Into his ninth decade, casino mogul has everything except poker's love
Sheldon Adelson turns 81 today, which makes him still just a kid according to my grandmother. We of course all know Adelson is a wealthy man, but I didn’t realize he was the richest person in Nevada (like by far). I mean sure, he woulda made my shortlist if you asked, but I didn’t really place his economic stature in context until seeing this bit of data porn showing who has the largest net worth by state.
So what do you get a man who has everything? OK, maybe Adelson doesn’t have everything, but he does have more personal wealth than the GDP of nearly 100 independent nations. He has so much money ($35.7 billion) that he could singlehandedly pay off ALL of Caesars’ debt and still have more than $12 billion left over — enough to still be the richest person in Nevada, as well as 34 other American states. Sooo … maybe just close your eyes and make a wish?
Ode to a champion
There are a few people who stand out in poker because they do things differently than most everyone else — in ways we all know we’d stand to benefit by emulating. Unfortunately, too often we don’t recognize that until these people are gone. Chad Brown will forever be attached to the Summer of 2014 for a bracelet he probably wished he didn’t have to win, and on Sunday is the farewell event open to players who want to remember poker is all about real life and real lives … and that’s what can make it so fun.
More at downtownchadbrown.org.
Even novice players know that a Royal Flush is the ultimate poker hand but even many experienced players might not realise just how rare getting the ten, jack, queen, king and ace of one suit actually is. Although movies like Casino Royale have made this most sought after hand seem within the realms of possibility the odds are truly stacked against you.
Of course, the chances of getting a Royal Flush no more difficult than getting any other 5 specific cards in a straight flush. A Royal Flush is 1 specific straight flush and there are 4 different ways in can occur, one for each suit. There are 2,598,960 different combinations in 5 card poker so there is a 4/2,598,960 or 1: 649,740 chance of getting a specific straight flush, including a Royal Flush using the formula (1/p) -1:1, with “p” being probability. The chances of drawing any straight flush, aside from a Royal Flush, are reduced to 1:72,192 since there are now 9 different hands which can be used to in 36 ways to make the hand.
Luis Suarez, the Liverpool and the Uruguayan national team striker that is participating in the World Cup in Brazil, has been was named last month in Barcelona as the new ambassador of 888poker, one of the world’s leading poker rooms.
Recently chosen as ‘Best Player’ of the English Premier League by the association of the press and the competition itself, Luis Suarez is also a serious candidate to the ‘Golden Boot’ for this 2013/14 season. The Uruguayan sum 31 goals, the same as Cristiano Ronaldo (31), and three more than Leo Messi (28), his closest pursuers.
Suárez has said during the presentation that due to commitments with preparing the World Cup selection, he may not take part in events such as the WSOP, but has announced that in the near future he will appear in tournaments, both live and online.
The Uruguayan striker joins the 888poker team which already includes other athletes , although many of them are better known in the UK than in any other country.
“Luis is going to do a lot of very special things with our customers. He will bring exclusive content with him and users will be able to play online against him. That’s fantastic,” explained 888poker staff members.
In poker terms, the Uruguayan discovered it’s a game he really likes. “I love playing poker. It needs a lot of concentration and competitiveness that is exciting. I Like it. And everybody likes. I believe that to play for this home will be great fun.”
On mai wai to Dubyooessopee
Ladies and gentlemen, please welcome to poker Mr. Dwight Hiward — someone with the clever foresight to have been named after what would become a plausibly convenient typo for a popular basketball player’s name. A couple clicks reveal @pokerati’s new follower is way into poker. And hey, if his actual tweets turn out to be some new style of poker metaphor, gotta say … a little rough, but I think I like where you’re going with that, kid!
Scratched up and worn out but still holding strong
Nightly pic from the trenches. Good to see Pokerati still in some way part of the WSOP.
As seen in the Rio casino poker room. Co-branding with Bravo, the player tracking system in just about every poker room and makers of the Bravo Poker Live App.
Auditor General reveals mistakes in lottery corporation's modernization plan
In April of this year, Ontario’s Auditor General, Bonnie Lysyk, released her report on the Ontario Lottery and Gaming Corporation’s Modernization Plan. The report was prepared and made public in response to motions passed by the legislature’s Standing Committee on Public Accounts.
The report is a sobering read for OLG, for the government, and for anyone interested in gaming in Ontario. The report suggests that OLG’s decision-making and plans were unrealistic, short-sighted, and subject to unstable leadership and oversight. The key question coming out of it isn’t, however, what went wrong. It’s where does OLG go from here?
People often teach beginners about Texas Hold’em by explaining the value of the various poker hands. They then move on to discuss the blinds, pre flop, flop, the turn, etc. It can all get quite confusing. BetClic have provided Pokerati with a comprehensive interactive infographic that breaks the game down into its various stages. Have a play with it below if you want to know more. Perhaps you have a friend you’ve been trying to get into Texas Hold’em? This could be a good way to teach them the rules and the phases involved.
The New York Senate considered legalizing online poker last year. They withdrew their proposal when they failed to gain support from lawmakers in the State Assembly. However, many senators are still committed to regulating online poker.
Sen. John Bonacic has recently introduced a bill that would allow gaming providers to offer certain types of poker games unlike the NJ online casino games offered by the garden state. Bonacic is the Chairman of the Senate Committee on Racing, Gaming and Wagering. He intends to use his position to advocate for more liberal online gambling laws.
The state’s gaming laws list poker as a game of skill, rather than a game of chance. Bonacic’s bill would reclassify online poker as a game of skill, which would make it legal to offer within state borders.
The senator is using precedent from a federal case in 2012 to support his claim. Federal District Court Judge Jack Weinstein ruled that online poker was a game of skill, which meant that it doesn’t violate gaming laws. Weinstein’s ruling was ultimately overturned by the Appeals Court, but the court didn’t dispute his opinion that poker was a game of skill. This precedent gives Bonacic a strong argument that may encourage members of the Assembly to support his law.
Bonacic said that his new bill would help the state generate millions in new taxes. Gaming providers would need to pay $10 million to receive an online gaming license. They would also need to pay a 15% tax on all gaming revenue.
The bill also has a number of safeguards to limit the social risks of online poker. It includes a bad actors clause that would prevent any site that violated the Unlawful Internet Gaming Enforcement Act from offering online poker in New York.
John Pappas, the head of the Poker Player’s Alliance, is encouraged by the new bill. However, he said that the Assembly hasn’t introduced a similar bill, which means that it may be difficult to pass it. Pappas said the gaming community shouldn’t be too optimistic until they see how other lawmakers respond to Bonacic’s proposals.
There’s a fair amount of research going on these days looking at that ever-fine line between gaming and gambling (Gainsbury, Russell, & Hing, 2014). This mini-documentary looks at the size and complexity of virtual gaming economies, and reveals how popular recreational online activities are vulnerable to cheaters and Chinese gold farmers (prisoners made to play video games for prison-guard profits) … which has some wanting regulatory oversight similar to gambling!
Who woulda guessed that online poker could provide a template for gamified digital consumer protections? (Really, it kinda-sorta is …)
I guess the real question is why not? If we are to move forward in modern technology than accepting the endless possibilities is eminent. Change isn’t always easy for many and sticking to the old fashion ways is to some safe. But sooner or later the rest of society comes around as it becomes more widely accepted and they are feeling a bit left out of the modern new age of advancement.
Bugsy Siegel Puts Las Vegas on the Casino Map
It’s envisioning what appears to be the impossible dream that turns ordinary men and women into legends, changing life as we know it forever. Bringing new ideas to the masses at first can be quite challenging as they are looked at like they have a third eye or two heads. But it takes perseverance to follow through and time to get the recognition that is finally deserved.
Imagine the ridicule Bugsy Siegel took with a brainstorm idea to build a luxurious Casino and hotel in the middle of the desert. Not only did the idea seem insane to build in the heat of the desert with no water supply available at that time, but a Casino? This was in the 1940’s folks and people at that time were not ready for any part of it, after all Casinos were not considered exactly a righteous upscale business.
What Facebook really knows about me, you, us (and our families)
Lest you weren’t sure about the relationship between lottery interests and slot machines in future regulated online gambling spaces, here’s a common ad getting served up to some of us on Facebook these days (for myVegas, an MGM joint). You do the math while I continue to get play-money slots game requests from Aunt Rita in Indiana.
While MGM has to wait (except in New Jersey) for real-money casino (or lottery) play, you can guess they are happy to be running various free point promotions where the prize is ultimately a trip to one of their real brick-and-mortar casinos, where the slot machines may or may not pay out the same way the they did for play money online.
We’re certain that you’re no stranger to Europe’s longest established poker tournament, The Irish Open.
Terry Rogers had become hooked on No Limit Holdem during a trip to Vegas, and upon Returning to Ireland, Terry established the Irish Open which became the catalyst in spreading this variation of the game throughout Ireland, and then across Europe.
Paddy Power Poker, proud sponsors of the Irish Open for almost 10 years, have put together this brief history of the tournament, which we are pleased to be able to share with you today.
New federal regime for cryptocurrencies comes into further focus
This past week, two sources of information became available indicating how the Canadian government will increase its regulation and oversight of virtual currencies, including bitcoin. Through a combination of legislative and regulatory changes, Parliament and the Financial Reports Analysis Centre of Canada—Canada’s financial intelligence unit—will wrap “dealers” in virtual currencies into the current money services business regime. Conceptually, this is somewhat similar to the approach taken to exchange functions by the Financial Crimes Enforcement Network in the United States. The federal government has clarified things somewhat but, at the same time, left us with many unanswered questions. We will have to wait for further regulatory guidance to see how the whole regime in Canada plays out, but I think things are looking very positive for FIU regulation of cryptocurrencies in Canada.
The Current Structure & Canada’s Economic Action Plan
FinTRAC is an independent agency that acts as Canada’s FIU to enforce the Financial Action Task Force’s 40 Recommendations. It does this primarily through the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the PCMLTFA) and Regulations (the Regulations). I have previously written about FinTRAC, its FATF-mandated role, and the PCMLTFA and the Regulations. As explained in the earlier post, FinTRAC has thus far taken the view that bitcoins are not “funds” within the meaning of the PCMLTFA and the Regulations. That means that FinTRAC will not regulate many bitcoin exchange functions under the MSB rules in Canada.