Poker news

Poker regulatory bodies

While everyone agrees that a regulated market is a good thing for the poker industry, it is yet hard to find bodies to implement this regulation.

With Full Tilt Poker, we all discovered that whatever these agencies are, none of them had done its work correctly, resulting in an incredible situation where thousands of poker players find themselves relieved of millions of dollars and not knowing how to get their money back.

We can blame the AGCC who seemed to have known for a while how bad the Full Tilt balances were, and we can also blame the ARJEL (French regulatory body) which did not conduct any serious research before granting a license to Full Tilt. French poker players could have been saved from this scandal, but because of the ARJEL they also end up with millions of dollars lost. While the primary role of the ARJEL was to ensure the security of players’ funds, it is difficult to understand how we reached the current situation.

It can be even more surprising to consider the role of the AGCC which in addition to hiding crucial information has also been completely inefficient in understanding the amount of money seized by the DOJ. This money could be recovered as part of an amicable settlement with the Justice Department. Initially the AGCC announced that $331 million were seized when in fact the DOJ only confiscated $115 million, which adds a hole of $200 million to the debt of Full Tilt.

Full Tilt, who was seeking a buyer has been heard on numerous occasions during the hearings with the AGCC but strangely all these discussions were based on wrong figures. We understand better why for the moment the buyers take their time, even if the Tapie Group announced its intention to purchase the site. With this new announcement of a $200 million additional debt, one would think that the negotiations are far from over.

What future has the regulation of online gambling and which structures will be put in place to ensure its integrity. It was clearly seen that ARJEL has completely missed its entrance exam by assigning a license to a site like Full Tilt. So be it incompetence, lack of resources or ignorance of their work, something must be done to rectify the situation.

Now the question remains that smaller operators which spend in marketing to make themselves known to the majority are having a hard time. And that it is time to give the players a better environment to play their favorite game.

November Nine 2011

The WSOP 2011 has finally ended or at least its summer section, as the Main Event will only be completed in November. But the final nine players who will participate in its final table are now known under the nickname of the ‘November Nine’.

6865 players had enrolled in the main event, less than last year but still a more than honorable number given that Black Friday had removed the possibility to qualify through satellite tournaments at Pokerstars, Full Tilt Poker or the Cereus Network. There were some players from smaller rooms such as Carbon Poker and its nice Carbon Poker Bonus Code, but less than usual.

This year there is no famous pro at the final table, unlike previous years. In 2010 we had Michael Mizrachi and in 2009 Phil Ivey, plus a bunch of pros. This year there is only one notable pro but he is pretty much unknown to most poker aficionados as he only rose to poker stardom this year with a meteoric rise. Ben Lamb indeed already won a WSOP bracelet. He made two additional final tables and is now the leading candidate for the coveted title of ‘Player of the Year’.

We will have to wait four months to watch this most anticipated final table, but one sure thing is that you will hear about Ben and the other eight lucky finalists. No one will come home with less than $782k, but more significantly the World Champion will pocket the cool sum of $8,711,956.

Clearly a life changer.

Ben Lamb who already has more than $2 million in WSOP winnings is the one player you are going to hear about. Beyond his 2011 WSOP bracelet he has won other poker championships as well as significant online poker tournaments such as one event at the Spring Championship of Online Poker (SCOOP), which is an online poker competition created by PokerStars.

Copyright © 1996-2010 Holdem Lights. All rights reserved.
Jarrah theme by Templates Next | Powered by WordPress