Poker
Poker News
Betfair Advertisement Banned by ASA

 The Advertising Standards Authority of the United Kingdom has officially banned a Betfair television advertisement.

The advertisement contended that the sports book operator offered better value than its competitors. It stated that Betfair offered a better price than William Hill on 506 of 640 runners, Paddy Power on 549 of 640 runners, and Betfred on 543 of 640 runners for the London Marathon about 30 minutes prior to the race. The advertisement was flagged after a viewer challenged this claim with evidence that the latter three sports book also claimed the “Best Odds Guaranteed”.
Betfair argued that the price comparison reflects the most up to date and meaningful point due to price convergence leading up to the race. Furthermore, the sports book argued that “Best Odds Guaranteed” was a restricted payout given to losing or new customers.
However, the ASA ruled that the Betfair ad erroneously compared its prices to the competitors and offered misleading information about the relative pricing and odds for the London Marathon.
This is the second time that a Betfair advertisement has been banned.
Author: Ekaterina
17 . 04 . 2013 y.
NJ to Rule in August on PokerStars' Bid to Buy Casino

 PokerStars' attempt to purchase the Atlantic Club casino and enter the U.S. online poker market via New Jersey will be decided by the state Casino Control Commission in August.

The timetable was set in motion when the New Jersey Division of Gaming Enforcement (DGE) announced that the Rational Group's application for a casino license was completed on April 10. As the parent company of PokerStars, Rational began discussions to acquire the floundering casino in December. However, the initial application submitted to gaming officials was found to be lacking certain particulars.
With the application now fully complete, the DGE will commence an investigation of PokerStars and has 90 days to file their findings with the commission, putting the deadline at July 9. The Casino Control Commission is allowed 30 days after that to hold a hearing and make a decision on PokerStars' suitability for casino licensure.
PokerStars is banking on acquiring the Atlantic Club Hotel and Casino and forging their way into the U.S. online poker market. The idea is to dominate the American marketplace as they do in nearly every other jurisdiction throughout the world. PokerStars has applied in Delaware in hopes of being a part of that state's Internet gambling scheme, but the company chosen as the primary vendor in Delaware will have a large say in controlling most of that action.
PokerStars has not applied in Nevada, where a bad actor clause will likely keep them out of the picture until 2018. The top online poker site still has the option of challenging their status as a bad actor in Nevada in a court of law. If they could somehow prove that the UIGEA was not violated, they could lose their designation as a bad actor. But with New Jersey, Nevada and Delaware being the only three states that have enacted online poker and gambling legislation thus far, PokerStars' best shot appears to be in New Jersey.
The American Gaming Association (AGA) has strongly opposed PokerStars' attempt to muscle their way into the U.S. market in the Garden State. The AGA has petitioned New Jersey gaming officials to block the acquisition, stating that 'Stars built their empire on deceit and unlawfulness by willfully violating the UIGEA almost seven years ago.
PokerStars fired back at the AGA petition, calling the filing a misguided attempt to promote anti-competitiveness in the marketplace. PokerStars cited their 2012 purchase of Full Tilt in which they admitted no wrongdoing regarding the Black Friday fallout and received somewhat of a blessing from the U.S. Department of Justice to enter the American market whenever it is legal to do so.
In mid-March, the commission held a meeting in which the merits of the AGA petition were to be considered. However, the issue was removed from the docket when officials decided that more time was needed to review the petition.
The odds of PokerStars being found unsuitable by New Jersey gaming officials are extremely high. With Governor Chris Christie aiming to recharge the Atlantic City casinos and already factoring online gambling revenue into his 2014 budget, who better to invite to the party than PokerStars?
New Jersey had a bad actor clause written into its first draft of the online gambling bill. But that provision was conveniently removed. Sen. Ray Lesniak, the biggest supporter of the online gambling bill signed by Christie in February, has practically already christened their arrival.
"PokerStars is the biggest company in online poker, and we should welcome them bringing their American headquarters to New Jersey," Lesniak said.
Author: Ekaterina
17 . 04 . 2013 y.
ZEN Entertainment Acquired by Swedish Gaming Group

 A Swedish online gaming software developer has acquired the bankrupt ZEN Entertainment, a Las Vegas-based free-play subscription poker provider.

The deal with NYX Gaming Group, Ltd. had been in the works since January, when ZEN filed for Chapter 11, in an attempt to find a solution for its creditors.
ZEN, which partnered with online presences such as Cardplayer Poker, South Point Poker, UFC and Jamie Gold’s FreeGoldPoker, borrowed upwards of $16m over three years, but never turned a profit.
The network was purported to be the largest business-to-business provider of free-play social media poker, with $100k in monthly cash prizes, framed as “sweepstakes“ tournaments in order to pass muster under US law.
That free play model was supposed to open the door to real money games, but with the failure last year to pass federal legislation for regulated online poker, so went ZEN Entertainment.
 
Author: Ekaterina
16 . 04 . 2013 y.
ClubWPT Exits Florida After Internet Cafe Ban Becomes Law

 Online subscription-poker site ClubWPT has exited the Florida market in direct response to last week’s enactment of a ban on internet cafes, which also includes language banning sweepstakes and other forms of gaming that can be done via electronic and internet-based devices.

ClubWPT’s withdrawal from Florida becomes the first business unrelated to the targeted internet cafes and adult arcades to close up shop. The cafes, which often offer video-slots gambling, have proliferated in storefronts across the state.
Florida Governor Rick Scott signed the ban last Wednesday after the measure speedily cleared both houses of Florida’s state legislature.
Many of ClubWPT’s Florida-based customers received an e-mail on Friday advising them of the site’s decision to leave the state, also notifying them that advance subscription fees will be refunded.
Brief excerpts from the e-mail appeared on the Cardschat and Holdem Poker Radio discussion sites, including the following: “I am sorry because of recent legislation that has just gone into effect in Florida, ClubWPT members in Florida are no longer eligible to participate in sweepstakes-style tournaments that award either cash or merchandise.”
Pokerfuse was able to confirm that the ClubWPT withdrawal from Florida was done in direct response to the language within the internet-cafe ban, receiving the following brief affirmation from the site’s online support: “Due to new laws Florida has now been stated as Ineligible state.”
Florida becomes the 16th US state either never or no longer serviced by ClubWPT. In addition to Florida, the site does not offer its services to residents of Alabama, Arkansas, Georgia, Idaho, Indiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Oklahoma, South Carolina, South Dakota and Washington.
Author: Ekaterina
16 . 04 . 2013 y.
Florida Outlaws Internet Sweepstakes Cafes

 Florida Governor Rick Scott has signed into law a bill designed to shutter internet cafes and adult arcades across the state, many of which offer video slots and other gray-market forms of gambling to the state’s residents.

Hundreds of the locales throughout the state ceased operations after Scott signed the measure on Wednesday, just six days after receiving the bill from the Florida Senate. The internet-cafe sweepstakes ban passed both houses of the Florida state legislature with 90% majorities.
The bill’s quick creation and passage was a reaction to a $300 million misappropriation scandal involving a group called Allied Veterans of the World, which operated 49 of the internet cafes across Florida. Despite advertising proclaiming that up to 70% of the business’s proceeds went to veterans-related charities, authorities released findings in early March showing only 2% of the funds went to the indicated charities, with the rest being diverted to Allied Veterans’ owners.
The sweeping crackdown resulted in 57 arrests and brought about the resignation of Florida Lieutenant Governor Jennifer Carroll, who had appeared in TV spots advertising Allied outlets.
The ban on the adult arcades and internet sweepstakes cafes includes broad language designed to eliminate most conceivable forms of transmitting currency, electronic credits, information or other things of value, and defines virtually all electronic gaming devices as possible “slot machines,” regardless of the devices’ actual use.
Many of the outlets offered a form of video slots awarding credits or coupons to be cashed out remotely, a workaround to evade the state’s existing gambling codes.
The new bill’s sweeping language has caused worry to other forms of e-gamers, from social-network gamers to fantasy-sports players to online poker fans, all of whom could conceivably be impacted by the bill’s untested scope.
Thousands of Floridians employed at the many hundreds of the cafes and arcades found themselves out of work upon the bill’s signing, a secondary factor briefly considered by Scott before signing the bill. An organization representing various arcade owners plans to challenge the constitutionality of the new law.
Author: Ekaterina
15 . 04 . 2013 y.
Bitar Avoids Further Jail Time, Forfeits $40m

 In a New York courthouse Monday, Ray Bitar plead guilty via a live video stream from California to charges of fraud and violating the Unlawful Internet Gambling Enforcement Act (UIGEA). He is sentenced to time served and is required to forfeit $40m in cash and additional assets.

The ruling comes days after Bitar reached a plea agreement with federal prosecutors which would see Bitar avoid jail time.
Prosecutors agreed not to contest the lack of further prison time due to Bitar’s serious heart condition. He is scheduled to enter a heart transplant program in early May.
Though Judge Preska was not bound by the agreement and could have handed down a stricter sentence, further prison time would have likely eliminated Bitar as a candidate for a transplant.
According to a report from the courthouse today, Bitar has been credited the seven days of time served in jail following his arrest in July, when he flew from Ireland to New York to hand himself in to Federal authorities.
Bitar originally plead not guilty to charges of wire fraud, money laundering, and operating an illegal gambling business, and was released on $2.5m bail.
The charges are in connection with “Black Friday,” the US Government’s crackdown on online poker.
Author: Ekaterina
15 . 04 . 2013 y.
New Documentary About Online Poker Creates Anticipation in Poker World

 Previously known as “Boom”, Bet Raise Fold: The Story of Online Poker, the long awaited online poker documentary, finally has a release date:  June 2013. Online poker legends Jason 'Krantz' Rosenkrantz and Taylor Caby joined forces with director Ryan Firbo, who previously directed “From Busto to Robusto”,  to tell the story of the online poker boom starting from Moneymaker´s $2.5 million win in the World Series of Poker Main Event 2003 to “Black Friday” in April 2011 when the US Department of Justice shut down online poker in America.

The production started in 2010, before the Black Friday, and was funded fully by online high stakes poker players. The story appears to revolve around 3 main characters; Tony “Bond18” Dunst, Danielle “dmoongirl” Moon-Andersen  and Martin “Alexeimartov” Bradstreet. All characters represent a different profile; Tony Dust poker player turned into TV celebrity, Danielle Moon-Andersen humble and responsible mother, playing to support her family and finally the analytical strategist Martin Bradstreet.  Besides the main characters, interviewees from a wide spectrum of professions in poker share their two cents as well.  Online poker legends Tom “durrrr” Dwan and Phil “OMGClayAiken”, WPT President Adam Pliska, professional poker player Daniel Negreanu and online gaming lawyer Stuart Hoegner just to name a few.
Now the post production is done, the biggest obstacle facing the documentary crew seems to be the distribution strategy. “We are really inspired by the success of Indie Game: The Movie's "nontraditional" distribution strategy. They wrote a case study that's really interesting reading; we're intending on following their playbook as much as we can, but adapted for the poker world rather than the video game world.” Says Jason Rosenkrantz in a twoplustwo forum post. However Indie Game: The Movie first appeared in festivals, then in theatres and only then it was digitally launched while it seems like Bet Raise Fold: The Story of Online Poker will be launched digitally first and then will try its chance in theatres.
It is a good project to tell the rest of the world that online poker is not only about young kids winning easy money and driving expensive cars and ordering bottles of champagne but it is also about teenagers paying for their college tuition, mothers supporting their families, young entrepreneurs having the money finally to turn their dream project to reality. It is, of course, if the documentary can reach the rest of the world. If not, unfortunately it will fall under the category of “Self-propaganda”. 
Author: Ekaterina
12 . 04 . 2013 y.
US Department Of Justice Indicts Sports Book Operation

 The Department of Justice has brought indictments upon 34 individuals and 23 companies over illegal activities involving Legendz Sports. Acting Assistant Attorney General Mythili Raman and US Attorney for the Western District of Oklahoma Sanford C. Coats have spearheaded the indictments that allege illegal gambling activity on United States soil.

According to the 95 page indictment, the alleged operatives offered online and telephone sports betting services to customers in the United States through sites under the Legendz Sports operation. The individuals supposedly offered sports book services to a nearly exclusive United States client base and provided services such as “post up” and credit wager options. The report alleges that this illegal gambling operation has been running since the inception of Legendz Sports (formerly MVP Sports) in 2003.
In addition to the individuals, Payment processors and companies related to the operation were also named in the indictments. Legendz Sports founder “Luke” King and current CEO Edward Buonnano were included in the list of individuals related to this case. The charges against the individuals and companies include illegal gambling operation, wire fraud, and money laundering.
The Department of Justice is currently seeking more than $1 billion in forfeiture, prison time for the individuals, and assets such as cars and real estate. The document contains evidence of numerous email and telephone correspondences as well as a plethora of financial transactions involving various payment processors and wire services. As for the Legendz Sports operation, the Department of Justice is seeking the forfeiture of six dotcom addresses even though the indictment names 22 domains connected with the online sports book.
This latest indictment sheds light on the crackdown on illegal gambling sites by the US Department of Justice and the role of the black market in the unregulated country. The first major online gambling indictments came about during April 15, 2011 when the DoJ of SDNY brought charges against three major poker sites, Absolute/UB, Full Tilt Poker, and Poker Stars. The Department of Justice followed the events of “Black Friday” with indictments against lesser known sites within the Merge Network. In 2012, the DoJ struck again with separate indictments for online sports book operations, Jazz Sports and Pinnacle Sports.
After a decade of unmitigated growth, black market online gaming operations have been hammered by the series of indictments brought on by the US Department of Justice. The post Black Friday online poker scene has been reduced to unreliable operations and a player base that numbers in the thousands. The online sports book black market may also see a similar decline after the recent series of indictments.
The indictments also show the need for regulated markets for games that are extremely popular in the United States. For nearly a decade, millions of US customers have placed wagers on black market sites that catered to a starving populous. Even with the indictments, black market operations will continue to exist in unregulated markets, which may lead to disasters such as the Full Tilt Poker debacle. Although it may be more difficult, certain companies will take the risk to cater to a lucrative and popular industry.
The recent activity from the Department of Justice has also coincided with the regulation of online gaming in Europe and the United States. Different jurisdictions have attempted to regulate online gaming to curb black market activity as well as gain revenue from the popular gambling industry. A regulated market offers security to customers and prevents criminal activity such as money laundering and stealing.
The indictment of Legendz Sports is another sign of a changing times and the dawn of a regulated era. The black market operations truly flourished in the first decade of the new millennium, but the turn of the decade has proven to be disastrous for many of these companies.
 
Author: Ekaterina
12 . 04 . 2013 y.
Italian Regulator Opposes Raise to Online Gambling Tax

 Luigi Magistro, Deputy Director of the Italian Customs Authority, dismissed discussions of a rise in online gambling taxes.

At a public hearing organized by the European Social and Economic Committee, the Italian regulator expressed his intention to maintain status quo tax rates and stated that a reasonable tax level would be necessary to combat black market activity. He stressed the fact that a raise in taxes would hurt the ability of licensed operators to effectively compete with any illegal establishment that might offer a better product.
Magistro also added that the consequences of a potential black market would outweigh the benefits of a raise in online gambling taxes. Currently, the online gambling sector raises about 2.2% of the tax revenue from the entire gaming sector. A rise in online gambling taxes would have a small effect on the overall revenue stream from that entire gaming sector.
The Italian Regulator’s speech came about after statistics showed a decline in Italian gross gaming revenue for 2012. Despite this decline, Magistro believed that the online gaming sector could see an upward trend with a recovering economy and potential cooperation with other countries.
Author: Ekaterina
11 . 04 . 2013 y.
Illinois Gambling Expansion Plan Sparks Fears of Corruption
Illinois' proposal to expand gambling throughout the state including over the Internet has some state officials worried that corruption will become widespread.
Representatives from both the Chicago Crime Commission and the Illinois Gaming Control Board voiced concerns over SB 1739, a proposal calling for five new casinos throughout the state, the installation of slot machines at thoroughbred and harness racing tracks, and online gambling. Such a large expansion plan might overburden the state's regulatory and crime-fighting efforts.
"Without the necessary regulations being in place, there is every likelihood that organised crime and corruption will enter the gaming system and Illinois will suffer another blow to its national reputation,” said Arthur Bilek, the director of the Chicago Crime Commission.
Bilek's comments were stated in a letter that was presented at a hearing held in order to air grievances related to SB 1739. His concerns were echoed by state control board chairman Aaron Jaffe, who stated that the measure as its currently written is much too broad and his staff would not be able to properly regulate such a large increase in gambling, eGR reported.
Illinois has long suffered from crime and corruption dating back to the Al Capone era in the roaring 20's when the Chicago mob boss paid off cops and politicians in order to run his criminal enterprise. Six Illinois governors have been accused of crimes while in office or shortly after entering the private sector. The last of those was former Governor Rod Blagojevich, currently incarcerated on a 14-year bid on fraud charges related to his efforts to sell Barack Obama's Senate seat after Obama was elected president.
Illinois' current governor, Pat Quinn, is well aware of the state's reputation. Quinn is open to considering gambling expansion, but wants to include a provision that would prevent gaming companies from contributing to political campaigns in order to stop corruption.
Author: Ekaterina
11 . 04 . 2013 y.
pages: << 1 ... 71 72 73 74 75 ... 80 >>
  • 1669

  • 1816
  • 1537

  • 1543

  • 1549

  • 1546

  • Getting Started Poker in 4 steps

    Step 1 Step 2
    Step 3 Step 4
Sportsbook
Live betting
Mobile betting
Freeroll Tournaments
Poker
Casino
Bonuses