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Saturday, November 15, 2008

All Fighters Make Weight For UFC 91

Thursday, November 13, 2008

College dropout proves a great Dane at poker table


Buzz Up PrintLAS VEGAS (AP)—A 22-year-old college dropout from Denmark won the World Series of Poker and its $9.15 million prize, then spent the night partying with friends at a suite reserved for this city’s biggest gamblers.

And why not? He’s one of them.

Peter Eastgate became the tournament’s youngest champion early Tuesday, making a wheel straight and eliminating his final opponent, 27-year-old semiprofessional card player Ivan Demidov. Demidov held two pair, twos and fours, when Eastgate called his all-in bet.

Phil Hellmuth, perhaps poker’s most famous ambassador, was 24 in 1989 when he won the first of his 11 tournament titles.

Eastgate hit poker’s jackpot about 2 1/2 years after he started playing no-limit Texas Hold ‘em from high school friends in Denmark. He said he tried college for a week, but got into poker and found out he was good enough to make a living as a pro. He started at the lowest stakes and worked up to build a sizable bankroll.

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Eastgate now wants to take a long vacation with his family before examining his options, although a life of scholarship might not be one of them.

“I’m not necessarily going back to college, but I will look for more opportunities to become a more wise person,” he told The Associated Press.

After capturing the tournament and the gold bracelet that goes to the winner, Eastgate celebrated with some two dozen friends and family at the Rio All-Suite Hotel & Casino in a room that’s usually the territory of A-list celebrity guests.

Eastgate had said he would have been happy with a top-five finish, but he thought he had a chance to win it all after eliminating a few players from the final table.

“My motivation was $9 million and a bracelet,” Eastgate said.

Eastgate eliminated five players, including Demidov, at the final table.

“He was playing me very aggressively so I was kind of looking to kind of trap him,” Eastgate said. “It worked out in different spots.”

Nine players met Sunday to settle the title after taking a nearly four-month break to build hype for the tournament. The final table emerged from a field of 6,844 players that had been cut to nine over 11 days in July.

Demidov did not exactly leave a pauper. He took home more than $5.8 million for second place.

“I’m someone who’s not going to cry,” he said. “I’m disappointed, but I’m going to be happy. That’s the way it turned out.”

Eastgate had to collect all the chips in play—nearly 137 million—to win the tournament. The chips had no monetary value and each player started the tournament in July with 20,000 each.

Both players were deliberate early on. As Eastgate distanced himself, it became apparent that Demidov would need to double his stack in a less-than-favorable spot to keep his bets powerful enough to challenge.

“I learned that I need to improve my hands-on game,” Demidov said.

Demidov completed a tournament run that included final table finishes at the series’ main events in Europe and the United States. He intends to play in more high-stakes live tournaments and hopes his performances will help poker grow in Russia.

“A few years ago it was mostly U.S. players,” Demidov said. “Now you see more European, South American and Asian players. Poker is growing in the world.”

Eastgate said Hellmuth called him before the finish to wish him luck.

“It feels good to beat Phil’s record,” Eastgate said after taking pictures with stacks of $100 bills and his new gold bracelet. “I was not focused on the record that I could break. I was just focused on the game.”

US Treasury, Federal Reserve Publish UIGEA Rules

Haley Hintze
In a highly controversial move pushed through in the waning days of the Bush administration, officials at the US Treasury and the Federal Reserve today formally published rules and procedures as called for by the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA).

The regulations, set to go into effect on Jan. 19, 2009, one day before President-elect Barack Obama will take the oath of office, call in general for a "due diligence" approach in blocking the flow of funds from would-be gamblers to online sites. Poker, as expected, was not granted any form of exemption under the rules, despite the urgings of a few dozen poker players as the rules were being drafted. Banks, payment processors and other affected institutions are expected to comply with the measure by December 1, 2009.

The dense, 66-page document consists of exacting language that is open to multiple interpretations, as evidenced by the first 50 pages being explanatory definitions before the publishing of the rule itself. One example is a parsing of the difference between games "subject to chance" and "predominantly subject to chance," as part of the argument put forth by Treasury as to why poker and other skill games are, in the eyes of the government, expected to be covered by the law. Previously noted exemptions for horseracing and fantasy-sports leagues remained intact.

While the body of the rule's publication is still being worked through by industry experts, a few points were clear at first read. Among those signature points:

• Blocking of transactions under the UIGEA will be attempted in one direction only, that of prospective players to online sites. Payments – such as cashing out from a site – back to customers will not be blocked. The differentiation is an effort to choke off the profitability for sites who attempt to take in player funds.

• "Unlawful Internet gambling" remains undefined under the statute as published; instead, the law defers to the existing morass of state and other laws defining gambling. Of perhaps greater importance is that by doing so, the rule attempts to transform Internet-based gambling into a "states rights" issue, in a manner similar to the ongoing attempt by the Commonwealth of Kentucky to seize Internet domains it believes competes with its signature horseracing industry. As defined in the published rules: "The Agencies believe that the Act's restrictions apply only to transactions that are unlawful under applicable U.S. Federal or State law. The Act's definition of 'unlawful Internet gambling' clearly states that it refers to a bet or wager that 'is unlawful under any applicable Federal or State law in the State or Tribal land in which the bet or wager is initiated, received, or otherwise made.'"

• The published rules significantly revised upward the financial estimates for implementing the rules, despite rewriting some portions of the rules in a way to eliminate many smaller banking and payment-processing entities. Costs for initial implementation now are estimated at a million man-hours and $88 million, with maintenance quickly jumping that total over $100 million.

• Payment-processing services such as Western Union will receive an exemption for payments made from their physical offices; the rules as published instead vall for the blocking of payments made over the Internet through such services.

Calls from officials such as Rep. Barney Frank (D-MA) to avoid formalizing the UIGEA regulations were summarily ignored with the publication. In fact, one passage in the rules openly defied the claims made by Frank and others that the rules as published place too much pressure and unfunded responsibility on an already stressed financial system, by stating, in effect, that savings to credit-card companies on gambling-related chargebacks more than offsets the expense. "This funds flow interdiction," according to the explanation, "is designed not only to inhibit the accumulation of consumer debt but also to reduce debt collection problems for insured depository institutions and the consumer credit industry. Treasury believes that the reduction of debt collection problems through the final rule's funds flow interdiction process will yield important benefits for insured depository institutions and consumers given the recent turmoil in the financial markets that is causing liquidity problems for insured depository institutions and constraining the availability of consumer credit." The Treasury also cited "other benefits," declaring that "the final rule could restrict excesses related to unlawful Internet gambling by underage or compulsive gamblers."

Reaction to the rules' publication was widespread, with hundreds of news outlets picking up the story in the first couple of hours following the document's appearance on the US Treasury site. US Rep. Shelley Berkley (D-NV), an outspoken critic of the UIGEA since its inception, was quoted by the Las Vegas Sun as follows: "These rules place an unfair burden on banks and other businesses that will now be forced to play the role of law enforcement. Instead of making the situation better, these regulations will only create chaos, huge headaches and high costs for all those involved. I am appalled that at a time when our nation faces the worst economic crisis we have seen in 70 years, President Bush remains obsessed with a regulation that will only harm the financial services sector."

The Washington, DC-based Poker Player's Alliance also issued a statement condemning the rules' finalization, but gave no indication as to future plans. According to PPA Chairman Alfonse D'Amato, "The PPA remains optimistic that the new Administration and the new Congress will recognize the failures of UIGEA and will act swiftly in the New Year to overturn this flawed policy."

Tuesday, November 11, 2008

Eastgate is the World Series of Poker Champ

Buzz Up PrintLAS VEGAS (AP)—A 22-year-old Danish poker professional won the World Series of Poker early Tuesday, turning a wheel straight on the last hand to become the youngest champion in the history of the no-limit Texas Hold ‘em main event.

Peter Eastgate hit an ace-to-five straight on the turn and instantly called an all-in bet from Ivan Demidov on the river to win the title and $9,152,416. Demidov held two pair, twos and fours.

The previous youngest champion was 11-time gold bracelet winner Phil Hellmuth, who was 24 when he won the tournament in 1989.

“It feels good to beat Phil’s record,” Eastgate said after taking pictures with stacks of $100 bills and his new gold bracelet. “I was not focused on the record that I could break, I was just focused on the game.”

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Eastgate said he got a call from Hellmuth wishing him luck before the more than three-hour session.

Eastgate built a 7-to-1 chip advantage before the decisive hand by sniffing out two bluffs by Demidov for big pots.

Eastgate, of Odense, Denmark, put Demidov on his heels by stopping the 27-year-old from bluffing a pot worth roughly 44 million chips with an ace high. Eastgate called with a diamond flush.

He won a significant pot four hands later with a full house and immediately began putting pressure on the final opponent standing between him and the title.

“My motivation was $9 million and a bracelet,” Eastgate said. “That’s what kept me focused.”

Demidov, a 27-year-old semiprofessional poker player from Moscow, took home $5,809,595 for second place, some $3.3 million less than Eastgate.

“I’m someone who’s not going to cry,” Demidov said. “I’m disappointed, but I’m going to be happy. That’s the way it turned out.”

Demidov erased Eastgate’s initial 24 million chip advantage in their quest for the gold bracelet in less than 30 minutes to start the night.

But Eastgate regained his chips and then some by the first break in play— taking a 35.8 million chip lead after hitting two pair, aces and queens.

Eastgate took a nearly 2-to-1 chip advantage after calling a 7 million chip river bet with a pair of jacks. A queen was on the board, but Demidov turned over an ace high. The call indicated that Eastgate sensed his hand was good despite the large bet and plenty of cards that could have beaten him.

“He was playing me very aggressively so I was kind of looking to kind of trap him,” said Eastgate, who said he felt Demidov was not helped in the hand by the river queen. “It worked out in different spots.”

Eastgate had to collect all the chips in play—some 137 million—to win the tournament. Chips have no monetary value and each player started the no-limit Texas Hold ‘em tournament in July with 20,000 chips.

The players were deliberate in their decisions, not rushing to shove their chips in the middle early on. As Eastgate distanced himself from Demidov, it became apparent that Demidov would need to double his stack to keep his options unhindered.

“I learned that I need to improve my hands-on game,” Demidov said.

Demidov’s finish concluded a dream tournament run that included final table finishes at the series’ main events in Europe and the United States. The Russian said he hoped his performances would help poker grow in his native country, and said he planned to play in more high-stakes live tournaments.

“A few years ago it was mostly U.S. players,” Demidov said. “Now you see more European, South American and Asian players. Poker is growing in the world.”

Eastgate eliminated five players, including Demidov, at the final table to take the title. The nine players met Sunday at the Rio All-Suite Hotel & Casino in Las Vegas to settle the title after taking a 117-day break to build hype for the tournament.

Eastgate started fourth in chips on Sunday with 19.7 million chips, more than 4 million away from Dennis Phillips, the chip leader at the time. Phillips finished in third and won $4,517,773.

The final grouping emerged from a field of 6,844 players that whittled down to nine over 11 days in July.

Monday, November 10, 2008

FAMOUS PEOPLE IN GAMBLING

Gambling is a recreational activity prevalent in society today. Young and old alike, people are getting hooked to what today’s society calls as the game of the lucky ones.

Generally, gambling refers to any form of activities that involves taking the risk of betting the money or any kind of tangible items of value, which sometimes depend on chance or the skill of somebody to manipulate the game.

Since its inception, the profitability that gambling can offer to an individual is endless. That is why gambling had continuously dominated the world of chances.

However, even if gambling like blackjack, poker, and slot machines are so popular these days, people still don’t have any idea how it started and who started it.

Here’s a list of the people who, in some way or another, contributed to the development of gambling.

1. The first ever slot machine, known as the Liberty Bell, was invented by Charles Fey in 1985. Fey was a car mechanic in San Francisco when he thought of inventing the Liberty Bell.

The first form of slot machine was made of three spinning wheels that had three featured shapes: spades, diamonds, and hearts plus a “cracked” Liberty Bell drawn at each reel.

It was on 1907 when an arcade-like machine maker based in Chicago had thought of reproducing machines similar to that of Fey’s. The manufacturer was named Henry Stephen Mills. The machine was called Operator Bell.

It was from this point that the slot machines have evolved until today’s form.

2. In card games such as blackjack, nobody can ever tell how the game started and who started it. This is because nobody tried to record it for the purpose of history.

However, there were people who conceptualized the basic strategy for playing blackjack.

It was in 1958 when Cantey, McDermott, Maisel and Baldwin had devised a strategy that caused such commotion with both the statisticians and the gamblers themselves.

These four people have created the basic strategy in playing the game all using their hand calculators. After which, they created a book known as “Winning Blackjack,” which is now considered as one of the most valuable strategies in playing blackjack.

In turn, this gave birth to what modern gambling now calls as the “card counting techniques.” These are the people who have made the gambling world truly a phenomenon. Though, there are people who do not accept them as great inventors because of the negative effects of gambling in the society today. Nevertheless, they have contributed a lot in gambling.

POKER TIPS !

Poker is a very popular card game, where players with either fully or partially hidden cards bet into a central "pot." To the player having the best card combination, the accumulated bet in the pot is then handed over.

Before the dealing of the cards, one or more players, depending on the rule, is required to place an initial bet unto the pot. After which, the cards are dealt, face down. Thus the beginning of the game.

Strategy should be developed so that one will learn who plays fair or who the sharper player is. By defining them, one can easily deal with them. Carefully study each players move so you will prevent loss in your cards.

Poker is a game of strategy. Even with bad set of cards, a good poker player still has a high chance of winning. Here are some tips: *Hand strength. Any hand that is less than a pair should be folded at the earliest opportunity that comes. Don't wait that other cards will remedy the situation, because they will not.

*Display a poker face. This makes the other players wary of your cards. Your expression will let your opponents know how good or how bad are your cards. A point to remember, never project any clue to them, if you will, then make certain that if you do have bad cards, pretend you have otherwise.

Do bear in mind that bluffing will not work if you are a poor player. Meaning players who over estimate the force of their hand. Also, if a player bluffs repeatedly or regularly, expert players will eventually sense their style and would now know if they are bluffing or not.

*Never be afraid to fold. One threatening aspect in poker is placing your bet. As to how much or how little one should bet, feel the game. As you go along, you will then be knowledgeable and know when to bet and when to fold. A rule to keep in mind is, don't expect later cards will improve your situation if you have nothing in your hand. Be free to fold as frequently as needed.

*Control. Bet wisely. This means betting with your head. Bet only within your means. You can not gain fortunes in poker, so stay within your limits.

*No alcohol. As alcohol makes one bolder and daring, it is wise to avoid it at poker time. You might find yourself betting more in not so good cards. Avoid alcohol especially when the stakes are high.

It is important for one to devote a lot of time for the development of your own strategy. The more you play the game, the longer that you are exposed to it, you could then have your own secrets to winning the game.

Raking it in at video poker

Fact, of all the hands dealt only 21% are winning hands. The rest, which is 79%, are losers. The difference between a winner and a loser is what he does with 79% of the hands dealt so that it becomes a winner.

To increase the chance of making money at video poker is to understand, embrace and promise loyalty to these video poker tips.

Find a machine that pays 9 for a full house win and six for a flush win.

If you want to play on a progressive machine that pays 8 for a full house win and 5 for a flush win, be sure that the nickel machine pays a jackpot of $250 or better, the quarter machine pays $2,500 or better or $10,000 on a dollar video poker machine To collect on the royal flush bonus for a progressive machine, be sure to bet the maximum number of coins Play on the machine with the lowest denomination if you are a new player. Wait until you get better before playing on the higher domination video poker.

Use slot card to get credit for playing, if the casino offers one. First ask the point equivalent for each dollar played. Then learn what those earned points are worth.

Take time to read every hand you get. Remember you’re not playing against another person, it will not intimidate you for playing too slowly.

Players don't recognize that the jack is the most important card in the deck, not the Ace. A Jack gives you a lot more lucrative hands than an ace.

The variety of video poker you can play is almost endless, but all have their own payables that need specific strategies. The best way to start learning is to limit your choices to two.

Improve your game by playing on a computer or a portable video poker game. If you train this way, you get to test your skills with zero risk.

Here are playing tips: 1. Don’t ever hold a kicker with your pair. This reduces your payoff by 5% 2. Don’t draw four cards, if you can get a royal flush drawing three.

3. Always stay on a winning five-card hand except when drawing a royal flush with one card.

4. Never break a flush to draw a straight flush even with one draw.

5. Always break your flush to draw a royal flush.

6. Don’t break your straight to draw for a straight flush.

7. Don’t draw five, if you’re holding Jacks or better.

8. Never leave a ten on a four card draw.