Posts Tagged ‘Internet Poker’

John Duthie Moves foreshadow US Online Poker Regulation

Thursday, January 5th, 2012

John Duthie has become a legend within the poker community for starting up the European Poker Tour, and helping it to become one of the top three poker tournament organizations in the world. Interestingly enough though, Duthie resigned from his position as CEO of the EPT, and also chose not to renew his contract with PokerStars.

Duthie’s decision to leave the EPT especially comes as a shock because the UK native has successfully guided this company towards major TV deals and profits in his seven years with them. So what could make him leave the company he started and a lucrative deal with PokerStars? The answer is that Duthie is eyeing something even bigger in the US online poker market.

As of now, the future of US online poker is in limbo because the UIGEA is still in effect, and it’s unclear as to whether states, the federal government, or a combination of both will bring online poker games to players. However, one clear thing is that internet poker is closer than it’s ever been to being fully legalized in the US. And for someone like Duthie to leave behind big money-making jobs to chase after American opportunities has to mean something.

The 53-year-old basically said so in as many words by stating, “There are going to be some amazing opportunities coming up in 2012 and 2013 as the U.S. market prepares to open up for business once again, and I want to be available to take on new challenges, and to cement new relationships moving forward.”

We don’t know exactly what Duthie plans to do in a free online poker world over in America, but it’s got to be something big. Furthermore, you have to think that Duthie has some insider knowledge that the US is really getting close to regulating online poker on a wide scale level.

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Online Poker removed from Wire Act – Legal Now?

Monday, December 26th, 2011

In a surprise bit of news the other day, the US Department of Justice clarified the Wire Act of 1961, and stated that online poker is no longer considered in violation of this law.

This is a pretty big victory for online poker in the United States because the Wire Act outlaws gambling when it crosses from state to state. Seeing as how internet poker no longer falls under the Wire Act any longer, it’s not technically illegal.

Of course, it was never “illegal” for people to play online poker – except in the state of Washington – but it’s still good news that federal lawmakers no longer consider internet poker breaking the law. Instead, the only online wagering activity that the US government views as illegal now is online sports betting.

So does this mean that lawmakers are turning a blind eye towards online poker and chasing after sports betting operations instead? Absolutely not, and you can still expect the UIGEA to continue hampering US online poker until regulation and legalization is set in motion.

After all, the UIGEA prevents banks from dealing with gambling-related transactions, and this is the big reason why some poker sites have committed bank and wire fraud in order to service players. They need ways around the current laws, and unfortunately, these methods have turned out to be illegal in certain situations.

So while online poker may not fall under the Wire Act anymore, we still have a ways to go before those in the US are playing poker free and clear. With talk of regulation some time in 2012 or 2013, it may not be an eternity before the United States sees a better structure in place for online poker players. But we’ll have to wait until that day actually comes.

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Knowing when you’ve beaten an Online Poker Limit

Sunday, December 18th, 2011


Those who want to make more and more profits in online poker obviously have to move up the stakes. Of course, the smart thing to do is to wait until you’ve officially conquered a certain limit before moving on towards the next. That being said, many online poker players wonder when they’ve officially beaten a cash game limit.

After all, there is no set number of poker hands that will tell you when you’re a truly successful player at certain stakes. Some people say 5k hands or more, some people say you won’t know until you’ve played 100k hands or more. The reason why it’s so difficult to pinpoint an amount is because there’s so much variance involved with playing internet poker.

The reality is that you can never be absolutely sure about your win rate until you’ve played at least several hundred thousand poker hands at one limit. But you can take a look at your win rate vs. the amount of hands played to come up with a reasonable idea.

For example, let’s say that you’re playing at the $0.01/$0.02 stakes, and you are winning 2bb/per hour after 20,000 hands. Now this isn’t too bad for a recreational grinder who learns a little poker strategy on the side. However, if you truly want to be a winning player who makes money from the game, a win rate of 2bb ($0.04 total) at the smallest online poker stakes possible isn’t the greatest. Furthermore, it doesn’t exactly inspire confidence that you’ll crush the $0.02/$0.04 stakes and up.

So it’s also important to take into account the level of competition you’re facing along with win rate and hands played. For instance, if you were winning 2bb at the $1/$2 stakes after 20k hands, this might be cause for moving up since win rates are smaller as you advance.

In answer to the original question of how you truly tell when you’ve beaten certain stakes, it’s important to look at the hands played first, then win rate and competition secondly. Provided your win rate is good enough, 15k-20k hands should be enough to determine your success rate for a given limit.

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Does Phil Hellmuth know about Online Poker Legalization?

Friday, December 16th, 2011

2011 has been a very good year for Phil Hellmuth since he managed to finish second in three WSOP tournaments, and earn over $1.5 million with these three cashes alone. The only thing that seems to be missing from Hellmuth’s life right now is a good sponsorship deal. However, according to a recent Hellmuth interview, that may change along with the landscape of online poker in the United States.

Beginning with the latter, Hellmuth revealed his thoughts on online poker legalization to Short Stacked Radio by saying, “I wouldn’t be surprised if it passed before Feb. 1. I think there’s going to be the biggest explosion in poker history the minute (online poker) is legalized.”

These are certainly interesting thoughts on the matter since many people are still in the dark on how online poker legalization is faring in the US. Assuming the American government does legalize and regulate internet poker in the near future, plenty of people stand to benefit, including Hellmuth as he stated, “I happen to be in a pretty lucky position where we have had more than one discussion recently, you know, there’s some very big companies and some very big people that are starting to get ready for the legalization of online poker.”

The Poker Brat also hinted that it won’t be long before he picks up a new sponsorship deal by saying, “You may find me signing something in the next two weeks. You may find me signing with a company that no one’s ever heard of. Don’t be surprised if that happens.”

The last comment definitely raises some eyebrows because there are a number of companies that could offer Hellmuth a lucrative deal provided internet poker does happen in America. Assuming it does, you can guarantee that a number of online poker sites will be clamoring for the services of an 11-time WSOP gold bracelet winner.

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Zynga Poker Real Money Games a Possiblity

Thursday, June 30th, 2011

As a poker provider for the world’s leading social networking site – Facebook -Zynga Poker is a very valuable commodity. In fact, Zynga is offering a $1 billion initial public offering to investors next week, which could push their overall value from $10 billion to between $15 and $20 billion. And just imagine how large Zynga’s valuation could climb if US poker legalization happens in 2011 as many people are expecting.

As it stands now, Zynga Poker is merely a giant waste of money since they sell people fake chips. And you can spend up to $100 a day just to play free poker against other Facebook junkies.  In short, this site is a safe-haven for those who are too scared to play in real money games – never mind the irony that people are paying for a service that’s usually free. But if online poker is legalized in the US, Zynga Poker could become a dominant force in the internet poker world.

Currently, there are 30 million Zynga Poker users, which is almost 10 million more than PokerStars. And if poker becomes totally legal, it would be very interesting to see how many of Zynga’s users would convert over to real money play. Even better is that this site could become the biggest fish pool in the world! Just imagine all of the social network fiends without poker skills running around Zynga spilling money every step of the way. Can you say pre-2002?

Of course, the biggest piece to this puzzle is Zynga making a serious effort to pursue real money games if/probably when internet poker is legal in the US. As of now, the site claims that they aren’t interested, but it’s a good bet that they’ll at least consider the possibility when it comes time.

 

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Phil Ivey Website under Construction

Thursday, March 24th, 2011

One of the strangest things in all of poker is that the best player doesn’t have his own website. However, all of this is about to change since Phil Ivey currently has a website under construction right now. And it’s about time since there are plenty of no-name online poker players who have their own site. So why doesn’t one of the most famous players have a site?

The website should be pretty popular because it’s supposed to offer strategy and training videos from Ivey, who up until now has never gotten into the poker strategy game. In the past, Ivey said that he didn’t want to offer any strategy books or videos because he doesn’t want people to know how he plays. And with $18 million in online cash game winnings and $13.8 million in live tournament winnings, it’s not like he needs the money from offering a strategy-based website…..or does he.

Ivey reportedly lost a lot of money last year when he and his wife got divorced, so he might be looking for an additional source of revenue. Sure he owns a small part of Full Tilt and continues to amass big poker winnings, but he also lives one of the most expensive lifestyles out of any pro. For one thing, Ivey is constantly flying around the world to different destinations in search of big cash games. Secondly, he makes massive sports bets on a regular basis such as the $1 million Super Bowl bet he once made.

In any case, a lot of people are excited about Ivey’s website because they’re interested in seeing what he has to offer. And if it’s even a fraction of what Ivey knows, players are sure to get their money’s worth.

 

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How Much Poker should you Play?

Thursday, March 17th, 2011

Even if you’ve been playing poker for a few months, you could be lost as to what your playing volume should be. Should you play 5 sit and go’s a day? Is 3 multi-table tournaments going to be enough to make you better?

Unfortunately, there is no universal answer to these questions because it all depends on your goals. For example, if you are a recreational player who gets a thrill out of playing $1 SNG’s, then three tournaments or less a day is perfectly fine. However, if you’re someone who spends hours on poker forums and you dream of winning hundreds of thousands in MTT’s, some day, you should probably get at least 5 MTT’s or more in a day.

Now one problem that people run into when they’re trying to get enough poker tournaments in is not having enough time in the day. After all, if you want to get a sick volume in, three hours of daily poker time just won’t cut it. For these people, there is always the multi-tabling option. Some of the big-time online pros multi-table as many as 20 tournaments at one time! This isn’t to say you should try this; rather, it’s just to show you what’s possible.

Obviously skill and bankroll will factor into the matter as well. For example, if you only have a $50 bankroll and you’re a total beginner, it would be unwise to play five or six tournaments a day because your bankroll would run out pretty quickly this way. And you need to give yourself enough time to learn poker strategy along the way, so one or two tournaments a day would work for the aforementioned situation.

Above all, remember that your goals will be the ultimate deciding factor when determine playing volume, while bankroll and skill factor in as well.

 

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California Will Discuss Intrastate Internet Poker Legislation Today

Tuesday, June 29th, 2010

Live poker games have been available to Californians for some time now. However, there are currently no licensing requirements, regulations or law enforcement tools designed to protect the millions of poker players in California who play real money games on the Internet. Today at 3:30pm PST, California’s Senate Government Organization Committee will discuss the state’s first Internet poker legislation.

The legislation, known as Senate Bill 1485, will implement several rules and regulations on the Internet poker industry and players in California. The bill will authorize three hub operators to allow legal poker gaming online in the state. This means that Californians will only be able to play at those specified hubs when in California. Additionally, these hubs must fork over at least 20% of their gross revenues to the Internet Gambling Fund each month, a newly created Californian fund. Online poker players must be at least 21 years old.

Both the Morongo Band of Million Indians and the Poker Players Alliance (PPA) have issues with the bill in its present form. John Pappas, the executive director of the PPA said, “We have some legitimate concerns with the legislation that hopefully will get remedied. A lot of people think the chances of this bill moving forward this year are slim because no one has really gotten behind the current draft and there seems to be a lot of division on what the best end product would be.”

It will be interesting to see what results from discussion of the bill in California today.

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