Black Friday: Eight months on
Former PokerStars VIP manager Scott Yeates examines the major incidents since Black Friday and looks at what might happen next.
The online poker boom started in 2003. Three years later US Congress passed the Unlawful Internet Gambling Enforcement Act, which “prohibits gambling businesses from knowingly accepting payments in connection with the participation of another person in a bet or wager that involves the use of the internet and that is unlawful under any federal or state law”.
Then, on 15 April 2011, Black Friday took on a whole new meaning for poker players around the world, as the United States Justice Department (DoJ) unsealed an indictment on several high ranking individuals connected to three poker sites still operating in the United States.
Eight months after Black Friday where are we today?
“¢ Most people expected the World Series of Poker to be hit hard by Black Friday as the sites affected had been expected to satellite in more than 2,000 people to the US$10,000 main event alone. But it had the opposite effect with main event attendance up this year with a strong showing of foreign-born players, demonstrating that poker is now a worldwide game.
“¢ PokerStars cashed out all of its US players and celebrated 10 years in business this month with a major promotion.
“¢ Full Tilt Poker is effectively obsolete under its current ownership with all of its players accounts frozen. There is a glimmer of hope for players however with customers still expected to be paid by a new owner once an agreement is made with the DoJ. In my opinion, US players will be paid, but rest of the world players may need to play on the new Full Tilt Poker to earn their money back.
“¢ Blanca Games of Antigua, Ultimate Bet and Absolute Poker’s parent company, announced plans to pursue the liquidation of its assets.
What’s next for the US? There are a few options in my view:
What seems likely is that regulated US online poker will open in 2012 for citizens of specific states for players aged 21 years or older. I’m guessing there will be no more than 50-100 sites/skins competing for players in different states, while it is likely that Vegas casinos will push for full online casinos within a year of online poker being regulated.
The fact that Vegas casinos and others are gearing up for regulated US online poker makes me believe a bill is in the works for 2012. The push is demonstrated by deals such as Fertitta Interactive buying CyberArts and bwin.party signing deals with MGM and Boyd Gaming.
About the author:
After playing poker for several years both offline & online, Scott Yeates “switched sides” in 2005 and started developing the PokerStars VIP Program, where he was well known under the handle ‘VIPScottY’. He now works as head of poker and consulting services for Hybrid Interaction. You can follow Scott on twitter @VIPScottY