Announcement

Collapse
No announcement yet.

Announcement

Collapse
No announcement yet.

Online Poker On The Comeback

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
  • #1

    Online Poker On The Comeback

    So online poker is expected to be legalized on a state by state basis, starting with Nevada within 60-90 days. So far only Nevada, and only players living in or visiting Nevada can play on the sites. Suggestions are that California may join Nevada soon, and the player pools for the two states could be merged.

    It's a step in the right direction ... but I imagine the player pool will be small and tough. Winnings (withdrawals) will be auto taxed at 6.75% (which very seems reasonable considering the sites themselves are being taxed also).

    Casinos To Receive Online Poker Licenses This Fall
    http://www.cardplayer.com/poker-news/13777-casinos-to-receive-online-poker-licenses-this-fall
    The World Series of Poker may be over for the summer, but the game is still taking center stage in the Las Vegas gaming world. On Wednesday, the Nevada Gaming Policy Committee, led by Gov. Brian Sandoval, met again to discuss intrastate web poker in a public setting. The first industry of its kind in the U.S. could be underway before 2013. Nevada Gaming Control Board Chairman Mark Lipparelli, one of 11 members on the panel, said that the first real-money operator licenses, which are reserved exclusively for casinos, will come through in 60-90 days. So far, just three companies (Bally Technologies, International Game Technology and Shuffle Master) have been given approval to provide Internet poker software to Silver State casinos. Licensing and technology inspection are the only impediments to play commencing, as the Gaming Policy Committee voted to recommend that the state legislature remove some now-pesky language from 2011’s online poker bill. The bill was passed before the Department of Justice clarified the 1961 Wire Act in December of last year. The opinion made intrastate web gaming free and ...


    In the rest of the world, we are all very patiently waiting for Zygna poker to go real money ... it is in the process, and I've recently just started playing again to build up a bankroll in preparation for poker boom part II. They expect to go live at the end of 2012 or early 2013.

    FYI ... Zygna poker has 7.5 million daily users on facebook and 10's of millions of registered users ... dwarfing the combined players pool for every poker site by about 100x.
    Last edited by johnnya24; 07-26-2012, 01:32 PM.
    Tags: None
  • #2
    It was only a matter of time. No way was the government going to leave that much potential tax revenue untapped. If Nevada and California do it, I'm sure Colorado will be right on their heels.

    Zynga for money? Eeesh, I don't know that I could stomach throwing money into a game where the play is so bad and so random.
    "When I use a word," Humpty Dumpty said in rather a scornful tone, "it means just what I choose it to mean - neither more nor less."
    "The question is," said Alice, "whether you can make words mean so many different things."
    "The question is," said Humpty Dumpty, "which is to be master - that's all."

    Comment

    • #3
      Originally posted by senorsheep View Post
      It was only a matter of time. No way was the government going to leave that much potential tax revenue untapped. If Nevada and California do it, I'm sure Colorado will be right on their heels.

      Zynga for money? Eeesh, I don't know that I could stomach throwing money into a game where the play is so bad and so random.
      So far it is only intrastate ... but they can't be foolish enough to not find a way to allow states who want to make it legal to pool resources. It also said that MTT's will not be taxed ... but how will they do this if winnings are being taxed at source on withdrawal ... unless money won on MTT's is classified differently by the site.

      As for Zygna ... this will definitely require mega-multi-tabling to avoid the obvious swings. I well remember the tilt that ensued at Pacific Poker in the early days when guys would call all in with a gutshot on the turn and hit ... some serious life-tilt sh!t there. I can comfortably multi table 6-max up to 6 tables. 4 tables is optimal for giving 100% to each table ... but 6 is pretty close. With the potential swings at Zygna, I'd like to get that up to 8 tables. Will practice at NL10 and NL20 for a bit.

      Comment

      • #4
        Also ... there seems to be strong indications that Poker Stars have struck a deal with the DoJ to buy FTP and pay back the players

        http://www.pokerplayernewspaper.com/content/full-tilt-pokerstars-negotiations-can-12310


        Anyone have $$ on FTP before Black Friday?

        Comment

        • #5
          Originally posted by johnnya24 View Post
          FYI ... Zygna poker has 7.5 million daily users on facebook and 10's of millions of registered users ... dwarfing the combined players pool for every poker site by about 100x.
          It'd help their stock if they became a gambling site.

          Comment

          • #6
            Originally posted by JudeBaldo View Post
            It'd help their stock if they became a gambling site.
            My buddy is one of the finance guys there, ill get the scoop from him this sunday at the giants game
            "You know what's wrong with America? If I lovingly tongue a woman's nipple in a movie, it gets an "NC-17" rating, if I chop it off with a machete, it's an "R". That's what's wrong with America, man...."--Dennis Hopper

            "One should judge a man mainly from his depravities. Virtues can be faked. Depravities are real." -- Klaus Kinski

            Comment

            • #7
              Originally posted by eldiablo505
              I had about $100-150 or so. That would be sweet if I got that back.
              I don't know if you'll get the whole amount back ... hopefully, but you will for sure get a % back. I had about 70000 FTP points ... no chance I get recompense for that.

              Comment

              • #8
                Originally posted by JudeBaldo View Post
                It'd help their stock if they became a gambling site.
                Yeah they were massively overvalued ... with the fall in their stock price, it could be a good time to take a gamble and buy some Zygna stock. If I had some spare $$ I'd be thinking about finding the right time. I've no idea were rock bottom is though. If real money Zygna works, it could be huge.

                Originally posted by Fresno Bob View Post
                My buddy is one of the finance guys there, ill get the scoop from him this sunday at the giants game
                A friend of a friend works for Zygna, and is apparently worried about her job ... at least that is the mood around the company after the quarter they had.

                Comment

                • #9
                  Who said poker wasn't an olympic sport?





                  Last edited by johnnya24; 07-30-2012, 11:01 AM.

                  Comment

                  • #10
                    Originally posted by johnnya24 View Post
                    Who said poker wasn't an olympic sport?

                    LOL. There must be a severe shortage of notable citizens in Lithuania...
                    "When I use a word," Humpty Dumpty said in rather a scornful tone, "it means just what I choose it to mean - neither more nor less."
                    "The question is," said Alice, "whether you can make words mean so many different things."
                    "The question is," said Humpty Dumpty, "which is to be master - that's all."

                    Comment

                    • #11
                      Originally posted by senorsheep View Post
                      LOL. There must be a severe shortage of notable citizens in Lithuania...
                      he apparently is the BBall teams Bank.
                      I'm not expecting to grow flowers in the desert...

                      Comment

                      • #12
                        Originally posted by johnnya24 View Post
                        Who said poker wasn't an olympic sport?

                        Hellmuth was right, we are watching it online 4 years later!

                        Ottawa Triple Eh's | P.I.M.P.S. | 14 team keep forever
                        Champions 16,21 | Runner up 17,19-20

                        The FOS (retired) | MTARBL | 12 team AL 5x5
                        Champions 01,05,17 | Runner up 13-15,20

                        Comment

                        • #13
                          Poker stars have bought FTP ... here are some answers from Lee Jones

                          463 Restricted Client - DOSarrest Internet Security
                          http://forumserver.twoplustwo.com/29/news-views-gossip/official-pokerstars-announcement-regarding-ftp-doj-no-low-content-meme-posts-please-pp-1228781/


                          Statement (C/P from 2+2):

                          Hi folks -
                          Obviously it's a big day for all of us. If you haven't seen the official announcement from PokerStars yet, please go read it now. There is also a corporate blog post that you may find interesting reading. My job here is to provide a FAQ about what's going on. Like any good FAQ, it will grow and expand as time goes on.

                          General

                          Q: Will Full Tilt be closed down permanently?
                          A: No. We plan to re-open Full Tilt in most markets within 90 days of closing (which will take place within seven days). At that time, player accounts will be fully available for use, play or withdrawal. We are not currently planning to seek a license to operate Full Tilt in France, Italy, Spain, Denmark, Belgium and Estonia. For Full Tilt players in these markets, we will work with regulators to determine the appropriate mechanisms for making funds available. In any case, these funds will be available as soon as possible.

                          Q: When will Full Tilt be re-opened?
                          A: We plan to re-open Full Tilt in most markets within 90 days of closing (which will take place within seven days).

                          Q:I play on PokerStars but not on Full Tilt. How does this affect me?
                          A: This will not impact players on PokerStars in any way. You can continue playing as before and your money is completely segregated and safe for play and/or withdrawing at any time you please.

                          Q: What countries will Full Tilt Poker reopen in?
                          A: Full Tilt Poker will reopen in most countries and we plan to apply for a global license with the Isle of Man and Malta gaming authorities. We are not currently planning to seek a license to operate Full Tilt in France, Italy, Spain, Denmark, Belgium and Estonia. Full Tilt players in these countries will be able to play on PokerStars.

                          Q: Does this settlement mean I can play real money online poker in the United States?
                          A: No. Under the terms of our agreement with the U.S. Department of Justice, we will not offer real money online poker in the U.S. until such time as there is regulation and licensing permitting this. The agreement does expressly allow for both PokerStars and Full Tilt Poker brands to apply for such licenses in the U.S. whenever they are offered.

                          My Account

                          Q: Can I transfer my FTP funds to an account on PokerStars?
                          A: We hope to have the functionality in place to allow inter-site transfers between Full Tilt Poker and PokerStars, so that you can enjoy playing again on either platform of your choosing. We will provide additional guidance on this in the coming weeks.

                          Q:I’m from Italy (also: France, Spain, Belgium, Estonia, Denmark). Can I use my funds on PokerStars, due to not having the option to play on Full Tilt Poker again?
                          A: We are currently working with the relevant authorities in your country and hope to put in place a solution that allows you to transfer your Full Tilt funds to a PokerStars account.

                          Cash-outs


                          Q: How do I cash out my funds? (US)
                          A: The process of reimbursing Full Tilt US players will be addressed by the US Government.

                          Q: When will I be able to cash out my funds? (France, Spain, Belgium, Italy, Estonia, Denmark)
                          A: We are currently working with the regulators in your country on the mechanisms required to withdraw your funds. We are committed to making these funds available within 90 days of the formal closing of the deal, which will be within seven days.

                          Q: Will I be able to cash out my entire balance? (ROW)
                          A: Yes. Full balances will be made available for immediate withdrawal once the site is reopened.

                          Q: What cash-out methods will there be? (ROW)
                          A: We will strive to ensure our complete payment offering is available at the time of launch. Where possible this will be consistent with the current offering at PokerStars.

                          Q: Are there going to be play-though requirements before I can cashout? (ROW)
                          A: No. You will have full access to your funds immediately and in most cases will be able to fully withdraw funds using the same methods previously available in your market.

                          Q: How long will my cash-out take to process? (ROW)
                          A: Processing times will differ depending on the method of cashout.

                          Q: What happens to my Full Tilt loyalty rewards?
                          A: We are reviewing all previous Full Tilt reward programs and will provide more details on plans for these programs in the near future. We intend to have a fair resolution for players with accumulated points and other rewards under the program.

                          Q: Can I use my FTP funds on PokerStars?
                          A: We are currently working on solutions for players to have inter-site transfers between FullTiltPoker.com and PokerStars.com.

                          Contact

                          Q: Who should I contact in the future to discuss my Full Tilt account?
                          A: You should contact [email protected] where one of Full Tilt's representatives will assist you with your account query.


                          That's it for now. I'll be back here 2-3 times per day to update you. As you can certainly understand, I'm not going to be shooting from the hip in this thread; please allow me time to collect questions and get approval for the answers. But you'll be seeing a lot of me here over the next few days.

                          Also, a brief personal observation: I know this has been a long and painful period for many of you. It's been that way for us too; a lot of people have worked extraordinarily hard to bring this to a successful conclusion. I'm prouder than ever to work for PokerStars.

                          Best regards,
                          Lee Jones

                          Comment

                          • #14
                            It's interesting that the statement says that Full Tilt and Pokerstars can apply for US licences to provide poker services when/if they become available. This is wrong IMO. Pokerstars and FTP were guilty of committing massive fraud ... whether you agree with it or not, the law is the law. In breaking the law and remaining in the US market long after the UIEGA was passed, they became the biggest poker brands on the planet. Other sites which immediately pulled out of the US market, and abided by the law (Party, 888 etc) declined, and are no very far behind in the market. Party Poker was the biggest poker sie in the world in the mid 00's. PS and FTP stormed past them when the stayed in the US market.

                            There is no way that PS or FTP should be able to re-enter the US market before the companies who didn't break the law. That is like rewarding criminality.

                            Comment

                            • #15
                              Non-US players will just be refunded. US players will have to apply to the DoJ for the return of their money ... full debate here:

                              463 Restricted Client - DOSarrest Internet Security
                              http://forumserver.twoplustwo.com/29/news-views-gossip/big-question-full-tilts-u-s-players-will-they-get-their-poker-winnings-back-1229299/

                              Comment

                              Previous template Next
                              Working...
                              X