Tag: Full Tilt Poker

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.

Interesting session

My favorite three donk moves. Two are live play from the 2/5 $200 max at the Bellagio. The third one is online.

First hand. I played by my brother CooperMc last Spring. Some quick back ground, he had never played live NL before and he was a total rock for the first hour we have played at the table. We had been at the table for an hour and this was the first hand he had raised.

UTG raises to $15 two callers. CooperMc raises from the button to $75. Gets called by the preflop raisor who starts the hand with $150 or so. Flop is J88. Villian checks, CooperMc pushs all in. The guy shrugs and calls. At the Bellagio you have to turn your cards over when you are all in.

CooperMc shows AA villian KQo. The look on CooperMc’s face was priceless, I dont think the players at the table intimidated him after that.

Second hand.  Another hand I didnt play but got to see and laugh at.

Limped preflop. Flop is ATT, UTG bets, MP raises, the button shakes his head and and pushs all in. Bettor folds, raisor calls. Button had limped with KK had $5 invested out of his $200 buy in. Ummm what did you think you had beat? Raisor shows KTo and KK misses his one out.

Third hand. This guy won the hand, but I could not believe how badly he played it. $100 NL at Full Tilt Poker. I get KK in MP. UTG min-raises, a couple of folds, I raise to 6x the BB, UTG is the only caller.

The flop comes Q33 rainbow. He bets full pot into me, I think for a minute. 33 is unlikely. QQ is definitely possible for this donk, but I won’t believe him until given more evidence. Turn 7. He checks, I’m sure he’s not on QQ now and bet 1/2 pot, he calls. River Q for a board of Q337Q. He checks, I consider value betting but can’t imagine what would call that I’m beating, so I check behind. He shows QJo

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