• Home
• Poker Reviews
• Poker Bonus
• Poker Strategy
• Poker Rules
• Poker Players
• Mac Poker

• Poker Freerolls
• Poker News

Subscribe

Online Poker Regulation Standards in Columbia

Colombia, one of South America’s most successful economies, moves to reinforce protection of its citizens and collect its share from online gaming.

As the South American country looks forward to the formulation of new laws that will legalize Internet gaming, unlicensed operators have received a stern warning from Coljuegos, the Colombian gaming regulator.

Currently, it is illegal to partake of online gaming. Under Colombian legal definitions, poker is a game of chance and legal in licensed casinos. President Rodrigo Vélez Jara of Coljuegos has advised Colombian citizens to have no confidence in the game play offered by unlicensed casinos, asserting that they have no legal protection while playing. He has asked them to report unlicensed online operators for prosecution.

The constitution mandates that revenues coming from state monopolies fund health care. With this regard, Sr Vélez accuses unlicensed offshore operators of “… operating outside the law and undermining the funding of public health services in Colombia.”

The penalties for operators caught breaching the law include fines and a five-year ban from offering online gambling services in Colombia.

In spite of the warnings, major online operators have not yet faced any noteworthy legal challenges as they continue to provide their services in the Colombian marketplace. Coljuegos’ exhortations seem to have done nothing to water down operators’ argument that online poker is not illegal under the current law: rather than explicitly against Colombian law, it is not covered at all.

Last fall, Coljuegos was tasked by the government to develop a regulatory framework to support a new online gaming licensing law. Vélez said, “in the future, online games will be included in the portfolio of betting options available to Colombian consumers.”

Coljuegos was established as a replacement of ETESA in 2011. ETESA was a regulator given much greater power and expected to generate much more revenue than its predecessor ECOSALUD S.A. In 2001, ECOSALUD S.A was disbanded due to massive overstaffing, corruption, and ineffectiveness. ETESA came in and managed to increase revenues for the national health budget by 2%, which amounted to $148m. Expectations on Coljuegos are an increase of this amount by a factor of five. Such a task implies tapping into new revenue streams presented by licensed online gaming.

Finnish Poker Pro Bags $1.1 Million This Week Online

Patrik Antonius, the second most profitable high-stakes online poker player in history, is now up more than $15 million lifetime on Full Tilt Poker. He is back to his familiar soul-crushing strategies on the FTP software.

The Finnish pro took charge of the virtual arena from last Friday and won over $1.1 million while playing under the screen name “FinddaGrind”. This amount is the largest won in a week in the web poker world. According to the HighstakesDB Full Tilt pre-2012 data, Antonius was up approximately $13.5 million. This amount combined with his other winnings of 2013 puts him up about $15 million on Full Tilt Poker lifetime.

The online platform is not the only space Antonius dominates. He has come to be highly regarded for his brazen battle techniques in the live cash game arena, where he has earned a name for being one of the best and most profitable players of all time. The pro’s career is also marked by stunning tournament wins; the total wins he has amassed in tournaments throughout his career amount to nearly $5.6 million.

Just recently, in the 2013 Aussie Millions main event, Antonius finished third and took home $633,419.

The HighstakesDB figures can best put Antonius’ upswing into perspective. Below are the 2013 Full Tilt cash game standings.

Winners

Viktor “Isildur1” Blom: $4,063,347
Alexander “PostflopAction” Kostritsyn: $3,474,146
Ben “Bttech86” Tollerene: $1,841,245
Phil “OMGClayAiken” Galfond: $1,797,335
Patrik “FinddaGrind” Antonius: $1,523,801

Losers

Ben “Sauce1234” Sulsky: $1,904,302
Phil “Polarizing” Ivey: $1,851,903
Gus Hansen: $1,640,949
patpatpanda: $1,330,885
Scott “mastrblastr” Seiver: $1,220,393

Isildur1’s downswing officially came to an end when he surged to a $1.86 million profit in mid-March, taking the Swedish pro to the top of the chart with over $4 million in earnings. With a loss of $1.1 million last month alone, Phil Ivey’s record is not as glowing as would be expected.

New York May Be Next for Regulated Online Poker

A glimmer of hope finally emerges for poker enthusiasts of the Big Apple, as the Senate calls for the legalization of online poker.

For years, New York has enjoyed a reputation for being one of the states at the helm of the most stringent tax and business laws, and the more recent gun control laws. The world of online poker has been banned for a long time too. Now, though, a ray of sunshine has penetrated these restrictions promising a resurgence of online poker, as the New York Senate has called for the legalization of the game.

As stated by Jeff Klein and Dean Skelos, the principle proponents, online poker could bring in over $100 million in revenue for the state. This is a massive monetary amount that cannot be treated lightly, as it could be the much needed breath of fresh air in an environment weighed down by budget cuts and layoffs.

The legislation of the classic casino game couldn’t have come at a better time. Governor Cuomo is currently putting the construction of land-based casino operations across the state into serious consideration. Whilst a proposal necessitating no budget is a definite in for whichever cause, more so internet gambling, there is reason to believe online poker could become a reality in no time at all.

With the recent state court ruling of poker as, not a game of chance, but a game of skill, things are looking up for professional poker players. A game is considered illegal when it is ascertained to be a game of chance. Poker has set itself apart for decades, and it appears the state government has begun to get into terms with this. Besides, the potential revenue it could generate if legalized is a highly persuasive prospect.

The 1961 Wire Act is the one thing that has made the poker situation very muddled, what with its ambiguity when it comes to whether games like poker are categorized under the illegal umbrella of sportsbetting. However, it is likely to have little or no influence on the realization of online poker in many states like New York. In fact, the Department of Justice recently reinterpreted this law, rendering clarity to the distinction between poker and sportsbetting.

It’s about time government officials recognized the potential in the legalization of online poker. Focus has shifted from the outdated discourse that has always sought to assert poker as a sport that has nothing to do with skills, to now numbers and facts. This issue could be settled as soon as in April, when the fruition of legislative deadlines will arrive.

Isildur1 Update

The downswing for the poker pro is officially over. Viktor “Isildur1″ Blom put together a huge week as he surged to a $1.86 million profit that hefted his 2013 earnings back to about $4 million.

This data is from HighstakesDB and it further indicates that at the time, he appeared to be a solid winner in an ongoing battle with Tom “durrrr” Dwan.

The Swedish high-stakes online poker Viktor Blom, aka Isildur1, pro was up over $5 million in January, having already eclipsed the year’s $2 million profit mark by 5th January. February was not so good, as Isildur1 dropped over $4 million of the $5 million in a span of around six weeks. March seems to be going well so far.

He had to put in nearly 16,000 hands to battle through the downswing, and this seems to be the lead in the nosebleed stakes.

Ben “Bttech86″ Tollerene is one of the pros who has fallen victim to Blom’s onslaught in the last week, losing over $640,000. Phil Ivey is another who has fallen hard. He is actually the largest loser of that week, having dropped over $800,000. This year has seen Ivey down with more than $1.8 million.

Equity Poker Non-Profit Poker Network

Clive Archer, previously of Action Poker Network and BetOnsports, has announced a new non-profit B2B platform for online poker called the Equity Poker Network.

This network is tentatively slated for a June launch and promises a “fairer future” for operators who are still small and medium-sized, in a market that is on a fast evolution track and where skin and network battles reign as the rule instead of the exception. It will have a fixed price and operate as a non-profit collective whose controlling share will belong to the members. It will be defined by transparent accounting, as well as a “Clearing House Functionality” geared towards keeping players’ funds accessible while ascertaining the funds for covering liabilities.

Concept creator Archer says, “Equity is a non-profit cooperative which means that it will redistribute any profits it makes to the Operators on the network,” further elaborating that, “it operates on the basis of a fixed fee of $10,000 per month and this is used to pay for the operation of the network. The cooperative means that the members of the network make up the management committee which runs the network with voting power based on what volume they have of the network’s business.”

The network has already been envisioned to implement a “shark tax” that compensates member operators with the greatest contribution of revenue-producing fish.

According to Archer, there are at least five operators already committed to skins while awaiting the startup of the network. He notes that it is vital for such a concept as Equity to have initial liquidity in order to survive, as it is a non-profit operational hub:

“Obviously since it is a new network it is important that I have sufficient [operators] to all join simultaneously at launch to ensure liquidity.”

Costa Rica, which serves as home to a number of poker networks, is set to be the initial base for Equity Poker Network. EPN will be powered by software from the Swedish-owned Playsafe Holding AS; software that will provide access to such online casino games as Slots and Blackjack.

Will Texas Hold ‘em?

In spite of Texas Hold ‘em being one of the world’s most popular games, this popularity cannot be said to apply in the like-named state of Texas. The Lone Star State has garnered notoriety for its exclusion of poker within its boundaries. In light of recent events though, it may soon change its stand against online poker.

Senator Leticia Van de Putte introduced State Bill No. 1103 alongside State of Texas Ballot Measure SJR No. 43, both offering an amendment in the constitution that allows online poker gaming on condition that the federal government regulates it. This joint resolution essentially proposes a constitutional amendment that will mandate federal regulation of online poker, as well as provisions for a constitutional amendment at the state level that would see Texas opt-in following the enactment of a federal licensing program for online poker facilities. It requires the approval of both the House and Senate before its presentation to the president.

The measure additionally lets any state to implement the federal law if and when it is made available. In the occasion that the federal law fails to be passed, the joint resolution has a provision that mandates Texas to provide online poker through a lottery system run by the state agency. This may occur if the voters approve the suggested measure in a free election set for November 5, 2013.

Although many consider the proposed online poker legislation, already a reality in New Jersey, a long shot, it has revealed that this is a matter being weighed in the minds of Texas lawmakers.

Apart from Senator Putte’s bills, there are also House Bill No. 292 and House Bill No. 2098 pending in action. House Bill No. 292 has been stagnant since last December when it was introduced, and it proposes “regulated poker gaming” only through legit gambling establishments.

On the other hand, Rep. Ryan Guillen (D-Rio Grande City) filed House Bill No. 2098 on February 28, seeking to have “social poker gaming” legalized. Were it to go through, certain licensed facilities would be allowed to offer the game to “registered players” without collecting rake, but still profit. The profits would be acquired through food sales and membership fees.

Whether these measures will sail through or not remains a mystery until the November 5 election. Meanwhile, you can make Texas your latest addition to the list of states seeking to embrace online poker. The 26 million population of the Lone Star State gives it a massive potential for a revenue source through online poker.

Australia Explores Regulated Internet Poker Tournaments

In a study released by the Australian government last week, regulation of online gambling as an initiative for consumer protection has been recommended.

Dubbed “Review of the Interactive Gambling Act 2001 (IGA)” by the Department of Broadband, Communications and the Digital Economy (DBCDE), the study recommends a regulatory framework that is inclusive of the legalization of online poker tournaments be implemented. The IGA currently disallows the majority of Internet gambling forms and poker, but allows lotteries and sports betting.

The review concludes that as a result of a lack of enforcement mechanisms, the “IGA may in fact be exacerbating the risk of harm because of the high level of usage by Australians of prohibited services.”

Senator Stephen Conroy, the DBCDE Minister, responded to the review by outlining the government’s strategy for the establishment of a national standard for consumer protection and minimization of harm. He said this strategy is meant to, “… provide a consistent approach to online gambling regulation across all Australian states and territories.”

There will be set standards for the usage of credit in wagering, the limits on the inducements gaming operators offer, and the mandatory self-imposition of loss limits. The Senator stated that “the Government will not be pursuing the recommended changes relating to the trial of online tournament poker or ‘in-play’ sports wagering” until a plan of this kind is put in place.

In case the state governments do agree upon such a consistent set of policies, the federal government will be in a position to make a move towards the implementation of the framework that will enforce operators to offer services like online tournament poker, which are low risk, instead of high risk online gambling services such as online slot machines.

This legal dimension to online gambling will be accompanied by the increment of the enforcement measures against operators still unlicensed. There will be a blacklist compilation of these operators, followed by its circulation to financial institutions and Internet Service Providers.

Even with a consensus on the nationwide harm minimization initiatives, there will still be plenty of opposition likely to derail the recommendations implementation. Andrew Wilkie, a Member of Parliament, is in opposition to the report’s basic premise. He has a parallel view, “the best response is not to liberalise the Australian market, but rather to tighten it up and put in place strategies to deter Australians from accessing the dangerous offshore sites.”

Ladbrokes Moves to iPoker Network

Ladbrokes plans on an “orderly transition” from Micrograming (MPN) to iPoker “in due course” as part of a wide-reaching new relationship online.

In a move to deepen the existing partnership with Playtech, Ladbrokes declared its intentions to migrate its online poker operation to Playtech’s iPoker network. The company confirmed its plan to launch the full suite of Playtech’s products, including online poker, over time in a press statement that was released last Monday.

A Ladbrokes spokesperson clarified “in line with our contractual commitments we will continue to work with Microgaming … until such time as we have agreed an orderly transition.”

The initial step will be to add a “Vegas” tab to the Ladbrokes website and mobile products, which gives access to the games and products offered by Playtech. This will be followed by online poker, though a timescale is yet to be announced.

Currently, Ladbrokes is one of Microgaming network’s most prominent brands, running the LBApuestas brand in Spain, Ladbrokes.DK in regulated Denmark, and a dot.com room under Gibraltar license. The move to iPoker is expected to reinvigorate the company’s online poker offering in the face of past declining revenue sources. In the wake of news of the deal, Ladbrokes share price has gone up with 6.5%.

888 Holdings to Team Up with Treasure Island

Nevada’s interactive gaming club saw two additional companies took a step towards joining it last week on Wednesday, following the state’s Gaming Control Board’s unanimous approval of recommendations for domestic and foreign operators.

Gibraltar-based 888 Holdings and Treasure Island of Las Vegas, the two newest potential entries, could constitute the first additions since the signing of the legislation that transforms Nevada’s interactive gaming landscape by Governor Brian Sandoval. Assuming that the Nevada Gaming Commission approves them during its March 21 meeting, the two operators will make up the 20th and 21st companies to be awarded interactive gaming licenses within the borders.

There is a common link between the two prospective licensees:  888 Holdings plans on collaborating with the Strip-side property, Caesars Entertainment, and WMS Gaming in bringing online poker to the U.S. market using its experience in the European market and its technology.

Speaking to regulators, 888 Holdings officials said the company intends to create a website for Caesars dedicated to a World Series of Poker.

More than two hours of questioning by regulators ascertained that 888 Holdings executives are confident in the ability of their software to validate players’ ages, detect their locations, as well as pinpoint collusions among them. They also said this software could detect and head off problem gambling.

The control board called to attention the fact that 888 Holdings was one of those companies that halted the business of taking wagers from American players following the 2006 approval of the Unlawful Internet Gambling Enforcement Act. This is a move that puts the Gibraltar-based operator in compliance with the interactive poker law that Sandoval signed last month.

The board chairman, A.G. Burnett, said the already approved 19 companies have no need to reappear before the board for eligibility to bring poker because they are licensed for interstate gaming, and the new legislation takes away the older restrictions. In an interview following the hearing, he stated, “We’re up and running,” adding that “I think a good way to think of it is that there was a barrier to our gaming companies offering bets into other states that was created by the Legislature. That barrier has been removed. However, there are still federal and state barriers out there that they have to be cautious of and wary of. They just don’t have that Nevada stricture anymore.”

There were two other companies recommended for the board’s approval to operate as service providers for interactive gaming components.

XYVerify, New York, won approval to provide geolocation technology aimed at incorporating cellular telephone tower triangulation with GPS technology in pinpointing a prospective player’s location, validating this is within the state boundaries, as well as confirming their eligibility to play Internet poker.

Player Verify LLC, Franklin, Tenn., was also recommended for approval to work with the gaming operators and players in controlling problem gambling. It plans on creating a website that alerts the operators of the players’ desires to stop the inflow of any casino marketing information to them.

Phil Ivey Online Poker Update

Tracking data from HighstakesDB shows that Phil Ivey is not doing so well since his return to Full Tilt. The Pro gambler, whose net worth is $100 million, lost $1.1 million last month.

Ivey is regarded as the world’s best all-round poker player and he was at one time a Full Tilt Team Pro. However, since coming back to the software now belonging to PokerStars, his game play has been under the screen name “Polarizing”.

The eight times World Series Poker Bracelets winner has had a few upswings, but his overall performance has been poor. This is rather unusual, considering no other player on the site has won more than him over the years with the more than $19 million profits he bagged prior to Black Friday.

February was not just cruel to Ivey, but to other big names too. Viktor “Isildur1″ Blom saw most of his year’s winnings evaporate with a loss of over $1.5 million. On the flip side, over $2 million went under Tom “durrrr” Dwan’s belt in the past four weeks to put him on the leader board. Trailing him were Alex “Alexonmoon” Luneau and Alex “PostflopAction” Kostritsyn, who won $1 million and nearly $1 million respectively.

« Previous Page — Next Page »

Best Poker Bonus at 888 Poker 100% up to $600/£400/€400 sign up bonus plus £5/$8/€6 FREE to new players(No USA Players) .

Copyright © 2009 Online Poker News | Partners | Sitemap