05.30.2008 | 3:19 pm | Poker, gambling
Even though the online version of Poker seems to have grabbed much of the attention over the last few years, let us not forget that offline traditional Poker venues are still very popular, with countries such as the UK showing increased attendance figures of late. The onset of the 2008 WSOP has also highlighted the popularity of offline Poker but do you need the same skills to play online as you do face to face?
Let us consider the different elements of each game and how important they can be :-
Head For Numbers
A head for numbers and the ability to work out the probability of cards dropping is something which is vital in both online and offline Poker.
Nerve
This is where the two elements start to differ slightly because offline Poker offers your opponents the chance to try and pile on the pressure and physc you out. It would be wrong to say that nerve was not needed in online Poker, but this is may be a different ‘style’.
Patience
As they say, patience is a virtue, never more so than in the area of Poker, whether this is online or offline however it may be a little more critical for those playing online. As your opponents on a large table take their time many players can become irritated and there is a chance they may play their hand too quickly. Even if your next move is obvious it is always a good idea to vary the time which you take to play your next hand – keep your opponents on their toes and do not make life easy for them!
In truth there are many ways in which an online Poker player could adapt their game to the offline version and visa versa, but they are really two different skills and the tactics used and characteristics required are not always the same.
05.29.2008 | 3:04 pm | Poker, News, casinos
While the great debate about online Poker in the US continues to attract controversy and confusion there are many who are now considering the impact upon the industry if the US does not come back online. There are many in the industry making plans for online Poker without the US with the view that any change in the laws of America would be a bonus. So what is the outlook for the online Poker industry?
Only a few months ago the thought of the industry being without the US forever was something of a nightmare. However, as the dust settles on the changes in the US regulations and the rise of places such as Macau come to the fore, many are starting to think that maybe the US is not the be all and end all of online Poker. Maybe there is life without the dollar?
While these thoughts seem to be well based in places the fact is that even though places such as Macau have overtaken Las Vegas as the centre of traditional Poker venues, the US is still a massive Poker market. The online ban has hit many companies hard, both those based in the US and other areas of the world, but there are rumours of illegal online Poker operations in existence in the country. The authorities seem very keen to keep the existence of these illegal operations out of the media but they do seem to exist.
The perfect scenario would be to have the US firmly back online in the Poker industry and while there is every chance this may happen, it does not look as though it is imminent. Europe and the rest of the world still represent new and exciting markets with areas such as China possibly dwarfing the US online Poker market in the future.
05.28.2008 | 1:53 pm | News, casinos
While he has been making big noises about the smoking ban in various States in the US it seems that Donald Trump is finally shipping out of Atlantic City. Apparently he was looking to sell all three of his casinos in Atlantic City and has finally accepted an offer for one of the venues. The offer for the Trump Marina Hotel Casino is reported at around the $316 million level with many people feeling that the new buyer has got a great bargain.
The problem with Trump’s casinos in Atlantic City is the fact that they are now rundown and in need of some serious financial investment to bring them back to the level required into today’s ever competitive casino market. The operation has been acquired by a company called Coastal Marina and while the deal may take up to 9 months to receive regulatory approval it seems very much a done deal.
It has been reported that Coastal Marina has already agreed a tie-up with Margaritaville Holdings, the business arm of musician Jimmy Buffett. This has set the wheels in motion for a serious revamp of the whole operation, including the look and the feel. This is what the Trump Marina Hotel Casino has been crying out for and the whole area will receive a boost as and when the deal is finalised.
While the Trump executives have stated that the funds from the sale will be used to pay down part of the group’s %1.5 billion debts, they also claim they are looking to revamp the other two casinos in Atlantic City. This statement has been met with some degree of disbelief by many in the industry as it has been widely known for some time that Trump has been looking to seriously reduce his exposure in the casino industry.
Is Donald Trump trying to bluff possible bidders for his other two casinos in the area and gain a better price?
05.27.2008 | 5:00 am | casinos
There are few industries in the world which are as competitive as the casino sector, with the online sector proving to be especially crowded, but are there now too many participants? Is the sector due a period of consolidation?
While in any other industry you might expect this to be true, following the traditional business sector cycle – new sector, more and more competitors, pricing pressure, consolidation – this may not be the case with the online casino sector. The truth is that many of the online casino sites use the same principals and the same software to manage their services. The broad margins “on the tables” are the same so the difference between the larger online companies and the smaller ones is just the level of activity.
If you are making a 2% margin on $1,000,000 turnover a year, you will bank $20,000 in profit, but if your turnover is $100,000,000 a year you will bank $2,000,000 a year in profit. While there are other issues such as marketing and promotional costs to take into account, the main element of any successful online casino is the number of customers and activity levels.
For this reason alone we may not see consolidation in the online sector hit the levels which you would normally expect, but we may see some of the smaller companies merge or the opportunists’ pickup some websites which are struggling and attempt to make better use of the traffic. The bottom line is that there is no need to spend big bucks on a competitor’s website operation when you could invest the money in marketing and promotional ideas for your own site – with short, medium and longer term benefits.
This is perhaps one of the main reasons why competition in the online sector has stayed so high, much to the benefit of the consumer.
05.26.2008 | 4:59 am | News, casinos
Over the last few years the casino sector has grown into a worldwide industry with exposure to many areas of the globe. The move to international status has also seen a large rise in the number of so called casino breaks, with areas such as Las Vegas, Macau and the like all attracting more than their fair share of travellers and tourists. However, as the worldwide airline industry comes under pressure we are seeing more and more flights cancelled, planes grounded and flight costs increase. Will this have an impact upon the casino sector?
While the slowdown in the worldwide economy will have an impact on all areas of business, there is the potential for the casino industry to suffer a double whammy, falling visitor numbers exaggerated by fewer travellers – but is it all doom and gloom?
In some ways the forecast reduction in tourist numbers to places such as Las Vegas and Macau may see more attention move towards the online betting sector (for those outside of the US). The chance to save money by playing online could see more and more “traditional” casino visitors check out the online market.
While there are many who claim that some areas of the gambling market are in some way insulated from the affects of a worldwide economic slowdown, it is more likely a case of gamblers checking out the online options rather than travel to their nearest casino or arrange a “casino” break. The beauty about the internet has always been the reduced overhead expenses for the companies involved and the availability for the consumer.
If the consumer can save money by playing online, rather than paying for a break or a night out, then there is every chance that more people could be heading towards the online arena. Times are tough, but the chance to save costs by playing online may benefit the online sector.
05.23.2008 | 7:28 am | Poker, News, Poker Stars, casinos, gambling
While the last few weeks of the Poker world have been dictated by the massive demand for seats at the forthcoming 2008 WSOP, it seems as though the feel good factor which this tournament brings is set to continue for some time yet. We have passed the qualification stage with the majority of tournament ‘free’ seats already taken and many players now looking forward to watching the tournament or playing, if one of the lucky ones.
However, we have seen a whole raft of new mini-tournaments announced over the last few days, the majority of which are playing at the same time as 2008 WSOP. Take up for these tournaments is expected to be high with recent activity reaching a year’s peak in the online Poker sector. While life has been tough for the last couple of years, for some reason the 2008 WSOP has attracted more than its fair share of attention.
It will be interesting to see if 2008 WSOP actually marks a change in the challenging environment of late and sees players’ new and old return to the ‘table’. If the increased promotion of the last few weeks continues and we get a follow through with numbers, many are hopeful that 2008 could be a turning point.
While there are few tournaments in the Poker calendar which can create as much interest as WSOP, there are few sporting events around the world which can create the impact it has. Since starting in the 1960s WSOP has been the pinnacle of the Poker world, the tournament they all want to win and the one which carries the most kudos.
Who will win this time? Who will come in from the shadows to make their mark?
We are not far away from the ‘big one’ and the whole Poker world seems primed for the action.
05.22.2008 | 11:41 am | Poker, News, Poker Stars, casinos
With less than two weeks to go before the start of 2008 WSOP the tension is starting to mount, people are starting to look at the players and the Poker tourists are making for Las Vegas. It seems that the whole Poker world stops while WSOP is on, but can it live up to the hype?
The reputation and profile of Poker has been on the increase for many years but nothing reflects the increase in Poker players more than WSOP. It began in the 1960s and while probably not recognisable from the earlier tournaments it still carries the same clout in the world of Poker, this is the one that they all want to win.
So who are the movers and shakers this year? Who will get the crowds on the edge of their seats?
A quick looks back at recent winners of the main event is like a who’s who of the Poker world featuring, Jerry Yang, Jamie Gold, Joe Hachem, Greg Raymer and Chris Moneymaker all names that stand a fighting chance of being successful again. However this is WSOP, an event which never quite goes to plan and has launched a number of relatively unknowns on the road to superstardom.
The beauty of WSOP is the fact that there are so many players who actually stand a fighting chance of winning the main event. There is so little between the top players and those on the next level down that it only take one of the unknown player to be on top form and they could make that break through.
It will be interesting to see who comes out of the shadows for this one, who makes the break from the crowd and who comes home with the biggest prize in world Poker and a reputation which will give them a licence to print money – at least for 12 months!
05.21.2008 | 2:35 am | News, casinos
After big wins in the Kentucky Derby and Preakness Stakes it was the turn of potential triple winning jockey Kent Desormeaux to relax earlier this week as he attended the opening of a Carson City casino. After the last couple of weeks can you blame Desormeaux for wanting to grab some of the headlines!
Desormeaux attended the opening of the new casino with Big Brown’s trainer Bob Baffert and jockeys Laffit Pincay, David Flores and Mike Smith. It was Mike Pegram, who is part owner of the new Bodines Casino and Restaurant, who invited the crowd to relax in the atmosphere of his new casino and also bring some of the press pack to his grand opening.
In just two weeks time Big Brown will be going for the last in the “big three” in the US horse racing calendar, the “Belmont” on 7th June. The horse is likely to go off will as the odds on favourite but can he pull of the big one? Can he become the first Triple Crown winner since Affirmed in 1978?
The horse racing crowds are willing him to go all of the way, the bookies are in for a real hiding if he pulls off the third in a row, but it won’t be easy. Superstardom awaits Big Brown if he can win at “Belmont” and Desormeaux should also do very well out of it!
It is refreshing to see a sports star attending a casino without concerns about gambling addictions, such as those we have seen in the press of late. Like so many of the public have found, it is possible to spend a great night in the casino, grab some food and a few drinks and have a leisurely play of the tables.
05.20.2008 | 2:33 am | News, casinos, gambling
The authorities in British Columbia are under pressure to get to the bottom of casino money laundering rumours after a convicted drug trafficker in Ontario pleaded guilty to “washing” his money from criminal activities through slot machines at one of the cities casinos. There are concerns that the strict regulations already in place are not being adhered to and others may have made use of the loop hole. So how does it work?
In basic terms money laundering is the process by which criminals “wash” there money through legitimate channels so that the money looks as though it has come from a legal source and the trail to the origins of the money cannot be back tracked.
It appears that by simply using his ill gotten gains to play the slot machines at one of the cities casinos the criminal was then able to request a cheque from the casino to cover his winnings. In affect he had transformed his funds from criminal activities into funds which looked as though they had come from a simple casino win.
He was then able to deposit the cheque into his bank account and nobody would ever know where it came from and no suspicions would be raised. If he had banked thousands of dollars in notes the bank authorities would have been alerted and obliged to ask where the funds actually came from.
There are now real concerns that unless casinos appreciate the law, which states they must report suspicious transactions over C$10,000, the criminal fraternity may well be able to use casinos to launder money in the future. The real problem for the casinos is the fact that they risk losing their licence just by failing to operate by the letter of the law and employees risk jail in a worst case scenario.
05.19.2008 | 4:33 pm | News, casinos, gambling
First he hit the headlines with an alleged debt of $400,000 to an LA casino, now he has hit the headlines for claiming, on live TV, that the debt has now been paid. So what is really going on in the weird and wonderful world of Charles Barkley?
If the claims are true, as they appear to be, Charles Barkley has been in debt to the tune of $400,000 since October last year when he took out four $100,000 chips at the Wynn Las Vegas casino. Despite a number of attempts to retrieve the debt the casino, and the law enforcement authorities, are adamant that the debt has not yet been repaid.
However, there does seem to have been a change in the tone and attitude of Charles Barkley of late. The cocky outbursts have gone, the wild claims that he can afford his gambling have not been repeated and he has actually claimed to have given up gambling. So what really is happening?
Observers are split as to whether Barkley is just using this latest episode to heighten his profile and bring in the big interview money, or whether he has actually turned over a new leaf. Remember, this is the man who has made a career out of so called “trash talk”, the man that says what he thinks and ignores the consequences, this is a man who really does know how to play the media.
Is the claim to have paid the debt another clever ploy, has he genuinely started action to cover the $400,000 in question or is he just playing the game?
Whatever you think about Charles Barkley there is one thing for sure, life around the great man is never dull. He has as many fans as enemies but whatever you think of the man, he really does know how to play to the crowds. Who else could turn a $400,000 debt to their advantage?
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