April 24, 2011 |
I got dealt some pretty bad hands in the last few days by forces far out of my control. I awoke April 15 to find that the feds had indicted 11 executives on multiple felony charges, including bank fraud and money laundering, at the three top sites in America's online poker market and seized their Web domains. If you logged on to Absolute Poker, Full Tilt Poker or PokerStars, you got to look at the shiny logo of the FBI. I like to play the 50-cent minimum, no-limit game on Full Tilt, and that's what I saw that Friday instead of direct access to the $216.
February 22, 2013 |
Already home to a major gaming industry, Nevada is preparing to take its expertise online after officials rapidly approved a law to become the first state in the nation to authorize what could become one of the most lucrative gambling markets still to be tapped. At the bill signing held in the same Capitol room where lawmakers legalized gambling some 80 years ago, Nevada Gov. Brian Sandoval formally put his signature to the law Thursday. By quickly moving the bill through the Legislature, Nevada gets ahead of rival New Jersey in the race to win the first slot in the online poker business, where billions of dollars are being wagered domestically and tens of billions of dollars are bet from around the world.
March 26, 2011 |
The often stop-and-go efforts to legalize online poker in the United States gained some steam in Nevada this week, as state lawmakers began considering legislation on the issue, a casino company joined the world's top online poker website in a push for federal action, and gambling regulators for the first time approved a plan by the world's largest casino company to offer online wagering overseas. On Thursday, Nevada gambling regulators approved a business relationship between Caesars Entertainment Corp.
April 20, 2011
Who wants to bet that the recent federal crackdown on Internet poker sites won't stop Americans from playing poker online for money? Federal agents seized the websites of three of the world's most popular online poker companies Friday, indicted 11 of their executives and associates, and filed a lawsuit seeking at least $3 billion in penalties. It was the most extensive enforcement action taken by the government since Congress enacted a law in 2006 to prohibit banks, credit-card companies and others in the financial industry from processing online gambling transactions.
April 19, 2011 |
Bradley Franzen, one of 11 executives charged in a crackdown against the three largest online poker sites open to U.S. players, has pleaded not guilty. Franzen, 41 and from Illinois, was released on $200,000 in bail after turning himself in to the FBI on Monday in New York. The 11 executives — three of whom were the respective founders of PokerStars, Full Tilt Poker and Absolute Poker — were charged Friday with bank fraud, money laundering and violating gambling laws. The government also sought to recover $3 billion from the companies.
April 21, 2011 |
Two online poker sites shut down by the federal government last week have been permitted to start up again, but only to help players get their money back, authorities said. Full Tilt Poker and PokerStars regained access to their domain names after striking agreements with the U.S. attorney's office for the Southern District of New York, which Friday accused founders of the sites of bank and wire fraud, money laundering and illegal gambling. The agreements prohibit the sites from allowing patrons in the U.S. to play for money on the venues.