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Full Tilt Legal Team Pulls Stunts at AGCC Hearing

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This past Sunday, Tom Dwan published a few of his thoughts on Twitter which didn’t exactly reassure Full Tilt poker players. The Full Tilt sponsored poker star, in a series of tweets, said the following:

“Lotsa ppl pming me n messaging on twitter w/o having read up on what I said. If worst case happens I’ll pay in a fair way, and that won’t Involve paying individuals jus b/c they messaged me a lot. Timeline was late 2012 I think (or anytime I’m >90%ish of ftp not paying out) That said let’s hope everything gets resolved n I can keep my $$s to spend on some goofy stuff that I’ll thinkup later.”

Dwan was referring to a guarantee he made after Black Friday, where he stated that he would “guarantee $1M in payouts from FTP/Stars. If they somehow don’t pay, I’ll figure out a fair way to disperse it, and send out all the gelt over Hanukah 2012.” Headlines have been rife with speculation on the future of Full Tilt, but to this day, little is certain.

Full Tilt’s situation was further complicated today. The Full Tilt legal team interrupted the Alderney Gambling Control Commission hearings which began today, asking that the proceedings be put behind closed doors without access by the press. One of Full Tilt’s legal representatives, Martin Heslop, said, “It is not in the interest of justice that this should be aired in public. There is a real risk that it may be detrimental to these interests and highly prejudicial to this decision.” Heslop cited “highly commercially sensitive information” which will be discussed in the hearings which would result i a “highly damaging effect” if done publicly.

The Alrney Gambling Control Commission (AGCC) denied the request, and continued with the hearings. The AGCC recently took away Full Tilt’s gambling license. In response to the AGCC’s denial of a private hearing, the Full Tilt team engaged in a stalemate, refusing to cooperate with the proceedings. AGCC officials finally agreed to ask press to exit the hearing room, where private discussions then began in earnest.

Full Tilt’s actions during these hearings, and Dwan’s cryptics tweets, do not indicate a strong bargaining position for the poker site, or a successful outcome. However at this point, speculation is the only certainty to be had.

Since Full Tilt crypto gambling had its gaming license revoked by the Alderney Gambling Control Commission (AGCC), there has been one clear winner: PokerStars. Upon losing its license, Full Tilt was immediately closed, only adding to the crippling effects of Black Friday. But PokerStars, who has proven themselves to be perhaps the most reliable site on the market, has been there to pick up the pieces.

Full Tilt housed roughly 7,000 cash game and 6,000 tournament players, all now without a home. Within three days of the shut down, 41% of the players had already showed up on other sites, with 59% inactive. It turns out that 27% of the active players moved to PokerStars, and have stayed there. For years, the online poker world has been seen as dominated by just two camps. And when one of those camps collapsed, it was nothing but easy work for PokerStars to play clean up.

Full Tilt’s future remains uncertain. Days before losing their license, an unnamed group of European investors was reported to have reached a $150 million buy-out deal to save Full Tilt. However, since the license was lost, information on the status of Full Tilt and any possible deal remains ambiguous at best.

But while Full Tilt hangs in the lurch, you can always get in on some real action: ESPN is currently live streaming the World Series of Poker Main Event, for the first time in WSOP history. You can find live coverage today through Wednesday, July 20 on ESPN3, ESPN2, and ESPN.…

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Bitcoin ETN Makes its Debut in the United States – Crypto Gambling

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Investors in the United States who wish to trade Bitcoin without having to buy the cryptocurrency have been given another route to the top-ranked virtual currency via Bitcoin Exchange Traded Notes (ETN).

 

Details of the Bitcoin ETN

 

According to Bloomberg, starting Wednesday American investors will now have access to Bitcoin Tracker One, and BTC ETN and Crypto Gambling. The product which runs under the CXBTF ticker will be quoted in U.S. dollars. However, the clearing and settlement of the trade will be in Krona and Euro since the product is listed and regulated in Sweden.

 

The ETN is issued by XBT Provider, a subsidiary of CoinShares. The company developed the product in 2015. In July 2018, Amsterdam-based EU speed trading behemoth, Flow Traders became the first company to participate in the BTC ETN market.

 

For Americans, trading is this particular Bitcoin ETN is like purchasing a U.S. depository receipt in that a foreign-listed asset is denominated in U.S. dollars. Commenting on the ETN, CEO of Coinshares, Ryan Radloff said:

 

Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona. Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin.

 

ETN Might Represent a Soft Opening for Bitcoin ETF

The introduction of BTC ETN trading capability in the United States could be seen as a soft opening for the much sought after Bitcoin exchange-traded fund (ETF). The SEC has far remained unmoved in its reticence concerning issuing approval for any BTC ETF.

 

Recently, the Commission denied the Winklevoss twins’ ETF application while postponing its decision on the VanEck/SolidX, as well as the Direxion filings. According to the SEC, issues relating to liquidity, custodial tools, and price manipulation haven’t been sufficiently addressed.

 

ETNs and ETFs are similar in some respects as they provide an opportunity to invest in an asset without actually owning the asset. Such a trading avenue seems perfect for cryptocurrencies given their price volatility. However, a few subtle differences exist between the two. Rather than being an asset pool, ETN is more like a debt instrument that is backed by a bank or any other recognized issuing institution.

 

Do you think the Bitcoin ETN will gain traction in the American market? Keep the conversation going in the comment section below.

 

Ethereum Price Falls Below $300 as Cryptocurrency Market Tumbles – Crypto ICO Report NEWS13 Total viewsNo comments

 

The price of Ethereum has fallen below $300 as the cryptocurrency market enters a more intense bearish pullback. Except for Tether, all other top ten coins have experienced significant negative price movements within the last 24-hour trading period.

 

Ethereum Tumbles 17 Percent

Ethereum, the second-ranked cryptocurrency according to market capitalization sunk to its lowest 2018 valuation on Monday afternoon UTC. ETH has not traded below $300 since the start of November 2017. At press time, ETH has dipped more than 17 percent to take its 2018 decline to 60 percent.

 

The decline in the price of ETH is being attributed to the disillusionment of ICO investors. The sheer number of ICO exit scams and the amounts being siphoned by these pump and dump schemes has created negative sentiments in the ETH market.

 

Ethereum, the preferred platform for most ICO projects benefited from this fact reaching above $1,000 in February 2018. At the time, BTC was declining below $6,000. However, the tide seems to have turned as many of the ICO projects that generated interest in ETH, driving up its price have begun to cash out to cover expenses. Thus, the ETH is is starting to slide. Commenting on the issue, BloomWater Capital chief, Biswas Das said:

 

These startups are raising a lot of funds, but they don’t have treasury management or enough cash management experience, so they’re selling too early and causing a lot of pressure in the market. It was fine last year, but right now, the market is so fragile that it causes a lot of pressure.

 

 

The general bearishness perhaps exacerbates the ETH decline in the market occasioned by stricter regulations and the slow pace of institutional adoption. Experts believe that projects aren’t done cashing out and thus predict even more pain for ETH investors as prices sink even lower.

 

Bitcoin Dips More than 20 Percent in August as Altcoins Continue to Bleed

Bitcoin briefly slipped below the $6,000 mark in the early morning on Tuesday (August 14, 2018). The top-ranked cryptocurrency is now back above $6,000 at the time of writing this article. BTC has dropped more than 20 percent in August eroding most of the gains accrued in July. Bitcoin’s year-to-date decline now stands at 57 percent.

 

Positive sentiments leading up to the SEC’s decision on numerous ETFs drove prices up to $8,400 in late July. However, the Commission has either rejected or delayed approving the various filings brought before it. The consensus is that an SEC-approved Bitcoin ETF in 2018 is highly unlikely.

 

The altcoin market, in general, appears bleak as well with prices depreciating significantly. Cardano leads the decline in the top ten, falling more almost 20 percent within the last 24 hours. Outside the top ten, Ethereum Classic has been unable to maintain its upward price trajectory after a raft of platform adoptions. The 13th-ranked cryptocurrency is currently down by more than 19 percent in the last 24 hours.

 

How low do you expect the price of Ethereum to reach in this current decline? Keep the conversation going in the comment section below.…

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Vegas, slot demo Baby. Vegas.

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Tomorrow, I am heading to Sin City, a short four-hour drive across the desert. I’m going to meet a friend and her boyfriend, who make the pilgrimmage from New York every year for the first weekend of the NCAA men’s basketball tournament. As I’ve previously mentioned, I’m an avowed slot demo player, having already logged 125 hours of live and online play this year, so I’ll be sure to get over to the Bellagio poker room at some point while I’m there (and maybe to the 6-12 game at the Mirage, if I do well at Bellagio). The rest of the time I’ll just be hopping from sports book to sports book, watching the games.

Having made this trip three times in the last nine months, I can honestly say that “The Fertile Valleys” is starting to lose whatever appeal it once had for me, especially since there are at least five perfectly serviceable card rooms in the Los Angeles area. Vegas trips are becoming more and more about meeting up with friends — mainly New Yorkers — I might not otherwise get to see.

Someone’s got to pay for my gas, though, and it’s certainly not going to be me.

Cats and Visitors Smell

Where do the boundaries of friendship, hospitality and common courtesy intersect?

Tonight I’m hosting what was originally supposed to be two friends from New York, which turned into 3 friends from New York a week ago, which I learned in a phone call four hours ago has increased to 4 friends from New York. Now, I live in a 700sf one-bedroom apartment. Said apartment is furnished with a queen-sized bed, a couch, a little loveseat-ish type thing, and a large wicker chair with foot rest. It is all extremely crappy furniture, but none of it is mine, so I don’t really care. The point is, I am not exactly built for hosting four people.

I suppose one person can sleep on the couch, one person can sleep in the bed with me, one person can sleep on the air mattress I borrowed from my girlfriend’s sister, and one person… gets the wicker chair? Or the floor. Whichever. My poor, flatulent cat is going to have to sleep in the bathroom, because she can’t sleep with me like she normally does and she can’t sleep in the living room, as it will be chock full of scary New Yorkers. (She spooks easily.)

All of this is bearable, I guess. “Couldn’t they have chipped in $30 each and rented a hotel room?” my girlfriend asked me tonight. The answer is yes, of course they could have. But originally, when there were only going to be two people staying here, a hotel room would have been twice as much and it would have been no problem for them to sleep here. Plus, they are my friends, and I am trying to be hospitable.

What’s not bearable is that one of them called me about twenty minutes ago to say that they were just leaving the Bay Area and don’t expect to arrive to my apartment until about 3:30 in the morning. This means that I am either going to have to wait up until 3:30 for them to get here (not likely) or have them wake up me and my flatulent cat (man, she really does stink) at 3:30 in the morning to let them in.

Someone’s going to die if they insist on going to Burbank at 7:30 tomorrow morning to get Jay Leno tickets.…

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Updates

Bicycle Casino Stars and Stripes Pragmatic Play Tournament

 

The Bicycle Casino Stars and Stripes Pragmatic Play Tournament takes place annually at the popular Bicycle Casino card club in Southern California.  The Stars and Stripes poker tournaments begin about the third week of June and go through the first week of July.

The poker tournaments generally have guaranteed prize pools of between $10,000 and $50,000.  Buy-ins are $100 (plus a $20 entry fee).  A variety of poker games are offered including Texas Hold’em, 7 Card Stud poker, and Omaha poker tournaments.

The Stars and Stripes Poker Tournament is one of over twenty annual poker tournaments hosted by the Bicycle Casino.  The Bicycle Casino is a member of the World Poker Tour and the Stars and Stripes tournament is followed by one of the Bicycle Casino’s major poker tournaments of the year, the Legends of Poker.

Erick Lindgren is the World Poker Tour Player of the Year

The World Poker Tour has named Erick Lindgren the WPT Player of the Year.  The 27 year old Lindgren, a Las Vegas resident, won two WPT poker tournaments – the Party Poker Million and the Ultimate Poker Classic – and made it to the final table at the Grand Prix de Paris for total prize winnings of $1,560,568.

Lindgren made it to the Party Poker Million championship tournament in March after winning a $162 satellite tournament on Party Poker.  He won the tournament championship and took home a million dollars.  Lindgren will be easy to spot at the World Poker Tour tournaments this season.  He will be the one wearing the WPT Player of the Year jacket, a perk of the position.Matt Matros Finishes Third in World Poker Tour after Entering Party Poker Satellite Tournament

Matt Matros, a 26 year old graduate student in fiction writing at Sarah Lawrence College in New York, finished third in the World Poker Tour Championship, winning $706,903, after entering a $100 poker satellite on Party Poker.  He played consistent smart poker against a table of top players, only outlasted by poker pros Martin Deknijff of Sweden and Hassan Habib of California… Matt Matros World Poker Tour

A New Vegas Horseshoe Casino?

Harrah’s Entertainment Inc.’s top executive today said prospects for opening a fourth hotel-casino in Las Vegas using the “Horseshoe” brand look good and that the company is “taking a look at growth prospects for Las Vegas.”

World Poker Tour

The second season of the World Poker Tour culminates Friday, April 23 at Bellagio in Las Vegas when one winner will walk away with $2,728,356, the largest-ever prize paid to the first place finisher in a televised poker tournament or North American sporting event.  The World Poker Tour Championship attracted 343 players to Bellagio for a record-smashing $8.6 million prize pool, the highest ever in tournament poker, with the player finishing 50th earning $33,266.  The buy-in for the tournament was $25,300, the largest in the sport.  Last year’s WPT Championship at Bellagio drew 111 players with victor Alan Goehring taking home a $1,011,886 slice of the more than $2.6 million purse.

Organizer of Televised Poker Tournaments Files for IPO

WPT Enterprises Inc., the organizer of televised poker tournaments, officially filed for an IPO on Thursday.  WPT is a subsidiary of Lakes Entertainment Inc. in Minnetonka which currently owns about 80 percent of WPT.  In its filing with the Securities and Exchange Commission, WPT said it hopes to raise about $32.2 million by offering 4 million shares at $5 to $7.  The money will be used to expand WPT’s activities.…

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Reseating the Final Three Tables Sihoki Slot

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As I have said many times in the past, if you are going to reseat the players then random is wrong. What is the purpose? So if you are going to reseat them, why not balance the tables?

As BJ has pointed out below, going into today’s Final Three tables the chip counts per table look like this.

Chip Count Per Table

Table 1 … 34,010,000

Table 2 … 24,135,000

Table 3 … 30,101,000

Now you are never going to get a perfect balance when the chipleader has just a monster stack, as Jamie Gold does today. But the Sommerfeld Reseating System helps a lot. Jamie would be at the first table, then the next chip stack is at two, and the third at table three. The order is reverse and chip stack four is at table three, five at two and six at one. Reverse again and keep going. Do that with these final tables and even with the monster chip lead you get more reasonably balanced tables.

Chip Count Per Table

Table 1 … 32,880,000

Table 2 … 27,846,000

Table 3 … 27,520,000

Yes, you could in theory almost completely balance the tables but that would mean putting most or all of the short stacks with the huge chip leader and that would spell disaster for the short stacks and the rest of the field as the Sihoki Slot pounds them into submission. This actually is close to the situation we have today; Jamie Gold is on table #3 in today’s draw, so he has 13M of the 30.1 M at his table and will be blasting away at those short stacks.

Analysis of Chip Counts and Table Draws – Final 3 Tables

Here are the breakdowns, by seating position, of the final 27 players. Poker Shrink gave you the view in chip count order, but this gives us a different perspective.

There were three players with different “official” chip counts released by Harrah’s and CardPlayer.com. Looking at the errors, the most likely scenario is that one person read the chip counts to somebody typing them in, and the typist misheard or transposed a few numbers.

I listed Harrah’s numbers first, with any CP discrepancies noted after the player’s name. Later, in my analysis, you’ll see why I believe the Harrah’s numbers are more likely to be correct.

TABLE 1

1 … 3,275,000 … Richard Lee … (CP shows 5,275,000)

2 … 2,650,000 … Allen Cunningham

3 … 3,670,000 … Kevin Aaronson

4 … 2,130,000 … Kevin O’Donnell

5 … 7,735,000 … Erik Friberg

6 … 1,785,000 … Eric Lynch

7 … 3,275,000 … John Magill

8 … 3,765,000 … William Thorsson

9 … 5,725,000 … Michael Binger … (CP shows 5,275,000)

TABLE 2

1 … 1,685,000 … Rob Roseman

2 … 1,100,000 … Luke Chung

3 … 6,905,000 … David Einhorn

4 … 5,430,000 … Dan Nassif

5 … 2,265,000 … Leif Force

6 … 1,210,000 … Dustin Holmes

7 … 1,190,000 … Sirous Jamshidi

8 … 3,715,000 … Jeffrey Lisandro … (CP shows 3,750,000)

9 …… 635,000 … Mark Garner

TABLE 3

1 … 13,000,000 … Jamie Gold

2 ….. 3,595,000 … Doug Kim

3 ….. 1,700,000 … Lee Kort

4 ….. 6,400,000 … Rhett Butler

5 ….. 1,850,000 … Prahlad Friedman

6 ….. 1,611,000 … Fred Goldberg

7 …….. 675,000 … Siddharth Jain

8 …….. 700,000 … Paul Wasicka

9 …….. 570,000 … Richard Wyrick

For analysis of the chip counts and table draws, click “Continue reading…”…

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THE ACTUAL sbobet TOURNAMENT

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I HAVEN’T EVEN GOTTEN TO THE PARTY YET SO JUST BEAR WITH ME

Let’s just skip to the final table shall we. It’s the main event, the part we all came to see. Actually very few of us came here to play poker, but this is the best of it and it certainly deserves a telling.

10 players remained and 5 were sbobet Palmetto proud (This is a South Carolina expression meaning they’re homeboys). In fact, 40% of the final table was comprised of members of the Smith family. I’ve tried all afternoon to think of any event where a single family has shown so much dominance and the closest I can come up with is the Corleones.

The entire table looked like this :

Double As

Dr. Pauly

Wes Nile Virus

Shep Tiltstein

Team Scott Smith

Debbie Smith

The Wolverine (also a Smith)

Lefty

Daddy

Uncle Brian (who knocked me out)

Honorary Feature Table bubble and 11th place finisher = Al Can’t Hang

At the start DoubleAs held a massive chip advantage and Daddy was close behind. The Wolverine cut into both stacks with some very crafty plays. Then shortly after Uncle Brian (Stupid pocket Kings) busted out we had the hand of the century….******* For Much Greater Detail on this hand you must read the END of this post a future post [ed’s correction], but here’s the short version:

Only two players, Daddy and The Wolverine see the flop :

It’s A-7-7.

The turn is a rag.

The river is a 7.

Daddy bets the river and The Wolverine pushes all in. Daddy says, “You have quads don’t you?” Then he lays down, FOLDS, pocket aces.

The Wolverine shows the hammer, Quad 7s.

AN APOLOGY

Meanwhile, the party was rockin’ outside. Four pretty girls dressed, oddly, as Hooter’s girls arrived. They brought dozens of their closest friends. My buddy Ted and his parents arrived and his mother who has very nice Hooters herself begged me to touch the muscles of her thigh. She’d been working out and, while I was uncomfortable, I hate to be rude.

Eva’d made me another LIT and a coupla carbombs too. I’d started tinkering with SoCo and had a head full of beer. After the previous night, it was easy to get the stupid flowing. Dr. Jeff calls it the “shampoo effect”.

THE SHAMPOO EFFECT

You know how when you lather your hair and then rinse, you get a pretty mild lather of bubbles on the hair.

But…

If you follow the directions and actually REPEAT the process you almost instantly get a full head of giant bubbles. The previous wash made the second one quicker.

Likewise, if you still feel last night’s booze, today’s is coming FAST.

Friends my buzz was moving like my Head and Shoulders and Al Can’t Hang is a lousy conditioner. Therefore, I’m a bit sketchy on the EXACT tournament details but I can tell what I remember. Most of my memories begin at the DRUNK OLYMPICS…

SANS CHEESE BALLS

WHAT I REMEMBER

Pauly beat Wes (The Big Pirate). They chopped the pot and then had one had to determine a champion. It was Pauly.

Within moments the gospel spread and the great game was over. Millions of devout Pauly fans shed tears of joy, millions of pirates returned to their jobs at Capital One. Better still, the DRUNK OLYMPICS were ready to begin.

Otis, Al and I dragged a PA system with two speakers to the upper corner of the driveway, Otis plugged it in, and said, “Hello” to the crowd. They were all there by then, and even the Hooters girls perked up.

CJ and BG were the referees.…

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