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Case Against Online Poker Payment Processor Closed

Last year’s US court case regarding Ahmad Khawaja, online payment processor, is finally over after the FBI confiscated more than $13 million from Allied Systems and Allied Wallet, two payment processors involved in online poker transactions with the world’s biggest online poker site, PokerStars.

The FBI claims that funds were seized after violations of the UIGEA was violated, though the confiscated amount is only a fraction of the total value of cash that what was actually transferred back and forth via the two processors during 2009.

The investigation that ultimately brought down the companies involved specifically eight bank accounts that were allegedly in direct conflict with orders set forth by the UIGEA. In defense of the accused, it was argued that the UIGEA was convoluted and in fact permitted such transactions to be made legally. Unfortunately though, however such transactions may be “hidden” in writing, efforts to slip them under the radar were not effective in these cases.

A statement made by PokerStars follows:

“PokerStars does not condone efforts by processors to conceal the nature or purpose of funds used to play online poker. PokerStars has taken steps to ensure that processors properly disclose the nature of their business to their relevant financial institutions.”

Attacking the payment processors that facilitate online poker transfers is the only way for the feds to enforce the UIGEA, as there is no actual criminal activity taking place. The UIGEA is in fact convoluted and while it hasn’t done much to stop or even deter the existence and progression of online poker, and gambling in general for that matter in the US, it does point fingers at the financial institutions that facilitate online gambling between players and the gambling sites.

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Chinese Cheaters Outed at PokerStars

According to the 2+2 forum, a recent scandal on PokerStars resulted in the discovery of a Chinese collusion ring, which led to a $2 million refund to affected players. The popular poker forum revealed that there were multiple Chinese players registering for the same Double or Nothing (DoN) sit and go tourneys around the $52 to $104 buy-ins. These single-table tourneys start out with 10 players and the last five players standing cash out with double the buy-in.

In the case of the Chinese cheaters, the players would reveal to each other their hole cards and purposely exchange piles of chips to ensure they’d cash out winners. These guys’ ironically outed by one of their own. One of the players, “Jane0123” posted a thread in May that stated PokerStars had suspended his account and frozen the $10K in it. This was the resulted of regular DoN players reporting to PokerStars that something seemed fishy.

A month later, PokerStars paid out just under $600K to affected players, but Stars players demanding more, and the reparations were recently upped to $2 million. Although the online poker site has done much to amend the issue, there still seems to be a problem. 2+2 posters have still reported new accounts held by Chinese players with similar playing styles to that of the collusion ring in tournaments and 7-card stud games.

While the problem is obviously far from over, there is likely to be some sort of policy put in place to prevent this from happening in the future, as it seems like this practice has become an epidemic that will hopefully be contained very soon. This isn’t the first time that online poker has been the center of a scandal, but the PokerStars brand name and reputation is now tarnished. However, Stars is much too big an empire to allow such a negative connotation to be associated with their brand as say UltimateBet, which ultimately re-branded as UB.com in an effort to save what little dignity they had left.

Legends of Poker Begins Friday in LA

The World Poker Tour will host the Main Event of the $5K Legends of Poker NL Hold ‘em championship on August 20th at the Bicycle Casino in LA. Day 1A begins at 1:00 p.m. PDT and Day 1B will follow on Saturday, August 21st, culminating on Wednesday the 25th.

Participants will start the tourney off with 25K chips at nine-handed tables with blinds starting at 50/100 and 90-minute levels with 10-minute breaks between. A dinner break is scheduled each night of the tournament from 7:30 p.m. until 8:30 p.m.

Preliminary events began on July 28th and 21 events have resulted in winners including Soheil Shamseddin with a $10K win on $225 PL Omaha 8s or Better with Rebuys and Murdock Schelechi’s $130K win in the $335 NL Hold ‘em event that saw more than 1,700 registrants and a guaranteed prize pool of $400K.

Last year, the Legends of Poker tournament crowned Prahlad Friedman champion with a $1+ million purse, who placed first after buying into a 279-player field with $10K that resulted in a $2.6 million prize pool and 27 places paid. Other past winners include the legendary Doyle Brunson, who won the third Legends of Poker tournament and a cash out of almost $1.2 million.

With the buy-in reduced by 50% this year, there is likely to be a bigger starting players field than years past. Of course the prize pool is likely to be cut as well, but it shouldn’t deter attendance.

The tentative schedule for the tournament will continue through Tuesday daily at 1:00 p.m. until the final table is determined. On Wednesday, the final table will resume play at 4:00 p.m. until a winner is determined.

Mizrachi Signs as a Poker Instructor with DeepStacks Live

Recently, Michael “The Grinder” Mizrachi landed a spot in the 2010 WSOP Main Event final table. Now in 7th place in terms of chips in this year’s November Nine, Mizrachi has come a long way in the five or so years that he’s been playing. Racking up more than $8.5 million in tournament winnings, $2 million of that from the 23 WSOP cashes he’s incurred including a first place win in the $50K Players’ Championship, the Grinder is a force to be reckoned with in the poker world.

It is for this reason that he’s been signed with DeepStacks Live exclusively as a poker instructor. Not just a pro at an online poker site, Mizrachi’s deal provides a real job with a poker training site company. Mizrachi will actually be teaching poker classes in Florida where new laws have allowed for uncapped play. It is important for poker players in Florida to learn new tactics and change their approach to poker in order to defend themselves when more experienced players come in from out of state.

“I had a lot of options after the WSOP, but DeepStacks Live was the right fit for how I play and how I want to teach others to play. They are the most innovative and hands-on training company,” stated Mizrachi in a press release.
Mizrachi will join the ranks at DeepStacks Live with other famous poker players and instructors, Hall of Famers Mike “The Mouth” Matusow, Tom McEvoy, and TJ Cloutier.

To find out where upcoming training locations and sessions will be held in Florida, as well as California, Mississippi, New York, Nevada, Oklahoma, and throughout Canada, visit www.deepstacks.com.

Criminal Allowed to Play Poker to Save Jail Time

Samuel McMaster, an ex-stockbroker from New Mexico and poker conman, convicted of swindling at least 20 people is being given an unusual shot to pay off his debts. He has been given the opportunity to compete in live poker tournaments throughout the country in an effort to earn the money back he owes to his victims.

McMaster, who admitted to 26 felonies of securities fraud, owes $444K to his victims. He has been given a delayed sentence so that he may work over the next six months to win restitution owed of $7,500 per month. If he misses two of those payments, he will immediately return to court to face sentencing of up to 12 years in prison.

McMaster’s attorney claims that his only source of income right now is poker. He’s actually been accused of using the stolen money to originally fund his gambling habit. McMaster is known as a poker shark and pro, but that remains to be seen. Over the last seven years, he’s own cash a few times in live tourneys and for minimal amounts since 2003, the biggest cash out being a $1,000 buy-in to a 2008 Bellagio tournament in which he won $12,550. He’s never even cashed at the WSOP. The court has actually granted him leave to play out of state tournaments.

Because the IRS recognizes pro poker as a profession, the New Mexico judge claimed there was not reason enough to prevent McMaster from “working” in order to earn the money to pay back to his victims. Furthermore, he poses no real threat.

The New Mexico prosecutor on the case, Phyllis Bowman, said, “There’s nothing to indicate he is a violent threat to society. The conditions of his release have nothing to do with his profession.”

It all seems very unconventional when taken in perspective of the US judicial system. However, according to Kelly O’Donnel, superintendent of New Mexico’s state regulation and licensing department, “If he demonstrates an ability to successfully meet his restitution payments by playing poker, it potentially could sway the judge’s decision on final sentencing. How much jail time he gets ultimately is up to the judge.”

Phil Laak OK After Major ATV Accident

Phil “The Unibomber” Laak, pro poker player, was involved in an unfortunate ATV accident last week and as a result was hospitalized. Laak and fellow poker players, David Wells, Brian Rast, Antonio Esfandiari, and Alec Torelli, along with other friends, were on their way to a camping trip in Oregon when Laak lost control of his ATV. Though the injuries are minor, they included lacerations to his right eye and broken bones.

Esfandiari, who was with Laak in the hospital, told sources, “We were following Dave and Tony on the ATVs and we were keeping up very well. We went over a sand dune, but there was a drop hidden behind it. It could have happened to either of us, honestly. Phil tried to jump off in mid-air, but he ended up landing on his bike. His elbow is broken and his wrist is all jacked up. His eye is also really messed up. Had it been one millimeter off, he’d probably be blind.”

Despite the upset though, Laak still found time to update his Twitter page @ RealPhilLaak. On August 5th: “Atv accident, massive arm injury and lacerations to eye in oregon. Life is good.” Then later that evening, he posted, “Stitches forthcoming. Could have been worse I’m lucky to be in one piece.”

Laak still remains in good spirits. Esfandiari says “he is handling it all very well.” He went on to explain that Laak “was even cracking jokes with the police and paramedics who were on the scene. He wants to fly home tonight [Friday], but they aren’t sure if they will let him. We might have to drive.”

According to his Twitter page @ RealPhilLaak, he did make it home and is now in the arms of his girlfriend Jennifer Tilly. His last post on August 7th read: “Jennifer is the best. Cuddling w her is better for the pain then even my perkocet pain medicine.”

He posted this pic on Twitter:

WSOP Main Event Airs on ESPN Tuesday Night

ESPN will begin airing the 2010 Main Event tomorrow at 8:00 p.m. ET. As usual, Lon McEachern and Norman Chad will co-host the event. This week features Mike “The Mouth” Matusow, 2010 Poker Players Champion and 2010 November Nine member Michael “The Grinder” Mizrachi, 2003 world champion of poker Chris Moneymaker, 2004 world champion of poker Greg Raymer, and many more.

Also expect to see Annette Obrestad, former main event champ Dan Harrington and Erick Lindgren, 2008 Player of the Year, not to mention the 7,000+ additional players who gave it a try at the 2010 WSOP this year.

Each week thereafter on Tuesdays starting at 8:00 p.m. ET until 10:00 p.m. ET, you can catch more 2010 WSOP Main Event action leading up to the November Nine finalists who will reunite at the Rio All-Suites on November 6th to vie it out for the title of world champion of poker and take home $9 million in poker winnings.

2010 World Series Main Event highlights can also be seen in the same time slot on ESPN HD and ESPN Mobile TV channels. Episodes will re-air later that same morning from 1:00 a.m. ET until 4:00 a.m. ET on ESPN 2 and ESPN 2 HD channels.

Episode 1 will feature Day 1A and Day 1B. Episode 2 will air on August 17th and will feature Day 1C and Day 1D. The remainder of the Main Event will air on Tuesdays between August 24th and October 5th from 9:00 p.m. ET until 11:00 p.m. ET. On October 12th, Day 7 of the Main Event will air from 9:30 p.m. ET until 11:30 p.m. ET, and the remainder of the Main Event will air between October 19th and November 9th between 9:00 p.m. ET and 11:00 p.m. ET.

WSOP and Harrah’s Free Online Poker Platform Up and Running

About one month ago WSOP launched its online poker site, free for US residents. To advertise the big event, Harrah’s has introduced a PR campaign that included an advertisement in the USA Today. Americans can also expect to see television commercials on ESPN during WSOP broadcasts advertising the new online poker platform.

So while Harrah’s has officially stepped foot in the online poker market in the US, it’s only “play money” that’s at stake for now. Although the play chips are not worth any value, Communications Director for WSOP, Seth Palansky, says that prizes such as WSOP 2011 seats and exclusive vacations at Harrah’s Las Vegas properties will be introduced sooner than later.

Palansky says, “This was the next logical step for us. We’ve seen a very good response, with a lot of folks downloading the game.”

Harrah’s partner is Dragonfish, real-money online poker company operating in the UK. Rep. Barney Frank’s poker bill stirred up a ruckus recently indicating that regulated US online poker might actually be a possibility again. Harrah’s wants to be on the forefront of the game plan if such regulation does ultimately pass, though Palansky does not imply this has anything to do with their actions, but rather their focus is on brand building.

“We watch these things closely, but it doesn’t affect how we operate on a day-to-day basis,” says Palansky. “We have enough opportunities to seize and deal with currently that we don’t have to worry what may or may not happen.”

The bill still has a long way to go if it is to ever be passed and ultimately implemented.

According to Palansky, WSOP launched a social networking poker app a few weeks ago. “We’ve had video games in the past. We’ve had a very successful WSOP mobile game that’s in the market now, and has done really well. Now, you can play through Facebook. This and [the play-money poker software on wsop.com] both basically have the same intent—a brand-building World Series of Poker official online game.”

PartyGaming to Merge with bwin

It’s now official; PartyGaming and bwin have confirmed they plan to merge. I this merger goes as planned, these two companies will form the world’s biggest online gambling conglomerate to be publicly traded. The $1.76 billion deal will break down with 48.4% of shares owned by PartyGaming shareholders, and the remaining 51.6% owned by bwin shareholders.

With bwin’s successful sportsbook and PartyGaming’s thriving casino and poker platforms, the two companies are believed to complement each other well to serve together as a strong brand.

Incorporated in Gibraltar, the new company will be co-run by CEO of bwin, Norbert Teufelberger and CEO of PartyGaming, Jim Ryan. However, the merger must be approved by 75% of both PartyGaming and bwin shareholders during 2011 first quarter shareholders meetings. Once approved, all assets and liabilities of bwin will be transferred to PartyGaming, and the new corporation will be incorporated in Gibraltar. bwin will then be removed from the Vienna Stock Exchange, and shares of the new combined company will be open for trade on London’s FTSE.

Teufelberger announced the merger in a statement that included the following: “The business combination makes great strategic, operational and financial sense.” He went on to explain, “We will be in pole position to capitalize on the wealth of opportunities that will flow from the continued evolution and expansion of the global online gaming industry.”

Ryan also made a statement: “With market-leading positions in poker, sports betting, casino and games (in particular bingo), the enlarged Group will have a winning formula to exploit the growing gaming market, supported by a strong balance sheet, significant cash flow generation and a highly experienced management team.”

This merger would in fact create a power brand that could possibly exert enough force within the industry to redefine online gambling as we know it today—for the better.

Headway Made in the Fight For Legalized Online Poker in the US

It’s been a long time coming, but Congress finally returned a positive vote on an online gambling regulation bill that went through on Thursday. Barney Frank’s bill was supported by Democrats in the House Financial Services Committee where the vote turned out 34 to 4 in favor of the bill. While this is only just a start, it paves the way for the future of regulated and licensed online poker activity in the US.

Attached to the bill were 14 amendments that would outline the laws of online gambling, should the bill be passed in the future. Most of these amendments work together to prevent addictive behaviors and credit gambling. One amendment actually requires online poker sites to implement technology, allowing players to put a cap on losses. Another provision implies the importance of the random number generator, making sure that the RNG is used and on the up and up. The need for a government study is also included in the bill which will study the problems with gambling under the influence. Also, licensing would be given based on the fact that the majority of staff workers in an online gambling corporation must be employed in the US and all gambling sites receiving licensure would have to be located in the US. Another surprising provision states that credit cards would no longer be used to make deposits. And finally, not very surprising, sportsbetting is a big no-no, with the exception of course of pari mutual racing.

While this is one small step for the US online poker activists, there is opposition to the bill even among proponents of online poker. This bill as it stands, if passed, would ultimately shut out the majority of online gambling brands who dominate the US online poker force. This would in turn open the gates for the big name land-based casinos like Harrah’s to move in and take over.

Time will tell…

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