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Online Poker Black Friday

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Lou Krieger

No Limits: Poker’s World Series - Part 1 of 2

by Lou Krieger
Each year the world’s best poker players and myriad pretenders converge in Las Vegas to compete in the World Series of Poker. The series used to be held downtown, at Binion’s Horseshoe in “Glitter Gulch,” but ever since Harrah’s purchased the WSOP and moved it to the Rio All-Suite Hotel and Casino just off the Strip, its growth, success, and popularity over the past half-decade has been almost unimaginable. The Rio’s big draw is its convention center, which is large enough to hold more poker players than you could ever imagine convening in one place, if you haven’t yet seen and experienced it for yourself.

No-Limit Hold'em's Age Gap

by Lou Krieger

 

Maybe it was the day, or the time, or just a random confluence of forces, but there’s a big difference between younger and older no-limit hold’em players. What brought this clearly to light was a full table no-limit game, where seven of the table’s players looked to be on the downhill side of 50. And the majority of older players made one similarly shocking error. They significantly overvalued big pairs.

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WWJD … or How Did the Full Tilt Debacle Come to This?

By Lou Krieger
 
It was no surprise when the Alderney Gambling Control Commission pulled the plug a few days ago on Full Tilt Poker, especially when they determined that Full Tilt misled them about their financial operations, never mind the fact that Full Tilt committed numerous acts in violation of their licensing agreement, including filing false reports, unauthorized provision of credit, and failing to report material events.
 
But where and how did it all start?  And when did Full Tilt’s management cross the line and decide to treat money belonging to players as their own, personal ATM machine?
 

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Interview with Phil Hellmuth PART 2

By Lou Krieger and Shari Geller
 
In this second part of our interview with Phil Hellmuth (read the first part here), we discussed what else Phil was working on (the answer: two new books—one a biography titled “Poker Brat, “the other a book on “how to achieve great things.” We also discussed his three narrow misses in his effort to win his twelfth WSOP bracelet, and a few random thoughts on the future.

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Feds Accuse Full Tilt Poker of being a Global Ponzi Scheme

By Lou Krieger and Shari Geller
 
 
If Full Tilt Poker and its high profile celebrity executives didn’t think things could get worse for them, they were wrong.  The US Department of Justice recently upped the ante in an amended complaint by accusing Howard Lederer, Chris Ferguson and others of running Full Tilt Poker as a Ponzi scheme and defrauding poker players out of more than $300 million.
 
“Full Tilt was not a legitimate poker company, but a global Ponzi scheme,” said Preet Bharara, US Attorney for the Southern District of New York.   The amended complaint alleges that Chris Ferguson, Howard Lederer, and two other directors for Full Tilt Poker, ran a Ponzi scheme in which they paid $444 million to themselves and other owners—which include other well-known poker players—by siphoning off money from players’ accounts.
 

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Trusting Your Analysis, PART 2

by Lou Krieger

In my last column we talked about how Dan Harrington made a play contrary to his image at the 2004 WSOP final table to win a big pot. Josh Arieh and Greg Raymer were playing very aggressively at the final table—but each folded when facing a reraise by “Action” Dan Harrington. With a very tight image, Harrington entered very few pots. But when he did, he came in raising, and he only showed down high-quality hands. Although Arieh and Raymer had significant money in the pot, they folded when Harrington made a play at the pot. This was so totally out of character for Harrington’s image that Arieh and Raymer each bought the story, and never realized that “Action” Dan had stolen a big pot right out from under their noses until seeing it on TV months later.

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Trusting Your Analysis, PART 1

by Lou Krieger

You gotta believe. Fans of the underdog team at sporting events are always holding up signs with that thought, or something similar, for all to see. The favored team is going for the kill. The underdog, like some biblical David, rides in on a wing and a prayer and a belief that he can beat Goliath and win the day. In addition to having the skill sets and the ability to make tough decisions and be right about them more often than not, great players also have the courage of their convictions. If they’ve demonstrated that they have the ability to make good reads and decipher what their opponents are holding—or, more precisely, have a good idea about the range of hands they’d play under these circumstances—great players need to stick with their reads and act on them even when they’re occasionally wrong.

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Interview with Poker Pro Phil Hellmuth Part 1

By Lou Krieger and Shari Geller

 We had a chance to talk recently with Phil Hellmuth. In Part 1, we discuss his new venture, an iPhone app. In Part 2 we discuss Hellmuth’s amazing three near-misses at this year’s World Series of Poker, what else he’s working on, and his predictions for the future of online poker’s legalization.

 PPN: Why don’t you start with what the Phil Hellmuth Poker Odds Calculator is, how it works, and when you’d use it.

 Hellmuth: Well, it’s a really cool app. Any time you’re in a poker hand, you can pull it out and you can see exactly what the odds are. The unique thing about this—and of course you can run it on fourth street and you can run it on the flop—is that you can run your hand against a range of hands.

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Canadian Class Action Suit Filed Against Full Tilt

 
By Lou Krieger and Shari Geller
 
Canadian attorney Jeff Orenstein of Consumer Law Group, Inc. filed a class-action lawsuit in the Quebec Superior Court in Montreal against Full Tilt Poker.  The class action is brought on behalf of all Canadian players who have funds being held by Full Tilt in their player accounts.  The lawsuit arises out of Full Tilt Poker's alleged illegal freezing of customers' money following the suspension of its license on June 29, 2011 and its subsequent failure and refusal to return those funds.
 

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"Poker Refugees" Offers Relocation Services For Online Players

By Lou Krieger and Shari Geller
 
In chaos, there is frequently opportunity, and from the chaotic conditions for online players caused by Black Friday, poker forum PocketFives launched a service called Poker Refugees, designed to simplify the process for online poker players who want to relocate to poker-friendly countries such as Canada, Costa Rica, and Panama.
 
Poker Refugees’ variety of services include one-on-one interviews with clients, guidance on how to play on sites like PokerStars and Betfair, high-speed internet with a backup connection, detailed requirements and tips for setting up a local bank account, a selection of quality properties to choose from, complimentary airport pickup, referrals to competent English-speaking professionals in whichever country is selected, and guidance on how to buy a car or get a long-term rental.
 

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