Gambling Blog

The trial of NETeller founders Stephen Lawrence and philanthropist John Lefebvre has been pushed back for the fifth time, and is now not due to take place until early June. 

Arrested on a string of charges including racketeering and money-laundering, it will come as no surprise to many if it is found that the US Department of Justice (DOJ) has in fact increased the profile of the company through such striking charges. 

The company is certainly still doing well, despite the $55 million the DOJ is holding onto “as evidence” in the ongoing case. 

Just this week the firm’s European organisation announced the launch of its new payment card, which lets customers pay for goods in stores with a prepaid credit system similar to that which MasterCard is introducing. 

NETeller is authorised and regulated by the UK Financial Services Authority, and will rely on World Trade Orgainsation rulings to argue that the US has no jurisdiction and no right to charge the Isle of Man company with offences in US law. 

Gambler’s champion, congressman Barney Frank, has gained support in the form of a national scheme to regulate gambling, it has been reported. 

The poker-friendly congressman staunchly opposed the Unlawful Internet Gambling Enforcement Act (UIGEA), passed last year, on the grounds that it was unnecessary, and that banning all Americans from playing online poker at home was uncalled for. 

Instead of a blanket ban on online gambling - an infringement on civil liberties, some would say - congressman Frank suggests legislation to regulate the online gambling industry, so people can gamble freely, and do so safely. 

The Safe and Secure Internet Gambling Initiative, launched by the London-based UC group payment provider, aims to provide such safeguards as those called for by congressman Frank. 

Spokesperson for the Initiative, Jeffrey Sandman, said: “Millions of Americans are currently gambling online in an unregulated environment without any consumer protections. 

“Internet gambling is a matter of personal choice and many Americans see the current prohibition as an unnecessary intrusion into their private life.” 

Another internet gambling site has added itself to the long list of those offering seats at the World Series of Poker (WSOP) Main Event. 

Mansion.com has revealed that rather than hosting its $100,000 daily tournaments, it will provide eight seats at the WSOP Main Event, every day for seven days. 

There is currently an explosion of websites offering seats at the coveted poker tournament, held between July 6^th and 17^th this year. 

While many websites have been offering the $10,000 buy-in, with flight and hotel packages included, as prizes for winning poker games, many others have dreamt up more ingenious ways of offering entry to the Main Event. 

One website has even been offering a seat packages in a silent auction, meaning players could win a package at the cost of just one cent! 

In a statement made to the press, Mansion.com said: “There are plenty of options to play your way to Las Vegas for the Big One. 

“[Players can] buy-in directly to one of the daily Main Event satellites for $100, or enter one of the feeder satellites for as little as $10 or $20.” 

The United States’ Department of Justice (DOJ) has announced indictments it plans to serve on seven individuals and four companies accused of breaking the law in light of the Unlawful Internet Gambling Enforcement Act. 

The indictments include the prosecution of online gambling company BetUS, which was earlier this month chosen as the platinum sponsor of the Affiliate Series of Poker (ASOP) tournament, one of the most prestigious tournaments in the industry. 

The charges against the individuals and organisations are in connection with online sports betting; of which, most are being charged also with allegedly being involved with the processing of credit card and Western Union transactions between US residents and internet gambling websites. 

The sentences for the laws allegedly broken variously stand at between 20 and 30 years imprisonment. 

International betting company BetOnSports was also indicted by the DOJ on 22 counts last year, although its CEOs were spared jail after making a deal with the government. 

Roy Brindley has taken the top prize at the recent Poker Masters of Europe tournament.

The event, sponsored by the online gaming firm Betfair.com, saw the finest players on the continent battle it out for a significant pool of money.

Brindley was chip leader for most of the time at the final table and it was his consistency and lack of mistakes that saw him come out on top.

With the two internet qualifiers, Steve Cordy and Richard Collier, knocked out in the opening stages of the tournament, along with the more experienced Ram Vaswani, the final table was mostly made up of the game’s biggest European names.

Tony G was beaten into third place by William Thorson, though the ‘Bad Boy’ of poker announced that he will be donating his $36,000 prize money to charity.

In the final heads-up battle, Brindley faced top Swedish pro Thorson, with the two having an epic battle to decide the tournament.

After almost two hours of play, the Swede went all in with King Jack.

Bindley called and took the title with his Ace-7 giving him a winning two pairs.

“I got to the stage where I was really enjoying playing, winning or losing,” the winner said.

“This is the first televised tournament I’ve won in five year….it means a great deal….more so financially now we have the baby.”

The number of fully paid-up members of the Poker Players’ Alliance (PPA) is set to reach the half-million mark, the organisation has confirmed.

Such a figure is impressive given that PPA membership stood at just 120,000 four months ago.

However, the recent arrests of the co-founders of the payment firm NETeller and the seizure of their funds has driven players to seek additional protection.

Furthermore, the appointment of the high-profile former Senator Alfonse D’Amato as chairman of the board is also seen as a significant factor behind the 400 per cent growth in membership over the past few months.

Over the past year, the PPA has spent $560,000 in direct lobbying efforts, double the amount of the previous year, with the issue of online gambling getting most of the attention.

“I have a doctor friend who’s outraged that he can’t play online poker in his home,” Mr D’Amato said.

“He’s an example of the type of members we have.

“The small guy who is resentful of a bill pushed through in the dead of night, of the power that resides in just a handful of people.”

An Israeli-based real estate investment group has smashed the record for the most expensive purchase of a site on Las Vegas’ famous Strip.

In a deal worth in excess of $1.2 billion, El Ad properties acquired the New Frontier venue, along with its 36 acres of real estate land on the Strip.

The New Frontier’s previous owner, Phil Ruffin, purchased the venue for $167 million in 1998 and had recently been looking for an equity partner to help finance the site’s redevelopment.

“We’re under contract and that means we’re doing the deal,” Mr Ruffin confirmed.

“We’ve been successful with the property, but it got to a point where it was better to let someone else come in and develop the site.”

According to sources close to both parties, the Israeli firm intend to close the current casino, with its Wild West theme, and replace the New Frontier hotel with a replica of New York’s Plaza Hotel, which it also recently acquired. 

Real estate experts currently value land on the Strip at between $20 million and $30 million per acre.

Shelby County, Indiana, has welcomed the news that new slot machines can be built in the under-developed area of I-74. 

While some members of the town’s public are cautious of the news, the long-term planning for the new slot machines means that financially there will be large benefits to the town’s infrastructure. 

Scott Furgeson, Shelby County’s mayor, has described how he is positively ecstatic about the news, remarking that “it’s like we hit the lottery”. 

The town is expected to draw around $8 million through tax on the development, all of which can be used to provide public services around the town. 

On top of this, there is the chance to start what should become a large attraction in the I-74 area, creating jobs and a more attractive environment for the surrounding neighbourhoods. 

Of the members of public who are concerned about the move is Juanita Swift, 55, a General Motors retiree. 

Ms Swift said: “[Gambling is] like any other addiction. When you go out with the last dollar you’ve got, you can really lose out. It’s not a way to run a city.” 

With the World Series of Poker (WSOP) Main Event just around the corner, this year’s rules have been revealed, causing much debate in the gaming world.
 

In an apparent shift towards  micro-policing of the event, some of the key rules for this year’s tournament include a zero-tolerance attitude towards aggressive swearing - in particular the use of the F or C-word.
 

However, shouting F ***! alone will not land you in trouble if you are dealt a poor hand, but rather only if a you direct such language at another person will you receive a wrap on the knuckles.
 

For perhaps the first time, etiquette has been included heavily in the penalty scheme, with basic courtesy violations such as “touching another player’s cards or chips, delay of game and excessive chatter” now worthy of a penalty.
 

Again, perhaps as an attempt to enforce polite courtesy rather than as a defence against cheating, the WSOP has also decreed that any player using a mobile phone when his or her hand is dealt will receive a dead hand.
 

No mobile phones may be kept on the tables.
 

The new rules come only a couple of months after the WSOP failed to penalise last year’s winner, James Gold, for showing an opponent a hole card, as well as announcing he held top pair and top kicker after the opponent had bet.
 

The strong focus on etiquette contrasted with the lack of strength in game-rule breaking may make for some interesting debates around the poker tables in 2007…provided that doesn’t constitute as “excessive chatter”!

The world’s largest online poker school and free-to-play website, PartyPoker.net, will be represented at the forthcoming World Series of Poker after it renewed its product placement agreement with the event’s organisers. 

As with the previous two events, the 2007 WSOP will be held at the Rio All-Suite Hotel and Casino in Las Vegas. 

Under the new agreement, announced by Harrah’s Licence Company LLC, the online gaming firm will be integrated into the tournament, with its logo set to appear on all of the poker tables in use over the course of the event. 

Jeffrey Pollack, WSOP commissioner, said: “We’re pleased to announce that PartyPoker has renewed its product-placement deal. 

“It is one of a fantastic group of commercial companies to welcome back to the team.” 

The financial details of the agreement were not disclosed by either party. 

Last year’s WSOP saw around 48,000 players compete for a prize pool of in excess of $171 million, with the top prize for the Main Event, the $10,000 buy-in No-Limit Texas Hold-em World Championship, reaching $12 million. 

Around 3.5 million people visited the gambling city of Las Vegas over March, a 1.4 per cent increase on the previous month, it has been reported. 

The numbers for the month also meant that the total number of Vegas visitors during the first quarter of 2007 was 9.6 million, around a one per cent increase on the same period of 2006. 

According to these latest statistics complied by the Las Vegas Convention and Visitors Authority, the contrast between visitor numbers and the growth in overall revenue, supports the widespread belief that visitors are spending more money on amenities other than gaming, including food, drink and entertainment. 

“We’ve known for some years that the non-gaming side of our business is growing faster than the gaming side,” said Alan Feldman, a spokesman for the MGM Mirage resort. 

The growth in revenues was partly due to an increase of almost nine per cent in the average rate of a hotel room in the city, with the average price currently standing at $136. 

The World Poker Association (WPA) has confirmed that it will have a significant presence at the forthcoming World Series of Poker (WSOP) 2007 as it aims to promote its aims and principles to the best players in the world. 

Since its formation in November 2005, the WPA has worked to uphold professionalism and ethics within the field of poker, aiming to bring together players of all standards under a shared code of conduct. 

With its stall set to be highly visible within the WSOP tournament area, the organisation is hoping to give all players and spectators the opportunity to express their opinions regarding the state of the game and the future of poker. 

Working an a non-profit organisation, prospective members can join the WPA at the WSOP 2007, with a cost of $50 per year payable to become a voting member, $25 to become a member without the privilege of a vote and for $1,000 players are entitled to become a founding member. 

Among those currently serving on the elected board of directors of the WPA are the former advisor to the mayor of New York Rudy Giuliani, Wendeen Eolis, the casino consultant and professional poker player Warren Karp and Jesse Jones, a former professional and chairman of the organisation. 

The line-up for the forthcoming Global Gaming Expo Asia (G2E) has been announced, with industry leaders set to address fellow professionals about the key trends and issues affecting the continent’s booming gaming sector.
 

As Asia’s largest gaming industry trade show, the 2007 event will be held at the Macau Tower Convention and Entertainment Center in Macau, China on June 13^th and 14th, with speakers addressing visitors over the course of both days.
 

To open the proceedings, Frank J Fahrenkopf Jr, the president and CEO of the American Gaming Association (AGA), is to make a speech entitled State of the Industry: The Growth of the Australasian Markets, with seminars and later discussions focusing on the impact a rising market will have upon the industry’s continued growth.
 

On the Thursday, the focus will be on the state and future potential of Macau itself, with Paulo A Azevedo, executive director of the Macau Business Magazine, set to speak on the subject alongside a host of fellow leading professionals.
 

“The prominent speakers at G2E Asia are leading the development of the region, and their unique insights into today’s key gaming topics will give G2E Asia attendees access to ideas and solutions that will help them make their gaming businesses more successful in today’s global gaming marketplace,” said Mr Fahrenkopf.   

The profits of runners up at this year’s World Series of Poker (WSOP) Main Event will be more than doubled, thanks to a reshuffle in the way in which the prizes are paid out. 

Until 2006 the winner of WSOP’s Main Event would be greeted with a firm handshake and a cool $12 million, while runners up would only make around a couple of thousand. 

However, following directly on from comments made at last year’s WSOP, Harrah’s Entertainment has decided to review the pay structure, which has led to this year’s revised payout policy. 

What this means in real terms is that the top 27 players in each of the various WSOP tournaments will now receive a reduced payout in comparison to previous years, while the other 90-95 per cent of players will receive significantly larger prizes. 

In the main event this will mean the top prize will be chopped down from $12 million to $10 million, while runners-up will receive a 50 per cent payout increase, bumping the previous $14,000 prize up to $20,000. 

Considering the cost of a seat at the WSOP comes with a $10,000 fee, this prize increase represents a 150 per cent boost in profits for runners-up, something which can’t fail to increase interest from across the globe in this year’s tournament. 

Comments made by a Nevada state gaming inspector have suggested that an incredible incident last year when there were over two million chips too many on the tables of the World Series of Poker (WSOP)’s tables was an honest mistake. 

The discovery of 2.41 million surplus chips led to reports of cheating at the time, but both Harrah’s Entertainment and the Nevada Gaming Commission (NGC) have so far hinted that the incident was an accident. 

Officially the NGC have refused to comment although they have informed the press that no prosecutions will be made. 

NGC chief of enforcement, Jerry Markling, said: “There were extra chips that had been introduced into the tournament, inadvertently apparently. 

“We looked at several angles to determine whether or not there was any criminal involvement, and we could not substantiate that there was any.” 

Harrah’s Entertainment has claimed there will be extra measures in place this year to avoid such an incident happening again.