Ahead of early Spanish regulation in 2012, PokerStars has increased its presence with an acquisition of the Spanish iPoker skin Cara de Poker. According to the announcement on the CaraDePoker.com website posted yesterday, player accounts – including their funds and VIP points – are to being moved over the PokerStars platform.
“[Beginning next year] only license holders will be permitted to offer poker games and tournaments to Spanish players, significantly reducing the number of games available,” explains the official statement on the website, referring to the new regulatory system in Spain that will segregate the player pool and create a regulated dot.es market.
“Only the largest room in the world and in Spain will be able to offer the number of cash tables and tournaments needed to provide a superior experience,” continues the statement, titled “PokerStars, The Best Possible Choice.”
The Cara de Poker iPoker skin has closed, and customers who start the software are greeted with a message informing them that an account migration to PokerStars is in progress. It’s been reported that PokerStars is certainly well positioned to capitalize on a new Spanish regulated market, assuming regulation proceeds as planned and the poker room receives a license.
December 01, 2011
Forced into online black market gambling?
A review of the £1.7 billion British online gambling market is set to be reviewed in early December. It’s been reported that a secondary licensing fee on offshore gaming companies operating in British markets could be on the cards. The shakeup means that the government could close tax loopholes taken advantage of by offshore online gambling operators. Most of the top 20 operators in the UK market operate from offshore locations and do not pay taxes or horseracing levies in Britain. William Hill, in particular has voiced themselves on the issue.
It’s been reported that William Hill is the gambling group most likely to be affected by the secondary license fee. It has more than 10% market share and operates offshore. It commissioned professional business services provider Deloittes to carry out a review.
Deloittes concludes that secondary taxation at the point of consumption could lead to an exodus of the more reputable online gambling operators, forcing an estimated 40% of the players to shift to unauthorized and untaxed operators. This would result in the growth of a black market in online gambling. A spokesman for William Hill told The Independent newspaper, “The question for the Government is, should it introduce policy which distorts markets?”
The drastic proposal was aired by Tory MP Matthew Hancock and would involve taking tax from where a bet is placed as opposed to the physical location of the company. It means companies that decided to buy up a money-saving sun-haven need a UK Gambling Commission license. An Independent article quotes the Deloitte report as saying “a 15 per cent tax could mean two-fifths of legitimate firms leaving the UK market.” Hancock wants to determine where online gambling is taking place in an annual Finance Bill.
Changes are expected to come into force this time next year. The UK remains one of the world’s best licensing regimes and companies – private or public – will always be attracted to a country that has the centre of the iGaming universe, London, at its core.
It’s been reported that William Hill is the gambling group most likely to be affected by the secondary license fee. It has more than 10% market share and operates offshore. It commissioned professional business services provider Deloittes to carry out a review.
Deloittes concludes that secondary taxation at the point of consumption could lead to an exodus of the more reputable online gambling operators, forcing an estimated 40% of the players to shift to unauthorized and untaxed operators. This would result in the growth of a black market in online gambling. A spokesman for William Hill told The Independent newspaper, “The question for the Government is, should it introduce policy which distorts markets?”
The drastic proposal was aired by Tory MP Matthew Hancock and would involve taking tax from where a bet is placed as opposed to the physical location of the company. It means companies that decided to buy up a money-saving sun-haven need a UK Gambling Commission license. An Independent article quotes the Deloitte report as saying “a 15 per cent tax could mean two-fifths of legitimate firms leaving the UK market.” Hancock wants to determine where online gambling is taking place in an annual Finance Bill.
Changes are expected to come into force this time next year. The UK remains one of the world’s best licensing regimes and companies – private or public – will always be attracted to a country that has the centre of the iGaming universe, London, at its core.
November 24, 2011
Playtech’s £100m plan
Online gaming software company Playtech is aiming to raise £100m by issuing 46.5 million shares at a 2.5% discount on yesterday’s closing price in London. The world’s biggest provider of online gambling software said it would raise the money in the discounted offering to finance acquisition opportunities and investments in new joint ventures.
The placement of about 46.5 million shares would be priced at 215 pence each, representing a 2.5 percent discount to the stock’s closing market price on Tuesday, Playtech said.
Billionaire Israeli founder Teddy Sagi holds a massive 40% stake and said it had identified a number of acquisition opportunities in regards to expanding its existing technology and product offerings.
The Estonia-based company operates a joint venture with Britain’s biggest bookmaker William Hill and provides software to Paddy Power, PartyGaming and Gala Coral.
The placement of about 46.5 million shares would be priced at 215 pence each, representing a 2.5 percent discount to the stock’s closing market price on Tuesday, Playtech said.
Billionaire Israeli founder Teddy Sagi holds a massive 40% stake and said it had identified a number of acquisition opportunities in regards to expanding its existing technology and product offerings.
The Estonia-based company operates a joint venture with Britain’s biggest bookmaker William Hill and provides software to Paddy Power, PartyGaming and Gala Coral.
November 22, 2011
Scots punter wins £132k on £1 bet after correctly predicting 18 football results.. but he needed last minute Arbroath penalty to clinch it
A punter has scooped £132,000 from a "miracle" £1 bet on football results.
The Scots gambler correctly predicted the winners of 18 matches in Scotland and England.
But his accumulator was only sealed by a 94th-minute penalty from Arbroath's Paul Sheerin.
It gave his side a 1-0 victory over Keith and completed the punter's dream line, which included another three Scottish matches and English teams such as West Ham, Leeds, Cardiff and Charlton.
The winner, who wants to remain anonymous, struck his bet at a Coral shop on Paisley Road West in Glasgow on Saturday.
And his payout capped a "devastating" weekend for bookies, who lost around £20million as a host of footie favourites won.
Last night, Coral spokesman David Stevens said: "In 10 years of working ... this is the most extraordinary tipping performance I have seen.
"It's hard enough finding one winner but to get 18 in one day is nothing short of miraculous. We're delighted that this customer has hit the jackpot in time for Christmas.
"It just goes to show you don't have to stake big money to win big money."
Stevens added: "We are still counting the cost of the weekend but we think the results have cost bookmakers about £20million.
"We also had a £48,000 winner south of the Border and lots of smaller wins of a few thousand.
"But the £132,000 winner was the biggest by far.
"And the difference between his win and the rest was that he didn't back top-flight teams - the big guns who people usually back first. That's what makes it so special."
The payout is a latest big-money win for Scots punters. In May, a Glasgow gambler scooped £353,000 on a £1 seven-horse accumulator.
And in August, Dumfries grandad Stuart Smith, 58, became Scotland's first betting shop millionaire, landing the jackpot on the 49's lottery game.
The Scots gambler correctly predicted the winners of 18 matches in Scotland and England.
But his accumulator was only sealed by a 94th-minute penalty from Arbroath's Paul Sheerin.
It gave his side a 1-0 victory over Keith and completed the punter's dream line, which included another three Scottish matches and English teams such as West Ham, Leeds, Cardiff and Charlton.
The winner, who wants to remain anonymous, struck his bet at a Coral shop on Paisley Road West in Glasgow on Saturday.
And his payout capped a "devastating" weekend for bookies, who lost around £20million as a host of footie favourites won.
Last night, Coral spokesman David Stevens said: "In 10 years of working ... this is the most extraordinary tipping performance I have seen.
"It's hard enough finding one winner but to get 18 in one day is nothing short of miraculous. We're delighted that this customer has hit the jackpot in time for Christmas.
"It just goes to show you don't have to stake big money to win big money."
Stevens added: "We are still counting the cost of the weekend but we think the results have cost bookmakers about £20million.
"We also had a £48,000 winner south of the Border and lots of smaller wins of a few thousand.
"But the £132,000 winner was the biggest by far.
"And the difference between his win and the rest was that he didn't back top-flight teams - the big guns who people usually back first. That's what makes it so special."
The payout is a latest big-money win for Scots punters. In May, a Glasgow gambler scooped £353,000 on a £1 seven-horse accumulator.
And in August, Dumfries grandad Stuart Smith, 58, became Scotland's first betting shop millionaire, landing the jackpot on the 49's lottery game.
November 18, 2011
Bernard Tapie Signs Deal with DOJ to Acquire Full Tilt Poker
Players holding out hope that their money on Full Tilt Poker would be returned to them sooner rather than later got some great news on Thursday. CNNMoney.com first broke the story that Groupe Bernard Tapie had signed a deal to purchase the assets of Full Tilt Poker for $80 million US.
As part of the deal Full Tilt Poker agreed to surrender its assets to the Department of Justice. The DOJ was then able to sell those assets to GBT. American players will be paid back by the Department of Justice while GBT assumes all debts for players outside the United States. Estimates put the the amount owed at $390 million with $150 million being owed to U.S. players.
The deal still needs approval of 2/3 of Full Tilt Poker shareholders.
The deal between GBT and the DOJ is expected to be officially announced by Preet Bharara, the United States attorney for the Southern District of New York, on Friday. The story which ran on CNNMoney and Yahoo! Finance was done so ahead of an embargo which should have seen the story made public Friday morning at 6:45 ET.
According to CNN Money, “the government plans to dismiss the civil forfeiture proceedings. This will have no impact on individual proceedings, but it removes a potential liability for shareholders, as it removes all pending proceeding against Full Tilt”. In August, Howard Lederer, Chris Ferguson and Rafe Furst were added to the forfeiture and civil money laundering complaint brought by Bharara’s office that originally only named Ray Bitar. All four are members of the board of directors for Full Tilt Poker.
As part of the deal Full Tilt Poker agreed to surrender its assets to the Department of Justice. The DOJ was then able to sell those assets to GBT. American players will be paid back by the Department of Justice while GBT assumes all debts for players outside the United States. Estimates put the the amount owed at $390 million with $150 million being owed to U.S. players.
The deal still needs approval of 2/3 of Full Tilt Poker shareholders.
The deal between GBT and the DOJ is expected to be officially announced by Preet Bharara, the United States attorney for the Southern District of New York, on Friday. The story which ran on CNNMoney and Yahoo! Finance was done so ahead of an embargo which should have seen the story made public Friday morning at 6:45 ET.
According to CNN Money, “the government plans to dismiss the civil forfeiture proceedings. This will have no impact on individual proceedings, but it removes a potential liability for shareholders, as it removes all pending proceeding against Full Tilt”. In August, Howard Lederer, Chris Ferguson and Rafe Furst were added to the forfeiture and civil money laundering complaint brought by Bharara’s office that originally only named Ray Bitar. All four are members of the board of directors for Full Tilt Poker.
November 17, 2011
Full Tilt Poker News: Settlement Stalled?
Full Tilt Poker players who were allegedly defrauded of their online poker deposits are reportedly becoming anxious as they await news on a deal between Full Tilt Poker's parent company, a French investor, and the U.S. Department of Justice that is expected to result in actions intended to refund the players of over $300 million.
The delay is reportedly unrelated to recent court papers filed by Full Tilt Poker executive Christopher "Jesus" Ferguson laying claim to hundreds of millions in funds seized by the U.S. government in legal action against the online poker operation.
In early November, GBT CEO Laurent Tapie told the French poker magazine iGamingFrance that an acquisition agreement was expected to be finalized, and repayment plans confirmed, within two weeks.
The laywer for Group Bernard Tapie, the intended buyer, said he remains "optimistic" the concerned parties would soon finalize an agreement though the two week mark is fast approaching.
"We are waiting to hear back from the DoJ and still hoping to finalize an agreement," GBT attorney Behnam Dayanim told Poker News Report. "It takes time. We have an oral understanding with the DoJ that we're trying to reduce to writing."
As IBTimes previously reported, Full Tilt Poker was accused of running a "global Ponzi scheme" and was the recipient of both Federal and civil complaints alleging the online gaming company violated regulations and mishandled player funds.
"Full Tilt was not a legitimate poker company, but a global Ponzi scheme," Preet Bharara, U.S. Attorney for the Southern District of New York, said in a motion to amend a previous federal complaint again Full Tilt Poker to include "misuse of players' funds" to the charges.
In the statement, Mr. Bharara claims Full Tilt Poker "cheated and abused its own players to the tune of hundreds of millions of dollars" and that "insiders lined their own pockets with funds picked from the pockets of their most loyal customers while blithely lying to both players and the public alike about the safety and security of the money deposited with the company."
The complaint accused Full Tilt executives -- which include Ferguson and another famous poker player, Howard Lederer and -- of pocketing $440 million dollars in player deposits that were supposed to be in secure accounts. Previously, poker player Phil Ivey sued the company, claiming "Full Tilt Poker failed to maintain a reserve account sufficient to satisfy the return of funds to U.S. players."
In a statement on its Web site, Full Tilt Poker blamed "government enforcement activities and significant theft" for its cash-flow problems. The statement insists that Full Tilt Poker "has been actively exploring opportunities with outside investors in order to stabilize the company and pay back our players." It says that company is "fully committed to paying them back in full and restoring confidence in our operations."
According to a September article in Forbes magazine, Lederer claimed the company only had $6 million in funds remaining -- nowhere near enough to refund players whose accounts had been frozen.
But in early October --shortly after the Alderley Gaming Control commission revoked Full Tilt Poker's operating license -- Group Bernard Tapie announced plans to acquire Full Tilt Poker. The purchase was subject to multiple conditions, including an agreement with the U.S. Department of Justice to reimburse players whose accounts had been frozen. According to Poker News Report, Group Bernard Tapie was "hoping" the Dept. of Justice would refund the players from the over $300 million in seized assets, and allow GBT an extended period to pay off Full Tilt Poker's fines.
According to a Nov. 4 Wall Street Journal report, a source "close to the situation" said "Group Bernard Tapie would pay an amount of money to the Justice Department to resolve the civil dispute with the Justice Department" and refund the overseas players, per the agreement, which would require U.S. players to file claims with the Dept. of Justice to facilitate a refund. There was no indication on the exact sum GBT would pay the Dept. of Justice in regards to U.S. players' claims.
Behnam Dayanim, an attorney for GBT, explained to Poker News Report why the U.S. and overseas player pools were being handled separately.
"There are two big differences between U.S. and Rest-of-World players," Dayanim said. "One difference is that the DoJ views the activity of Full Tilt in offering wagers to U.S. players as being unlawful. It doesn't take that view with ROW [overseas] players."
IBTimes found a press release claiming the Full Tilt Poker investment deal had collapsed, but cannot verify its legitimacy. It appears to have been generated by a possible competitor of Full Tilt Poker.
The delay is reportedly unrelated to recent court papers filed by Full Tilt Poker executive Christopher "Jesus" Ferguson laying claim to hundreds of millions in funds seized by the U.S. government in legal action against the online poker operation.
In early November, GBT CEO Laurent Tapie told the French poker magazine iGamingFrance that an acquisition agreement was expected to be finalized, and repayment plans confirmed, within two weeks.
The laywer for Group Bernard Tapie, the intended buyer, said he remains "optimistic" the concerned parties would soon finalize an agreement though the two week mark is fast approaching.
"We are waiting to hear back from the DoJ and still hoping to finalize an agreement," GBT attorney Behnam Dayanim told Poker News Report. "It takes time. We have an oral understanding with the DoJ that we're trying to reduce to writing."
As IBTimes previously reported, Full Tilt Poker was accused of running a "global Ponzi scheme" and was the recipient of both Federal and civil complaints alleging the online gaming company violated regulations and mishandled player funds.
"Full Tilt was not a legitimate poker company, but a global Ponzi scheme," Preet Bharara, U.S. Attorney for the Southern District of New York, said in a motion to amend a previous federal complaint again Full Tilt Poker to include "misuse of players' funds" to the charges.
In the statement, Mr. Bharara claims Full Tilt Poker "cheated and abused its own players to the tune of hundreds of millions of dollars" and that "insiders lined their own pockets with funds picked from the pockets of their most loyal customers while blithely lying to both players and the public alike about the safety and security of the money deposited with the company."
The complaint accused Full Tilt executives -- which include Ferguson and another famous poker player, Howard Lederer and -- of pocketing $440 million dollars in player deposits that were supposed to be in secure accounts. Previously, poker player Phil Ivey sued the company, claiming "Full Tilt Poker failed to maintain a reserve account sufficient to satisfy the return of funds to U.S. players."
In a statement on its Web site, Full Tilt Poker blamed "government enforcement activities and significant theft" for its cash-flow problems. The statement insists that Full Tilt Poker "has been actively exploring opportunities with outside investors in order to stabilize the company and pay back our players." It says that company is "fully committed to paying them back in full and restoring confidence in our operations."
According to a September article in Forbes magazine, Lederer claimed the company only had $6 million in funds remaining -- nowhere near enough to refund players whose accounts had been frozen.
But in early October --shortly after the Alderley Gaming Control commission revoked Full Tilt Poker's operating license -- Group Bernard Tapie announced plans to acquire Full Tilt Poker. The purchase was subject to multiple conditions, including an agreement with the U.S. Department of Justice to reimburse players whose accounts had been frozen. According to Poker News Report, Group Bernard Tapie was "hoping" the Dept. of Justice would refund the players from the over $300 million in seized assets, and allow GBT an extended period to pay off Full Tilt Poker's fines.
According to a Nov. 4 Wall Street Journal report, a source "close to the situation" said "Group Bernard Tapie would pay an amount of money to the Justice Department to resolve the civil dispute with the Justice Department" and refund the overseas players, per the agreement, which would require U.S. players to file claims with the Dept. of Justice to facilitate a refund. There was no indication on the exact sum GBT would pay the Dept. of Justice in regards to U.S. players' claims.
Behnam Dayanim, an attorney for GBT, explained to Poker News Report why the U.S. and overseas player pools were being handled separately.
"There are two big differences between U.S. and Rest-of-World players," Dayanim said. "One difference is that the DoJ views the activity of Full Tilt in offering wagers to U.S. players as being unlawful. It doesn't take that view with ROW [overseas] players."
IBTimes found a press release claiming the Full Tilt Poker investment deal had collapsed, but cannot verify its legitimacy. It appears to have been generated by a possible competitor of Full Tilt Poker.
November 16, 2011
Unibet set to re-enter France with Solfive acquisition
Unibet Group plc has entered into an agreement to acquire France’s Solfive SAS, operator of the Eurosportbet and Eurosportpoker brands in the French market.
Under the terms of the agreement, Unibet will acquire Solfive, owner of SPS Betting France SAS, for an initial consideration of €5.625m plus net cash adjustment of €1.5m, payable upon closing. The acquisition also includes an earn-out component based on performance during the first six months of trading post-acquisition, together with an agreement to provide funds to settle a €2.375m fixed debt.
Solfive acquired SPS Betting in April of this year from French media group TF1 for an undisclosed amount after the company incurred a loss of €26.0m in the 2010 financial year as a result of diffucult market conditions in France.
Once one of its strongest markets, Unibet quit France during the second quarter of 2010 citing the country’s unfavourable licensing conditions.
The company says it will now leverage the legacy strength of the Unibet brand in France and its historic customer base to increase revenues, but maintains that market conditions – which remain poor - will result in the acquisition having an insignificant impact on profitability in 2012.
“This strategic acquisition gives Unibet immediate access to the French market with a technical platform that is already licensed offering sports betting, poker and horse racing,” said Unibet CEO Henrik Tjärnström.
“We will rebrand the business quickly to Unibet.fr. The combination of Unibet’s strong brand, the efforts already made to build a significant market share for EurosportBet, and the difficult decisions taken by management to control costs give the best opportunity to be successful in a very difficult market.”
The acquisition remains subject to regulatory approval from ARJEL, which is expected to be received by the end of the year.
Commenting on the acquisition, Solfive Group CEO Olivier Ou Ramdane said: “The extremely challenging terms and conditions for the French market make it very difficult for an independent operator to develop their business. We are delighted therefore to have this opportunity to work with Unibet, who have the experience, resources and brand legacy in France to succeed in this market in the long term. We are proud of the achievements of the Eurosportbet team in establishing a strong market share and believe that this transaction provides the best platform for the long term success of the business and therefore the best opportunities for the excellent team that we have built.”
Under the terms of the agreement, Unibet will acquire Solfive, owner of SPS Betting France SAS, for an initial consideration of €5.625m plus net cash adjustment of €1.5m, payable upon closing. The acquisition also includes an earn-out component based on performance during the first six months of trading post-acquisition, together with an agreement to provide funds to settle a €2.375m fixed debt.
Solfive acquired SPS Betting in April of this year from French media group TF1 for an undisclosed amount after the company incurred a loss of €26.0m in the 2010 financial year as a result of diffucult market conditions in France.
Once one of its strongest markets, Unibet quit France during the second quarter of 2010 citing the country’s unfavourable licensing conditions.
The company says it will now leverage the legacy strength of the Unibet brand in France and its historic customer base to increase revenues, but maintains that market conditions – which remain poor - will result in the acquisition having an insignificant impact on profitability in 2012.
“This strategic acquisition gives Unibet immediate access to the French market with a technical platform that is already licensed offering sports betting, poker and horse racing,” said Unibet CEO Henrik Tjärnström.
“We will rebrand the business quickly to Unibet.fr. The combination of Unibet’s strong brand, the efforts already made to build a significant market share for EurosportBet, and the difficult decisions taken by management to control costs give the best opportunity to be successful in a very difficult market.”
The acquisition remains subject to regulatory approval from ARJEL, which is expected to be received by the end of the year.
Commenting on the acquisition, Solfive Group CEO Olivier Ou Ramdane said: “The extremely challenging terms and conditions for the French market make it very difficult for an independent operator to develop their business. We are delighted therefore to have this opportunity to work with Unibet, who have the experience, resources and brand legacy in France to succeed in this market in the long term. We are proud of the achievements of the Eurosportbet team in establishing a strong market share and believe that this transaction provides the best platform for the long term success of the business and therefore the best opportunities for the excellent team that we have built.”
November 10, 2011
Germany's Heinz wins World Series of Poker
Now that the 22-year-old German has won the $8.72 million prize at the World Series of Poker, he can steer his life in pretty much whatever direction he wants.
"Honestly I'm not sure what I'm going to do with the money," Heinz said early Wednesday after winning the main event in a marathon session of Texas Hold 'em. "Probably my family is going to get a couple gifts."
Heinz won with an ace high, just nine hands after using the same hand to boost himself from a nearly insurmountable disadvantage against 35-year-old Martin Staszko.
Heinz, of Cologne, Germany, called an all-in bet from Staszko with an ace and a king. Staszko held a seven-10 of clubs.
The board was a five of clubs, deuce of diamonds, nine of spades, jack of hearts and four of diamonds, helping neither player but cementing Heinz's win in the $10,000 buy-in tournament that started in July.
Staskzo won $5.43 million for second place, a nice consolation prize, but it comes without a bracelet — the prize given to WSOP event winners and coveted by all serious card players.
"Have you ever worn it?" Heinz asked 2010 title winner Jonathan Duhamel as Duhamel handed him the bracelet.
"It's got to be the happiest day of my life," Heinz said. "But I can't believe what happened — it's unreal."
Staszko, a chess whiz who once worked for three years at an auto paint shop, said he thought his finish would help poker in his native country.
"I'm never happy if I don't win," Staszko said. "But it's not too bad. Second place is OK."
Staszko, who mainly plays online, said he'll be back to Sin City and the series.
"I'll come back next year," he said. "I hope I can win a bracelet."
Asked before the final table began whether they'd accept second place money right then and forgo a shot at the title, Heinz said yes; Staszko said no.
Now, Heinz is happy they played the game.
Once it was down to the two players, they exchanged the lead nine times over 119 hands. At one point, Staszko had a nearly 4-1 chip edge on Heinz.
But Heinz, who started the day with just over half the chips in play, convinced Staszko to gamble with less-than-ideal hands in an attempt to put the no-limit Texas Hold 'em tournament away.
"I tried not to lose my nerve," Heinz said. "At some point I was not making a hand. I was getting frustrated, honestly. I just tried to play my game."
Las Vegas poker professional Ben Lamb was eliminated early Tuesday night in four hands. He pushed all-in on the first hand of play with a king-jack, hoping to induce Staszko to fold pocket sevens.
But Staszko called and kept his marginal advantage as the five community cards were dealt.
"I got the sense he wasn't like super strong, but he actually was stronger than I thought he was," Lamb said.
That left Lamb very short on chips, and he pushed all-in again three hands later with a queen-six. This time, Staszko had pocket jacks and eliminated Lamb.
"Every poker player dreams of having the year I had, so I don't want to sit here and have people like cry for me," he said. "I'll be OK."
The 26-year-old Lamb won $4 million for finishing in third place.
Each player must lose all his chips to be eliminated from the $10,000 buy-in tournament, and win all the chips in play to take the crown.
Heinz, who said he had a rough six-month run in poker before the series and was thinking about whether to go back to college, aggressively stormed from seventh in chips to first at the nine-hand final table on Sunday.
He went from 16.4 million in chips to 107.8 million in just more than 7½ hours of play, propelling to a higher finish than at least six of his competitors.
Lamb, an experienced professional who made his mark at the 58-tournament series this year by winning Player of the Year honors, had a large contingent of rowdy supporters and a smaller group of friends and poker experts feeding him information about his play and his opponents.
For the first time, every hand at the final table was playing out nearly live on ESPN, including tense stretches of several minutes during which players mulled difficult decisions.
The play was aired on a 15-minute delay with hole cards revealed once hands ended — enough time to ensure gambling regulators that players couldn't cheat.
The game was played in front of a crowd of hundreds at the Rio All-Suite Hotel & Casino near the Las Vegas Strip, in the same theater where magicians Penn & Teller regularly perform.
"It was just awesome to have so many of your friends and family following you, cheering you," Heinz said.
"Honestly I'm not sure what I'm going to do with the money," Heinz said early Wednesday after winning the main event in a marathon session of Texas Hold 'em. "Probably my family is going to get a couple gifts."
Heinz won with an ace high, just nine hands after using the same hand to boost himself from a nearly insurmountable disadvantage against 35-year-old Martin Staszko.
Heinz, of Cologne, Germany, called an all-in bet from Staszko with an ace and a king. Staszko held a seven-10 of clubs.
The board was a five of clubs, deuce of diamonds, nine of spades, jack of hearts and four of diamonds, helping neither player but cementing Heinz's win in the $10,000 buy-in tournament that started in July.
Staskzo won $5.43 million for second place, a nice consolation prize, but it comes without a bracelet — the prize given to WSOP event winners and coveted by all serious card players.
"Have you ever worn it?" Heinz asked 2010 title winner Jonathan Duhamel as Duhamel handed him the bracelet.
"It's got to be the happiest day of my life," Heinz said. "But I can't believe what happened — it's unreal."
Staszko, a chess whiz who once worked for three years at an auto paint shop, said he thought his finish would help poker in his native country.
"I'm never happy if I don't win," Staszko said. "But it's not too bad. Second place is OK."
Staszko, who mainly plays online, said he'll be back to Sin City and the series.
"I'll come back next year," he said. "I hope I can win a bracelet."
Asked before the final table began whether they'd accept second place money right then and forgo a shot at the title, Heinz said yes; Staszko said no.
Now, Heinz is happy they played the game.
Once it was down to the two players, they exchanged the lead nine times over 119 hands. At one point, Staszko had a nearly 4-1 chip edge on Heinz.
But Heinz, who started the day with just over half the chips in play, convinced Staszko to gamble with less-than-ideal hands in an attempt to put the no-limit Texas Hold 'em tournament away.
"I tried not to lose my nerve," Heinz said. "At some point I was not making a hand. I was getting frustrated, honestly. I just tried to play my game."
Las Vegas poker professional Ben Lamb was eliminated early Tuesday night in four hands. He pushed all-in on the first hand of play with a king-jack, hoping to induce Staszko to fold pocket sevens.
But Staszko called and kept his marginal advantage as the five community cards were dealt.
"I got the sense he wasn't like super strong, but he actually was stronger than I thought he was," Lamb said.
That left Lamb very short on chips, and he pushed all-in again three hands later with a queen-six. This time, Staszko had pocket jacks and eliminated Lamb.
"Every poker player dreams of having the year I had, so I don't want to sit here and have people like cry for me," he said. "I'll be OK."
The 26-year-old Lamb won $4 million for finishing in third place.
Each player must lose all his chips to be eliminated from the $10,000 buy-in tournament, and win all the chips in play to take the crown.
Heinz, who said he had a rough six-month run in poker before the series and was thinking about whether to go back to college, aggressively stormed from seventh in chips to first at the nine-hand final table on Sunday.
He went from 16.4 million in chips to 107.8 million in just more than 7½ hours of play, propelling to a higher finish than at least six of his competitors.
Lamb, an experienced professional who made his mark at the 58-tournament series this year by winning Player of the Year honors, had a large contingent of rowdy supporters and a smaller group of friends and poker experts feeding him information about his play and his opponents.
For the first time, every hand at the final table was playing out nearly live on ESPN, including tense stretches of several minutes during which players mulled difficult decisions.
The play was aired on a 15-minute delay with hole cards revealed once hands ended — enough time to ensure gambling regulators that players couldn't cheat.
The game was played in front of a crowd of hundreds at the Rio All-Suite Hotel & Casino near the Las Vegas Strip, in the same theater where magicians Penn & Teller regularly perform.
"It was just awesome to have so many of your friends and family following you, cheering you," Heinz said.
November 09, 2011
Interwetten signs Czech ice hockey club sponsorship deal
Following its recent sponsorship of La Liga side Sevilla FC, Interwetten has confirmed that it will also become the official sponsor of Czech Republic ice hockey club HC Sparta Prague.
Interwetten said that the sponsorship deal will help to increase the company’s presence in the Czech sports betting market, where it has been in operation since the start of the year.
HC Sparta Prague was founded in 1893 as AC Královské Vinohrady and is one of the most successful clubs in Czech ice hockey history. Currently playing in the Czech Extraliga, the team plays its home games in Tesla Arena, which is the second largest hockey stadium in the Czech Republic with a capacity of nearly 14,000 spectators.
Under the agreement, the company will have a brand presence at the Tesla Arena stadium in the form of advertising hoardings, as well as advertisements on videos around the stadium and a banner on the club’s official website.
In addition, Interwetten customers will now be able to exchange Club Points in the Interwetten Club for VIP tickets for every home tie and other gifts goodies from HC Sparta Prague.
“HC Sparta Prague is delighted to welcome Interwetten.com as one of the best-known European sports betting providers and a further international partner,” said Antonin Charouz, owner HC Sparta Prague. “And this new partnership seems to have given our players a boost: since the first commercial appearance of Interwetten at the Tesla Arena, the club has been going from strength to strength on the ice and is now first in the table.”
Interwetten managing director Birgit Bosch said of the two new sponsorship deals: “We are incredibly proud to have the opportunity to work with two top international teams in Sevilla FC and HC Sparta Prag. These partnerships underline Interwetten’s position of ranking among the best of the best and offering our customers the very best entertainment – something we have in common with our new partners.
“Football, the number 1 in betting sports, has been a fixed component of our sponsoring activities from day one. Ice hockey is among the most popular sports in the Czech Republic, meaning that our sponsorship of HC Sparta Prag will represent a valuable addition to our sponsoring portfolio.”
Interwetten said that the sponsorship deal will help to increase the company’s presence in the Czech sports betting market, where it has been in operation since the start of the year.
HC Sparta Prague was founded in 1893 as AC Královské Vinohrady and is one of the most successful clubs in Czech ice hockey history. Currently playing in the Czech Extraliga, the team plays its home games in Tesla Arena, which is the second largest hockey stadium in the Czech Republic with a capacity of nearly 14,000 spectators.
Under the agreement, the company will have a brand presence at the Tesla Arena stadium in the form of advertising hoardings, as well as advertisements on videos around the stadium and a banner on the club’s official website.
In addition, Interwetten customers will now be able to exchange Club Points in the Interwetten Club for VIP tickets for every home tie and other gifts goodies from HC Sparta Prague.
“HC Sparta Prague is delighted to welcome Interwetten.com as one of the best-known European sports betting providers and a further international partner,” said Antonin Charouz, owner HC Sparta Prague. “And this new partnership seems to have given our players a boost: since the first commercial appearance of Interwetten at the Tesla Arena, the club has been going from strength to strength on the ice and is now first in the table.”
Interwetten managing director Birgit Bosch said of the two new sponsorship deals: “We are incredibly proud to have the opportunity to work with two top international teams in Sevilla FC and HC Sparta Prag. These partnerships underline Interwetten’s position of ranking among the best of the best and offering our customers the very best entertainment – something we have in common with our new partners.
“Football, the number 1 in betting sports, has been a fixed component of our sponsoring activities from day one. Ice hockey is among the most popular sports in the Czech Republic, meaning that our sponsorship of HC Sparta Prag will represent a valuable addition to our sponsoring portfolio.”
November 08, 2011
Aussie online betting operators call on Govt to lift laws
Australian online betting companies have called for the relaxation of online gambling laws, claiming the regulations restrict them from competing with offshore companies.
In its submission to the Federal Government’s review of the Interactive Gambling Act 2001 (IGA), online betting company Sportsbet claimed the regulations should be amended to allow Australian-based websites to offer “in-the-run” betting, which refers to the placing of bets once an even has commenced.
“Betting after an event has commenced is available over the phone and in retail outlets in Australia,” the submission reads.
“With Australian-based websites prohibited from offering betting in the run in online, Australians are choosing to place bets in the run online through unregulated overseas websites.”
The company claims the issue is separate from that of the broader online gaming debate, and that it is simply an issue of platform neutrality as this form of betting already exists over the phone and in TAB retail outlets.
“Sportsbet urges government to address this issue as a matter of urgency and allow betting in the run online with Australian registered wagering operators.
“This would achieve the stated goal of platform neutrality, remove a major disadvantage to licensed Australian online wagering operators and allow Australian consumers to bet in the run safely.”
Fellow online wagering firm, Betfair, has joined Sportsbet in the push for the removal of the restrictions around online in-play betting online as well as online interactive games.
“This approach would ensure that the issues surrounding problem gambling and integrity in sporting contests can be managed more effectively from within Australia,” Betfair’s submission reads. “Further, Australian consumers of these services would be afforded enhanced consumer protection, tax revenues would remain in Australia and can be used to fund problem gambling programs and research projects and Australian operators will be able to compete with offshore gambling operators on an even playing field.”
“One key reason that the IGA is presently ineffective is that it failed to regulate services, and instead focused on the methods by which those services are delivered (e.g. telephone, internet) and therefore became antiquated on a rapid basis.”
According to Sportsbet the prohibition of Australian-based websites offering online gaming is ineffective in reducing problem gambling as Australian continue to spend in the order of $1 billion annually on online gaming through unregulated offshore sites.
Also weighing in on the topic with its submission was Tabcorp, which was in agreement with its competitors and stated online gambling must be deregulated so Australian are not forced to bet with offshore operators.
“This will also enable domestic operators to compete on a level playing field where player protection standards can be assured.”
Tabcorp also claimed a national code of conduct for wagering and sports betting should be established to cover elements of the industry including marketing, credit betting, the offering of financial inducements to open an account and to convey messages of responsible gambling, self-exclusion and compliance with the code.
The call comes at a time when the focus on problem gambling has been fixed on implementing controls on poker machines to eliminate problem gambling.
The Federal Government has continued the upward battle to implement its mandatory pre-commitment scheme with all states, except Tasmania, complaining that it should remain optional.
The scheme would require patrons to nominate their maximum losses before they started playing the pokies.
In its submission to the Federal Government’s review of the Interactive Gambling Act 2001 (IGA), online betting company Sportsbet claimed the regulations should be amended to allow Australian-based websites to offer “in-the-run” betting, which refers to the placing of bets once an even has commenced.
“Betting after an event has commenced is available over the phone and in retail outlets in Australia,” the submission reads.
“With Australian-based websites prohibited from offering betting in the run in online, Australians are choosing to place bets in the run online through unregulated overseas websites.”
The company claims the issue is separate from that of the broader online gaming debate, and that it is simply an issue of platform neutrality as this form of betting already exists over the phone and in TAB retail outlets.
“Sportsbet urges government to address this issue as a matter of urgency and allow betting in the run online with Australian registered wagering operators.
“This would achieve the stated goal of platform neutrality, remove a major disadvantage to licensed Australian online wagering operators and allow Australian consumers to bet in the run safely.”
Fellow online wagering firm, Betfair, has joined Sportsbet in the push for the removal of the restrictions around online in-play betting online as well as online interactive games.
“This approach would ensure that the issues surrounding problem gambling and integrity in sporting contests can be managed more effectively from within Australia,” Betfair’s submission reads. “Further, Australian consumers of these services would be afforded enhanced consumer protection, tax revenues would remain in Australia and can be used to fund problem gambling programs and research projects and Australian operators will be able to compete with offshore gambling operators on an even playing field.”
“One key reason that the IGA is presently ineffective is that it failed to regulate services, and instead focused on the methods by which those services are delivered (e.g. telephone, internet) and therefore became antiquated on a rapid basis.”
According to Sportsbet the prohibition of Australian-based websites offering online gaming is ineffective in reducing problem gambling as Australian continue to spend in the order of $1 billion annually on online gaming through unregulated offshore sites.
Also weighing in on the topic with its submission was Tabcorp, which was in agreement with its competitors and stated online gambling must be deregulated so Australian are not forced to bet with offshore operators.
“This will also enable domestic operators to compete on a level playing field where player protection standards can be assured.”
Tabcorp also claimed a national code of conduct for wagering and sports betting should be established to cover elements of the industry including marketing, credit betting, the offering of financial inducements to open an account and to convey messages of responsible gambling, self-exclusion and compliance with the code.
The call comes at a time when the focus on problem gambling has been fixed on implementing controls on poker machines to eliminate problem gambling.
The Federal Government has continued the upward battle to implement its mandatory pre-commitment scheme with all states, except Tasmania, complaining that it should remain optional.
The scheme would require patrons to nominate their maximum losses before they started playing the pokies.
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