Poker News

Well, How Did I Get Here by Lee Jones

I made a pretty big laydown recently and was probably as proud of it as I was of any big pot I’ve won recently. Long ago, David Sklansky reminded us that a bet you don’t lose spends just as well as a bet you win.

This happened in a regular home game of mine; my knowledge of the players certainly helped my decision and emphasized the importance of paying attention to your opponents and learning their habits.

We were playing $1-$1 No Limit Hold’em, but that doesn’t really tell the story. As will happen in games without a buy-in cap, we had all ended up with stacks much bigger than the $100-ish that’s typical in online games with those blinds. I had over $400 and the stacks around me were of similar size or bigger.

Rory limped in for $1. Rory likes to play pots and could have just about anything. In middle position, Ben raised to $6, a fairly standard raise in this game. I looked down at J-T suited. Ben doesn’t usually open very light and big pairs made up a meaningful percentage of his pre-flop raising range. Those were exactly the hands that I was hoping to beat if I could hit a flop; I didn’t want a 4bet from Ben shutting me out of the pot early. I flat called.

Now, Steve called behind me. That made me upset. I should have looked left and thought about him. Steve likes to gamble, but he’s nobody’s fish and tends to do his gambling with position. I was stuck between Ben’s raise and Steve’s call behind me. I wished I had 3bet Ben and gotten the button; Steve would have folded anything but a premium hand to my re-raise. Now I’d made my bed and would have to lie in it.

My bed started to look like a feather mattress with silk sheets when the flop came down T-T-2 with two spades. My cards were red, but what did I care? I had just out-flopped all three of them (Rory had called the raise, saying something about pot odds). In particular, I thought I could stack Ben and his pocket queens or whatever big hand he had. Rory checked (as expected), but then Ben checked. Ruh-roh. If he had something like A-K, he wasn’t going to plow forward on a flop like that against three opponents. On the other hand, it would be very much in Steve’s idiom to pick up the $25 in the pot with a button bet and at least I could trap Steve for the probe bet he tossed out. I checked.

As he was supposed to, Steve bet $20. Then things really looked up. Rory called the $20.  Rory probably suspected Steve of the same thing I did and was hoping he could get Steve to slow down. Rory would make that play with as little as A-2 for bottom pair. I mentally locked and loaded a check-raise to about $75. That would blow them off whatever they had and I’d… “I’m all in.”

What?

Ben had paused briefly and then announced he was all-in for about $250. Suddenly, my world made far less sense. Ben is a thinking, competent player. He knows that Steve, Rory, and I are thinking competent players.

“Sorry, guys. This is going to take me a minute.” For years, when you needed an extra thought to make my playing decision, you simply said, “Time.” That would freeze the action for the extra handful of seconds and then you could act. However, in this world of televised poker tournaments, people confuse that announcement with somebody “calling the clock” on another player. “Are you calling the clock on yourself?” I’ve been asked. So, I’ve become more specific in my requests.

Ben would not play a big pair that way. If he had queens, he’d fire right into that pot and plan (hope) to take it down on the flop. Check-raising like that would only play right into the hands of somebody holding a ten. Either Steve or I could hold a ten and all of us knew it.

As I was pondering the situation, I experienced one of those exquisite moments of synchronicity that make you wonder about life. The Talking Heads were on the stereo and I found myself singing out loud along with David Byrne, “And you may say to yourself, ‘Well, how did I get here?’” Everybody chuckled and I relaxed. I couldn’t put Ben on a big pair no matter how hard I tried. He wasn’t making some Nth level sophisticated play against the entire field. He had the case ten and it was bigger than mine; he didn’t raise with T-9.

“I fold.”

Now it was Steve’s turn to tank. He didn’t take as long as I did, but he was obviously struggling. Odd – I thought that he was on a stone-cold steal. He folded relatively soon and it was on Rory. Even Rory had to have a think. Finally, he showed Ben a flush draw, threw it in, and said, “I don’t want to gamble.” “You’ve got a big ten,” I told Ben. “Close,” he replied, turning up pocket deuces; he’d flopped the full house. “Wow, I had jack-ten. I had four outs.” “No,” said Steve, “One out – just like me. I had pocket jacks.” Ben stared at us. “You folded jacks and you folded jack-ten?” We nodded.

You could see the wheels turning in Ben’s head. “What if I’d flatted Steve’s bet?” I laughed – “Oh, I check-raise to $75. Steve calls because he thinks I think he’s stealing. Rory calls for pot odds. You shove and who knows what happens at that point, but if we call, you have to fade two whole outs. You probably win a $500 or $600 pot.” Ben shook his head saying, “I guess I pulled the trigger too soon.”

I honestly don’t know if I could have made that laydown in the heat of a 15-second online decision. Fortunately for me, it happened where I had the time and the graciousness of my fellow players to let me work through the possibilities and make the right decision… instead of burning down the house.

Lee Jones is the Card Room Manager of Cake Poker and has been in the online poker business for over six years. He is also the author of “Winning Low Limit Hold’em,” which is in its 15th year of publication.

Brad Booth: “One or more $500/$1000 player will go broke soon”

Brad “yukonbrad” Booth lost his Full Tilt Poker Red Pro status just recently and now he speaks about the big online games.

Booth begins his blog estimating how big bankroll you should have on the recent nosebleed games people have been playing on Full Tilt Poker. His estimation is roughly 30-50 million dollars and he can think of only one person who has this kind of money. (Phil Ivey? -Editorial note)

He ponders the reasons why many top pro is willing to play these kind of games with inadequate bankroll. Why would they take this kind of huge risk? Do they think they have that big edge over other players or is it only some “clash of the egos”. Don’t they respect the value of money?

Booth believes that the above is true for most of the nosebleed players. He also predicts that one or more nosebleed pro will go broke if the games continue like this.

Booth uses Tom “durrrr” Dwan as an example: Dwan lost over half of his online winnings to Isildur1 in a short period and now Dwan needs to grind his bankroll up from the smaller games.

Even though durrrr’s games have gone well in the smaller games, Booth thinks that the winning can be a lot harder for him now as Dwan is a very known player and many players knows his playstyle and moves.

Source: Bluffmagazine

You just read Poker News from HighStakesNews.com

Brad Booth: “One or more $500/$1000 player will go broke soon”

Top 5 of 2009: The Emergence of Luke Schwartz

With an eye on the great poker personalities that have made the scene and the interesting fodder they’ve provided for us over the past 12 months, we’ve come up with our very own Top Five Poker News Stories of 2009.

The plan is to present them to you every other day from now until New Year’s Eve and we will start today with No. 5: The Emergence of Luke Schwartz.

By March of this year, the name __FullFlush1__ was on the tip of the entire poker world’s tongues.

The ever brash and always outspoken UK based player had jumped up to the highest stakes games online and was posting massive profits against the likes of Tom "durrrr" Dwan, David "Raptor" Benefield and Phil "OMGClayAiken" Galfond.

But it was the way he was doing it that had him dominating poker headlines. Coming seemingly out of nowhere, the unknown Brit challenged poker’s best and brightest not just on the virtual felt, but in the chatbox as well.

Calling Dwan things like "durrrr-balls" and the rest "OMGweNerds," FullFlush’s visceral brand of chat provided endless entertainment for railbirds and an image for himself as poker’s next bad boy.

When PokerListings finally talked to the man behind it all for an exclusive interview at the end of March, his real life persona was far from disappointing.

A 25-year-old Londoner by the name of Luke Schwartz who had built a massive roll on Euro sites like Betfair before taking a shot at the nosebleed stakes on Full Tilt, he called durrrr a “nonce-cake,” trashed-talked high stakes mainstays like the Dang brothers and threatened to send the lot of them broke.

An interview with Schwartz read just like some of his best chatbox rants and the public, who either loved him or hated him, lapped it up.

"Poker needed a new kind of bad boy and Luke fit the bill," said noted author and the voice of poker in Europe Jesse May. "I can't even remember now how we could talk about poker without using terms like 'railtard', 'woteva', and 'got the jakey on.' His mouth and style got him his first five minutes of fame, but what will ensure that Luke stays around is the fact, surprising to some, that he is clearly one of the top poker players in the game."

By September, Schwartz had pulled seven figures numbers out of Full Tilt and bought himself some property in London, stepping away from the high stakes online games – But not the headlines.

Barred from playing at the World Series of Poker Europe for an incident at London’s Victoria Grosvenor Casino where he’d refused to remove his hat, PokerListings found Schwartz on the rail at the event.

It took all of one minute before he launched into a tirade against his online nemesis Dwan.

“I just can't stand durrrr,” he said. “I can't stand durrrr's face, durrrr's voice, and durrrr's eyes. I can't stand anything about durrrr.

“I'm sending him broke before the end of 2010. That's my goal.”

With a little help from some friends in the industry, Schwartz got the ban lifted just weeks later, in time to play at PokerStars EPT London, where he made headlines once again for something other than playing cards.

This time it was a sandwich he refused to pay for after busting out of the event, claiming he’d paid enough in tournament fees to cover it, was a VIP and should be treated as such.

The result was another ban from UK casinos and one of the most talked about events of the poker world’s annual fall pilgrimage to London.

But those who thought “Sandwichgate” would be the last they’d hear from Schwartz were sorely mistaken.

By the end of the year his poker playing skills were back on display as he managed to final table both the Full Tilt Poker Million and PartyPoker World Open, two of the biggest televised tournaments in Europe.

Plus, although he hasn’t stepped back into the high stakes games yet, a little advice from him helped an unknown Swede going by the name Isildur1 take a huge chunk out of Dwan’s online roll.

"Luke has shown that he has the walk to back up the talk," added May. "And in a feat of true deception, behind all the bluff and bluster, Luke Schwartz happens to be a very good guy. He is an Ali G of poker for the decade to come."

Poker fans love a winner, but they love a character even more.

Luke Schwartz appears to be both and as a result, his emergence as poker’s next bad boy is No. 5 on PokerListings’ Top Five Poker News Stories of 2009.

PokerListings has criss-crossed the planet this year bringing you the biggest and best poker news from every corner of the globe.

Now that 2009 is coming to a close, we’ve decided to sift through the literally thousands of headlines searching for the year’s top stories.

With an eye on the great poker personalities that have made the scene and the interesting fodder they’ve provided for us over the past 12 months, we’ve come up with our very own Top Five Poker News Stories of 2009.

The plan is to present them to you every other day from now until New Year’s Eve and we will start today with No. 5: The Emergence of Luke Schwartz.

By March of this year, the name __FullFlush1__ was on the tip of the entire poker world’s tongues.

The ever brash and always outspoken UK based player had jumped up to the highest stakes games online and was posting massive profits against the likes of Tom "durrrr" Dwan, David "Raptor" Benefield and Phil "OMGClayAiken" Galfond.

But it was the way he was doing it that had him dominating poker headlines.

Coming seemingly out of nowhere, the unknown Brit challenged poker’s best and brightest not just on the virtual felt, but in the chatbox as well.

Calling Dwan things like "durrrr-balls" and the rest of his crew as "OMGweNerds," FullFlush’s visceral brand of chat provided endless entertainment for railbirds and an image for himself as poker’s next bad boy.

When PokerListings finally talked to the man behind it all for an exclusive interview at the end of March, his real life persona was far from disappointing.

A 25-year-old Londoner by the name of Luke Schwartz who had built a massive roll on Euro sites like Betfair before taking a shot at the nosebleed stakes on Full Tilt, he called durrrr a “nonce-cake,” trashed-talked high stakes mainstays like the Dang brothers and threatened to send the lot of them broke.

An Interview with Schwartz read just like some of his best chatbox rants and the public, who either loved him or hated him, lapped it up.

By September, Schwartz had pulled seven figures numbers out of Full Tilt and bought himself some property in London, stepping away from the high stakes online games – But not the headlines.

Barred from playing at the World Series of Poker Europe for an incident at London’s Victoria Grosvenor Casino where he’d refused to remove his hat, PokerListings found Schwartz on the rail at the event.

It took all of one minute before he launched into a tirade against his online nemesis Dwan.

“I just can't stand durrrr,” he said. “I can't stand durrrr's face, durrrr's voice, and durrrr's eyes. I can't stand anything about durrrr.

“I'm sending him broke before the end of 2010. That's my goal.”

With a little help from some friends in the industry, Schwartz got the ban lifted just weeks later, in time to play at PokerStars EPT London, where he made headlines once again for something other than playing cards.

This time it was a sandwich he refused to pay for after busting out of the event, claiming he’d paid enough in tournament fees to cover it, was a VIP and should be treated as such.

The result was another ban from UK casinos and one of the most talked about events of the poker world’s annual fall pilgrimage to London.

But those who thought “Sandwichgate” would be the last they’d hear from Schwartz were sorely mistaken.

By the end of the year his poker playing skills were back on display as he managed to final table both the Full Tilt Poker Million and PartyPoker World Open, two of the biggest televised tournaments in Europe.

Plus, although he hasn’t stepped back into the high stakes games yet, a little advice from him helped an unknown Swede going by the name Isildur1 take a huge chunk out of Dwan’s online roll.    

Poker fans love a winner, but they love a character even more.

Luke Schwartz appears to be both and as a result, his emergence as poker’s next bad boy is No. 5 on PokerListings’ Top Five Poker News Stories of 2009.

Patrik Antonius talks about Isildur1

FBI Issues Online Poker Findings; PPA Responds

Online poker players tuned into last week’s House Financial Services Committee on internet gambling can recall a letter cited by Congressman Spencer Bachus (R-AL) that claimed online poker games could be compromised.

The memo, dated November 13th and written by FBI Cyber Division Assistant Director Shawn Henry, addresses six questions put forth by Bachus regarding the current state of affairs in the online poker world. The report states, “The technology exists to manipulate online poker games in that it would only take two or three players working in unison to defeat the other players who are not part of the team.” Henry’s analysis speculates as to whether online poker sites would spend the time and money needed to combat these tag team maneuvers: “It really comes down to a cost analysis for the vendor. How much money will I make or lose by detecting cheating and implementing safeguards?”

The letter from Henry then addresses money laundering possibilities in private online poker tournaments before Bachus asked if “qualified personnel” existed to regulate the game should it be legalized. Henry responded, “FBI investigative resources are focused on our highest priorities, that being counterterrirosm, counterintelligence, and cyber threats to critical infrastructure.” No mention of online poker or internet gambling is given in Henry’s response to this question.

Henry questions the age and location verification mechanisms that online poker sites currently have in place. Henry responds, “For age verification, the possession of a credit card is usually the only validation these sites require. Credit card numbers are easily compromised and can be bought by the hundreds on several ‘underground’ websites.” On the question of location verification, Henry asserts, “While geolocation can be accurate when used to determine the physical country of residence, it becomes exponentially less accurate when determining the city or zip code.”

Also discussed in the letter from the FBI Cyber Division official are bots, programs against the Terms of Service of most major sites. In addition, Bachus asks whether U.S. law enforcement officials have had any conversations with their counterparts overseas where internet gambling is regulated about “potential vulnerabilities.” Henry emphatically claims, “The FBI has not engaged in this discussion with our foreign partners.” On casino bot programs manipulating online games, Henry admits, “While casino software could very easily be employed to manipulate games, the FBI has no data in this area.”

The Poker Players Alliance (PPA) was quick to point out the pitfalls of Henry’s letter. Its Executive Director, John Pappas, charged, “Every concern the letter raises is better addressed by licensing and regulation than by prohibition. The letter misconstrues much about the current state of online poker, but it does so in a way that clearly makes the case for why federal oversight is necessary. Licensing and regulation is the most protective measure we can take to ensure the online community can be properly monitored while maintaining our internet freedom.”

The PPA added that Congressman Peter King (R-NY), the current Ranking Member and former Chairman of the Committee on Homeland Security, conveyed that money laundering and terrorism financing were not taking place through internet gambling. The PPA explains that online poker sites use credit databases to address age and location and that the Department of Justice has never found evidence that organized crime benefited from internet gambling. In total, the lobbying group notes, “In defense of Mr. Henry’s letter, it is intended to address the status quo, not the internet poker landscape under HR 2267.”

Age verification was one of the many issues discussed at last week’s hearing, which focused on HR 2267. The bill, proposed by Congressman Barney Frank (D-MA) crafts a complete licensing and regulatory framework for the internet gambling industry in the United States.

Online Poker May Be Coming to Quebec, British Columbia

Quebec, British Columbia, and the four Atlantic provinces of Canada may soon see legalized and regulated online poker headed their way, according to an article that appeared in the Montreal Gazette newspaper.

Loto-Québec has submitted a proposal to the province’s government “for an internet wagering initiative in partnership with British Columbia and the four Atlantic provinces, which already have limited online gaming,” according to the Canadian news outlet. Loto-Québec claims that Canadians are currently placating more than 2,000 offshore internet gambling outfits, sending nearly $700 million in wagers away from the country each year, a number that will likely top $1 billion in three years.

Quebec plays home to the Kahnawake Gaming Commission (KGC), which is located on the Indian reservation of the same name outside of the city. Although the KGC is not currently linked to Loto-Québec’s endeavors, the organization’s Chairman, Dean Montour, told the Montreal Gazette, “The fact that Quebec is now entering the online gaming business in partnership with the Atlantic provinces and British Columbia is an indication that the industry is thriving and is gaining wider acceptance. For over 10 years, the Kahnawake Gaming Commission has had a positive working relationship with online gaming regulators throughout the world and looks forward to sharing its knowledge and experience with the Régie des alcools des courses et des jeux.”

The KGC is fresh off completing the investigating surrounding Ultimate Bet, an online poker site that recently changed its name to UB.com. In a September report, the KGC continued to finger former World Series of Poker (WSOP) Main Event champion Russ Hamilton as the mastermind behind the scandal and noted that 31 other individuals were involved, but would not identify who they were. The KGC also issued over 100 screen names associated with the misgivings, a list that included “nvtease,” “Sleeplesss,” and the infamous “NioNio.”

Given the seemingly “Wild West” atmosphere of the internet, Canadian control of the online poker industry will likely bring a considerable amount of validity: “The integrity of the online games often is dubious, as it was for some lotteries and VLTs before Loto-Québec was mandated by the government to funnel them into controlled circuits and oversee them,” noted Loto-Québec President and CEO Alain Cousineau. Loto-Québec added $1.4 billion to the bottom line of the province during the last fiscal year.

Potentially adding to the pressure of Loto-Québec to legalize and regulate the internet version of the age-old card game is a move towards licensing in the United States, spearheaded by Congressman Barney Frank (D-MA). Back in May, the lawmaker introduced HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act, which establishes a full framework for legalized internet gambling in the USA. The measure is up to 63 co-sponsors, including Anthony Weiner (D-NY), who signed on four days ago. The Poker Players Alliance (PPA) expects HR 2267 to be marked up in the House Financial Services Committee, of which Frank is the Chair, in January. Other reports signal that markup is coming in December.

On December 1st, the financial services industry in the United States must fall into full compliance with the regulations of the Unlawful Internet Gambling Enforcement Act (UIGEA), which was passed three years ago. The PPA and other organizations have been feverishly working to delay the compliance date by one year, but so far, pleas to Federal Reserve Chairman Ben Bernanke, Treasury Secretary Timothy Geithner, and the U.S. Congress have not been heeded.

Earlier this year, it was revealed that the newly-created Harrah’s Interactive Entertainment (HIE), headed by former Party Gaming CEO Mitch Garber, would be based in Montreal. Former WSOP Commissioner Jeffrey Pollack was originally slated to be HIE’s President, but recently parted ways with the Las Vegas-based gambling giant.

Entraction to Close CardRoom2

This week, Entraction officials announced plans to shutter CardRoom2, which makes its home on Boss Media’s International Poker Network. Entraction Network sites include Devilfish Poker and NoiQ Poker.

The room will be closed no later than the end of the 2009 calendar year. A statement released by Entraction noted, “Entraction has decided to close Cardroom2, [which] enables players in Entraction’s network to play on the [International Poker Network]. The traffic between the networks is not extensive and Cardroom2 only represents approximately 5% of Entraction’s revenues from poker.” Entraction had already terminated its agreement with Boss Media.

According to the traffic ranking site PokerScout.com, the International Poker Network is the ninth largest worldwide with a seven-day running average of 1,860 real money ring game players. During its peak hours, nearly 3,700 can be found battling it out on the felts of the Boss Media property. At the time of writing, which is late afternoon throughout Europe, 3,100 players are seated at its cash game tables. The International Poker Network’s family of sites, which is now devoid of CardRoom2, includes BetClick, Extreme Poker, InterPoker, Paradise Poker, and Total Poker.

The Entraction Network is comparatively smaller, registering as the 11th largest worldwide with a seven-day running average of 1,320 real money ring game players. Besides Devilfish Poker and NoiQ Poker, other Entraction Network sites include 24h Poker and i4Poker, which also offers an International Poker Network option.

Peter Åström, CEO Entraction, commented in a press release distributed by the company this week that Entraction Network’s popularity led to the decision to close CardRoom2: ”Cardroom2 has been a good possibility for players to play in two different networks using one account. Because of the strong growth in the Entraction poker network, there is no longer a need for Cardroom2.” Neither the Entraction Network nor International Poker Network allows players from the United States.

Last month, Entraction officials announced that the network was adding Live Casino games to its offering. Evolution Gaming brought Live Casino games to life and the partnership meant that baccarat, blackjack, and roulette would make their debut on the Entraction Network in the spring of 2010. On the company’s business-to-business agreement with Evolution Gaming, Åström commented, “We see strong growth in casino and Live Casino completes our strong casino offering. Our approach to always put the partner first alongside our complete portfolio of products and services for online gaming makes us an attractive partner for established gaming operators, media companies, and other companies with strong brands that want to offer their customers online games.”

On November 5th, Entraction will reveal its financial results for the third quarter of 2009. Its stock is listed on the NASDAQ OMX First North Premier exchange and, at the time of writing, was trading at $57.25, down $0.75 on the day, or 1.29%. Its stock price jumped to nearly $60 on word that CardRoom2 would be closed. The company itself is based in Stockholm and was founded in 2000.

Devilfish Poker is home to the bad boy of poker himself, David “Devilfish” Ulliott. The poker pro took down the World Poker Open during Season I of the World Poker Tour (WPT) for $589,000. Five seasons later, he grabbed third in the Doyle Brunson Five Diamond World Poker Classic at the Bellagio for $674,000. He participated in the WPT’s Bad Boys of Poker during Season II and won a $2,000 buy-in Pot Limit Hold’em event during the 1997 WSOP for his first (and so far only) bracelet. That event saw Ulliott outlast Poker Hall of Fame nominee Tom McEvoy, Full Tilt Poker pro Chris Ferguson, Paul “Eskimo” Clark, and Stan Goldstein at the final table.

Gus Hansen’s Downswing Over 6 Million Dollars

This year might be one of the hardest ones for Gus Hansen. His online games are down over 6 million dollars already.

Gus Hansen doesn’t cause fear in his fellow players at the Full Tilt Poker high stakes games. Many players have said that they want Hansen against them after he’s on tilt or tired. This might be true as his losses for 2009 are already over 3 million dollars, but you must remember that he made the same amount of profit earlier this year.

Early 2009 looked promising

In January 2009 Hansen had won $2,79 million. February was a bit worse as he lost some money, but again in March he was winning and Hansen’s profit for the year peaked up as he was up 3.21 million dollars.

After that Hansen hasn’t been able to win big time. Occasionally you can see him winning a bit, but then in the next session he would lose. After March he hasn’t made any winning months at all.

Deepest pit in Hansen’s career

Hansen’s dowswing is scaling into massive proportions because he has managed to lose twice as much as he had won earlier this year. At the Moment his graph shows some bleak numbers. He is down -$2.925.000 this year. When you add that 3.21 million dollars to that, his downswing gets into astronomical figures: $6.13 million.

Just a few of the hands he has played this year:

Hansen’s trips holds against durrrr and trex313, $537k pot

durrrr hits straight flush against Hansen’s K-high flush, $672k pot

durrrr has kicker problems, $478k pot

Source: highstakesdb

You just read Poker News from HighStakesNews.com

Gus Hansen’s Downswing Over 6 Million Dollars

WPT May Face $1 Million Penalty for Canceling Gamynia Limited Sale

As part of an agreement forged between World Poker Tour Enterprises (WPTE) and Gamynia Limited earlier this month, WPTE officials may be subject to a $1 million penalty should the company call off the sale.

On August 3rd, a filing to the Securities and Exchange Commission (SEC) obtained by Poker News Daily notes, “If Buyer terminates this Agreement… within five (5) Business Days after the date of such termination, Seller shall pay the amount of One Million Dollars (US$1,000,000)… by wire transfer of immediately available funds to one or more accounts specified by Buyer in writing.” As revealed in an SEC filing on Tuesday by WPTE, the company had received an “alternative acquisition proposal.” No details of the second WPTE bid were given, although information should be released in the near future.

If Gamynia Limited were to back out of the deal, it would be subject to the $1 million termination fee. Gamynia Limited agreed to purchase several of WPTE’s assets for $9.075 million plus 4% of Gross Gaming Revenue, 5% of Sponsorship Revenue, and 5% of other Miscellaneous Revenue. Gamynia Limited must pay the subsequent revenue monthly, no later than 15 days after the start of each calendar month. Gross Gaming Revenue is defined as money derived from the use of WPTE trademarks in live or online games. Gamynia Limited has solicited the involvement of Hardway Investments, which works with Playtech and Titan Poker, among other internet gambling clients.

As per the terms of the SEC filing, the WPTE agreed to hand over trademarks, brand names, and logos for its popular poker tournaments, including the company’s massive television library. Graphics, artwork, and designs will also be absorbed by Gamynia, which has an address listed on SEC forms in Cyprus. Gamynia will also purchase domain names and intellectual property currently owned by the WPTE.

WPTE will retain its cash and accounts receivable balances as of the closing date. In addition, the WPTE will keep “all rights of Seller with respect to the China Venture, whether arising before or after the Closing Date.” WPTE officials shuttered WPT China in May after the business unit had lost nearly $1 million during the first quarter of 2009. The $9.075 million sale price must be paid via bank wire within 72 hours of the expected date of closing.

On Tuesday, WPTE filed a terse statement to the SEC that read, in part, “The Company’s Board of Directors has received an alternative acquisition proposal and is following the process required by the Purchase Agreement. Until the process required by the Purchase Agreement is completed, the Company will delay the filing of a preliminary proxy statement with the SEC.” No information about the second buyer or what prospective terms would entail was given.

In its original filing outlining the sale, WPTE officials included the following provision applying to two of its executives: “Mr. Rohin Malhotra and Mr. Adam Pliska will each receive 18 months of severance if a sale of the Company’s assets to two specific potential buyers closes in 2009. Gamynia Limited is one of the two specific potential buyers.” The text is part of an amendment to the SEC filing and indicates that WPTE officials likely knew about the second bid when the original sale was announced.

After jumping nearly 20% on Wednesday with the news of a second buyer, shares of WPTE, which are traded on the NASDAQ Stock Exchange under the same four-letter acronym, were trading at $1.01 to close the day, down $0.08, or 7.35%. Prior to Wednesday, the stock had spent the last 10 days trading below $1.

WPTE officials could not comment on rumors of a second buyer due to SEC regulations. Thomas Flahie, the Chief Financial Officer (CFO) of WPTE, told Poker News Daily that he plans to file a proxy form to shareholders that will likely include the details of the second offer. Then, the shareholders will vote “Yay” or “Nay” on the Gamynia sale. We’ll keep you posted on the latest developments right here on Poker News Daily.

ESPN Inside Deal Welcomes Dennis Phillips

This week’s edition of the ESPN poker show “Inside Deal,” which airs on ESPN.com, featured 2008 World Series of Poker (WSOP) November Nine member Dennis Phillips and a revealing phone conversation with WSOP Commissioner Jeffrey Pollack.

The show opened in its usual witty style, with “Inside Deal” Host Laura Lane trying to find Phillips to commence taping. ESPN employees and co-host Bernard Lee were all dressed like the former truck salesman, donning red St. Louis Cardinals hats and white collared shirts complete with logos. “Inside Deal,” which is sponsored by PokerStars.net, began its 40 minute show by discussing new legislation introduced by Senator Robert Menendez (D-NJ) to regulate online games of skill like poker in the United States. Poker News Daily was sourced on the story, with Lee commenting, “This is a revised bill that Senator Menendez introduced in 2008. The previous bill focused on just skill games. This specifically focuses on online poker.” The bill is numbered S 1597.

Discussion on “Inside Deal” then turned to the recent sale of the World Poker Tour (WPT) to Gamynia Limited. Lee gave his take on what the sale of the hallmark tournament series means for players: “For the Tour, time will tell. For the 2009-2010 season, there won’t be too many changes.” Lee then noted that legalized and regulated online poker in the United States would mean a dramatic increase in qualifiers for WPT events. “Inside Deal” broke down the results of its sponsor’s weekly online poker major, the Sunday Million, and discussed the death of PokerListings founder Andreas Oscarsson.

Pollack called in for “Inside Deal’s” first telephone interview. He gave a preview of the 2009 WSOP Europe festivities, which kick off on September 19th from London. Pollack explained a potential solution for the sellout of Day 1D of the 2009 WSOP, which left more than 500 players shut out of the game’s most prestigious tournament: “We’re going to continue to have pre-registration open months in advance. I think we’re going to allow players to select their start date for the Main Event until a certain point. After that, we’re going to select their start date so the days are properly balanced.” Among those left out in the cold on Day 1D were Durrrr Challenge participant Patrik Antonius, Poker Hall of Fame member T.J. Cloutier, and five-time WSOP bracelet winner Ted Forrest.

Phillips joined the show to talk about his interactions with members of the 2009 WSOP November Nine and his experience at National Poker Week in Washington, DC. On the latter effort, which was organized by the Poker Players Alliance (PPA), Phillips recalled, “I honestly believe there will be a compromise between the two [internet gambling bills in the House and Senate]. They will come together with something. My hope is that in the next 12 to 18 months, this farce of a law they have will be amended.”

Phillips divulged the secrets to his deep runs in the 2008 and 2009 Main Events, where he finished 3rd and 45th, respectively, and relived throwing out the first pitch at a Cardinals baseball game. On November Nine member and CardPlayer Editor Jeff Shulman, who has threatened to throw out the bracelet should he win the Main Event, Phillips commented, “Even if he felt it, to come out and publicly state it is horrible. It’s repulsive to me that he’d consider throwing it away.”

ESPN Poker Editor Andrew Feldman then joined the “Inside Deal” set in Bristol, Connecticut to review Sexy Poker for the Nintendo Wii, which resembles a game of strip poker. Discussion of the game was a segue for forecasting technological breakthroughs in the game, with Lee suggesting that tournament officials mic up every player at a final table and use interactive cameras to divulge tells. Feldman also discussed World Team Poker, whose first match-up pits Phil Hellmuth’s Team USA against Men “The Master” Nguyen’s Team Vietnam. Phillips recalled Danes rooting for Peter Eastgate and Russians cheering for Ivan Demidov during the 2008 WSOP Main Event final table as examples of how team poker may have a bright future.

An unaired exit interview with Dan Harrington following his elimination from the WSOP Champions Invitational aired and Lee broke down Eastgate’s one-outer against Scott Montgomery during last year’s Main Event finale. New episodes of “Inside Deal” are released every Tuesday on ESPN.com.

Ziigmund wreaks havoc on Full Tilt Poker

Ziigmund won the four biggest pots over the past 24-hours against players like Tom "durrrr" Dwan, Gus Hansen and Cole South.

In the biggest hand of the session, Ziggy got a little lucky against durrrr to turn a straight after all the money went in on the flop with Dwan holding the lead. Thanks to the turn card, Ziigmuund was shipped a massive $336,597 pot.

In the second largest hand of the session, Sahamies flopped a set of aces and got paid off by Hansen to the tune of $284,000.

After that he rivered a straight against a resurgent South to win a pot worth $264,598.

Sahamies total profit for the session was unknown, but if you add up the top four hands in the last 24 hours, you'd arrive at approximately $1.1 million, although he definitely sustained some losses as well.

Gus Hansen won several big pots as well and one has to wonder if the "Great Dane" is involved in some kind of prop bet forcing him to play every day.

The Team Full Tilt pro has been an utter maniac over the last couple weeks in an attempt to either get back to even for the year or grind out a few frequent player points.

Check below for a video replay of Ziigmund's top three biggest hands:

Straight ballin'.

More from Ziggy.

Even more Ziigmund.

Mike Sexton Reviews the WSOP November Nine, WPT Bellagio Cup

We just started our eighth season of the World Poker Tour (WPT).  It’s actually pretty amazing to think we’ve been on television for seven seasons!  And it’s more amazing how time flies.

Season VIII kicked off at Bellagio in July with a $15,000 buy-in for the Bellagio Cup V.   268 players were looking to take down the nearly $1.2 million first place prize.  It was a strong field and a very tough final table.  Erik Seidel, who was going for his second WPT title, said that it was the toughest final table in WPT history.  I’m not sure I’d agree with that, but it was a very strong group.

One thing I do know is that the six finalists set an all-time WPT record by playing the longest six-handed before losing a player at 103 hands.  And congratulations to our first WPT champ from Brazil, Alexandre Gomes.  Here are the final standings and payouts from the Bellagio Cup:

1st Place: Alexandre Gomes - $1,187,670
2nd Place: Faraz Jaka - $774,780
3rd Place: Justin Smith - $464,870
4th Place: Alec Torelli - $271,165
5th Place: Christoffer Sonesson - $203,385
6th Place: Erik Seidel - $164,640

The thing people will probably remember most about this final table was that we had our first physical injury due to excessive celebration.  Justin Smith, a very tough young player, drew out to stay alive on one hand and started jumping around, injuring his Achilles heel.  What’s really unusual about this is that Justin is one of the quietest people I’ve ever played with.  He’s one of the last guys you would expect to be jumping up and down.  To those who question whether poker is a sport, you can now say, “Well, players do get injured when playing in tournaments.”

The 2009 World Series of Poker (WSOP) closes with the Main Event final table in November.  Congratulations to all of the November Nine, the phrase used for those who make it to the Main Event final table.  They outlasted nearly 6,500 players to reach the final table.  The monster chip leader is Darvin Moon, an amateur player from Oakland, Maryland who got in this tournament by winning a satellite.  He’s a logger by trade and is playing in his first-ever WSOP tournament.  Could we have a second coming of Chris Moneymaker?

ESPN and the WSOP can thank their lucky stars that the guy many would consider to be the most famous poker player in the world, Phil Ivey, is one of the November Nine.  Ivey already won two bracelets at the 2009 WSOP and is going for his ninth overall!  My guess is that ratings will be more than double last year’s show primarily because Phil Ivey will be on it.  And I have no doubt that every promo about that show will include Phil Ivey (and if they don’t, they should).

If it seems like I’m a big Phil Ivey fan, it’s because I am.  Even though he’s only 33, he is the best player (and that means the most successful) in virtually every category in poker - live games, tournaments, and online.  I’ve always thought that Chip Reese made more money playing poker than anyone in history, but I now believe Ivey has gone by him due to the high-stakes cash games that they’re playing nowadays, the big-time tournaments, and the monster games online.

Ivey really is incredible. Make no mistake about it, his poker resume is unmatched by anyone.  He destroys the biggest cash games and online games and will become the all-time leader in tournaments if he finishes in fifth place or better in November.   Whether he likes the name or not, Phil Ivey is the “Tiger Woods of Poker.”  I, for one, will be pulling for him to win in November.

On a personal note, I had a shot and made the money in the Main Event, finishing around 400th or so.  I won’t bore you with my bad beat story, but it was pretty ugly.  It’s the seventh time I’ve finished in the money in the Main Event even though I didn’t start playing it until 1992 and missed it about three times along the way.  That ties me with the likes of Doyle Brunson, Phil Hellmuth, and Jay Heimowitz for second place all-time cashing in the Main Event and second only to Berry Johnston, who has finished in the money 10 times.

I’m looking forward to next year’s Main Event already!  Hope to see you there.

Benyamine wins $180k pot from Hansen

The French Pot-Limit Omaha specialist has raked in millions at the high-stakes online games in the past, so it's a bit of surprise that he's down nearly $800,000 in 2009, especially considering PLO is played almost exclusively at the nosebleed stakes these days.

But by taking on all comers last night on Full Tilt, including Gus Hansen, Rafi "howitfellslike" Amit, luckexpress10, Phil Ivey and HarrisMP, Benyamine did his best to try and erase some of his losses.

In the biggest pot of the session, Benyamine and Hansen got it all-in on a Q 6 5 flop with straight draws and flush draws. Both players ended up making a straight, but Mr. B's was bigger.

It's unknown what exactly Benyamine left the tables with, but he did take at least two more pots worth over $50,000 from Hansen as The Great Dane's disastrous downswing continues.

The Danish pro is now down nearly $900,000 after being up as much as $2 million in 2009.

One might think it's been a bad year for Team Full Tilt Pros, but although he still finds himself down in the durrrr Challenge, Patrik Antonius is doing his best for the team, having already amassed approximately $4.5 million in profits online in 2009.

Check below to see videos of some of the best Hansen vs. Benyamine hands:

Nice hand, Mr. B.

Hansen gets one back.

More Benyamine.

Ivey Returns to his Ivory Tower

We haven’t seen Phil Ivey on Full Tilt lately, but now he has made a glorious comeback to the biggest online games there are.

Ivey has been very busy at Bobby’s Room playing for millions and millions of dollars and of course getting into November Nine of WSOP, so from his view the past online winnings might seem quite mediocre. But $750.000 in a few days after the long hours at WSOP and Bobby’s Room is just incredible.

Only just a few days ago Ivey logged on to Full Tilt and made sure he’s still the king of the tables. He started quite slowly with only three tables and managed to squeeze more money than those who played 6-8 tables.

$246.000 pot where Ivey had nut straight against Di “Urindanger” Dang’s nut flush draw on the flop:

Ivey on fire

Hopefully we will see much more action from mr. Ivey in the future!

Source: highstakesdb.com

You just read Poker News from HighStakesNews.com

Ivey Returns to his Ivory Tower

Phil Ivey Returns to Full Tilt; Wins $750,000

The Online Railbird Report Vol. 23: Jedlicka Soars in Resurgent $200/400 PLO Action

Return of KaiBuxxe? Jedlicka wins $1 million

Unfortunately for the young Austrian all good things must come to an end and, thanks to a combination of poor table selection (hello Phil Ivey!) and poor bankroll management, Jedlicka soon donated a great deal of his winnings back to the other high stakes sharks.

Suffice to say, Jedlicka disappeared from the high stakes online games for a while.

But last night he tried to make up for lost time by winning over $1 million from players like Tom Dwan, David Benyamine, David "Raptor" Benefield, Cole South and Patrik Antonius.

Playing a combination of $200/$400 6-Max PLO and $300/$600 6-Max PLO, Jedlicka was able to drag several monster pots worth over $100,000 each. In his biggest win, Jedlicka rivered the nut-straight on a Q J 5 J T board to win $161,447.

On the other side of things, Dwan was the biggest loser, dropping close to $850,000, which was close to the total amount he won the day before. After being down nearly $4 million earlier this year, Dwan is still up over $1 million in 2009.

The high stakes PLO games on Full Tilt Poker continue to be incredibly well-populated and it's likely we'll see more action featuring the game's biggest names before the end of the week.

Perhaps it's a combination of the lack of major live tournaments currently running or that players are looking for something to get over the WSOP hangover, but the games are busier than they've been all summer.

We're still waiting on some $500/$1,000 action, however.

You can check out several examples of Jedlicka's work from last night in the PokerListings' hand-replayer below:

Nikki Jedlicka 1

Nikki Jedlicka 2

Nikki Jedlicka 3

Are Online Games Too Nitty on Stars and Full Tilt?

Like many players out in the general poker-playing public I play primarily at two poker rooms, PokerStars and Full Tilt Poker. With both sites offering VIP programs and one offering rakeback (Full Tilt), their traffic dwarfs the competition. However, since the inception of the UIGEA many regular cash game players feel like each level’s action has gotten progressively “better” in the sense that the players are generally more tight and aggressive than they were years ago. With the ability to massively multi-table (for example 24-tabling on PokerStars) to simply grind a small profit and enjoy the cash bonus rewards, players have all the incentive to play super nitty poker and make good money. Those that don’t – or can’t – play 24 tables for 12 hours a day 6 days a week, are left grinding a modest profit and generally play tight poker themselves.

For many cash game regulars on either one of those two major sites, it’s hard to argue that during non-peak weekend hours, finding 6-9 good tables can be a bit of a chore. During off-peak hours the ability to find 6 full ring tables with table VPIP (Volume put in the pot) over $20 can be darn near impossible at the $0.50-$1 blind (or more) tables. What are the reasons that cause this phenomenon?

1. The UIGEA killed a lot of the regular action from recreational fish that used to come on the site, dump a few grand, and come back for more losses. The wild action these players created is simply a thing of the past.
2. Players that haven’t lost their bankrolls are simply getting better and better at poker. With popular community forums and online poker schools, there have never been as many immediate resources to become a better player quicker in the history of the industry.
3. The blind structures of the cash games might be outdated for today’s action-centric culture when combined with the ability to bring in big profits from VIP programs or rakeback.

Maybe this article is simply a call for a return to “the good old days of Party Poker in the USA” when table VPIPs at full ring were 35+, but the fact remains that many think the full ring (and even 6max tables) are too nitty for their own good and that the games are drying up – if they aren’t dried up already – on these two sites. Many feel moving to one of the lesser trafficked sites like iPoker or Cake can really be a benefit in terms of easier competition and more fish. Others will say that even the games on Cake, for example, aren’t what they were a couple of years ago at the higher limits and the perception of massive fish at those sites is simply false.

So what can sites like PokerStars and Full Tilt Poker do to potentially increase the action on their sites? Many players who host regular cash home games like to alter the blind structure of No Limit Hold’em games or even add an ante, similar to what they do on the popular High Stakes Poker television program.

Let’s look at some ideas we’ve researched around the net and consider some of the possibilities that a poker room can put into place to create what we will call “Action NL Hold’em Tables” that offer up a looser and more exciting brand of Hold’em poker.

1. Create a one-half small blind ante from all players. This would immediately create a larger starting pot, forcing players not to sit back and only play the top 12% of their hands.
2. Instead of one small blind and one big blind, the table could offer one small blind and two big blinds. Given the antes in the last suggestion this creates a lot of money on the table for each hand dealt.
3. Allow a single player to play on no more than 4 to 6 “Action NL Hold’em Tables” at a single time. This way a player can’t simply sit back and play on 12-20 tables waiting for the nuts, but they would be forced to play fewer tables, forcing their attention to the action they are in and not letting them wait around to peddle for the nuts.

If we look at a potential table at $0.50-$1 the start for each hand could look like:

9 Players all ante $0.25 = $2.25
1 Small Blind of $0.50 = $0.50
2 Big Blinds of $1.00 = $2.00

Each hand dealt starts with $4.75 in the pot (almost 5 big blinds) which tremendously adjusts the odds for each player’s starting hand. Opening raises would have to be adjusted from the $3.50 to $4 they are now at these tables to about $10-$12 creating even more action. All this would mean bigger pots, more action, and a lot more rake for the sites. This might create a situation where everyone benefits – players get bigger pots and more action and the poker rooms drive up the potential rake for each hand.

Could it be possible? We hope so, but this is purely an article of speculation and so far there’s been no formal acknowledgement from any poker room to adopt the suggestion of our idea of an “Action NL Hold’em Table” now or in the near future.

Kelopuro: I don’t think money has changed me much.

Sami Kelopuro has made a name for playing the online poker in the biggest games there is under such nicknames as LarsLuzak, EskiMoes7 and LrsLzk. Couple years ago he completely destroyed biggest No Limit Hold’Em games, so completely that he was having a hard time in finding an opponent to play with!

Look like a hard job!

Sami didn’t play at Full Tilt Poker for a while, or at least not as LarsLuzak, but made his return last autumn and hasn’t left since. He was still playing under the radar at Betfair as Eskimoes7 all that time.

Games are nowadays just huge and Sami thinks that blinds can’t go much higher than $500/$1000 until something drastic happens. He even thinks that games are too big and most people are playing under-rolled at the biggest online games.

Kelopuro thinks that the recession at the market hasn’t affected the biggest games online. There is always same 10 to 15 regulars playing even at the time of recession and they don’t care about tough financial times much, but Sami would like to see more rich amateurs playing with sharks, players like Guy Laliberte perhaps.

Sami don’t think that he is the best poker player in the world, but he likes to challenge himself playing the toughest opposition. He thinks that sometimes he should wait for more players, but usually if he sees Phil Ivey sitting at the table he will go play against him. Kelopuro thinks that the actual edge between top players is very small, but if he felt that someone had a big edge against him he would probably stop playing.

Sami has won millions playing online poker, but he don’t think that money has changed him much. He has made a lot new friends thanks to poker, but he also hangs out a lot with his childhood friends. For Kelopuro, money is just money and it shouldn’t change who you are and how you relate to people.

Kelopuro is a lot better cash game player than a tournament player, but he still dreams about winning a WSOP bracelet some day. Actually, Sami thinks that he is a total tournament fish! Still, he is going to play at least few events at WSOP this year and he is thinking that it would be a great accomplishment to be the first Finnish WSOP bracelet winner.

The whole interview made by PokerNews.com can be found here.

You just read Poker News from HighStakesNews.com

Kelopuro: I don’t think money has changed me much.