Gambling Blog

Ahead of the forthcoming Master Classics of Poker tournament, Everest Poker has announced that it is to host a series of online satellite competitions.

With the main event to take place at Amsterdam’s Holland Casino between November 2nd and 10th, the gaming operator will organise a series of satellite tournaments starting this week.

Entry to the three daily satellite games stands at $11, with re-buys available for $3.

In addition, several direct-entry tournaments are to be held, with a cash prize on offer alongside a guaranteed place at the Masters Classic.

While buy-ins for the direct-entry events cost $100, the prestige and potential big prizes on offer at the Dutch event means that thousands of poker fans are expected to try their luck.

Jonathan May, property manager at Everest Poker, said: “The Master Classics of Poker tournament is one of the Europe’s best events for players and we can’t wait to see how our poker aficionados stack up against what this event has to offer.

“With satellites starting that low and a schedule that makes it easy to find a game, we’re making it possible for players with any size bankroll to participate,” he added.

“Everest Poker is committed to helping people learn to play better poker and win big.”

In yet another example of the lack of direction which the UK authorities have towards gambling, the 1st September sees a new era for gambling companies, with adverts allowed on prime time TV.  While this addition to the TV advert schedule was mooted and passed back in 2005, the authorities have taken a rather soft approach, bearing in mind their recent withdrawal of plans for the UK’s first “Super Casino”.  So what are the TV advert guidelines?

In effect there are no guidelines, other than there will be no adverts before the 9pm watershed, and companies registered outside of the EU will not be eligible to broadcast adverts on UK TV.  For those who qualify to make use of the relaxation in the law,  the government have opted for a self regulatory framework, effectively giving the industry free reign.  When you compare this liberal attitude to the cries of concern in the Commons, and withdrawal of the “Super Casino” project, it all becomes very confusing.
 
So why are the UK authorities acting in this way?

It seems that while the government appreciate that there may be a risk of exposing impressionable people to gambling at a very early age, they do not have any real concerns with the industry longer term.  Perhaps the recent introduction of Gordon Brown to “Number 10” has prompted a more cautious approach in the run up to the next general election, although it must be noted that Mr Brown both voted in favour of the earlier changes and was not vocal in his opposition when Tony Blair was Prime Minister.

There have also been blatant attempts to encourage more gambling companies to register in the UK, and in exchange for paying taxes to the UK authorities, they will be granted access to the ever growing UK gambling market.  The gambling industry is one which prefers to plan ahead, but it is proving very difficult in the UK.

While not too widely covered in the world press, Neteller have only just received clearance to unfreeze the accounts of their US customers, many of whom had used the online payment company to fund their online gambling exploits.  As many will be aware, earlier this year the US authorities clamped down on all US online gambling and set out to stop the life blood of the gambling industry, funding.

After arresting the Canadian founders of Neteller, and charging them with handling billions of dollars in illegal gaming proceeds, the US authorities have finally given US customers access to their funds.  As you would expect in the current uncertain environment there were massive withdrawals on the news, with $70 million rumoured to have been transferred by customers.

While the US authorities had explained their reasons behind freezing the accounts, the customer seems to have become stuck in the middle of the high profile arguments.  While the company still operates in some 160 countries worldwide, the US experience has shocked both Neteller and many customers.  It will either need some great public relations action from the company, or a reversal of the US authority rulings to see consumer confidence return.   While it may be a little too soon to write-off Neteller, many are predicting a very difficult few months ahead.

The online casino industry has been one of the main casualties under the current US tactics to close online gambling in the States, and while some believe that the recent rulings will be relaxed at some stage, there are others who are more sceptical. 

The situation is turning into a game of poker and the US authorities are currently holding all of the aces, but whether they will agree to share the pot and walk away remains to be seen!

Professors at Harvard Law School are to teach poker to disadvantaged school children and college students.

Believing that the sport teaches its players respect, awareness and business and financial acumen, the school is to work alongside several of the world’s leading education institutions, including Yale and Oxford universities in establishing “global poker strategic thinking societies”.

In addition to setting up poker workshops within schools and colleges, the proposed societies will also sponsor university matches and even develop an online poker curriculum for student enthusiasts.

“Poker teaches people to think for themselves, it is a key component of individuality and a prime aspect of managing resources,” said Professor Charles Nelson, from the Harvard Law School.

“As far as I’m concerned, it would be a better world if we all played poker.”

So far, after-school workshops have been set up for children in the Boston area as well as in Jamaica, with the students even gambling with real money, though in very small amounts. 

Currently there are several schools across the US which teach poker, though none as prestigious as Harvard, while the WSOP regularly runs courses to train its future dealers.

There is currently a growing debate in the US with regard to the subject of checks behind the approval of gaming licences.  Currently licences are granted by the Gaming Control Board of each state in the US, although there are growing calls for the whole process to be transferred to the Law Authorities, who often have access to, and are often already in possession of, more detailed information about the applicants, or their backers.

While it is happening less and less these days, gambling has historically been linked with various guises of organised crime, and as the industry continues to grow there is a need to ensure that approved licenses are “whiter than white”.  There are also issues with regard to the local community, excessive gambling, and the effects on local businesses in the event of new licences being approved.  While the industry has the potential to bring in massive investment, it is sometime at the expense of the older economy - something which has caused problems with some local communities in the past.

When you consider that one Casino company alone is looking to invest some $12 billion into the south China enclave of Macao, you may get an idea of the size and influence of the industry on a worldwide basis.  Companies with a combined value of hundreds of billions of dollars are quoted on stock markets in the US and throughout the world, not to mention the vast number of privately owned casinos. 

The internet has pushed the profile of casinos and online gambling yet higher, although it has given authorities around the world another headache - how to control internet based gaming.  In the short term the US government have hit the online credit providers with threats of fines and licence withdrawal, which has stopped the flow of funding to online gamers. 

Whether this is the long term solution remains to be seen, but at some stage a central authority would seem like a sensible long term solution.

The October opening of the $412 million Mount Airy Casino resort in Pennsylvania looks on course, with the first shipment of slot machines having just arrived and the interior decorators having moved in.

A total of 2,500 slot machines from Williams Gaming will be on the floor of the new casino resort and the state’s Gaming Control Board have confirmed that they will be on hand to oversee all aspects of instillation.

In addition to the brand-new machines, visitors to the Paradise Township venue will be able to play blackjack, craps, roulette and poker and the resort will also include a 188-room hotel, spa and salon, restaurants and nightclubs and several acres of retail shopping.

Following on from the October opening, phase two of the 891-acre site will start with an additional 212 hotel rooms, swimming pool and a casino all to be introduced before the end of 2008, making the Mount Airy resort one of the state’s leading gaming destinations.

For those who have been watching the casino scene, they will know that only 5 years ago Macao was a quiet back water situated on the Southern tip of China.  Looking at Macao today you would not realise that it was the same place, it has now become the mecca of gambling and it is now attracting the attention of all the industries big players. 

Figures from 2006 show that Macao reported gambling revenue of some $6.95 billion, against $6.69 billion from Las Vegas and $5.21 billion from Atlantic City.  It is now becoming the gambling venue of choice for the big players and while Las Vegas Sands Corp are spending $800 million on a Bethlehem casino, they are spending a massive $12 billion in Macao.  This is just a simple example of the attractions of the area, and strengthens the belief of those in the market place that Macao is set to pull further and further away from the other gambling centres of the world.

The far east has always been a hot bed of casinos and gambling in general, and it is only the recent relaxation of local gaming laws which has allowed the majors of the world to invest in the area.  For such a small area of the world, the pull of the casino industry is enormous and there seems little sign that this will change in the short term with the Macao economy set to benefit further.

At some stage we may see a slowdown in the number of new casino licences approved, at which point we will probably see a massive increase in the perceived value of casinos already operating in the area.  That is when the local operators who have been there since day one will hit the big time, the day they will be able to cash in their own chips.

Betfair Poker is offering player the opportunity to play in the first World Series of Poker (WSOP) to take place in Europe, by offering online satellites to the London event.

There will be three guaranteed $23,000 WSOPE package tournaments every week, and players can qualify through taking part in various step-tournaments.

The WSOPE event kicks off on September 6th and is made up of three events: a $5,000 H.O.R.S.E. tournament; a $10,000 Pot Limit Omaha tournament and a $20,000 Main Event, capped at 750 players.

Seats are still available and all tournament winners will receive the customary WSOP gold bracelet.

Phil Hellmuth, winner of 11 WSOP gold bracelets has confirmed that he will be playing in London, alongside Doyle Brunson, Phil Ivey, Erik Seidel, Roland de Wolfe, John Juanda, Allen Cunningham, Todd Brunson, Eli Elezra, Howard Lederer, Humberto Brenes and Jennifer Harman.

WSOP commissioner Jeffrey Pollack said: “There are over 60 WSOP bracelets between the pre-registrants so far, the inaugural World Series Europe will have a world-class field.”
 

The leading female poker pros are to head to Los Angeles to take part in the fifth annual Ladies’ Night Tournament, which aims to raise money for breast cancer research. 

This year’s tournament, which has been organised by the World Poker Tour (WPT) in partnership with the cancer charity Susan G Komen for the cure, will take place on August 18^th and 19^th at the city’s Bicycle Casino. 

The event kicks off with a party and a “poker and a pedicure” session before entrants get to try their luck in the WPT No Limit Texas Hold’em tournament. 

As well as taking home a cash prize, the lady who comes out on top at the end of the second day will be awarded the sixth seat at the Ladies’ Night final table, where they will battle it out with poker pros including Mimi Tran, Linda Johnson, Kristy Gazes, Milissa Hayden and Joanne ‘JJ’ Lieu, the reigning champion of the event. 

Buy-in for the Ladies’ Night V event is $970 plus a $30 entry fee. 

Robyn Moder, executive vice president of WPT studios, who will be filming the event, said: “We really look forward to doing this event each year, as it benefits an organization that works tirelessly around the clock and around the globe to eradicate a disease that affects so many people. 

“Not only does Ladies’ Night raise funds for such a great cause, but it raises important awareness and strength among the women who come and participate in the event.” 

The NBA has been hit by one of the biggest betting scandals in recent times with former NBA referee Tim Donaghy pleading guilty to two serious charges after admitting providing information to professional gamblers and also betting upon the out come of games in which he was personally involved.  The basketball game has been shocked by the revelations, but is it just the tip of the iceberg or a one off?

Donaghy faces a maximum of 25 years in jail if he is found guilty, although there is always the chance of a deal with the prosecutors if he is able to provide them with details of any other members of the betting ring.  While there have been betting scandals in US sport in the past, this one has rocked the game of basketball to the core, with other officials now coming under scrutiny. The case has also prompted many more questions including :-

How was Donaghy able to place bets?

It seems that Donaghy was not only betting on games in which he was involved, he also seems to have been using illegal betting outfits.  It would now seem inevitable that these illegal outfits will now become the centre of future investigations - perhaps offering Donaghy a reduced jail term in exchange for assisting the authorities?

How much money has Donaghy won from his illegal bets?

While Donaghy has pleaded guilty to two charges, there are rumoured to be a number of events and bets under investigation.  While we may never know the exact detail of his gambling patterns, the two test charges are more than enough to put him away for a long time.

Why did Donaghy becoming involved in these illegal activities?

Apart for the obvious greed factor, it appears that Donaghy has had a serious gambling addictions for many years, leading him down this wayward path.  It seems that others under investigation became aware of his personal gambling habits, and suggested they work in tandem in return for money.  Unfortunately for Donaghy he agreed, and will be paying back for many years to come.

While to those with little or no interest in casino games such as poker, the thought of watching a live poker competition may not have the desired effect.  However, put this opportunity in front of a poker player and you will see a whole different approach - the chance to watch and learn!

The explosion in poker’s popularity has come at the same time as a major increase in the number of satellite TV channels covering live poker competitions.  So which came first?

It seems that while there needed to be an increasing interest in the poker industry to make it worthwhile, the reduced costs of producing TV programs as well as the competitive pricing for those offering TV channels created an interesting opportunity.  The increased coverage of the sport has also resulted in a massive increase in tournament win pots, with figures well into the millions of dollars now common place.

Interestingly, the last few years have seen the emergence of many new poker experts from different areas of the world and society.  It seems that the internet has released a lot of talent, which had until recently been well hidden.  Sponsorships, advertising deals and the like have opened the poker competitions to the masses, with many players going on to make a full time living and gain “superstar” status in the industry.

The number of televised poker tournaments is set to increase in the future, with many of the big casinos and gambling houses keen to put forward large sponsorship deals.  As well as sponsorship deals, we are set to see a new advertising code introduced in the UK, allowing casinos to advertise in the popular press.  Many expect this change of policy by the authorities to create another boom in the industry - possibly something to make up for the current troubles in the us.

The River Rock Entertainment Authority has unveiled Joseph Callahan as its new chief financial officer, with the appointment taking effect immediately.

The operator, which runs the renowned River Rock Casino in Sonoma, California were won over by Mr Callahan’s impressive history within the gambling industry.

Prior to taking up this new position, he had been the director of finance at the East Valley Tourist Development Authority as well as working for the Cabazon Band of Mission Indians, which operates the Fantasy Springs Resort and Casino, also in California.

In addition, he has also had experience working in the gambling capital of the world, Las Vegas, holding various financial positions at the Boulder Station Hotel and Casino and the Stations Casino in the Nevada city.

Commenting on the new appointment, River Rock’s CEO Shawn Smyth, said: “We are delighted to announce Joe’s appointment as Chief Financial Officer.

“His tribal gaming experience and significant financial and operational expertise are very well suited to our needs and we are thrilled to welcome him aboard.”

The developments come as rumours are circulating in California that the state is looking to legalize, regulate and tax internet poker, given that the market is potentially worth billions of dollars every year.

While there are many different strategies to follow when gambling, many of the more successful gamblers will look at value in the each way market - the market that traditional gives you a quarter of the wining return, if your bet comes in second, third or even fourth in some large fields. 

This is the market which allows you to have a look at some of the outsiders, who while maybe not ready for a win, may well have place attractions.  Effectively it is two bets in one, although a £5 each way bet wil cost you £10 in stake money - £5 on the win and £5 on the place.

The main market for place betting is the horse racing industry, where fields can vary from just three or four horses, to over forty in races such as the Grand National.  When you consider that the National favourites may go off at anything up to 8/1, with some outsiders priced at for example 100/1 there may be more value in a place bet.  If your 100/1 gamble were to come in the first four, you would receive a payout of 25/1, i.e. a quarter of the winning odds - not bad when you consider that the favourite may have been priced at 8/1.

Sound easy?

Unfortunately, in reality it may not be quite that easy with horses priced at 100/1 for a reason.  However, each way betting can come in useful where you believe that a well priced horse has a chance of winning, but you are fairly certain they will at least get a place.  Many gamblers will use this method as a way to at least protect their stakes, in the event that their horse is placed but does not win.

If your each way bet was to win the race, there is a double whammy as you will receive the traditional winning payout as well as a quarter of the odds for a place.  Each way betting does have some great attractions, but to get the best out of it you need to do your homework!

The humble dice has forever been associated with gambling, but do you know when the first die were produced and how they evolved? You may be surprised how old the concept is and when the first discoveries date back to. 

The term “dice” comes from the old Latin term datum which translates to “something given or played”, and while the actual item has changed over the years the concept is still the same.  Usually cubic in shape each side of the dice is numbered , or perhaps holds different symbols, which makes the simple dice so perfect for gambling.

Those of you who regularly frequent casino and betting venues will be aware that die usually come in pairs, another way to increase the chances of a potential out come and make the result as random as possible.  Gambling is effectively a game of chance and the higher the odds against wining, the higher the potential pot and the more attractive to the average gambler.

The first discoveries of dice go back over 5000 thousand years with the first ones actually made from the ankle bone of animals, which were multi sided, giving a number of potential out comes when thrown.  The materials then progressed to bone, ivory, wood, metal and stone and quickly became a major part of the gambling community.

History also shows that gambling was a way of life in the Far East many thousands of years ago, and the Roman’s also enjoyed to gamble, confirmed by the discovery of die during a number of excavations.  As you would expect with a product associated so heavily with the gambling industry, there have been many attempts to “tamper” with the makeup of die, effectively increasing the probability of certain results, i.e. fixing the game. 

Thankfully, in the current gambling industry the casino dice are provided by the establishment, and they are perfectly balanced in their structure to ensure a fair game - leaving the result to probability and chance.