Posts Tagged ‘gamble’
Annie Duke Breaks Down Bellagio Poker Tournament Structures, UBOC 5
Poker News Daily: What have you been up to poker-wise since the conclusion of the 2010 World Series of Poker (WSOP)?
Annie Duke: Trying to slack off. My goal has to been to shirk all responsibility and I’ve been doing a pretty good job of that. The WSOP is a lot. It’s six weeks of playing every day and I am burned out from it. I still have been doing my part and went to Washington DC to testify in front of the House Financial Services Committee. I’ve been spending time with my kids before school starts. I was going to hit The Bike, but it conflicted with UBOC, which I wanted to play a lot of.
PND: You told us earlier that you’re not a big fan of the Bellagio’s tournament structures. Can you explain your point of view?
Annie Duke: When you can sign up on Day 2 and it’s not a bad choice, that’s not a good structure. If I show up on time, I’m playing in a structure where the average stack at the end of Day 1 is 10% higher than the starting stack. Overall, it seems like a waste of a day. If you show up on Day 2, you’re going to lose out on people who are willing to explode, so I also feel like you miss out on opportunities if you start late.
You shouldn’t have a good choice to sign up on Day 2. In the WSOP, signing up two hours late is reasonable to me. The third level in should be good relative to the starting stack. At the Bellagio, you’re signing up eight or 10 levels in. You shouldn’t be able to do that and still have a decent starting stack.
You want to have a lot of play, but at some point, you have to think about people’s play and their health. You should be getting into the money early on Day 2. The pendulum has swung so far partly because of events like the Venetian Deep Stack tournaments. Those go fast because they start you with a lot of chips, but the rest of the structure is pretty fast.
PND: The fifth Ultimate Bet Online Championship, or UBOC, recently played out on UB.com and Absolute Poker. Heading into the series, what were you looking forward to the most?
Annie Duke: I just like the variety. I feel like online it’s always No Limit Hold’em unless it’s one of these big tournament series. To figure out our UBOC schedule, we look at what’s done well in the past. We also want to preserve the integrity of the series itself. It might look like a good strategy to have all No Limit Hold’em events because they’re the most popular, but that hurts your series overall. When the Bellagio went all No Limit Hold’em, their attendance started dropping. People came in for a few tournaments here and there and then left. If you offer a big variety of games, people come in and camp out for a month to play.
It’s all about balancing what does well with what people will sign up for. The pros on UB.com definitely get asked about what they like. They have a good beat on what’s becoming popular. A year or so ago, people started pushing for Pot Limit Omaha Eight or Better and that’s a great game.
PND: Tell us about testifying in front of the House Financial Services Committee on July 20th in Washington, DC.
Annie Duke: Since the trip, HR 2267 got out of committee, which is amazing. We’re now in a situation that during the lame duck session when the spending bills are being passed, you’ll have people that know they won’t be retuning to Congress in 2011 and may not have a problem backing an online gaming bill. There’s a decent chance of the bill passing this year. I wouldn’t make it a favorite, but we have the best chance we’ve had in the last five years.
The big thing for me is overwhelming disappointment in the Commerce Casino’s position. They’ve taken an anti-competitive stance in regard to online gaming. Unless the Commerce is the only operator, they don’t want to share. That’s ridiculous for poker players. They want the version where they’re the only hub that offers online gaming in California.
If there’s a bill that allows gaming in California, it doesn’t help someone in Iowa or Delaware. Those states would have to pass their own bills, but look at the population difference. At the Commerce, I can gamble with people from all over the world. I feel like the Commerce Casino’s position is anti-competitive and their customer base consists of poker players. In the end, the poker players fund their commercial interests.
Also, I’m concerned by the comparison of the operators of online sites to the drug cartels. We know that’s not true. These sites may not be licensed in the U.S., but foreign governments that are friends of our government license them. France isn’t in the business of licensing drug dealers and terrorists.
PND: Tell us about Liv Boeree and UB.com parting ways.
Annie Duke: The issue was that she had a really good result that increased her value and wanted something we couldn’t come to terms with. It was very amicable.
PND: What are your Labor Day plans?
Annie Duke: I don’t have any plans, but I’ll probably cook out with my kids. We don’t do big Labor Days or Memorial Days. I feel like every day is a party at the Duke household.
Tags: 2010, 2011, absolute poker, Annie Duke, bellagio, gamble, poker player, tournament, UBOC, WSOP
Barney Frank Talks Online Poker on The Tonight Show
On Tuesday, Congressman Barney Frank (D-MA) appeared on “The Tonight Show with Jay Leno.” Seated onstage alongside reality television icon Kim Kardashian, Frank discussed, among other topics, the recent success of HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act, in Committee. A lively debate with Leno ensued. Watch here.
The portion of Frank and Leno’s debate focusing on online poker and internet gambling spanned about four minutes. Frank opened the conversation by asserting, “If you have some guy who wants to play poker on the internet, we say it’s illegal… We could make billions of dollars a year by making it legal and taxing it.” The Federal Government could stand to rake in up to $42 billion over a 10-year period by legalizing and regulating the internet gambling industry in the United States.
Not everyone was onboard with Frank’s plan, including Leno, who argued, “Vegas works because you have to go to the desert to get there. You lose your money and you come home. You can’t go to the desert again until you get more money. If you’re sitting at home and you’re up late at night and you’ve got your little credit card, next thing you know, it’s like a mini bar.”
Leno began making a potato chip comparison, but Frank cut him off by noting that there are casinos everywhere in the country, not just Las Vegas. No desert surrounds Tunica or Atlantic City, for example. In addition, HR 2267 only allows for debit card and prepaid card payments as part of a Manager’s Amendment.
Leno then reminded Frank that residents of many states were sold the lottery because all of the money that would go toward schools. Now, educational institutions across the country are struggling despite the influx of cash. Frank explained, “The problems that teachers and others face in schools can’t always be solved by money… The fact that someone oversells an idea doesn’t make it a bad idea, it makes them a bad salesman.”
Frank continued by arguing, “If you want to hit somebody or you want to burn somebody’s house or steal somebody’s car, then I want to stop you because you’re doing it to somebody else. If you want to be foolish with your own money, if you want to gamble, if you want to drink, if you want to smoke, I will tell you it’s a bad idea, but I think it’s a mistake for the government to try to stop you.” Frank has routinely argued that adults should be able to do what they want within the privacy of their own home.
The conversation then quickly digressed from internet gambling, with Leno explaining that smoking marijuana is essentially legal because everyone does it. If you’re caught, it’s only a small slap on the wrist. Frank responded, “I don’t want to say to the cops, ‘We say it’s illegal, but wink at it and go after this one.’ There’s also an element of racial discrimination in the way it’s enforced.”
One amendment to HR 2267 outlawed advertising internet gambling sites to children. The topic of kids not being exposed to internet gambling came up on “The Tonight Show,” with Frank claiming, “I do agree you can limit this to kids and in fact we’ve done that. Joe Camel has disappeared. As a general rule, the government shouldn’t be trying to live people’s lives for them. You protect people from other people hurting them.”
Congress is currently on recess until September 13th. Its target adjournment is October 8th in advance of the general elections in the United States, meaning that the legislative body will have just 20 days to tackle the internet gambling issue. In all likelihood, a “Lame Duck” session will occur as well, giving HR 2267 one last chance. Stay tuned to Poker News Daily for the latest headlines from Capitol Hill.
Road Gambler - The Hughes Strategy
When I entered the United States Army in 1962 at age 22, I listed my occupation as “card player: poker, gin rummy and bridge tournaments”. They made my speciality code-breaking and cryptography. Several expert poker and bridge players, including game book authors Herbert O. Yardley, Harry Fishbein, and Oswald Jacoby had been code breakers during World War II.
Caesars Palace fined over gambler’s table dance
Tags: gamble
Gus Hansen down over $1,500,000 for August
Nevada Casino Gambling Revenues Dip 6.65% in June
In figures released by the Nevada Gaming Control Board this week, state casinos pulled in revenue, or “win,” of $763.8 million in June, a drop of 6.65% year over year. It marks the largest drop in revenue compared to the same month the year before since October 2009, when win fell 11.56%. Revenues statewide in Nevada topped $800 million in June 2009.
In Clark County, which includes the city of Las Vegas, revenues were $640.1 million in June, a slide of 6.91% from the same month a year earlier. Every single area within the county posted a loss year over year, including the famed Las Vegas Strip, whose gigantic casino resorts pulled in revenue of $382.9 million in June, a dip of 7.62% from the $414.5 million posted in June 2009. The Strip plays host to a bevy of poker tournaments held in casinos like the Bellagio, Venetian, and Caesars Palace.
In Downtown Las Vegas, where shows like “Face the Ace” and “High Stakes Poker” are taped at the Golden Nugget, revenues of $40.2 million represented an 11.67% fall year over year, the second largest decline of any area in Nevada. In North Las Vegas, revenues were off 7.98% year over year to $23.4 million. Out in Laughlin, which also sits in Clark County, casino win was down nearly 5% to $36.6 million, while on the Boulder Strip, revenues of $62.0 million represented an 8.85% slide year over year.
Washoe County was hard hit in June. The scorching summer heat failed to send would-be gamblers to air conditioned casinos, as the county’s gambling revenues slid 9.17% to $63.5 million. In Reno, “The Biggest Little City in the World,” gambling win dove 8.32% year over year in June to $47.1 million. Nearby Sparks reported the largest decline two months ago of any area in Nevada at 13.23%, as its revenues of $9.4 million fell well short of last year’s tally of $10.8 million.
South Lake Tahoe casinos owners were dancing a jig in June, as area gambling establishments posted a 13.52% gain in win year over year to $19.8 million. Over the fiscal year to date, however, revenues in South Lake Tahoe are still down nearly 17% to $219.7 million. In North Lake Tahoe, casino revenue sank 10.58% in June to $2.2 million.
In Elko County, which includes the city of Wendover, casino revenues were off 10.11% to $19.8 million. In Wendover, which accounts for the bulk of the revenue the county pulls in, win slipped by 9.72% to $12.1 million. Finally, the Carson Valley Area was the second jurisdiction to post a gain year over year, as its $8.6 million in casino win marked a rise of 5.15%.
The State of Nevada pulled in $42.9 million in fees from its licensed casinos in July based on revenues recorded in June. The figure represented a 5.94% drop from the previous year, or $2.7 million in real money.
Las Vegas will next host a major tournament series in October, when the World Poker Tour’s (WPT) Festa al Lago comes to town. The Bellagio event kicks off on October 15th and boasts a $10,300 buy-in. The WPT will return to the Strip casino two months later for the annual Five Diamond World Poker Classic in December. The World Series of Poker (WSOP) Circuit, which begins next week in Iowa, won’t come to Las Vegas until next April at Caesars Palace.
In November, the off-Strip Rio All-Suite Hotel and Casino will play host to the November Nine of the WSOP Main Event. Charity tournaments, an elaborate Poker Hall of Fame induction ceremony, and other side events are also planned surrounding the November 6th weekend. Check out the full Nevada Gaming Control Board revenue report.
Mike Matusow – can he pay off Ted Forrest?
Poker and the Endowment Effect
John “JimmyLegs” Wray is a feared mid-stakes heads-up player, coach, video producer, and sponsored CardRunners pro, all while being a full-time father of two. Before getting bitten by the poker bug, he was a writer/director for TV and animation, a background that serves him well now that he’s regularly producing content for CardRunners. “Brain Fail,” his entertaining look at the intersection of poker and behavioral psychology, has quickly become one of the most popular and talked-about poker series on the web.
No, it’s not a slang term for a night out at Chippendales. The Endowment Effect is a very real force currently twisting your mind and affecting your ability to play rational poker. Don’t believe me? Let’s take a look at two scenarios with our hypothetical hero, Bob.
SCENARIO #1
Bob is in a Heads-Up No Limit Hold’em match against a tight, straightforward player.
Blinds: $0.50 / $1
Villain: ($100) Dealer
BOB: ($100) Big Blind
Dealt to BOB: 
Pre-Flop (Pot: $1.50)
Villain RAISE to $3
BOB RAISE to $12
Villain CALL
Flop (Pot: $24)
“Damn,” thinks Bob. Why is there always an ace on the flop? He fumes for a second, but realizes that there’s no guarantee his opponent has an ace, so his kings might still be good.
BOB BET $22
Villain ALL-IN $88
A stream of profanities pours from Bob, but his inner monologue goes something like this: “The villain has an ace here, right? Maybe, but I’ve got kings! It’s a monster! He could be shoving with 9-9 through Q-Q or a wheel draw or even on a stone cold bluff, right? Sure, he’s been playing tight, but everyone bluffs at least 10% of the time – I think I read that in a book somewhere. Screw this guy, there’s no way he’s making me throw my cowboys away!”
Getting about 2 to 1 on his money, Bob angrily makes the call… and loses to his opponent’s A-J.
SCENARIO #2
Bob is in a Heads-Up No Limit Hold’em match against a tight, straightforward player.
Blinds: $0.50 / $1
Villain: ($100) Dealer
BOB: ($100) Big Blind
Dealt to BOB: 
Bob hasn’t been very active recently, so he decides to try to pick up this pot pre-flop with a bluff against his tight opponent.
Pre-Flop (Pot: $1.50)
Villain RAISE to $3
BOB RAISE to $12
Villain CALL
Flop (Pot: $24)
Well, the 3bet failed miserably, but since there’s no guarantee his opponent has an ace, Bob tries to win with a continuation bet.
BOB BET $22
Villain ALL-IN $88
“Oops,” Bob thinks, chuckling. But, just as he goes to click the fold button, a genie appears in a puff of smoke and makes him this proposition: “Bob, if you make this call, I have the power to magically transform your 7-2 into pocket kings! Whaddaya say?”
Bob thinks about it, but quickly realizes that he’d really be no better off with kings than 7-2. Since it’s overwhelmingly likely that his tight opponent indeed has an ace, Bob would be drawing to only two outs even with K-K. The 2 to 1 pot odds aren’t nearly enough to warrant that gamble, so Bob politely refuses the genie’s offer and instead folds the hand.
Notice anything about the two scenarios? That’s right, they’re effectively identical. In both cases, the action, pot size, bet size, board texture, and opponent’s likely holdings are exactly the same. And Bob is being asked to risk the same amount to show down pocket kings in both hands. So why was he willing to call off his stack in the first situation, but fold in the second? Shouldn’t his decision be the same in both scenarios?
If Bob were a computer, then it would be. But, Bob isn’t – he’s a human being. And human beings are flawed, wonderfully irrational creatures. Tucked away in Bob’s mind are hidden cognitive biases that are skewing his perception and affecting his decision-making.
One of the forces at work here is the Endowment Effect. It’s a fancy psychological term, but what it boils down to is that people tend to value items that they own higher than identical items that they don’t own. For instance, subjects in an experiment were willing to pay, on average, $6 for a travel coffee mug presented to them. Then, they were given the mugs for free and an hour later asked how much they would be willing to sell those same mugs for. In just one hour of ownership, the average price for the mugs had risen from $6 to $9! Once the mugs became personal property, the subjects became attached to and emotionally invested in them and the mugs’ perceived value increased.
And now our Bob examples start to make a little more sense. In Scenario #1, Bob already owned the kings. They were his, by God, and he’d invested money and emotional energy in them. He’d be damned if he was going to throw them away for just one more bet. The Endowment Effect distorted his valuation of their relative strength, so much so that he was willing to pay a premium to avoid having to throw them away. But in Scenario #2, Bob had no such claim to ownership and so it was much easier for him to look at the situation objectively and make a rational decision.
Maybe you wouldn’t make Bob’s mistake, but many players do every day. And you probably make similar mistakes you aren’t even aware of. How often have you mocked an opponent for playing a hand like J-7o only to find yourself playing the same hand later? Logically speaking, J-7o is J-7o, but the perceived value shifts when it’s your J-7o, doesn’t it?
When you break down the game, poker is all about estimating value. Under a certain set of circumstances, what is X hand worth? Is it worth a call? A bet? A raise? If so, how much? And how does that value shift now that we’ve seen what our opponent has done? We’re constantly calculating the value of our property (our hands) and we do it multiple times every pot, hundreds of times an hour, and thousands of times a session.
It’s crucial that we are aware of any psychological force that might distort the perceived value of our hands and the Endowment Effect does just that. If we let it, the Endowment Effect can exert an invisible pull on each and every hand of poker we play, inflating the perceived strength of our own hands just because they’re ours. This helps explain why new players are such calling stations: every hand looks more valuable than it really is and by God, no one’s going to make them throw it away.
So, next time you’re put in a tough spot, try thinking about your hand in terms of how much you’d be willing to pay to buy it. Distance yourself from that feeling of ownership and you just might muffle the Endowment Effect enough to allow you to make a more objective and rational decision.
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August 3rd – Daily Deal
On today’s edition of the Daily Deal, a major internet gambling bill picks up a new endorser, CardRunners re-launches its affiliate program, and two major operators report mixed financial results. It’s all coming your way… right now!
Hello, I’m Sean Gibson and welcome to the Daily Deal by Poker News Daily.
On the same day as HR 2267 passed out of the House Financial Services Committee, the bill picked up its 70th co-sponsor. Congressman John Campbell, a Republican from California in the Orange County region, signed on to the largely bipartisan bill to make it an even seventy co-sponsors.
A total of eighteen amendments to HR 2267 were discussed last Wednesday during a two-part marathon markup session. Campbell’s amendment focused primarily on consumer protections, including the option for internet gamblers to select a loss limit. Campbell’s amendment also mandated that the odds of winning should be posted and users should be able to choose which random number generator to use when playing on the virtual felts.
In other recent news, the popular poker training site CardRunners re-launched its affiliate program. Affiliates are compensated when players sign up for monthly memberships or redeem their Full Tilt Points as part of the site’s Truly Free Poker Training. In the past, CardRunners had forged different affiliate arrangements with each partner, creating a patchwork group. Now, CardRunners has quadrupled the number of affiliates since launching the revamped program. Affiliates are paid out on the first of every month via PayPal. Visit CardRunners.com for full details and to sign up.
Although its poker revenues were down, Playtech reported a 34% increase in gross income from a year ago after it released its second quarter financials. The parent company of the iPoker Network saw poker revenues dip thirteen percent year over year and 15% quarter over quarter. Its business was hurt in part by the recently-completed World Cup, which brings out the world’s sports bettors.
Finally, 888‘s CEO told eGaming Review on Tuesday that it was “highly likely” that his internet gaming company would engage in merger discussions with other companies in the industry within the next six months. While most would agree that such a move appears to be a case of “keeping up with the Joneses” in light of the recent Party Gaming/bwin merger announcement, he told eGaming Review that the union of his competitors is not changing 888’s marketing tactics.
According to PokerScout.com, 888’s online poker site, Pacific Poker, is just the fifteenth largest worldwide in terms of real money ring game traffic. Ladbrokes has been a rumored merger partner for 888, although nothing official has been announced. Don’t forget to keep it tuned to Poker News Daily for the latest financial headlines.
Thanks for joining me on The Daily Deal and Don’t forget to visit PokerNewsDaily.com and be sure to follow us at Twitter.com/PokerNewsDaily for the latest in poker news. This is Sean Gibson, wishing you monster pots at the tables!
Playtech Reports Encouraging Quarter 2 Results
Online gaming software company Playtech released its 2010 second quarter results last week, reporting a 34% increase (€44.5 million) in gross income from a year ago and a 2% improvement on the first quarter figures from this year.
The company, which is traded on London’s AIM market, saw poker revenues decrease 13% from last year and 15% from the first quarter of this year, owing the slide to the impact of the FIFA World Cup, which took place between June 11 and July 11 in South Africa.
However, growth in Playtech’s casino and bingo operations was more than enough to compensate for the declining poker numbers. Casino revenue was up 34% from a year earlier to €24.9 million, and 3% more than the first quarter of 2010, while bingo revenue had increased by 61% (€2.8 million) over the first quarter figure. The boost in bingo revenue came after Playtech purchased bingo supplier Virtue Fusion in February.
“The second quarter’s performance continues our strong start for the year and provides a solid base for the full year,” said Playtech Chief executive Mor Weizer “Operationally we are well positioned with significant licensee wins such as RAY in Finland and the launch of our new Italian bingo and French poker networks bringing a broad range of well recognized local operators. I am pleased by the continuing growth of Virtue Fusion and GTS and together they will help to mitigate the closure of the French casino market which will be felt in the second half of the year.”
The company’s trading activity also took a hit, down 12% on the second quarter, which Playtech attributed to gamblers focusing on the World Cup event and the typically slower summer season for online gambling. Said Weize, “The decline in current trading is in line with our expectations with sportsbook operators focusing on World Cup betting during the period, and is not anticipated to be a useful indicator of performance throughout quarter three. We continue to see significant growth opportunities over the near and medium term.” Trading for quarter three is already up 20% from last year.
Playtech reported that its share of William Hill Online’s profit was up 43% (€7.6 million) from the second quarter in 2009 and up 4% from the first quarter of 2010. The company partnered with William Hill back in 2008 to develop its online sports book operations, a move that has paid dividends financially.
The software company also announced last week that sports betting operators Snai and Eurobet signed up to join its Italian bingo network. Playtech already provides both with a poker platform on the Italian iPoker network.
Gavin Smith Video Interview with Bernard Lee
Gavin Smith, fresh off his WSOP Bracelet victory, joins Poker News Daily courtesy of “The Hijack Seat” which is hosted by Bernard Lee.
In this interview, Smith talks about what it was like to win his first WSOP bracelet. Smith won the bracelet at the 2010 World Series of Poker Event 44, the $2,500 buy-in Mixed Hold’em tournament. There were 507 entries in this event and the total prize pool totaled $1,166,100. The top 54 finishers collected prize money but Smith took the title and $268,238.
Smith became famous in 2004 when he played well in several televised poker events which were filmed at the Plaza Casino in Las Vegas, specifically a show called The Ultimate Poker Challenge. Because of his gambler’s attitude with hilarious prop bets and penchant for drinking and having a good time, he’s become one of the more beloved poker personalities on the tournament circuit. He has also appeared on High Stakes Poker and Late Night Poker, in addition to the NBC poker show “Face The Ace” which was sponsored by Full Tilt Poker. According to several databases, Smith has more than $4 million in tournament earnings during his career.
During the interview, Smith talked about his huge heads-up chip lead and how he allowed himself to think about the victory before it actually happened and what it meant to get the monkey off his back. He also talked about charity work away from the tables, and specifically a film called “Darius Goes West” which is about a boy with a fatal muscular disorder who is riding his wheelchair across the United States to raise awareness for wheelchair access.
Gavin Smith is a sponsored pro at Full Tilt Poker and Bernard Lee can be seen on the ESPN.com segment “The Inside Deal” during WSOP season. Lee is also the official spokesperson of Foxwoods Casino.
Tags: 2010, charity, full tilt poker, gamble, high stakes, interview, poker show, tournament, vegas, WSOP
Internet Gambling Bill HR 2267 Up to 70 Co-Sponsors
HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act, was passed out of the House Financial Services Committee last week by a 41-22 margin. On the same day as the measure was approved, HR 2267 picked up its 70th co-sponsor, Congressman John Campbell (R-CA).
A total of 18 amendments to HR 2267 were discussed last Wednesday during a two-part marathon markup session. Campbell’s focused primarily on consumer protections, including the option for internet gamblers to select a loss limit. Campbell’s inclusion also mandated that the odds of winning should be posted and users should be able to choose which random number generator to employ when playing on the virtual felts.
Campbell summed up his amendment by asserting, “When you take all of this together, many of the objections put forth to this bill should be handled by this amendment. We have a number of consumer protections that do not currently exist online.” In response, Ranking Member Spencer Bachus (R-AL) said that he would neither oppose Campbell’s amendment nor ask for a roll call vote on it, but then noted that Delaware Attorney General Beau Biden, the son of Vice President Joe Biden, was against HR 2267.
Among those weighing in on Campbell’s involvement with the bill is Interactive Media Entertainment and Gaming Association (iMEGA) Chairman Joe Brennan, who told Poker News Daily, “Campbell’s amendment puts all of the costs of prevention on the operators. It essentially liberates individuals from personal responsibility and casts the industry as nothing but a harbinger of doom for people who are powerless. I can understand that people want to put protections in place, but you’re talking about upping the ante. How many operators will be able to afford that?”
Also keeping close tabs on Campbell and the other 69 co-sponsors of HR 2267 is the Safe and Secure Internet Gambling Initiative (SSIGI), whose credibility has been brought into question several times by Bachus during last month’s hearings. SSIGI spokesperson Michael Waxman told us, “It was good to see some new members supporting HR 2267, including Congressman Campbell, which further illustrates that this is a bipartisan bill.”
Bachus called out the SSIGI for having its listed address as a UPS Store in Washington, DC. The Alabama Congressman, who is reportedly on the outs as Ranking Member, quoted an Orlando Sun-Sentinel article about children being addicted to gambling on multiple occasions during the proceedings last Wednesday. Bachus opened the markup hearing by commenting, “Stopping adults from gambling has never been my goal. This bill will circumvent state and local law. Today, the Federal Government will preempt that law and allow gambling on every electronic device in America.”
Campbell, despite being on the same side of the aisle as Bachus, noted that staunch consumer protections could alleviate many of Bachus’ concerns about children and other vulnerable populations gambling online: “The point of this entire bill is that there are many protections that don’t exist out there today on these illegal gambling sites. If we create a structure, many of the protections that the Ranking Member is concerned about will exist.”
The future of HR 2267 is anyone’s guess. Lawmakers will head to their districts between August 9th and September 10th for the annual summer work period. Then, Congress has a target adjournment date of October 8th for general elections in the United States. Every House seat and one-third of the Senate will be up for grabs.
In addition, HR 2267 does not have a supported companion bill in the Senate, as Robert Menendez’s (D-NJ) S 1597 has no co-sponsors and has not yet been discussed in any capacity. HR 2267’s revenue companion bill, Congressman Jim McDermott’s (D-WA) HR 4976, has not yet been marked up in the House Ways and Means Committee, although the group discussed the legislation in May.
Poker Players Alliance Reacts to Passage of HR 2267
The tireless work of Rep. Barney Frank and the Poker Players Alliance finally made some progress Wednesday as HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act, passed the House Financial Services Committee by a vote of 41-22. The result can be viewed as a small but important victory for the poker community, on a battle that has been fought over and over again on Capitol Hill over the past few years.
The bill, which could ultimately lead to the legality and regulation of online poker in the States, will now be sent to the House of Representatives for more amendments and a majority vote. Should the bill get the majority vote from the House of Representatives, it would then be passed along to the Senate for another majority vote, before being signed into law by the President.
Wednesday’s win was just the first of many in order to regulate online poker in the United States, but the PPA was very encouraged by the result.
“The fact is, online poker is not going away,” said Alfonse D’Amato, chairman of the PPA. “Congress has a choice — it can license and regulate it to provide government oversight and consumer protections, or our lawmakers can stick their heads in the sand, ignore it, and leave consumers to play on non-U.S. regulated websites in all 50 states. I’m glad the Financial Services Committee today overwhelmingly chose to act and protect Americans as well as preserve the fundamental freedoms of adults and the Internet.”
The committee spent hours Wednesday amending HR 2267 and several modifications were made to the bill. They include mandatory implementation of technologies to protect against underage gambling; high standards to prevent fraud, abuse and cheating, to ensure fair games for customers; requirements for operators to set daily, weekly or monthly limits on deposits and losses to monitor and detect individuals with excessive gaming habits; and requirements to ensure that bettors are restricted from using credit cards to gamble on the Internet.
“We commend the lawmakers who helped make H.R. 2267 stronger through a variety of consumer protection mandates,” said John Pappas, PPA executive director. “In particular, we thank Representatives John Campbell, Mary Jo Kilroy, and Melissa Bean for their thoughtful additions to the bill and their interest in preserving the rights of adult poker players in their districts.”
One area of concern lies within the first amendment discussed on Wednesday, which restricts sites that have intentionally broken Internet gaming laws from getting a license to conduct business in the United States. This will likely affect larger online poker sites such as PokerStars, Full Tilt Poker and the old Ultimate Bet, all of which allowed players from the U.S. to play on their site following the passage of the UIGEA. The amendment, which was introduced by Congressman Brad Sherman, passed by a voice vote.
In a press release following the hearing, the PPA made the following statement regarding the amendment: “There is still much work to be done and areas of policy in this bill that must still be addressed. To be clear, despite the concerns of some of our members, nothing in the Committee-passed legislation precludes lawful Internet poker-only operators whom U.S. players know and trust today from the opportunity to operate under a regulated system. The PPA will work with House and Senate lawmakers to ensure that the final legislation produces the best regulated online gaming environment for the consumer.”
Stay tuned to Poker News Daily for the latest from Capitol Hill.?
U.S. House Committee Votes in Favor of Online Gambling Regulation Bill
Should it become law, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act of 2009 would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the United States.
The Act passed in the House Financial Services Committee by margin of 41-22 and must now go through both the full House and Senate before becoming law.
According to the Committee, the legislation comes in response to the Unlawful Internet Gambling Enforcement Act (UIGEA), which restricted the use of the payments system for Americans who gamble online.
The new act will require licensees to take appropriate safeguards to prevent fraud, money laundering, underage and compulsive gambling.
It also contains protections to prevent minors from gambling online; prevents inappropriate online advertising targeted toward underage or compulsive gamblers; prohibits licensees from accepting bets or wagers from persons on the self excluded list of compulsive gamblers and persons delinquent with child support payments; prevents the use of a credit card to gamble online; requires that players set financial loss limits; strengthens regulatory requirements regarding integrity and fairness; bans violators of federal and state gambling laws from obtaining a license; and requires a substantial U.S. presence as a condition of obtaining a license.
PokerStars, the World's largest online poker site, has come out quickly to applaud the Committee's support of the bill.
"The bill, sponsored by Committee Chairman Barney Frank, offers a long overdue common sense approach to Internet gaming regulation in the United States," reads a release.
"PokerStars wholeheartedly supports the efforts of Chairman Frank and the bill's proponents. This bill represents the most significant U.S. legislative accomplishment in the history of the Internet gaming industry."
Although PokerStars has continued to allow U.S. Players on its site through the passage of the UIGEA, the company believes its activities in the U.S. are and at all times have been lawful and will not prevent the organization from obtaining a license should the bill become law.
"PokerStars maintains its strong support for H.R. 2267 and encourages the full House and ultimately the Senate to move quickly to secure passage during the current Congressional term," said Paul Telford, PokerStars' General Counsel.
"PokerStars, a pioneer in operating online poker under stringent regulatory frameworks, looks forward to working with incumbent and new operators in promoting a safe and healthy online poker industry in the United States, as it currently does under similar licensing models in Italy and France."
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Interview with Leo Margets
Poker News Daily: Talk about your run as Last Woman Standing in the 2009 WSOP Main Event. How has that experience changed your career?
Leo Margets: My run was amazing, but I was not aware of it until this year. At the time of playing I was completely focused on winning one hand and then the next one, not of my standing in the race.
Placing 27th has definitely changed things in the table: other players act differently, and I have gotten more attention from my sponsor 888.
PND: Your title defense came up short in 2010. Walk us through your run in this year’s Main Event.
LM: I didn’t really feel a lot of extra pressure. I went out with a very polemic hand: I had 98 in the hole and was 3-bet by a very aggressive player whom I knew well from before. There were about 60 Big Blinds on the table, and my options were 4-betting him back or playing after the flop. I decided to flat call and play aggressively post flop, which was 8-9-Q rainbow. I decided to lead out in case he raised, but he shoved with 45 Big Blinds. He had Kings and spiked a Q on the river.
I was very sad to be left with only 5 big blinds, because I was looking forward to a big comeback, but ultimately it’s better to bust in Day 2 than in the bubble!
PND: You’re signed by 888. How did that sponsorship opportunity come up?
LM: Good timing! A few months after I started playing poker I went to the Casino in Barcelona to play a University Tournament, and I won it. 888 spotted me and offered to sponsor me for Spanish tournaments with buy-ins between 100 and 1000 Euros. Then the WSOP was approaching and many friends of mine were going, so I asked 888 if they would sponsor me, even though it was not part of my deal. I was very insistent until they finally said yes, and I promised I would not disappoint them!
PND: How are you treated differently at the poker table now compared to before your Main Event run in 2009?
LM: I get a lot more attention from the media and the crowd – it is so cool to hear nice things and support from the crowd! But sometimes I would prefer to be anonymous at the table,because others like to bluff me more when they know who I am.
PND: How did you get started in poker?
LM: It was completely weird. I was out on a first date, and at the time I didn’t know anything about cards. I invited him for a drink and he declined because he had a poker game. I was intrigued – what was this poker thing that was more important than a date? So I asked him if I could come along and see. This relationship really got me into poker; he was a great teacher and really helped me understand what poker is about. I got crazy about poker and started playing lots online, and the rest is history.
PND:We saw you walking down the red carpet at the Ante Up for Africa event at the WSOP this year. Talk about playing alongside major celebrities and other high-caliber poker pros.
LM: I respect everyone at the tables, but I’m not more nervous when I’m playing with pros. At this year’s Ante Up For Africa I got to sit next to Phil Gordon and Matt Damon. It was nice: I had never met Matt Damon. But he didn’t affect my game. What really affected it was multi-tabling live for the first time in my life – I was playing the $2,500 event at the same time, so I probably gambled a lot more at Ante Up for Africa.
PND: What upcoming photo shoots or other non-poker related projects do you have coming up?
LM: I already did a photo shoot for the Sunday magazine of El Pais [N.Ed.:one of the largest Spanish newspapers] and a couple of women’s magazines. I was also recently approached by either Elle or Vogue – can’t quite remember – but that won’t happen till September because I am taking a little holiday. I also contributed to two books.
PND: We know you’re talented at No Limit Hold’em. Have you tried to learn other poker games? How has that been going?
LM: Before this World Series I was taking Razz lessons with a friend, hoping to be able to play H.O.R.S.E., but I decided to give myself another year so I wouldn’t feel like I was improvising. I was doing a lot better in Omaha, but I missed my event this year because I was still playing another. Next year I will play other variants besides Hold’Em for sure.
PND: Quick quiz: Hottest male poker player is ___ (and why)?
LM: It would not be very original to say Antonius, right? Let’s say my ex who taught me to play poker 5 years ago. He is cute, sexy and smart.
HR 2267 Passes House Financial Services Committee
After postponing the hearing on Tuesday, the House Financial Services Committee met on Wednesday to discuss Rep. Barney Frank’s proposed bill H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. Many representatives were on hand to file amendments and make their voices heard, and after several hours the bill was passed by a vote of 41-22, finalizing the first of many steps to be taken in order to regulate online poker in the United States.
The hearing got underway just after 10:00 a.m. ET and the committee began discussing provisions of the bill in the markup phase. This is the phase where a Congressional committee makes changes to a bill before it is voted on and eventually sent to the House of Representatives for another vote. Should the bill get the majority vote from the House of Representatives, it would then be passed along to the Senate for another majority vote, before being signed into law by the President.
Several amendments were made to HR 2267 on Wednesday. Each amendment was handled individually and voted on by the representatives in attendance. Here’s a recap of what was discussed:
Amendment 1 (Congressman Brad Sherman, Calif.): Sites that have intentionally broken Internet gaming laws cannot get a license to conduct business in the United States. This will likely affect larger online poker sites such as PokerStars, Full Tilt Poker and the old Ultimate Bet, all of whom allowed players from the U.S. to play on their site after the UIGEA went into effect. Amendment is taken to a voice vote, where representatives are asked to motion whether they are in favor or against the amendment. Amendment passes by voice vote.
Amendment 2 (Congressman Peter King, New York): Prohibits sports betting, excluding horseracing. King and several other representatives strongly support the notion of keeping sports clean and away from anything that will undermine the integrity of the game. Amendment passes by voice vote.
Amendment 3 (Congresswoman Mary Jo Kilroy, Ohio): Secretary of Treasury has the power to prohibit unsolicited emails and advertisements targeted to minors and problem gamblers. Amendment passes by voice vote.
Amendment 4 (Congressman Spencer Bachus, Alabama, and Congresswoman Michele Bachmann, Minnesota): Forbids offshore sites that have illegally done business in the US, along with people who have been employed by said sites, from getting a license. Bachus aims to include everyone associated with an “illegally-run” online gambling site be banned; Frank disputes the provision, saying that a janitor or restaurant worker employed inside of a brick and mortar casino would not be held responsible for the mishandlings of upper management; the same should hold true for an online company. Bachus withdraws amendment and says he would like to resubmit. Bachus reintroduces amendment later in the day, stipulating that only those who knew they were working at an illegally-run Internet site will be banned from obtaining a license. Amendment is later voted on by roll-call.
Amendment 5 (Congressman Joe Baca, Calif.): Allows Indian tribes to participate in Internet gambling. Frank quickly denies the amendment as it is not germane, or relevant to the subject.
Amendment 6 (Congressman Joe Baca, Calif): Allow states/tribes to opt-in to Internet gambling. Frank emphasizes that the choice to gamble online should be up to the person, not to the state where they reside. Amendment denied by voice vote, but is later voted on by roll-call.
Amendment 7 (Congressman John Campbell, Calif): Includes several provisions: 1.) All facilities of licensees that operate and/or accept wagers be located in the US; 2.) States and tribes must have parallel authority; 3.) Bettors must be at least 21 years of age; 4.) Age and residence of bettors must be verified; 5.) Odds of winning at each game must be posted online, 6.) The identities of legal and illegal gambling sites must be verified by the treasury in order for banks to prohibit certain financial transactions; 7.) Owners must meet licensing requirements; 8.) Sites must provide loss limits for each bettor. Amendment passes by voice vote.
Amendment 8 (Congressman Brad Sherman, Calif.): States are given one full legislative session to opt out, as opposed to the original period of 90 days. Amendment passes by voice vote.
Amendment 9 (Congressman John Campbell, Calif): Internet sites who advertise towards minors will have their license revoked. Amendment passes by voice vote.
Amendment 10 (Congresswoman Melissa Bean, Illinois): Treasury is required to observe Internet sites and accordingly sanction fines and revoke licenses if minors are found gambling. Amendment passes by voice vote.
Amendment 11 (Manager’s amendment — the majority and minority member who managed the debate): Bets are to be made with prepaid cards and debit cards only; bettors will be restricted from using credit cards on Internet gambling sites. In addition, the House Financial Services Committee will have no jurisdiction on tribal rights. Amendment passes by voice vote.
Amendment 12 (Congresswoman Michele Bachmann, Minnesota): Internet sites are forbidden from allowing people who are delinquent on child support from gambling on their site. Sites who don’t obey this rule lose their license. Amendment passes by voice vote.
Amendment 13 (Congressman Gary Peters, Michigan): State and tribal lotteries are exempt from licensing requirements, as long as they are intrastate activities. Currently, these lotteries are already subject to state licensing, and the Federal government should not get involved. Amendment passes by voice vote.
Following the passing of the final amendment of the afternoon, Rep. Bachus called for a roll call vote, which Rep. Frank scheduled for 3:20 p.m. ET. The first roll call vote was on the opt-in amendment by Rep. Baca, which was defeated by a vote of 37-22. The next in line was Bachus’ amendment, which was also voted down, by a vote of 43-22. Finally, HR 2267 came before the committee, and it passed by an overwhelming margin of 41-22.
Stay tuned to Poker News Daily as we continue the follow the fight to regulate online poker in the U.S.
Annie Duke Comments on House Financial Services Committee Hearing
On Wednesday, the House Financial Services Committee held a hearing on the merits of HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. UB.com pro Annie Duke was one of five witnesses to appear in front of the assembled Committee and, afterwards, shared her thoughts on the event with Poker News Daily.
As a sponsored pro of UB, Duke has seen the power of mining online poker data in the site’s and the community’s investigations of the Russ Hamilton-led cheating scandal. Whereas casinos rely on more subjective estimates of whether a person is intoxicated, underage, or a problem gambler, online poker rooms can take a long, hard look at the data. Duke explained, “I have never in 15 years in a casino seen someone removed for being too drunk. Casinos have cocktail waitress walking around with trays of alcohol 24/7. It’s much easier to identify the patterns of a problem gambler by looking at data rather than looking someone in the eye.”
Ranking Member Spencer Bachus (R-AL) asked Duke if she was a sponsored pro of Ultimate Bet, which he noted had a multi-million dollar cheating scandal erupt on its felts. Duke corrected the Congressman, saying that she was affiliated with UltimateBet.net: “I would have liked to emphasize more that [the scandal] happened because of a lack of regulation and a lack of licensing. I would have liked to have said more of that. I would like to see consumers have recourse against an individual who did wrong against them.”
Duke’s theme throughout her testimony and responses to member questions was that the Unlawful Internet Gambling Enforcement Act (UIGEA) was merely a “banking law.” Consequently, it fails to protect consumers that still engage in the industry: “The UIGEA is not about consumer protection. It’s a banking law. I hit that point so many times. There’s no protection for consumers.”
Also debated at length during Wednesday’s two-and-a-half hour marathon session was whether sites that continue to operate in the United States should be eligible to receive licenses if and when internet gambling is legalized and regulated. Duke gave her insight into the question: “If a site is licensed by a reputable licensing body in a country we are friends with, are you really going to say that you can’t license them here? Besides, companies don’t get licensed, individuals do. You can’t ban an asset. You have to look at the individuals getting licensed.”
Duke spoke on behalf of the Poker Players Alliance (PPA), the 1.2 member strong lobbying organization for the live and online poker industries. The PPA has been instrumental in setting up this week’s hearing on HR 2267 and next week’s markup of the bill.
Although Duke had to hightail it to the airport following Tuesday’s appearance, she told Poker News Daily via phone, “The PPA got very positive responses. I’m not there representing myself. My interest comes from being a good representative for poker.” Duke found out last Friday that she was set to appear in the Financial Services Committee and Tweeted on Tuesday, “Heading to DC tomorrow. Testifying Wednesday at 2pm in front of Chairman Frank’s Committee on his new legislation to regulate online gaming.”
Duke has been busy responding to her followers on Twitter, chirping to Pokerati on Wednesday after the hearing, “Regulation and licensing would have allowed prosecution of Russ Hamilton. I wish we had that now. Make him pay.” She added, “Thx everyone for all the kind words. Proud to have represented the poker community on The Hill today. Thanks @PPAPoker for the opportunity.”
A markup hearing of HR 2267 is scheduled for Tuesday, July 27th at 10:00am ET in the House Financial Services Committee. The bill is one of six that will be addressed.
Spencer Bachus Out as Ranking Member of Financial Services Committee?
According to an article that appeared in the Capitol Hill publication Politico on Wednesday, Congressman Spencer Bachus’ (R-AL) designation as the Ranking Member on the House Financial Services Committee may be in jeopardy. One Republican lawmaker told Politico, “Spencer is aware that he’s not in a strong position because he’s not a strong leader.”
Bachus has been a staunch opponent of internet gambling, at one point citing a non-existent study crafted by McGill University linking internet gambling to suicide. In a 2008 House Financial Services Committee hearing, Bachus told the assembled crowd, “Most significantly, [internet gambling] causes suicide. McGill University found that one-third – one-third – of college students who gambled on the internet ultimately attempted suicide. That is why the rate of suicide on our college campuses has doubled in the last ten years. Study after study has found that the most significant driver of that is addiction. The fastest-growing addiction is internet gambling.”
McGill Professor Jeffrey Derevensky, who was also on the Board of Governors of Youth Gambling International, told Poker News Daily at the time that no such study had ever taken place at the Canadian institution: “I am confident the Congressman doesn’t read research – he could not misinterpret this.” Bachus’ primary argument against legalizing and regulating internet gambling in the United States through bills like Frank’s HR 2267 has been that a 24-hour casino would become available in every home.
Possible replacements for Bachus, according to Politico, are Ed Royce (R-CA), Jeb Hensarling (R-TX), and Scott Garrett (R-NJ). As to why Bachus, who has been in Congress since 1993, would be a target of his own party, Politico speculates, “Many Republicans fear that Bachus lacks the chops to provide strong leadership on tough issues, and more activist Republicans most likely would push vigorous oversight of major financial legislation passed by the Democratic Congress — including the financial reform bill that President Barack Obama signed Wednesday.”
In Wednesday’s hearing on HR 2267, Bachus submitted an MSNBC story published in 2008 about “crimes” at Ultimate Bet. Bachus asked witness Annie Duke, who spoke on behalf of the Poker Players Alliance (PPA) if she was affiliated with the site. Duke responded that she was affiliated with UltimateBet.net and pointed out that the online poker room refunded millions of dollars to members who were affected by the Russ Hamilton-led cheating scandal.
Leadership changes in the House Financial Services Committee and elsewhere would be determined following November’s general elections in the United States. Bachus called out the Safe and Secure Internet Gambling Initiative (SSIGI) on multiple occasions on Wednesday, pointing out that the organization’s headquarters is a UPS drop box in Washington, DC. Bachus called the group a “large corporate interest protecting the bottom line at the expense of disruption of our youth and communities.” The SSIGI’s website lists its address as 1718 M Street NW, which, according to UPS’ site, is indeed one of its retail outlets.
Hensarling and Garrett both told Politico that they expected Bachus to resume his role as Ranking Member on the House Financial Services Committee in the next Congress. Bachus has not had a Democratic challenger to his Congressional seat since 1998, when the Alabama lawmaker bested Donna Smalley by a 72% to 28% margin. Bachus comes to Washington representing Alabama’s Sixth Congressional District, which includes many of the areas around Birmingham.
Next Tuesday, July 27th, the House Financial Services Committee will mark up Frank’s HR 2267. The bill is one of six to be marked up, although the order in which the measures will be addressed, according to a Financial Services Committee staff member, is up to Frank.
Read the entire Politico article.
Tags: 2008, Annie Duke, canadian, cheat, gamble, legal, legalizing, Online Poker, poker player, Poker Players Alliance
Markup of HR 2267 to Occur Week of July 26th
A lengthy hearing in the House Financial Services Committee on Wednesday featured discussion of HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. After a fairly standard hearing by internet gambling standards, Congressman John Campbell (R-CA) dropped a bombshell, alluding to a markup hearing of the bill next week. As of the time of writing, no such hearing has been announced.
Rescheduled to 2:00pm ET, the proceedings in Room 2128 of the Rayburn House Office Building did not commence until 2:30pm ET. Then, Ranking Member Spencer Bachus (R-AL) gave his take on the hours to come: “The timing of today’s hearing strikes some of us as ironic, to say the least. After all of the talk about shutting down the casinos on Wall Street, it makes no sense why we would open casinos on every… computer in America.” Earlier in the day, President Barack Obama signed a major financial overhaul measure into law.
Campbell, despite being a Republican, seemed to be HR 2267 author and Committee Chairman Barney Frank’s (D-MA) right-hand man. Campbell told the assembled committee, “I don’t gamble. I don’t partake in it, but freedom is not about legislating what I like to do. Freedom is about allowing Americans to do what they want to do.” In her testimony, Poker News Daily Guest Columnist Annie Duke, who represented the Poker Players Alliance (PPA), noted that 70 million Americans play poker.
Michael Fagan, Law Enforcement and Anti-Terrorism Consultant, spoke out ardently against HR 2267 and called into question a stat that Duke contributed saying that 1% of gamblers could be classified as problem gamblers. Fagan noted that offshore sites are subject to U.S. excise taxes now, but don’t pay them. He summed up his testimony by concluding, “The costs of regulating and taxing don’t outweigh the negatives.”
Perhaps amenable to a bill like HR 2267 was soon-to-be-Chief Lynn Malerba of the Mohegan Tribe, who told the panel, “Our tribe has a philosophy known as the Mohegan Way, which stresses cooperation rather than conflict.” Malerba noted that Frank had worked hand-in-hand with Indian tribes to create the components of HR 2267. She added that hundreds of thousands of new jobs have been created from tribal gaming and that the Mohegan Tribe was still studying its optimal strategy.
Tom Malkasian, Vice Chairman and Director of Strategic Planning for the Commerce Casino, told the House Financial Services Committee, “We believe limited forms of online poker can provide safe play for our patrons, but only if the legislation is done the right way.” He called HR 2267 “fundamentally flawed” and “based on false revenue assumptions.” Malkasian claimed that HR 2267 rewards foreign operators purportedly operating illegally in the United States now. Once the market opens up, they would have a leg up on their competition in terms of a learning curve if they were granted a license.
The last witness was Ed Williams, President and Chief Executive Officer for the Discovery Federal Credit Union, who spoke on behalf of the Credit Union National Association. Williams told the Committee that the Unlawful Internet Gambling Enforcement Act (UIGEA) “represents an inappropriate and unreasonable compliance burden. It does not provide us with the definition of unlawful internet gambling.”
Congressman Joe Baca (D-CA) lashed out against his colleague’s bill, saying, “The only thing this bill will do is create problems for California and our economy. It threatens to close 22,000 jobs in California.” Baca also expressed concern that a direct federal tax on Indian tribes would threaten their sovereignty, at one point raising his voice and pointing at Malerba before reiterating his concerns about job losses.
One new point that surfaced during the hearing was whether sites like PokerStars, Bodog, and UB.com, which have continued to operate in the United States since the passage of the UIGEA in 2006, should be eligible to receive licenses under HR 2267. Malerba responded, “I think that all sites should be located in the USA. In terms of what has happened in the past with the internet gambling operators, I’m sure that there are internet gambling operators offshore that are legitimate and have been licensed by legitimate governments.
Then, it was Campbell’s turn to shine. At the tail end of a hearing that was delayed by 30 minutes to start and had a 45 minute respite in the middle, Campbell told the audience in a largely empty conference room that he’ll offer an amendment in a markup hearing next week that will add use of sophisticated technologies to HR 2267. He’ll also propose a loss limit: “Most brick and mortar casinos don’t have those things.”
The hearing came to a close around 5:00pm ET. PPA Executive Director John Pappas told Poker News Daily that the markup hearing directive would come from Frank’s office.
Tags: aced, Annie Duke, Barney Frank, bodog, gamble, legal, Online Poker, poker player, Poker Players Alliance, pokerstars, usa
2010 November Nine: Jonathan Duhamel
The only problem is that he has to wait until November for it all to play out.
The 22-year-old poker pro from Boucherville, Quebec, played a strong game over eight days of the Main Event and had all the momentum going for him after abusing a grueling six-hour final table bubble on Saturday.
"To be honest I was surprised everyone was playing so tight," said Duhamel. "In a way it's a good strategy because making the November Nine is a big deal, but there are millions that separate the different payout levels."
Duhamel conceded that it will be a very different scenario in November when all nine players reconvene to play to a winner.
"Players are going to be looser and they are going to gamble."
A former finance student, Duhamel dropped out of college to pursue the poker dream. It's a decision that has worked out well for him after nearly six years of playing the game.
He recorded two cashes at this year's WSOP and nearly made the final table of EPT Prague in 2008, finishing 10th for $54,904.
Duhamel had the dubious honor of playing one of the most talked-about hands of the 2010 WSOP when he knocked out Matt Affleck midway through Day 8.
In the hand Duhamel made a huge call with pocket jacks and an open-ended straight draw while Matt Affleck had pocket aces. Fortunately for Duhamel he hit his straight on the river and the 42 million chip pot was shipped his way.
"I know I'm lucky to be here but at the same time I think I played a great game," he said.
Duhamel will have his work cut out for him against veteran pros like Michael Mizrachi and John Racener when the final table of the Main Event finally arrives in November.
"They're all very good, to be honest," he said of his final table opponents.
Duhamel doesn't plan on changing his lifestyle over the next four months although he might play a few more EPTs. He also plans to find as much information as he can on his eight November Nine opponents.
With lifetime tournament earnings of $101,560, it doesn't matter where Duhamel finishes in the upcoming final table of the 2010 WSOP Main Event, he's already in for the biggest score of his poker career.
Duhamel has already secured at least $811,823 but could win as much as $8.9 million if he runs over the final table in November.
He, along with final table opponent Matthew Jarvis, also has the opportunity to become the first Canadian to win the Main Event.
"I'm going to raise a lot of hands and you're going to see a lot of action from me," said Duhamel. "That's for sure."
The 2010 WSOP Main Event final table begins Nov. 6, with a winner crowned on Nov. 8 and ESPN airing the final table on Nov. 9.
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James Carroll Leads WSOP Main Event After Day 3; Johnny Chan Lurking
After the day of rest on Sunday, the 2010 World Series of Poker (WSOP) Main Event got back underway on Monday, as for the first time in a week, the entire tournament field played at the same time. 2,559 players began Day 3 with high hopes, but with the knowledge that even if they made it through the day, they would still be a long way from making the money.
Henderson, Nevada’s James Carroll leads the way after Day 3 with 803,000 chips, 62,000 more than Chicago’s Imari Love, who has 741,100. Gerasimos Deres, who hails from Helsingborg, Sweden, is the highest ranking non-U.S. player, sitting in third place with 733,700 chips. Rounding out the top five are Italy’s Filippo Candio (727,300) and Max Casal from Burbank, California (687,200).
The talk of the tournament so far, and something that must have ESPN giddy with anticipation, is the emergence of the legendary Johnny Chan. Currently sitting in ninth place with 636,000, the ten-time WSOP bracelet winner looked strong all day and was actually the chip leader for a while. Like much of poker’s “old guard,” Chan has not been as prolific a tournament player in recent years, with his last WSOP bracelet coming in 2005 when he won the $2,500 Pot Limit Hold’em event. What cashes he has had in recent years at the WSOP have been solid, though. In 2008, he cashed three times with one final table, one top-15 finish, and a cash in the Main Event. He cashed once last year, making the quarterfinals of the $10,000 Heads-Up event. And this year, while it was not an official bracelet event, he banked $100,000 in the Tournament of Champions.
Other notable names near the top of the standings include Cole South (40th place), Theo Jorgensen (47th), Scott Clements (48th), Fabrice Soulier (68th), Dragan Galic (87th), Shannon Shorr (88th), J.P. Kelly (120th), Vanessa Selbst (164th), Jay Rosenkrantz (168th), Sammy Farha (225th), Karina Jett (247th), Matt Matros (260th), Vince Van Patten (269th), and Barry Shulman (276th). Annie Duke, Phil Galfond, Dan Harrington, Mori Eskandani, Humberto Brenes, Bernard Lee, Patrik Antonius, Adam Junglen, and Hoyt Corkins are also among the “name” players who have advanced to Day 4.
Falling into the “wait ’til next year” category were the defending Main Event champ Joe Cada, legendary gambler Archie Karas, Kenny Tran, David “Devilfish” Ulliott, Bill Chen, Dan Heimiller, 2003 Main Event champ Chris Moneymaker, Kara Scott, Erik Seidel, Paul Wasicka, David Williams, Barbara Enright, Prahlad Friedman, Phil Laak, Lacey Jones, Jennifer Harman, Tom Franklin, David Singer, and Daniel Negreanu, just to name a few.
In addition to Chan, perhaps the most intriguing player story is not about one player, but four. The four Mizrachi brothers – Michael, Robert, Donny, and Eric – are all still in the running for the 2010 Main Event title. Robert leads the family with 342,800 chips, followed by Donny with 128,600, Eric with 95,800, and Michael with 91,700. The brothers have already made the 2010 WSOP a family affair, as both Michael and Robert made the final table of the $50,000 Player’s Championship, with Michael knocking out Robert in third place en route to his first bracelet.
And from the odd news department comes Belgium’s Philip Goossens. Goossens was doing quite nicely in the Main Event, sitting on a healthy 92,400 chip stack going into Monday’s Day 3. But therein lied the problem. Goossen had qualified through Bwin, which paid for his buy-in, hotel accommodations, and travel expenses until July 12th. Since Goossens made it to July 12th, Bwin paid to extend his hotel stay, but any expenses incurred for rescheduling his flight home were up to him.
He didn’t have the money to foot the €1,000 bill to change his ticket, so he appealed to Bwin to help him out. The poker room did not honor his request and so rather than spend the money without being guaranteed to cash in the tournament, Goossen elected to go home as scheduled. His chip stack sat in front of an empty seat Monday and Goossen was finally blinded out of the tournament late in the day.
Just over 1,200 players will return to the Rio on Tuesday for Day 4 of the 2010 WSOP Main Event, hoping to find themselves on the right side of the money bubble when it likely bursts at some point today. Cards will be in air at Noon PT.
Vanessa Selbst Top 10 in World Series of Poker Main Event After Day 2B
Five days ago, Vanessa Selbst was introduced as the newest member of Team PokerStars along with former Bodog pro David Williams. The introduction took place at the Real World Suite at the Palms in Las Vegas, just across the street from the Rio, the site of the 2010 World Series of Poker (WSOP). After Day 2B of the Main Event, Selbst sits in eighth on the leaderboard with a stack of 265,000, trailing chip leader David Assouline’s mountain of 387,800.
Selbst took down the PokerStars North American Poker Tour Mohegan Sun Main Event and told the assembled crowd at the Palms that she had partly come out of retirement from poker. However, in order to solidify her Main Event run, she’ll have to navigate through a gauntlet of talent when the combined Day 3 field takes to the felt on Monday. Among those left in the hunt for the nearly $9 million top prize is Kelly Kim, an original November Niner, who doubled up late in the day on Saturday with queens against A-K.
One of the final eliminations of Day 2B went to Tommy Vedes, who called all-in with Q-3 of spades on a flop of A-5-4 with two spades. Matt Reed showed A-Q for top pair and no spade came on the turn or river. Vedes took down the World Poker Tour’s Festa al Lago last year for $1.2 million. He owns over $550,000 in career WSOP earnings.
On a flop of 8-4-6, Tom Schneider pushed all-in with pocket sevens, but received a call from a player with a wired pair of aces, which held for the win. We won’t be hearing any cries of “Stack ‘em, stack ‘em, to the top” this year from the two-time bracelet winner’s wife, but Schneider finished the 2010 WSOP with four in the money finishes.
Three players who have made deep runs in the Main Event in previous years found the exit late in the day on Saturday. Jeff Shulman, who finished fifth in last year’s cycle for $1.9 million, and Josh Arieh, who took third in 2004 for $2.5 million, were both ousted from the Main Event yesterday. Joining them was original November Niner Ylon Schwartz, who bowed out in back-to-back hands after running a straight into a flush on his second-to-last pot.
One of our favorite moments of Day 2B involved Brandon Cantu. The UB.com pro announced via Twitter, “I’m shoving this hand no matter what, wish me luck.” True to his word, Cantu moved all-in and detailed what happened next on the popular social networking site: “Went raise 3000 call 3000 I get jt shove fold fold 31k.” Cantu, a dual WSOP bracelet winner, ended the day with a stack of 40,000.
Also bumped on Day 2B were DoylesRoom Brunson 10 member Dan “djk123” Kelly, David “Bakes” Baker, Doyle Brunson, and Full Tilt pro Phil Ivey, who made the final table of this event last year. Ivey was eliminated in especially gut-wrenching fashion, as he ran pocket queens into pocket kings. Ivey hit a queen on the turn to surge into the lead, but Yuji Masaki re-sucked on the river when a king hit. Ivey’s stack took a beating as a result and he was eliminated shortly thereafter.
Here are the top 10 chip stacks after Day 2B according to figures found on WSOP.com:
1. David Assouline – 387,800
2. Ricardo Fasanaro – 380,000
3. Matt Reed – 337,800
4. Jim “Mr_BigQueso” Collopy – 305,100
5. Jon “apestyles” Van Fleet – 295,600
6. Charles Sylvestre – 292,300
7. Sasha Rosewood – 279,500
8. Vanessa Selbst – 265,000
9. Marc Sander – 265,000
10. Gabriel Walls – 241,000
Other players remaining after Day 2B include legendary gambler Archie Karas, Victory Poker pro Dan Bilzerian, Jason Mercier, UFC announcer Bruce Buffer, Eric Buchman, Humberto Brenes, “The Simpsons” voice Hank Azaria, and Lock Poker pro Matt “All In At 420” Stout.
Sunday is an off day for the 2010 WSOP Main Event. On Monday, the survivors from both Day 2s will reconvene at the Rio for a combined Day 3. The tournament’s field will be whittled down to the final nine next Saturday, July 17th.
Tags: 2010, bodog, dan bilzerian, Doyle Brunson, gamble, Phil Ivey, poker player, pokerstars, tournament, vegas, WSOP
The Murder of Iron Drawers Shaw
Tags: gamble
Golf in America Features Poker Pros Mike Sexton, Doyle Brunson
On Tuesday night, the Golf Channel program “Golf in America” profiled the life and times of Walters Golf CEO Bill Walters. The seven-minute segment on the prolific businessman and nosebleed-stakes gambler featured vignettes with several poker icons.
The Golf Channel piece opened with World Poker Tour host and Poker News Daily Guest Columnist Mike Sexton giving Walters’ relevant background: “Bill was a big-time gambler. I mean he was the biggest gambler in the country, betting on sports, betting on golf, betting on pool, and doing anything.” Sexton was the lone inductee into the 2009 Poker Hall of Fame.
Three-time bracelet winner and old time gambler Dewey Tomko chimed in, “He might win $100,000 or $200,000 that day at golf and then lose it at blackjack.” Tomko was voted into the Poker Hall of Fame two years ago alongside hole card camera inventor and bracelet winner Henry Orenstein. Also sharing his memories of Walters was DoylesRoom namesake Doyle Brunson: “He’s legendary for being the best sports bettor in the world.”
Seven-time bracelet winner Billy Baxter noted that no one has ever “beaten sports in the history of the world like [Walters] has.” Meanwhile, Walters shared why he’s grown fond of gambling on anything under the sun: “Risk taking of any kind is what makes you feel alive.” His grandmother raised him in Munfordville, Kentucky, where his uncle owned a pool hall. Walters began playing pool at the ripe old age of four and moved to Las Vegas in 1982.
One man who knows a considerable amount about gambling is the legendary Jack Binion, who told Golf Channel cameras, “Gambling is just manufactured emotion, manufactured thrill.” Sexton then added that Brunson, Baxter, and the late Chip Reese were known to gamble for plenty of money on the links, with Brunson revealing that the group “formed a friendship and a bond that lasted for 20 years.”
A three-man scramble was held featuring Tomko, Sexton, and Brunson taking on three other players who hit off the back tees. Binion served as the event’s emcee and remarked, “People love to gamble when they golf because, if you bet on a ball game or even poker, there’s some fate to it. In golf, I feel like it’s you – you either win the money or lose the money.” Walters added that $1 million could be won or lost in a single afternoon of golf, adding to the drama of the sport.
Walters helped start the Desert Pines Golf Club in Las Vegas in 1996, but allegations arose that political ties helped him acquire other properties. Nevertheless, Las Vegas mayor Oscar Goodman told “Golf in America” viewers that Walters’ success was simply due to his business acumen. The company now owns and operates three golf courses in Las Vegas: Desert Pines, Bali Hai, and Royal Links.
Sexton summed up why Walters received a seven-minute feature on the Golf Channel’s “Golf in America” last night: “He’s absolutely the most phenomenal, successful businessman [there is]. He made the transition from the gambling world and hustling to the business side of things. He’s the smartest hillbilly that there ever was.”
“Golf in America” airs every Tuesday at 9:00pm ET on the Golf Channel.
BLOG – If poker is a game of chance, explain Phil Ivey
WSOP: Sam Farha won his 3rd bracelet after 16-hour battle
The $10k Omaha Hi/Lo Championship was of very high quality and took 16 hours of play at the Rio Casino. The tournament - which was filled with top players - ended up in Sam Farha’s celebration.
-Sam Farha with his prior bracelet.
23 players started the day. Three and half hours later there were only nine finalists left. The Bubbleboy of the final table was Mike Sexton. James Dempsey started the final table from chiplead, and his noisy and drunk supporters kept brawling throughout the tournament.
When there were only seven players left, Sam Farha started his rise. During a couple of hands Farha took the chiplead, and when there were only five players left, he had nearly half of the chips of the whole tournament. After the game was changed to 3-handed, it took a very long time before the next player got eliminated. Yueqi “Richard” Zhu ranked third after which the heads up between Farha and Dempsey could begin with Farha leading 2:1 in chips.
In one phase Farha was leading even 15:1 in chips until Dempsey struck back. After two hours of heads up the two gamblers were having completely identical chipstacks. After 15 hours of play Farha announced his will to set forward the heads up since he was about to play again in the $2,5k PL Omaha tournament in only seven hours. In the end both players were really worn out, and the game got drastically slower and the audience a lot quieter.
The solution to this exciting but wearing heads up came finally at 7am local time. In the crucial hand Farha was holding aces and kings as Q93QA came to the table. Dempsey was powerless in front of Farha’s full house and remained holding only a couple of blinds in hand.
The final results:
1. Sam Farha $488,237
2. James Dempsey $301,790
3. Yueqi Zhu $225,326
4. Sergey Altbregin $169,368
5. Tony Merksick $128,097
6. Michael Chow $97,508
7. Eugene Katchalov $74,670
8. Abe Mosseri $57,552
9. Steve Wong $44,619
Despite his brilliant cash playing skills this was only the seventh time as Farha won money in the WSOP. But we must also note that five times he has ranked in top three. Now it’s exciting to see when Farha is gonna show up in the $2,5k PLO tournament which was scheduled to begin only six hours after he had won the bracelet…
Sources: pokernews.com, Wikipedia and TheHendonMob
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Ashby’s WSOP Win Adds to Burgeoning British Bankroll
Ashby has made a name for himself playing nosebleed stakes cash games and now adds his first WSOP bracelet to a growing resume.
"I'm mostly known for playing online at fairly high-stakes and I haven't had much tournament success, so I'm really pleased to win a major," Ashby told PokerListings.
Ashby said the prestige means more to him than the money, although his $141k payday won't hurt either.
The Brit has come a long way from his humble beginnings. One now legendary story among poker circuit professionals involved Ashby putting his entire $4k bankroll on the line playing cash games.
The gamble went exceedingly well at first as he ran it all the way up to $100k. Unfortunately for Ashby, he lost the entire $100k by the end of the week and had to start from scratch.
We asked him to reflect on that story now that he has a bracelet in hand. "Even though the actual prize money is a lot of money, I've experienced winning and losing that amount online in a day," said Ashby. "But this means so much more than a big win online."
Ashby topped the likes of Alexander Kravchenko and Dan Heimiller-who was making his third final table appearance of the WSOP-for his final table victory. This was Ashby's third career final table appearance at the WSOP, and his ninth career WSOP cash.
"It really does validate all the hours I've put in coming here every year," said Ashby.
With all the English success at the WSOP, Ashby was asked if he would trade the bracelet for an England World Cup victory. "Absolutely not," he replied without hesitation. Good to see he has his priorities straight.
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Simon Watt – Poker Player Profile
Hailing from Auckland, New Zealand, Software Engineer Simon Watt arrived at the 2010 World Series of Poker with nothing but winning a bracelet on his mind. Despite playing poker only part time, the 27 year-old Kiwi had an impressive run in late 2009 when he won the Asia Pacific Poker Tour event in his hometown of Auckland for $155K.
In Event #11: $1500 No Limit Hold’em at the 2010 WSOP, Watt found himself at the final table with none other than Tom ‘durrrr’ Dwan. If competing with Dwan for a bracelet wasn’t nerve-wracking enough, the fact that Tom had millions in prop bets on the line made the festivities that much more intense. As fate would have it, Simon Watt found himself heads-up with Dwan – the only obstacle standing between durrrr and a rumored $10 million. Throughout the duration of the match, the crowd was decidedly in favor of seeing Dwan win his side bets save, or course, for those who stood to lose millions.
On the final hand of play, durrrr shoved his remaining stack of 1.6 million with Qd-6c and was immediately called by Watt, who held 9d-9c. When the board ran 8c-Ac-As-Ad-Kh, Dwan had to settle for second place while Watt took $614K and the gold bracelet.
In the wake of the stunning action, Mike Matusow echoed the sentiments of his prop-betting buddies, telling Watt: “Thank you for saving us all millions of dollars! How does it feel to be every high-stakes gamblers hero? They’re gonna, like, put you on the wall in Bobby’s Room or some shit.”
As for Watt himself, he was just happy to be there: “It was amazing; it was pretty strange having durrrr at the final table. It would have been enough playing for a bracelet, but playing durrrr heads-up? It can’t get much better than that.”
Tom Dwan is making more bets
The WSOP 2010 Event #19 / $10,000 2-7 Draw Lowball Championship has begun. Altogether there are 101 world-class players in the tournament. For instance Phil Ivey, Billy Baxter, Tom Dwan, Barry Greenstein and Daniel Negreanu are in.
The winner of this tournament will earn over 294,000 dollars - which is actually quite a small sum for high stakes gamblers. Some players, like Phil Ivey and Tom Dwan, have also cheered up the game by making bets.
According to Pokernews.com Dwan would earn more than 880,000 dollars from the bet he made with Phil Ivey concerning the winner of this tournament. Also the other bets “durrrr” has made are still valid.
A while ago Dwan was leading the Event #19 but then he lost a big pot after which he is not very high on the list. You can follow the happenings from here.
Source: Poker News
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Tom Dwan (durrrr) Falls Short in WSOP Event #11
A rail filled with several notable high-stakes poker pros. Millions of dollars in prop bets on the line. And one of poker’s biggest names at the center of it all. That was the scene late Sunday night at the World Series of Poker (WSOP) as Tom “durrrr” Dwan was heads-up for his first bracelet, creating one of the most exciting non-Main Event final tables the WSOP has ever seen.
Many nosebleed players, including Mike Matusow, Daniel Negreanu, Eli Elezra, and David Benyamine, had bet six- and seven-figure amounts that Dwan would not win a bracelet this summer (each laid Dwan 3.5-1 odds). Most were on hand to watch Dwan at the final table of Event # 11, a $1,500 No Limit Hold’em tournament, where Dwan entered the final nine with the chip lead. The aforementioned pros were holding their collective breath as Dwan made his way closer to his ultimate goal, which allegedly would net him around $8 million on top of the $614,000 payday for first place.
After hours of nerve-racking play Dwan found himself heads-up with Simon Watt, a 27 year-old software developer from New Zealand. Watt held a significant chip edge over Dwan and used it to bleed Dwan down even further. Finally, a short-stacked Dwan moved all-in pre-flop for his last 1.6 million chips with Qd-6c and Watt called instantly with 9d-9c. The ESPN tournament area erupted, mostly with those calling for a Queen, but Dwan remained still in his seat as he watched the dealer reveal a board of As-Ac-8c-Ad-Kh. When the river card hit, Dwan shook Watt’s hand and quickly slipped out of the Amazon Room before any media personnel could reach him. He would come back to pick up his $381,885 payday on Monday.
After the madness at the Rio calmed, Watt told the media he had only one friend hiding in the enormous Dwan-backed crowd, Joe Ellis. But he now has some high-stakes poker pros that will consider him a buddy for life. Matusow, according to PokerNews, walked over to Watt after the match and said, “Thank you for saving us all millions of dollars. How does it feel to be every high-stakes gambler’s hero?” Meanwhile, Negreanu posted his “congratulations” to Dwan on Twitter: “Congrats to Tom Dwan! We were all rooting for you… To come second! Wow I escaped. What a sweat that was.”
Watt, who became the first ever bracelet winner from New Zealand, has only one other recorded major tournament cash in his poker career, a win at the PokerStars Asia Pacific Poker Tour (APPT) championship in Auckland. This was his first ever cash at the WSOP, one that he’ll certainly never forget. “It was amazing. It was strange,” Watt said after he was awarded his bracelet. “It would have been crazy enough to just make the final table. But to play against ‘durrrr’ heads-up made it much better.”
As for the 23-year old Dwan, the bet lives on, and he plans on playing every event he can until the WSOP concludes in July. Should he make another deep run in an event, we’ll have all the updates here at Poker News Daily.
Event #11 Results:
1. Simon Watt — $614,248
2. Tom Dwan — $381,885
3. David Randall — $270,299
4. Austin McCormick — $194,939
5. Jason Young — $142,346
6. Michael Smith — $105,185
7. Marvin Rettenmaier — $78,681
8. Kyle Winter — $59,547
9. Eric Ladny — $45,603
Tags: Daniel Negreanu, David Benyamine, gamble, poker player, pokerstars, Tom Dwan, tournament, WSOP