Daniel Negreanu is back with a 'Lederer Files' rant

Daniel Negreanu is back with a 'Lederer Files' rant
Daniel Negreanu, poker's most popular and outspoken personality, has released his first "rant" video since the World Series of Poker, and this one is by far his best yet. This time Daniel focuses his attention on Howard Lederer's interviews with Poker News and Two Plus Two podcasters. Drawing from sources across the pokernet, he analyzes the story as told by Lederer, pulling in snippets from many other podcasts and articles by poker journalists and bloggers, including former Full Tilt Poker employees.

Howard Lederer a no-show for Diamond Flush interview

Howard Lederer a no-show for Diamond Flush interview
Howard Lederer, the former president and board member of Full Tilt Poker, has backed out of a promised interview with DiamonFlushPoker.com, stating the "whole interview process has been 'much harder on [he] and his family than he expected.'"

TwoPlusTwo interviews Howard Lederer

TwoPlusTwo interviews Howard LedererThe folks over at TwoPlusTwo.com sat down with Howard Lederer for an extended interview with the beleaguered former owner of Full Tilt Poker...

Howard Lederer ends his silence about Full Tilt Poker

Howard Lederer ends his silence about Full Tilt Poker
On September 8, 2012, Howard Lederer sat down with Matthew Parvis of PokerNews for a marathon 7-hour interview. Originally intended to be published as one or more print articles, Lederer agreed to an on-camera interview "so nothing would be lost in translation."

Pokerstars settles with DOJ, announces purchase of Full Tilt Poker

Pokerstars settles with DOJ, announces purchase of Full Tilt Poker
Press releases from both Pokerstars and the Manhattan U.S. Attorney for the Southern District of New York confirm a deal has been struck to settle the Money Laundering and Forfeiture Complaint against Pokerstars. Included in the deal are terms ensuring the repayment of funds to former Full Tilt customers worldwide. In addition, the settlement allows Pokerstars to return to the U.S. market once a regulatory framework is established at either the state or federal level.

Could a judicial review void the UIGEA?

Could a judicial review void the UIGEA?
Including term definitions, the UIGEA is a mere 11 pages in length--and yet few beyond its sponsors had even read it when it was signed by President Bush. While it has been challenged by many experts in the media, it has never been challenged in court. All of the defendants thus far adjudicated have taken the route of plea agreements, which circumvents the judicial review process...

Judge Kaplan displeased with SunFirst vice chairman John Campos plea agreement

Judge Kaplan displeased with SunFirst vice chairman John Campos plea agreement
Poker news highlights from March 2012, published March 29th, included a report regarding John Campos, former vice-chairman and part-owner of SunFirst Bank. His trial was to begin April 9. Instead, Mr. Campos reached an agreement with the DOJ to plead guilty to a single misdemeanor charge to settle the case. Without the agreement, Mr. Campos would be facing six felony charges. At the time of that report, the plea had not yet been presented to the judge...

Poker news highlights for March 2012

Poker news highlights for March 2012
Ever since Black Friday (April 15) last year, poker news has been a somewhat depressing experience for the players. In the last week, though, a few things have happened worth noting.

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...

Latest developments surrounding Full Tilt Poker

After all the reassurances, Full Tilt turned out to be a flimsy house of cards.

Latest developments surrounding Full Tilt Poker
On November 17, 2011, it was widely reported in both the poker media and to a lesser extent the mainstream media that the Groupe Bernard Tapie and the DOJ-SDNY had reached an agreement regarding the purchase of Full Tilt Poker. Essentially, the agreement consists of the following terms...

Notable quote

"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."--Thomas Jefferson

Stars roll cashed out...

Still disappointed and sad that things have come to this. Happy to be getting my funds. Still angry to be unable to grind online.
M

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...

Interesting video on PPA's YouTube channel

Local and Online reactions to Black Friday

I take a look at poker community reactions to Black Friday, both locally and online.

The online poker community is in turmoil
Two days after the announcement from the US Attorney of the SDNY, the poker community is still reeling. Full Tilt and Pokerstars, the two largest online poker sites in the US, have suspended both real money play and cash withdrawals for US account holders. No official statement has been made yet from Absolute Poker or UB.com (both operating on the Cereus network), the third largest US-facing poker site...

In Tulsa, it's poker business as usual
With the pullout of PokerStars and Full Tilt from the US market, US players are left with few choices--none of them particularly attractive. UB.com (now doing business as UBPoker.eu) is still allowing US players to sit and play at their real money tables, but cashouts are restricted--so what's the point? While I don't have the Absolute Poker (now doing business from AbsolutePoker.eu) software installed to verify personally, I presume AP is conducting its operations in the same manner as UB, since they share both ownership and management. Other online poker choices include Bodog, Doyle's Room, Sportsbook Poker, Players Only, Lock Poker, Everest Poker, and a slew of smaller sites I'd never heard of before...

Pokerstars and Full Tilt suspend US real-money play, withdrawals

Naturally, in response to the DOJ's indictment, they're suspending US operations.

PokerStars suspends real money poker for US players
Less than twenty-four hours after the United States Attorney of the Southern District of New York unsealed its indictments for 11 online poker executives, PokerStars has suspended its "real money poker services" to US players. CardPlayer.com reports that Full Tilt will soon follow suit. The press release from the US Attorney's Office of the SDNY regarding the indictments can be read here...

Full Tilt Poker suspends US players from real money games
As reported by CardPlayer and other news media, Full Tilt Poker has suspended US players from access to real money games and tournaments. In anticipation of the FBI's seizure of the FullTiltPoker.com domain, operations have been moved to FullTiltPoker.co.uk...

Full Tilt restricts US players from withdrawing funds
US players with real money accounts at Full Tilt "will temporarily be restricted from withdrawing" funds. Account holders are directed to contact support@fultiltpoker.co.uk with any questions...

Black Friday -- online poker indictments?

It's all over the web. 11 online poker executives indicted. Two arrested so far. Too sad for words.

http://latimesblogs.latimes.com/money_co/2011/04/three-largest-online-poker-sites-indicted-and-shut-down-by-fbi.html

http://money.cnn.com/rssclick/2011/04/15/news/economy/online_poker_indictments/?section=money_latest

http://www.marketwatch.com/story/founders-of-top-poker-web-sites-indicted-2011-04-15?link=MW_latest_news

http://www.google.com/hostednews/afp/article/ALeqM5hxQXSRuLjxYniiKqet38bKwBV18w?docId=CNG.0d9a23b647ebc53de077adf8cd2bb6a0.541