The imminent death of UB.com (UltimateBet) and Absolute Poker

The imminent death of UB.com (UltimateBet) and Absolute Poker
Once upon a time, four frat boys from Montana, with the father (Phil Tom) of one of those frat boys (Scott Tom) as an investor, started up an online poker site in Aruba. After a merger with another site in Costa Rica...

Who is Madeira Fjord?

A company declares bankruptcy, is it the parent of UB.com and Absolute Poker?

UB/AP parent company (?) files for bankruptcy

US players with funds on deposit with poker sites UB.com and Absolute Poker (the Cereus network) are facing bad news today as Madeira Fjord declares bankruptcy. If you're wondering who Madeira Fjord is, you are not alone. Last fall, the Cereus network was sold by Tokwiro Enterprises to Blanca Gaming. What is the relationship between Madeira Fjord and Blanca Gaming? Good question.

Why the indicted poker sites will not return to the US market

Whether or not we want to admit it, the indicted poker sites skirted the law in places.  Unless the DOJ allows a settlement without an admission of guilt, the indicted sites will not be returning to the US.

Why the indicted poker sites will not return to the US market

The bottom line is that these sites, while providing and protecting their customers with a poker room of the highest possible integrity, conducted their back-office business dealings without regard for the Bank Secrecy Act of 1970, or the Anti-Money Laundering laws included in the Patriot Act of 2001. The DOJ in its press releases has made it clear that these companies are no longer welcome in the US. And just as we cannot have a convicted felon voted into public office, the US will not allow a convicted fraudster access to US banks.

My opinion, and others', on the Black Friday charges

Online poker: the charges and argumentsLet's say that you and I decide to flip coins. Every time it lands on heads, you pay me $1. Every time it lands on tails, I pay you $1.25. While we are both gambling, you should expect to make a profit in the long run. Now let's say for integrity's sake, we hire a third person to do the flipping, at 5 cents a throw. This third person has no interest in the outcome. He's just there to make sure nobody cheats, that the game is played by the rules, the results are judged accurately, and that the victor is paid his winnings. Is this third person gambling? Is this third person operating an illegal gambling business? Well, that's the question the courts will ultimately have to answer...

UB.com and Absolute Poker follow Pokerstars' lead

The third-largest poker network suspends real-money games and withdrawals for US players.

UB suspends real money games in the US
Five days ago, on Friday, April 15, the US Attorney for the Southern District of New York charged 11 online poker executives with crimes including: conspiracy to violate the UIGEA, violation of the UIGEA, operation of an illegal gambling business, conspiracy to commit bank fraud and wire fraud, and money laundering conspiracy. Later that same day, online poker giants PokerStars and Full Tilt Poker suspended real money games and tournaments for all US players.

Absolute Poker suspends real money games in the US
Today, Absolute Poker has followed their lead and suspended real money cash games and tournaments in the US. The message at the left is displayed to US players who connect to the Absolute Poker poker client.

Speculation on the future of online poker

The future of online poker in the USLast night I visited the Hard Rock poker room in Catoosa. When I arrived, there were two tables of $1/$2 NLHE running, and I was first on the wait list (tip: always call ahead and put yourself on the list). The evening tournament still had two tables going, and players busting out were added to the list. As it worked out, before a seat could open up, they spread a new table. This turned out to be the liveliest table I'd been a part of since high school, when eight cards were wild and five aces won every pot. In this case, the first eight hands saw five all-ins called. As a Limit Hold'em specialist, I am rarely witness to that much action when a game has just started and players have full stacks...