Gambling News
Follow Up Hearing On Internet Poker Scheduled
The US Government is inching closer to legalizing Internet poker as a follow up hearing has just been scheduled for November 18. Once again, the House Subcommittee on Commerce, Manufacturing and Trade will oversee the hearing. A list of speakers is yet to be finalized.
Last month’s hearing focused mostly on the pros of online poker with concerns expressed over Indian gaming sovereignty, under aged gambling and collusion in card rooms, specifically how to prevent so-called “bots”.
Betfair Poaches Paddy Power Second-in-Command
The world’s largest betting exchange announced Thursday it has hired away Breon Corcoran from rival Paddy Power to become its new CEO. Corcoran replaces David Yu.
The Financial Times of London reported that Corcoran’s Paddy Power contract was understood to have had a six-month notice period, with a non-compete clause for two-and-a-half months. As such, Corcoran is said to be on “gardening leave” until August.
What if the NFL, DOJ Back Down Concerning New Jersey Sports Betting
As Gambling911.com was among the first to report, on Tuesday voters in New Jersey overwhelmingly voted for a referendum favoring sports betting in the state by a margin of 65 percent to 35 percent.
If you were thinking about betting on some College Football games this weekend in Atlantic City, that won’t happen.
New Jersey Elections Will Have Impact as Sports Betting on Way to Becoming Legal
History was made in New Jersey on Election Day, November 9, 2011 as voters overwhelmingly cast their ballots in favor of legalized sports betting in the Garden State.
Breaking News: New Jersey Sports Betting Referendum Passes by Whopping 65 Percent
A Election Day referendum to allow sports betting in the state of New Jersey has passed by a two to one margin, Gambling911.com can report late Tuesday.
The results will pave way for legalized sports wagering in Atlantic City and at state racetracks, boosting the local and state economy.
New Jersey would become only the second state in the US to allow legalized sports betting.
Sports Betting Referendum in New Jersey Could be on its Way to Approval
There’s early indications that the statewide referendum on sports betting is on its way to approval.
William J. Pascrell III, campaign director for Vote YES on Sports Wagering and a partner at Princeton Public Affairs Group Inc., said, “At this stage so far, the absentee (vote by mail) ballots we’ve been monitoring in northern New Jersey are running 2-to-1 for approval.’’
Bwin.party Shares Stable: Benefit Heavily From Full Tilt Poker Closure
Bwin.party reported a year-on-year revenue growth of 3 percent in the third quarter, benefiting from the abrupt closure of what had been the world’s second largest online poker firm, Full Tilt Poker.
According to Sharecast.com, third quarter pro-forma revenue of €201.1m was up from €194.7m in the third quarter of last year, ahead of the €194m Panmure Gordon had been predicting, and up 9% on the second quarter.
Black Friday Bank Shut Down
A bank implicated in the processing of funds for three of the world’s largest online poker rooms last April 15 has finally been shut down.
SunFirst Bank in Saint George, Utah, was closed down by US Feds at the close of last week. It is the 87th bank of 2011 to fail.
The US Justice Department alleges that Full Tilt Poker, PokerStars and UB.com enticed officials of SunFirst to disguise online poker transactions as dog food and golf balls. Executives of the three online poker companies were charged with money laundering and bank fraud as a result.
Herman Cain at 5 to 1 Odds Despite Sharon Bialek Accusations
South Point Poker Joins The Gambling911.com Family
In case you haven’t seen their banners flashing all over the site, we at Gambling911.com would like to officially welcome South Point Poker on board as the first Las Vegas Internet poker room.
“We are very thrilled to have them on board,” noted Payton O’Brien, Senior Editor of the Gambling911.com website. “Their entry ushers in a new era of legalized US-based casinos now offering online poker rooms.”
For now, the site will be free-to-play, however, the incentives are enormous.
Election Day in New Jersey 2011: The Economy and Sports Betting
Chances are most of the 55 percent of New Jersey registered voters who realize Election Day is tomorrow (November 8) will cast their votes based on economic concerns and which of the 120 state representatives, if any, can actually provide some glimmer of hope to revitalize a stagnant state economy.
Ironically, one of the referendums on the November 8 ballot could actually help boost the state’s ailing economy without the assistance of any elected officials.
It’s legalized sports betting in Atlantic City!
Bettors Find Loophole in Delaware Sports Betting Rules
Who says you can't make a single-game NFL bet in Delaware?
You actually can.
And many are.
Technically, you can't walk up to the windows of Delaware's three racetracks that offer NFL betting and bet on a lone NFL game.
You can't even bet a two-game parlay.
Under state law, the minimum number of NFL games you must bet at once is three.
In other words, you must bet a three-game parlay, and you have to win all three games in the parlay to win money.
Several Big Name Denver Businesses, Individuals Tied to Sports Betting Bust
Charlie Brown’s Bar and Grill maintained a $290,000 limit account there while Sports Column and Blake Street Tavern also placed their bets with what the Colorado Bureau of Investigation is calling the biggest bookmaking operation in the state.
Daniel Dinner and Michael Elick were arrested after investigators seized more than $1 million in cash from their homes in July. Now court documents have revealed some of their alleged big name clients.
MGM Head: “Positive Momentum in Congress Toward Passing Online Poker Bill”
In an interview with the Las Vegas Review Journal, MGM Resorts Chairman, Jim Murren, expressed his strong belief that the US Congress will get a bill passed to legalize online poker in the very near future.
"We think there is positive momentum in Congress toward passing a bill," MGM Resorts Chairman Jim Murren said. "It's time for the federal government to address this issue."
US Justice Department Online Poker Case Confuses Willie Nelson With Kenny Rogers
BBC: The New British Invasion as Poker Pros About to Topple US
The BBC featured an extensive report on Friday about the “New British Invasion” and this one involves its growing pool of successful poker pros, one of whom will be playing in next week’s World Series of Poker Final, Sam Holden.
From Mario Cacciottolo of the BBC:
The US-dominated world of poker is under threat of invasion from a wave of British players, with a 22-year-old from East Sussex about to compete for the biggest international prize at the weekend. So how did Britons barge their way in?
Full Tilt Poker, Groupe Bernard Tapie US Justice Dept Settlement: Not Quite
Reports surfaced this week that Groupe Bernard Tapie out of France had entered into an agreement with the US Justice Department that would result in payment of all players. But as we here at Gambling911.com have come to expect over these past several months, news coming out of the Full Tilt Poker camp is not always what it seems.
This is yet another perfect example.
An attorney for Groupe Bernard Tapie revealed on Thursday that, while talks were ongoing, a final settlement has yet to be agreed upon in writing.
New Amendments for Nevada Online Poker Released
In anticipation for legalized online poker in the state of Nevada, regulators released new draft amendments that include the ability for operators to cover funds in the event of a shutdown.
The agreement calls for a “federally-insured financial institute” to hold a reserve.
Online Poker Traffic Rises 2.2 Percent
Online poker traffic has risen 2.2 percent and there is likely to be another increase in the coming week with PokerStars 70 billionth hand promotion continuing. The world’s largest online poker room witnessed a traffic increase of 6 percent. Traffic also tends to increase leading up to the World Series of Poker Final Table, which will take place next week.
The weekly statistics tell only part of the story, PokerScout.com noted. Same-day comparisons show that the true increase in PokerStars cash game traffic is more than 30 percent.
Clown Robs Chilean Casino at Gunpoint
A man dressed as a clown robbed the Casino Monticello in the Chilean capital of Santiago at gunpoint Halloween night stealing $12,000 in cash.
Most of the money was snatched from a single patron. The clown entered through a side door, shooting his pistol several times into the air.
Police believe this was an “inside job’, detaining one of the casino security guards, Cristian Poblete.
The robbery occurred around 5 am.
Casino Monticello is the largest shareholder is the France-based International Group of Gaming & Resorts.
Bernie Madoff and Ken “The Shrink” Weitzner: Birds of a Feather
American TV show "60 Minutes" ran a segment on convicted ponzi schemer Bernie Madoff on Sunday, and revealed how he and his wife unsuccessfully tried to commit suicide after he was exposed as a con man and arrested.
The story had an eerie similarity to the tale of Ken "The Shrink" Weitzner, the sleazy Internet entrepreneur who created a pair of websites devoted to gambling and who took his own life last year.
Many of the details of both men's controversial lives are coincidentally alike.
Such as:
*Both men were middle-aged Jews from New York.
Chris Christie Finally Backs Sports Betting in New Jersey: Voters Get Their Ballots
After initially supporting sports betting in the state then seemingly backing down, New Jersey Governor Chris Christie came forward Wednesday to offer his full support for the referendum appearing on next week’s ballot.
As Gambling911.com reported earlier in the day, a number of state residents have been notifying us of the referendum appearing on the ballot that would allow NJ voters to get sports betting legalized in the state.
According to recent polls, voters overwhelmingly support legalized sports wagering in the state.
Sports Betting on New Jersey Election Ballot
A number of people from the state of New Jersey have advised Gambling911.com they were excited to see legalized sports betting on the ballot for next week’s elections in that state.
The Waltonian’s Raechel Jones notes that each voter will be given the option to either vote for or against this referendum. If the majority favors this referendum, the process towards making sports betting legal in Atlantic City will begin.
Bwin.party Shares Soar on News of MGM, Boyd Partnership But Caution Advised
While shares in Bwin.party have soared in recent days with news that the company has joined forces with powerhouse casino brands MGM and Boyd Gaming to offer online poker to US residents once legislation is passed in the States, some analysts have advised caution.
Share prices rose 11p at 120.7p following the news. The companies have entered into a long term 15-year deal.
Bwin, Boyd, MGM Online Poker Deal Terms Revealed
Bwin, PartyPoker, MGM and Boyd Gaming announced Monday their intention to offer Internet poker to US players should the industry become legalized. There is a strong push to get Web poker sites up and running for real cash play at the federal level especially since states like California and New Jersey are vying for a piece of the pie ahead of the federal government.
Under the terms of the deal, Bwin would own 65 per cent of a new company to offer poker to US players, while MGM would own 25 per cent and Boyd 10 per cent.
Full Tilt Poker Attorney Jeff Ifrah Claims US Justice Dept Approves Sale
An outspoken attorney for disgraced online poker firm Full Tilt Poker claims the US Justice Department has reached an agreement whereby they will permit a French company to acquire FTP. Unconfirmed reports suggest the US Justice Department would be responsible for facilitating payouts to players.
Groupe Bernard Tapiehas sought to purchase Full Tilt Poker after following a series of indictments in April 15 that forced the one time second largest Internet poker room to exit the US market. Players worldwide have not received payment in months.
888 Holdings Sees Record Quarterly Rise
Publicly traded 888 Holdings, which runs the 4th biggest online poker room in the world, has reported a record quarterly high.
888 climbed as much as 5.3 percent, the most since August 30, before trading 2.3 percent higher at 33.75 pence as of 9:10 a.m. in London, according to Bloomberg News Tuesday. This gives the Gibraltar-based company a market value of 117.1 million pounds ($187 million).
LSU vs. Alabama Betting Shatters Records for Gambling911.com
With an early release of betting odds for the LSU vs. Alabama College Football game this coming Saturday, Gambling911.com has seen some of its best traffic numbers for wagering coverage for a single regular season College Football game.
MGM, Boyd Join Forces With Bwin, PartyPoker to Offer Online Poker
Yet another major casino company has announced a partnership with an already existing online poker group.
Casino operators MGM Resorts International and Boyd Gaming Corp. have teamed up with Bwin.party to prepare to offer Internet gambling. Bwin.party is the largest Web betting firm worldwide, comprising of PartyPoker, the 2nd biggest Internet card room, and Bwin, the largest Web sportsbook. The combined company’s net revenue last year was 814 million euros.
Billionaires Bet on Internet Gambling: Say it Will be a Marathon, Not a Sprint
Forbes.com featured a piece Monday on how billionaires are looking to back the likelihood of Internet gambling getting regulated in the United States.
The likes of Steven Roth, chairman of Vornado Realty Trust, and shopping mall magnate Herbert Simon, the owner of the Indiana Pacers, have invested in a firm that provides software and advertising services to potential online gambling licensees in the US, including the Vegas casinos.
