Online Poker

With the imminent arrival of legalized online gaming in Nevada the issue of credit has been raised.

As it stands the practice of betting on credit is rife throughout the industry, especially in high roller markets where carrying around thousands in cash is logistically difficult.

It’s a system that works well for all parties the vast majority of the time, in fact as much as 15% of the industry runs off credit.

In many countries around the world playing poker off credit is a completely legal but for the time being that won’t be the case in Nevada.

It’s not any specific concern that worries them, more so that it’s not a high priority at the current stage of the process.

It seems they simply want to have the general framework in place and working properly before focussing on the details, such as playing off credit.

Gaming Control Board member A.G. Burnett says they will be taking a conservative approach until things get off the ground.

“My own individual take would be that I don’t think [the rule] directly stems from any past problems regarding credit,” Burnett said.

“We were taking a conservative approach on the issue, and assuming we start going forward with intrastate and someday maybe interstate, I think we always reserve the right to amend the regulations.

“So, if we were to find some comfort in allowing credit to be issued and there was an interest in doing that, we would obviously be amenable to allowing it. In my own opinion, I didn’t have any case in mind when we put that in.”

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Yesterday saw the release of the 2012 World Series of Poker schedule and there’s a couple of changes that players need to take note of.

This year there will be 61 events starting on May 27th and going through until July 16th.

Rumours of a change in venue away from Las Vegas have been squashed and the Rio All-Suite Hotel and will retain the rights.

There will be 92 more tables in action through 2012 thanks to the Brasilia Ballroom being opened up for the first time.

In fact across summer it’s expected a huge 470 poker tables will be used a big jump from the record breaking 378 from last year.

In terms of major changes these are some of the ones of most interest.

The 2012 WSOP Main Event final table will play out one week earlier than in previous years.

The US Presidential Election is due on the first Tuesday in November and as a result the WSOP Main Event final table will be split in two parts.

The nine players will be dropped to two on Sunday October 28th before going heads up on Tuesday October 30th.

The WSOP Main Event itself will run from July 7th to July 16th, three days less than previous years.

It’s coming up fast so if you’re going to get yourself there you better start brushing up on your skills!

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Eight big time poker players have launched a complaint against Excapsa Software, the former owners of poker website Ultimate Bet.

They claim employees of the company swindled more than $20 million form them and other high stakes players.

The case involves poker pros Brad Booth, Tom Koral, Dustin Woolf and Daniel Smith who say they are down $2 million between them.

Their claim is that employees had access to their hole cards and thus could play against them on the same table knowing exactly what hands they were up against.

Extracts from the complaint read:

“Since at least June 2003 and until at least January 2008 Excapsa/UltimateBet did conspire to and did direct, effect, and permit the theft of over $2 million held in plaintiffs’ online poker accounts at UltimateBet.com. Specifically, by creating and making use of an intentional a security flaw in the UltimateBet.com software, and with the assistance of owners, agents, and employees of Excapsa and its various subsidiaries that operated UltimateBet, defendants either allowed others to or did directly view plaintiffs ‘hole cards’ during high-stakes poker matches run at UltimateBet.com.

“With the assistance of owners, operators, officers, employees, and/or agents of Excapsa and its subsidiaries, the cheaters were further able to change their online identities to avoid detection and to improperly funnel their illicit proceeds through various UltimateBet accounts in a manner that would have been impossible without insider assistance. Through these activities, defendants stole or caused to be stolen at least 20 million dollars from plaintiffs and other high-stakes poker players at games run by UltimateBet.”

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A beer and a game of poker goes almost hand in hand so it seems strange that it took thins long for the World Poker Tour to make it to Ireland.

The home of Guinness and an enviable pub per capita ratio, Ireland has long produced some of the world’s best players who now finally have the chance to play high stake son home soil.

It won’t please them one bit then that the inaugural event went the way of Englishman David Shallow.

He got the better of 338 others to pick up the €220,000 first place prize from the total prize pool of just under €800,000.

By the time he got to the final table he didn’t have to wait long to cash in either with just three hours passing from when he sat down to when he stood up as champion.

In addition to his cash prize he also qualifies for a $25,500 (€20,000) seat at the WPT World Championship in Las Vegas.

“It’s the first WPT I’ve won. It feels good,” he said. “It didn’t seem that quick to me, but obviously I was playing.”

It was another London based player Charles Chattha that claimed the runner up position turning around a rather hostile previous relationship with Ireland.

“Ireland has been really bad to me in the past,” he said. “When I first started in 2005 I came to Ireland three times and I did really badly. I vowed then I’d never play poker again in this country.”

The €140,000 pay cheque may go a long way to turning that around.

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While the United States remains stuck in a rut when it comes to the legalization of online poker Belgium has taken a massive step forward.

The European nation has this week approved three separate poker websites to operate legally in the country for real money.

Those granted permission include PokerStars, Partouche and Casino777.

Each company is now allowed to create a website using the .be Belgium domain name.

The decision is designed to follow in the footsteps of the French approach by instituting regulations that allow the government to issue licenses to online gambling operators.

The licenses allow operators to create websites for the exclusive use of Belgium players.

As in both France and Italy the websites cannot give international players access or vice versa.

This does create a problem however as there is only a finite number of potential players in the country.

Approximately 11 million people live in Belgium and some argue this may not be enough to sustain three different poker websites.

It does act as an interesting test case though with many states in the USA looking to adopt a similar strategy with an equivalent or even fewer number of people.

Another aspect of the Belgium legislation though is a blacklist, a list of unapproved gambling websites that will be blocked form the country.

It’s not yet known though how effective that will be or how easy players will be able to get around it.

PokerStars made its way into the market thanks to a partnership with online gambling operator Circus Groupe.

“Attracting the world’s largest poker site was made possible by the remarkable work of the Belgian Gaming Commission and the Wallonia Ministry of Finance,” said Circus Groupe CEO Emmanuel Mewissen.

While this is only really good news for people living in Belgium there’s plenty on offer for the rest of the people around the world as well.

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