Online Poker

By Wendeen H. Eolis

In the weeks before the United States Department of Justice swooped in to crack down on online poker with deadening force, by all outward appearances, Full Tilt Poker was at the top of its game. New offerings were popping up continuously, and Howard Lederer’s voice was a big part of the FTP picture —even though he had long since given up his role in day- to-day operations.  

 Ray Bitar, the CEO of FTP knew full well the increasingly perilous state of their operations, according to the Government, and several knowledgeable lawyers insist the die was cast for an indictment against him. They say he could and should have expected such a consequence from his actions.

by David “The Maven” Chicotsky

 Whether playing online or live, it’s very important to mix up the sizing of your bets, raises, and re-raises. There’s nothing wrong with having a good sense of the default amount you’d like to bet on a given flop, but always be willing to adjust your flop-bet. Size up or down from your baseline, depending on the known factors at the time.

 Let’s say you like to bet half of the pot on the flop as your standard continuation bet. There will be times where betting smaller or larger will be more optimal. If you’re in a situation where you have air and really need to get a fold, maybe bumping your bet up a little will make it more efficient. It’s also possible that you’ve already decided to only c-bet the flop and shutdown on the turn or river. This might be another scenario where you want to go ahead and increase the size of the bet.

by Haley Hintze

SOUTH POINT RECEIVES FORMAL NGC APPROVAL

 South Point Poker, LLC, the online counterpart to Las Vegas’s South Point Hotel, Casino & Spa, received the first official Nevada online-poker operator’s license in late August, following its previous passing of a suitability hearing. With software development already entering the testing phase, South Point will likely be the first Nevada online poker site to debut, probably before year’s end. Reno’s Monarch casino received Nevada’s second interactive operator license only moments after South Point, but has not aggressively pursued a market-entry strategy.

POKER DECLARED GAME OF SKILL IN EDNY COURT DECISION

by Wendeen H. Eolis 

Initially, the media flares of July 31, 2012 put out by PokerStars, Full Tilt Poker (FTP), and the United States Department of Justice (DOJ), announcing a deal amongst them that would allow PokerStars to acquire the assets of FTP, ignited only a modest amount of fanfare; the poker community had already learned that the parties were poised to close the deal.

DOJ Stance on Settlement Agreement

 Within hours of the formal announcements, however, an assortment of lawyers, news analysts, protagonists, and pundits, began to weigh in on all that was left silent in the settlement agreement of the DOJ’s civil forfeiture claims against PokerStars and FTP.

by Haley Hintze

SOUTH POINT AWAITS NGC SUITABILITY HEARING

 Las Vegas staple, South Point Hotel, Casino & Spa moved forward with its announced plans to offer real-money online poker to Nevadans by year’s end after being slotted for one of the Nevada Gaming Commission’s suitability-hearing slots in early August. South Point and its owner, Michael Gaughan, have filed multiple applications covering all aspects of a new Nevada online-poker enterprise, and continue the development and testing of a new South Point Poker platform, to be rolled out in the coming months.

FULL TILT’S BURTNICK SURRENDERS TO US AUTHORITIES

 Only weeks after a surrender and plea deal for Full Tilt CEO Raymond Bitar, the firm’s payment-processing director, Nelson Burtnick, surrendered to US authorities on related “Black Friday” charges. Bitar and Burtnick were the subjects of a DOJ-authored “superseding indictment” which restricted and enhanced the charges against the pair, which were largely banking-and wire-fraud in nature. Burtnick was arrested at Newark Liberty Airport after returning from Ireland to face the charges, and was subsequently released on $500,000 bail.

By Wendeen H. Eolis

[Update: Deal is now complete and official. (PokerStars Blog)]
 

At the end of last week, Poker Player Newspaper ("PPN") released breaking news that thundered across the online poker globe, announcing in very careful language that the die had been cast, effectively, for a completed deal between PokerStars and the United States Department of Justice to acquire the Full Tilt Poker ("FTP") brand.

 One business day later, the poker natives are at peak restlessness, fuming over the delay in a concrete announcement by any of the parties that would confirm or bury the PPN bulletin.

by Wendeen H. Eolis

 Breaking News: The ups and downs and glitches in negotiations between PokerStars and the United States Department of Justice with respect to Full Tilt Poker have come to an end. 

 Without giving away the identity of a consistently impeccable resource, it is now safe to say announcements for public dissemination are in the works.  At this point I am ready to go out on a limb; FTP customers will see their monies well in time for Christmas shopping.

An editorial by Stanley R. Sludikoff, Poker Player Newspaper Editor/Publisher

Those who cannot remember the past are condemned to repeat it. —Georges Santayana

 Thanks to a very slow moving US Attorney, we are still in the midst of a major poker industry scandal. Do you remember how electronic cheating was found on the now bankrupt Ultimate Bet/Absolute Poker network? Do you remember how all the customers of those internet web sites did not get their deposit accounts back? Are you still waiting to get your Full Tilt Poker deposit back? Indeed, will you ever get it back? These questions, and their answers, should be at the forefront of your mind if you are contemplating playing internet poker in the future.

By Haley Hintze

 BALLY TECHNOLOGIES, IGT RECEIVE NEVADA ONLINE-POKER APPROVAL

 Nevada’s first licensees connected to the state’s upcoming intrastate online-poker offerings were issued in late June to in-state slot machine manufacturers, Bally Technologies, and International Game Technology (IGT). Both Bally and IGT have positioned themselves to provide infrastructure for online sites, and will partner with existing brick-and-mortar casinos. Bally has already inked a deal with the Golden Nugget, and ShuffleMaster, while IGT previously acquired the Euro-facing Entraction Network, giving the company a ready-made poker platform.

 PINNACLE ENTERTAINMENT ACQUIRES HPT IN EPIC POKER BANKRUPTCY AUCTION

By: Wendeen H. Eolis

Phil Ivey Signs on For the Big One

 Phil Ivey the most worshipped poker star will take a seat in the upcoming million dollar buy-in tournament at the 43^rd Annual World Series of Poker that is now well underway at the Rio All Suites Hotel and Casino in Las Vegas.  No longer battling with his Full Tilt alma mater, far from the embrace of  Isai Scheinberg and PokerStars  when outside the US, and oblivious  to the short–lived Epic Poker League, Ivey is back in his element after a two year sabbatical at the richest and most prestigious poker tournament in the world.