensed online poker sites in the US. Online poker players in the US have shown a marked preference for licensed online poker sites to illegal ones as the licensed sites are safer and provider a better player experience. Although unlicensed online poker sites have larger player pools, US players do not consider this reason enough to stay back. As a result, unlicensed poker rooms are contemplating leaving the market while licensed poker rooms are gaining more and more players.
Appreciating this trend, a spokesperson for Jackpot247 said: “The news that players across the US are opting for legalized online poker rooms and other gambling sites over illegal outlets where they can is incredibly encouraging, and strongly indicates a bright long-term future for the industry in the US. Though there are currently only a small number of regulated markets in the country, unlike the UK which has country-wide legalization for online gambling sites, this trend for players to abandon less secure platforms demonstrate that, once more states make the move towards regulation, unlicensed sites could eventually become a thing of the past.”
Jackpot247 is a designer and operator of live roulette games on Sky Channel 86 and ITV. The company makes use of certified casino equipment and offers a wide range of casino games, including live poker, blackjack, arcade games, and others. Slots released by Jackpot247 are available online as well as on mobile devices. The company gives top priority to responsible gaming and supplies games that adhere to the best industry standards.
Jackpot247 Appreciates US Players
Now that three US states—Nevada, Delaware, and New Jersey—have legalized and regulated online poker, more and more residents are leaving unlicensed online poker rooms in favor of online poker sites licensed in their states. Quite obviously, residents prefer licensed online poker sites to unlicensed ones, and owing to this preference, unlicensed online poker sites are finding it difficult to compete with the licensed ones. In fact, unlicensed online poker rooms are in serious trouble as more and more US states are planning to legalize online poker in the near future.
Several factors are responsible for the losing popularity of unlicensed online poker sites in the US. Online poker players in the US have shown a marked preference for licensed online poker sites to illegal ones as the licensed sites are safer and provider a better player experience. Although unlicensed online poker sites have larger player pools, US players do not consider this reason enough to stay back. As a result, unlicensed poker rooms are contemplating leaving the market while licensed poker rooms are gaining more and more players.
Appreciating this trend, a spokesperson for Jackpot247 said: “The news that players across the US are opting for legalized online poker rooms and other gambling sites over illegal outlets where they can is incredibly encouraging, and strongly indicates a bright long-term future for the industry in the US. Though there are currently only a small number of regulated markets in the country, unlike the UK which has country-wide legalization for online gambling sites, this trend for players to abandon less secure platforms demonstrate that, once more states make the move towards regulation, unlicensed sites could eventually become a thing of the past.”
Jackpot247 is a designer and operator of live roulette games on Sky Channel 86 and ITV. The company makes use of certified casino equipment and offers a wide range of casino games, including live poker, blackjack, arcade games, and others. Slots released by Jackpot247 are available online as well as on mobile devices. The company gives top priority to responsible gaming and supplies games that adhere to the best industry standards.
Jackpot247 Appreciates US Players
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“It was kind of the de facto path for Long Island kids who studied business,” recalled Carlson, 36, who had a couple of promising Wall Street interviews that led to nothing after the 9/11 terrorist attacks, the subsequent recession and the loss of thousands of Wall Street jobs.
After a few years as a waiter, Carlson was hired as a deskbound junior equity analyst for Reuters in 2004. He was bored. He started playing online poker at night, using his proficiency at math and probability to help him make $100,000-plus within six months. He quit his lower-paying day job.
“Poker is a game of skill, not of chance,” insists Carlson, who eschews other casino games because of the long odds when playing against the house. Carlson also built an online business organizing poker competitions and getting a cut for sending players to online games sponsored by various sites. Those big paydays stroked his ego, financed a pricey Manhattan flat and resulted in a booze-laden nightlife.
A decade later, Carlson is the humbler and now-sober CEO of FourCubed, a small business housed in a renovated car-painting factory in northeast Minneapolis. The company builds poker websites, attracts thousands of players, tracks them and guides them — for a fee — to licensed-gaming ******companies who also are his advertisers.
“I don’t even play poker ******anymore,” Carlson said in an interview last week. “It takes a lot of time, and now I have a business to run and build and a family.”
Carlson moved to the Twin Cities in late 2005 to undergo treatment for alcohol addiction at Hazelden. He liked the Twin Cities. He doubts that he would have survived a business setback in 2011-12 if not sober. A gradual humility, gratitude for his wife and two kids, and some financial success have replaced hangovers and the smart-guy edge. But he still has that drive and ambition.
“Chris was kind of the typical ‘ADD’ entrepreneur, six or seven years ago, chasing any ‘shiny object’ because he recognized that gambling thing could be great, but there was also great risk,’’ Jeff Redmon, a veteran business lawyer who has advised Carlson. “Chris understands that the Internet is about eyeballs. He gets people to go through his site, keeps them, and then effectively sells those folks to the poker sites that pay Chris for bringing players to them.”
According to a presentation Carlson shares with partners and potential investors, FourCubed generated operating income of nearly $160,000 on revenue of $2.7 million in 2013. He plans to add six people to his workforce of a dozen and grow revenue to about $3.2 million in 2014.
FourCubed also was a Minnesota High Technology Association innovation award finalist last fall.
Business boomed for a while
But the business is still a shadow of its former self — before what’s known in the online gambling trade as “Black Friday.’’ FourCubed soared to nearly $1 million in operating profit and $13 million in sales in 2010. Then on Friday, April 15, 2011, online poker in the United States essentially was shut down by the U.S. Department of Justice.
The department subsequently determined that the Wire Act of 1961, an anti-mob law, applied only to sports betting. Justice has left it to the states to license and regulate online poker and other games.
Carlson was not used to contraction. He sought help from small business consultant Rick Brimacomb.
“We … tightened things up, sharpened the focus and shifted the product mix to improve margins,’’ Brimacomb said. “The Internet will change the gaming landscape just as it has every business. Who would have imagined 10 years ago that online holiday shopping would eclipse bricks-and-mortar shopping? This is like the early days of e-commerce to the gaming industry. The opportunity is massive.”
Said Mike Bromelkamp, a veteran CPA and adviser to Carlson: “Chris has learned from the hard knocks. He’s much more focused and appreciative of the success he’s had. He is going to be successful.”
Carlson plans “to grow by seven- to tenfold over the next three to five years.” FourCubed is long-established in Delaware, Nevada and New Jersey online and casino operations. And the company is poised for California, where pending legislation would let operators of Indian casino open online-gambling operations.
Carlson, who owns more than 90 percent of FourCubed, also is trying to raise an unspecified amount of capital from individual local investors to finance that growth.
Gambling opponents say the gaming industry will use techniques perfected in online advertising and marketing to target vulnerable consumers, leading to a spike in problem gambling.
Proponents say prohibition, whether of alcohol or betting, doesn’t work.
Said Carlson, a recovering alcoholic, “I’m in a restaurant with a bar in it, and that’s fine. Gambling only addicts about 1 percent who try [it]. ... Addiction is a hard-wired thing, and if I’m addicted to gambling, I’ll find a way to gamble, either illegally or through legally, state-sponsored lotteries or charitable pulltabs.
“I don’t connect our business to perpetrating ******addiction,’’ he said. “We don’t target that 1 percent. We target entertainment for poker players.”
St. Anthony: Online poker entrepreneur is willing to take a gamble | Star Tribune