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Gambling News

PA, NJ See Uptick In Online Poker Championship Entries

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While we’re not out of the woods yet, states across the country are beginning to ease restrictions surrounding the coronavirus pandemic.

Some will soon allow select businesses to reopen, of course with capacity limitations and social distancing guidelines in place.

Online poker and online casinos have thrived during the shutdown, but major sports remain sidelined and casinos remain closed.

On that note, on to the Rewind:

Online poker tourneys crush in PA, NJ

We expected online poker to pick up steam as stay-at-home orders permeated the country. Perhaps no better example of this occured via PokerStars in Pennsylvania and New Jersey.

The inaugural Pennsylvania Spring Championship of Online Poker, featuring 50 distinct events, boasted prize pools totaling a whopping $3.2 million. Prior to the championship’s start, PokerStars dog-eared guarantees up to $2 million.

With more than 56,000 players and over 23,000 re-entries, PASCOOP finished with a total nearing 80,000 entries. The Main Event (High) carried a $200,000 guarantee, one that was easily topped as 1,315 entries pushed the prize pool to $368,200. The winner left with a cool $57,000.

Days later, the New Jersey Spring Championship of Online Poker, also hosted by PokerStars, posted similar figures.

Nearly $1.8 million was awarded in 96 events that featured over 33,000 entries, easily becoming the most successful tourney in the championship’s five-year history in the Garden State.

New Jersey’s Main Event itself included 620 entries that led to a $173,600 prize pool. The champ pocketed more than $30,000.

Michigan casinos struggling amid pandemic

It’s no secret that the nation’s retail gaming industry has suffered immensely since the coronavirus forced shutdowns. Michigan provides a microcosm of the struggle.

Bridge Magazine published a report detailing the continued closures of the state’s 23 tribal casinos, which have been shuttered since March 22 and will remain as such until at least May 15.

While other states have benefited from online gambling to at least maintain some sort of revenue stream, Michigan has land-based gaming only, for now. As such, the tail end of March and April concluded without a single legal wager made.

Without operational casinos, tribes are unable to fund services such as health, education and law enforcement, among other areas. Really, casinos provide a vast majority of funding for tribes.

For example, Bridge noted that as much as 60% of the budget for the Keweenaw Bay Indian Community stems from the Ojibwa Casino. Similarly, some 75% of the Saginaw Chippewa Indian Tribe is backed by gaming revenue.

The rest of the state certainly misses casinos, considering those properties have contributed more than $30 million to local governments and over $54 million to the state in 2019.

Some relief coming for smaller casinos

While the pandemic has made it difficult for businesses to stay afloat, the Small Business Administration recently updated its guidelines for Payroll Protection Program loans that exclude small US gambling businesses.

Translation: Smaller casinos could receive loans to pay wages, utilities and rent during the shutdown.

The update came as Congress funneled $310 billion to fund the program.

Initially, “small businesses” were defined as establishments with less than 500 employees, which makes them available to receive up to $10 million or 2 ½ months of payroll, whichever is less. The trouble, however, stemmed from the SBA classifying gambling businesses as risky and “of poor character,” thus preventing that industry from receiving aid.

Now, though, guidelines dictate that any business eligible for a loan is not be overlooked based on gambling-related income.

That said, those businesses must vie with many, many others in various industries to acquire such help. Some 30 million small businesses exist in the country, and the money released by Congress is enough for just 31,000 loans at the max payout.

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Gambling News

PA, NJ See Uptick In Online Poker Championship Entries

[ad_1]

While we’re not out of the woods yet, states across the country are beginning to ease restrictions surrounding the coronavirus pandemic.

Some will soon allow select businesses to reopen, of course with capacity limitations and social distancing guidelines in place.

Online poker and online casinos have thrived during the shutdown, but major sports remain sidelined and casinos remain closed.

On that note, on to the Rewind:

Online poker tourneys crush in PA, NJ

We expected online poker to pick up steam as stay-at-home orders permeated the country. Perhaps no better example of this occured via PokerStars in Pennsylvania and New Jersey.

The inaugural Pennsylvania Spring Championship of Online Poker, featuring 50 distinct events, boasted prize pools totaling a whopping $3.2 million. Prior to the championship’s start, PokerStars dog-eared guarantees up to $2 million.

With more than 56,000 players and over 23,000 re-entries, PASCOOP finished with a total nearing 80,000 entries. The Main Event (High) carried a $200,000 guarantee, one that was easily topped as 1,315 entries pushed the prize pool to $368,200. The winner left with a cool $57,000.

Days later, the New Jersey Spring Championship of Online Poker, also hosted by PokerStars, posted similar figures.

Nearly $1.8 million was awarded in 96 events that featured over 33,000 entries, easily becoming the most successful tourney in the championship’s five-year history in the Garden State.

New Jersey’s Main Event itself included 620 entries that led to a $173,600 prize pool. The champ pocketed more than $30,000.

Michigan casinos struggling amid pandemic

It’s no secret that the nation’s retail gaming industry has suffered immensely since the coronavirus forced shutdowns. Michigan provides a microcosm of the struggle.

Bridge Magazine published a report detailing the continued closures of the state’s 23 tribal casinos, which have been shuttered since March 22 and will remain as such until at least May 15.

While other states have benefited from online gambling to at least maintain some sort of revenue stream, Michigan has land-based gaming only, for now. As such, the tail end of March and April concluded without a single legal wager made.

Without operational casinos, tribes are unable to fund services such as health, education and law enforcement, among other areas. Really, casinos provide a vast majority of funding for tribes.

For example, Bridge noted that as much as 60% of the budget for the Keweenaw Bay Indian Community stems from the Ojibwa Casino. Similarly, some 75% of the Saginaw Chippewa Indian Tribe is backed by gaming revenue.

The rest of the state certainly misses casinos, considering those properties have contributed more than $30 million to local governments and over $54 million to the state in 2019.

Some relief coming for smaller casinos

While the pandemic has made it difficult for businesses to stay afloat, the Small Business Administration recently updated its guidelines for Payroll Protection Program loans that exclude small US gambling businesses.

Translation: Smaller casinos could receive loans to pay wages, utilities and rent during the shutdown.

The update came as Congress funneled $310 billion to fund the program.

Initially, “small businesses” were defined as establishments with less than 500 employees, which makes them available to receive up to $10 million or 2 ½ months of payroll, whichever is less. The trouble, however, stemmed from the SBA classifying gambling businesses as risky and “of poor character,” thus preventing that industry from receiving aid.

Now, though, guidelines dictate that any business eligible for a loan is not be overlooked based on gambling-related income.

That said, those businesses must vie with many, many others in various industries to acquire such help. Some 30 million small businesses exist in the country, and the money released by Congress is enough for just 31,000 loans at the max payout.

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Gambling News

Global Poker Home Series Awarding Largest Online Poker Prize Pool

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The largest purse in the history of Global Poker awaits this weekend.

On April 26, the sweepstakes-based online poker site wraps up its Global Poker Home Series with the biggest guarantee it has ever offered: a prize pool of SC500,000 during the SC540 Sunday Scrimmage.

Not a bad payday during a time of quarantine.

What is Global Poker?

Legalized online poker is limited to a select few states — Nevada, New Jersey, Pennsylvania and Delaware — but Global Poker provides an avenue for the vast majority of the country as well as Canada.

A social poker site that made its debut in 2016, Global Poker allows players to purchase Gold Coins and receive Sweeps Coins to compete in tournaments. Sweeps Coins are redeemable for cash.

Additionally, players can compete in various styles of poker, including Texas Hold’em and Omaha.

Global Poker has flourished since launching four years ago, building its base to more than 1 million registered players.

Win big in the Home Series

Over the past few events, Global Poker has handed out larger and larger prizes. For example, Gold Coin events have already paid out some GC120 million, and Sweeps Coin players have shared a whopping SC1.22 million.

Those totals will increase Sunday.

After shelling out the SC540 to buy into the tournament, players will have a crack at the largest prize pool in Global Poker history. Not only that, but winners will also receive Home Series trophies complete with their inscribed names.

Certainly, the event will draw ample participation. Consider last week, when the Sunday Teaser and Scrimmage events featured more than 1,100 players.

A bright spot after WSOP news

The poker world could use a strong weekend finish, especially after a rocky middle of the week.

The World Series of Poker announced it postponed the 51st installment of the Las Vegas event due to the coronavirus pandemic, which has caused mass casino closures across the country.

On the upside, the event is expected to return in fall 2020, dates of which Caesars Entertainment will announce at a later time.

Then again, not all news was bad: the WSOP online poker site remains operational for players in the aforementioned four states that regulate the game.

Online poker itself has seen an uptick in participation since the health scare began. So, too, have legalized online casinos. It only makes sense, really, when you consider the absence of sports and sports betting.

Fortunately for players needed to scratch a gambling itch, legal operators have stepped in to fill the void.

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Gambling News

The Unexpected Resurrection Of US Online Poker

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Olympic gold medalist Michael Phelps, Brazilian soccer star Neymar and legendary Australian cricket player Shane Warne live-stream a game of online poker.

This heavy-weight match, of course, is a dream scenario. It comes from the mind of Seth Palansky, vice president of corporate communications for Caesars Interactive Entertainment. Palanksy primarily deals with the World Series of Poker‘s (WSOP) land-based operations. But with recent events, his duties have shifted online.

Online poker hasn’t gone anywhere. It, along with online casino games, have merely vaulted to the front of the gambling activity list.

Due to the coronavirus pandemic, all 465 commercial casinos in the US have temporarily closed. All sporting events have gone on hiatus. Spectators around the world have dug deep into the gambling pit and taken to betting on sports like table tennis and Australian rules football.

In a way, one could argue the chaos has reignited the online poker discussion. (Last year’s WSOP tournament and the success of Pennsylvania online casinos are examples of recent conversations with a pro-online poker overlap.) But if it continues to be talked about in a post-COVID-19 gaming world, it is an entirely different conversation.

Pushing the online poker discussion forward

The central question is not whether legislation can be passed, because four states have done it. Instead, it’s getting lawmakers up to speed on how online poker operates.

“It comes down to the familiarity of government officials with sports, more so than poker. Obviously, they are involved in their communities, and they have their sports teams, and so it’s much more top of mind,” Palansky said in an interview.

This is true. Generally speaking, most state lawmakers are more familiar with their hometown team than the complexities of poker.

Following the demise of the Professional and Amateur Sports Protection Act (PASPA), states salivated at the opportunity of bringing sports betting to their residents. However, in the ensuing commotion, online poker was left behind.

A seasoned executive in the gaming industry, Palansky said his constituents have tried to help push online poker legislation forward with a federal framework and continue to lobby at the state level.

But he also said the current state of gaming might also be a catalyst for further discussion.

“I think something like what we are going to be going through here, not in just the short-term, but this [pandemic] is going to have long-term ramifications on the economy. Government entities are going to be looking for funds to help solve some of the issues that are being created as a result of where we are today,” he said.

Multi-state player pools in online poker

“With sports betting grinding to a halt and, of course, 100% of commercial casinos closed in the US, it’s a shame the states can’t be getting some tax revenue during these extremely difficult times from online poker,” Palansky said in an email.

Currently, only four states are operating online poker:

  • Delaware
  • Nevada
  • New Jersey
  • Pennsylvania

The tax revenue generated is incremental compared to sports betting and general land-based casino revenue. It resembles more of a Band-Aid and is in no way keeping the gambling industry afloat. But it does, however, provide funds at a time where every nickel and dime is needed.

But according to Palansky, a critical hurdle preventing legislation from moving forward in other states is the understanding that online poker relies heavily on the ability to offer multi-state player pools.

Much like any gambler, players are interested in risking as little as possible to win as much as possible. However, according to Palansky, if you only allow players to compete against those in their state, you limit the prize pool up for grabs.

“The reason daily fantasy sports can offer those big prize pools is because they are offering them across multiple states. If they had to restrict to a single state, the prize pools wouldn’t be compelling enough to get people to play,” he said. “Same problem in poker. So, getting all players in the same pool allows the offering to be much more robust, which creates interest, creates demand and enhances the offering.”

Currently, DE, NV and NJ are locked in what is called the Multi-State Internet Gaming Agreement (MSIGA). This accord allows for players from the aforementioned states to compete against each other. Pennsylvania, unfortunately, only allows its players to compete against other players within its borders.

It can’t only be about the money

“The most important piece to understand for online poker is the reliance on liquidity to make it work. Meaning, right now, we are locked in a tri-state poker shared market where residents in NJ, DE, NV are all playing with each other. We are able to segregate by where the participant is from and ensuring the tax revenue goes back to that state on where the participant is.”

Some government officials hunt for revenue to balance state budgets. Others seek jobs to bring to their state. But there are a few lawmakers who look for both.

There is a painful trickle-down effect from the closure of all commercial casinos: No casino guests, no gambling dollars, no tax revenue and, most importantly, no jobs. Due to casino industry shutdowns, the American Gaming Association (AGA) estimates roughly 649,000 casino employees are out of work.

When it comes to online poker, Palanksy said one of the toughest questions to answer revolves around job creation.

“A lot of it seems to be dependant on jobs, how many jobs can be brought to the state,” he said. “Lawmakers like to have customer service located in their state, accounting, essential personnel, et cetera, et cetera. When running an online business, it’s hard to have 50 different staffing offices in 50 different jurisdictions.”

But regardless, Palanksy says “any online business that can generate tax revenue and jobs should be something all elected leaders should take a good look at to see if it works for their constituents.”

Proving it works

It’s a tough task to convince lawmakers anything. Try explaining geolocation to someone who doesn’t use a smartphone. But Palansky knows the power of a working product.

“What I think what we’ve done is we proved anything that needs to be addressed is being addressed inside these three states. Any other state looking to get involved, it would be very turn-key and very simple and very safe. The protections are in place, the regulatory framework is in place,” Palanksy said.

“We made (online poker) meaningful in Nevada. Then replicated it in New Jersey. Then you work with (lawmakers) to show how the revenue base can grow with other states.”

Palansky said some states could argue they have enough liquidity to operate alone, but the reality is, almost all don’t (outside of California.)

“Poker is going to need the ability to be across state borders with the eventual hope of a worldwide pool that has significant revenue potential,” he said.

What’s on the horizon for online poker?

The latest state to legalize online gaming was Michigan, which is expected to debut sometime in 2021. In addition to online poker, the bill also legalizes online casino games, DFS and sports betting.

The Wolverine State’s plan to join the MSIGA is still up in the air.

“They are writing the bill, so we will see how that goes,” he said. “We think everyone should be able to run (online poker), but we understand states want to take a cautious approach. But we are willing to do what’s necessary to prove it works. But it’s frustrating to see how quickly sports betting came about.”

In recent months, the WSOP has seen player traffic increase by 54%. Whether that number continues to trend upward is unknown.

“It’s hard to predict, but we are putting together new series with $4 million in guarantees in April,” Palansky said. “That shows we are bullish and willing to stick our neck out and anticipate (that) the demand will be there. But it’s hard to know, obviously this is a recreational activity, and we are cautiously optimistic that people will have more time on their hands. After all, this is a recreational activity to take your mind off things but also be successful and win some money.”

As the sporting industry grapples with ways to stay active, maybe a WSOP tournament featuring Phelps, Neymar and Warne isn’t such a bad idea. The NBA has recently gone the video game route by announced a player only NBA2K tournament.

Perhaps bringing together some of the most decorated athletes in the world to play poker isn’t such a bad idea.

“Knowing each of them a little bit, what’s great for poker is the personalities around the table,” Palanksy said.

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A Rundown of Top Online Poker Events For The Weekend Of March 28

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As the world continues to fight back against coronavirus, social and physical distancing have taken effect. Folks have holed themselves up as a preventative measure.

In turn, the public has shifted attention to legal online casinos and online poker, and poker operators have introduced various events and tournaments.

Need to find a table this weekend? Look no further than these events happening online.

Where to play legal online poker

Only select states offer regulated real-money poker in the US: DelawareNevadaNew Jersey and Pennsylvania.

The likes of PokerStars and World Series of Poker (WSOP) are heavy-hitters in the online poker world. So, too, is Global Poker, which prides itself on the social gaming aspect.

PokerStars stands as the largest online poker operator in the world, offering a wide array of cash games and tournaments for players in New Jersey, Nevada and Pennsylvania. Those wanting to play on the WSOP site have the option of a shared liquidity pool among players from New Jersey, Nevada and Delaware.

Global Poker, meanwhile, allows players to buy Gold Coins for for ring games and tourneys.

PokerStars online poker events

A pleasant surprise of late has been the rising popularity of online poker in New Jersey and Pennsylvania.

Here is the schedule for players in Pennsylvania:

No Limit Texas Hold’em
Date: March 29, 6 p.m. ET
Buy-in: $30
Guaranteed prize pool: $15,000

No Limit Texas Hold’em
Date: March 29, 7 p.m. ET
Buy-in: $250
Prize pool: $20,000

The Big
Date: March 29, 7 p.m. ET
Buy-in: $20
Guaranteed prize pool: $10,000

Sunday Storm, No Limit Texas Hold’em
Date: March 29, 5 p.m. ET
Buy-in: $10
Guaranteed prize pool: $7,500

The Big
Date: March 29, 6 p.m. ET
Buy-in: $10
Guaranteed prize pool: $7,500

Bounty Builder, PKO
Date: March 29, 9 p.m. ET
Buy-in: $20
Guaranteed prize pool: $10,000

Sunday Supersonic
Date: March 29, 10 p.m.
Buy-in: $50
Guaranteed prize pool: $7,500

For those in New Jersey, here are the upcoming tournaments:

No Limit Texas Hold Em
Date: March 29, 4 p.m. ET
Buy-in: $50
Guaranteed prize pool: $10,000

No Limit Texas Hold Em
Date: March 29, 5 p.m. ET
Buy-in: $10
Guaranteed prize pool: $7,500

No Limit Texas Hold Em, deposit freeroll
Date: March 29, 6 p.m. ET
Buy-in: Ticket
Guaranteed prize pool: $1,000 added

No Limit Texas Hold Em
Date: March 29, 6 p.m. ET
Buy-in: $200
Guaranteed prize pool: $40,000

No Limit Texas Hold Em
Date: March 29, 7 p.m. ET
Buy-in: $500
Guaranteed prize pool: $10,000

8-Game
Date: March 29, 8:30 p.m. ET
Buy-in: $50
Guaranteed prize pool: $1,000

No Limit Texas Hold Em
Date: March 29, 10 p.m. ET
Buy-in: $75
Guaranteed prize pool: $5,000

And with several variations of Championship of Online Poker (COOP), PokerStars has helped spearhead the uptick of online poker.

The Spring Championship of Online Poker will be the first such event in PA and feature a whopping $2 million guarantee. New Jersey, meanwhile, expects to have a $1.2 million guarantee, representing a $200,000 increase from 2019.

Those tourneys are scheduled for April 4, allowing for enough practice time.

Complete schedules for both events are expected shortly.

WSOP.com online poker events

A premier event expects to be a monumental hit during this summer’s World Series of Poker. And one last qualifying event is left for players hoping to join those tables.

The $55 March Mayhem tournaments boast a $50,000 guarantee and a seat at the Big 50 table to the winner. Players have one final opportunity to earn that seat as March Mayhem wraps up March 29.

Take solace for non-winners, however: Those players who have entered at least two tourneys receive tickets to a Big 50 Seat Freeroll, which awards five seats at the Big 50 table.

Not to be outdone, WSOP.com is looking to make up for postponed and canceled events. As part of its Online Super Series, WSOP hands out 18 WSOP Circuit rings in 18 days. One of the primetime tables: a $525 Main Event with $200,000 guaranteed.

The series goes through March 31. Here’s a look at this weekend’s events:

  • Saturday, March 28: 7 p.m. ET, $320 buy-in, $75,000 guarantee
  • Sunday, March 29: 5 p.m. ET, $525 buy-in, $200,000 guarantee

To boot, players in Nevada and New Jersey have access to daily WSOP tournaments:

  • Daily, 4 p.m. ET, $215 buy-in, $10,000 guarantee
  • Daily, 11 p.m. ET, $30 buy-in, $10,000 guarantee
  • Wednesdays, 8:30 p.m. ET, $20,000 guarantee
  • Thursdays, 8:30 p.m. ET, $500 buy-in, $20,000 guarantee
  • Thursdays, 10 p.m. ET, $250 buy-in, $15,000 guarantee
  • Thursdays, 11:30 p.m. ET, $1,000 buy-in, $20,000 guarantee

Global Poker online poker events

Like WSOP, Global Poker continues to add to its tournament schedule to help meet the demand for online poker.

On top of five-figure guarantees during the week, Global Poker offers several high-profile payouts over the weekend, including:

  • Friday Flash: SC15,000 Guaranteed
  • Saturday Swift: SC15,000 Guaranteed
  • Sunday Six: SC15,000 Guaranteed

The site has also ramped up its daily offerings including its new “NightCap” series for night time players. Here’s a look at the complete slate of new dailies:

Throughout the night, too, Global Poker features a variety of events for night owls:

  • 6 p.m. ET, SC11 buy-in, SC6,000 guaranteed
  • 6:45 p.m. ET, SC55 buy-in, SC8,500 guarantee
  • 8:00 p.m. ET, SC5.50 buy-in, SC15,000 guarantee
  • 8:30 p.m. ET, SC33 buy-in, SC20,000 guarantee
  • 10 p.m. ET, SC55 buy-in, SC10,000 guarantee
  • 11 p.m. ET, SC11 buy-in, SC5,000 guarantee
  • Midnight ET, SC21.50 buy-in, SC3,000 guarantee
  • 12:30 a.m. ET, SC22 buy-in, SC2,000 guarantee
  • 1 a.m. ET, SC21.40 buy-in, SC2,000 guarantee
  • 1:30 a.m. ET, SC21.40 buy-in, SC1,500 guarantee

Finally, Global Poker strengthened its weekend schedule with the addition of a deepstack event featuring SC1,500 guarantee. Those tourneys begin each Sunday at 4:15 p.m. ET.

In addition, Global padded its Saturday schedule of events:

  • SC11 buy-in, 3 p.m. ET, SC3,000 guaranteed
  • SC22 buy-in, 4:15 p.m. ET, SC6,000 guaranteed
  • SC55 buy-in, 5:30 p.m. ET, SC12,000 guaranteed

Finally, several satellite tourneys will run earlier in the day each Saturday, awarding seats to the major events:

  • SC2.20 buy-in, 2:20 p.m. ET, 12 seats guaranteed
  • SC3.21 buy-in, 2:50 p.m. ET, 10 seats guaranteed
  • SC3.30 buy-in, 3:20 p.m. ET, 8 seats guaranteed
  • SC5.30 buy-in, 4:05 p.m. ET, 10 seats guaranteed

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A Rundown of Top Online Poker Events For The Weekend Of March 28

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As the world continues to fight back against coronavirus, social and physical distancing have taken effect. Folks have holed themselves up as a preventative measure.

In turn, the public has shifted attention to legal online casinos and online poker, and poker operators have introduced various events and tournaments.

Need to find a table this weekend? Look no further than these events happening online.

Where to play legal online poker

Only select states offer regulated real-money poker in the US: DelawareNevadaNew Jersey and Pennsylvania.

The likes of PokerStars and World Series of Poker (WSOP) are heavy-hitters in the online poker world. So, too, is Global Poker, which prides itself on the social gaming aspect.

PokerStars stands as the largest online poker operator in the world, offering a wide array of cash games and tournaments for players in New Jersey, Nevada and Pennsylvania. Those wanting to play on the WSOP site have the option of a shared liquidity pool among players from New Jersey, Nevada and Delaware.

Global Poker, meanwhile, allows players to buy Gold Coins for for ring games and tourneys.

PokerStars online poker events

A pleasant surprise of late has been the rising popularity of online poker in New Jersey and Pennsylvania.

Here is the schedule for players in Pennsylvania:

No Limit Texas Hold’em
Date: March 29, 6 p.m. ET
Buy-in: $30
Guaranteed prize pool: $15,000

No Limit Texas Hold’em
Date: March 29, 7 p.m. ET
Buy-in: $250
Prize pool: $20,000

The Big
Date: March 29, 7 p.m. ET
Buy-in: $20
Guaranteed prize pool: $10,000

Sunday Storm, No Limit Texas Hold’em
Date: March 29, 5 p.m. ET
Buy-in: $10
Guaranteed prize pool: $7,500

The Big
Date: March 29, 6 p.m. ET
Buy-in: $10
Guaranteed prize pool: $7,500

Bounty Builder, PKO
Date: March 29, 9 p.m. ET
Buy-in: $20
Guaranteed prize pool: $10,000

Sunday Supersonic
Date: March 29, 10 p.m.
Buy-in: $50
Guaranteed prize pool: $7,500

For those in New Jersey, here are the upcoming tournaments:

No Limit Texas Hold Em
Date: March 29, 4 p.m. ET
Buy-in: $50
Guaranteed prize pool: $10,000

No Limit Texas Hold Em
Date: March 29, 5 p.m. ET
Buy-in: $10
Guaranteed prize pool: $7,500

No Limit Texas Hold Em, deposit freeroll
Date: March 29, 6 p.m. ET
Buy-in: Ticket
Guaranteed prize pool: $1,000 added

No Limit Texas Hold Em
Date: March 29, 6 p.m. ET
Buy-in: $200
Guaranteed prize pool: $40,000

No Limit Texas Hold Em
Date: March 29, 7 p.m. ET
Buy-in: $500
Guaranteed prize pool: $10,000

8-Game
Date: March 29, 8:30 p.m. ET
Buy-in: $50
Guaranteed prize pool: $1,000

No Limit Texas Hold Em
Date: March 29, 10 p.m. ET
Buy-in: $75
Guaranteed prize pool: $5,000

And with several variations of Championship of Online Poker (COOP), PokerStars has helped spearhead the uptick of online poker.

The Spring Championship of Online Poker will be the first such event in PA and feature a whopping $2 million guarantee. New Jersey, meanwhile, expects to have a $1.2 million guarantee, representing a $200,000 increase from 2019.

Those tourneys are scheduled for April 4, allowing for enough practice time.

Complete schedules for both events are expected shortly.

WSOP.com online poker events

A premier event expects to be a monumental hit during this summer’s World Series of Poker. And one last qualifying event is left for players hoping to join those tables.

The $55 March Mayhem tournaments boast a $50,000 guarantee and a seat at the Big 50 table to the winner. Players have one final opportunity to earn that seat as March Mayhem wraps up March 29.

Take solace for non-winners, however: Those players who have entered at least two tourneys receive tickets to a Big 50 Seat Freeroll, which awards five seats at the Big 50 table.

Not to be outdone, WSOP.com is looking to make up for postponed and canceled events. As part of its Online Super Series, WSOP hands out 18 WSOP Circuit rings in 18 days. One of the primetime tables: a $525 Main Event with $200,000 guaranteed.

The series goes through March 31. Here’s a look at this weekend’s events:

  • Saturday, March 28: 7 p.m. ET, $320 buy-in, $75,000 guarantee
  • Sunday, March 29: 5 p.m. ET, $525 buy-in, $200,000 guarantee

To boot, players in Nevada and New Jersey have access to daily WSOP tournaments:

  • Daily, 4 p.m. ET, $215 buy-in, $10,000 guarantee
  • Daily, 11 p.m. ET, $30 buy-in, $10,000 guarantee
  • Wednesdays, 8:30 p.m. ET, $20,000 guarantee
  • Thursdays, 8:30 p.m. ET, $500 buy-in, $20,000 guarantee
  • Thursdays, 10 p.m. ET, $250 buy-in, $15,000 guarantee
  • Thursdays, 11:30 p.m. ET, $1,000 buy-in, $20,000 guarantee

Global Poker online poker events

Like WSOP, Global Poker continues to add to its tournament schedule to help meet the demand for online poker.

On top of five-figure guarantees during the week, Global Poker offers several high-profile payouts over the weekend, including:

  • Friday Flash: SC15,000 Guaranteed
  • Saturday Swift: SC15,000 Guaranteed
  • Sunday Six: SC15,000 Guaranteed

The site has also ramped up its daily offerings including its new “NightCap” series for night time players. Here’s a look at the complete slate of new dailies:

Throughout the night, too, Global Poker features a variety of events for night owls:

  • 6 p.m. ET, SC11 buy-in, SC6,000 guaranteed
  • 6:45 p.m. ET, SC55 buy-in, SC8,500 guarantee
  • 8:00 p.m. ET, SC5.50 buy-in, SC15,000 guarantee
  • 8:30 p.m. ET, SC33 buy-in, SC20,000 guarantee
  • 10 p.m. ET, SC55 buy-in, SC10,000 guarantee
  • 11 p.m. ET, SC11 buy-in, SC5,000 guarantee
  • Midnight ET, SC21.50 buy-in, SC3,000 guarantee
  • 12:30 a.m. ET, SC22 buy-in, SC2,000 guarantee
  • 1 a.m. ET, SC21.40 buy-in, SC2,000 guarantee
  • 1:30 a.m. ET, SC21.40 buy-in, SC1,500 guarantee

Finally, Global Poker strengthened its weekend schedule with the addition of a deepstack event featuring SC1,500 guarantee. Those tourneys begin each Sunday at 4:15 p.m. ET.

In addition, Global padded its Saturday schedule of events:

  • SC11 buy-in, 3 p.m. ET, SC3,000 guaranteed
  • SC22 buy-in, 4:15 p.m. ET, SC6,000 guaranteed
  • SC55 buy-in, 5:30 p.m. ET, SC12,000 guaranteed

Finally, several satellite tourneys will run earlier in the day each Saturday, awarding seats to the major events:

  • SC2.20 buy-in, 2:20 p.m. ET, 12 seats guaranteed
  • SC3.21 buy-in, 2:50 p.m. ET, 10 seats guaranteed
  • SC3.30 buy-in, 3:20 p.m. ET, 8 seats guaranteed
  • SC5.30 buy-in, 4:05 p.m. ET, 10 seats guaranteed

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Sports Betting

Professional Poker Player Transition to Sports Betting – Where's the + EV in Horse Racing Systems?

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EV or Expected Value is a widely used term in poker terminology to determine if the outcome of a play is +, 0 or – in terms of profitability. This article is aimed for Poker Players who also like to punt on UK and Irish horse racing. It never ceases to amaze me how many good poker players are terrible at betting on horse racing. If they can spend so much time on their poker game then why not also put in the effort when placing a bet to ensure that you have the most + EV decision that you can possibly make with all the information at hand. The title of the post is actually a small bit misleading as I personally believe that all horse racing systems are doomed and the way to consistently profit at betting on horse racing is to have a horse racing method not a system.

The following article will lay the ground work for anyone who wants to start taking their punting to the next level. There is no better satisfaction then spending an hour or two analysing a race and 1 horse just stands head and shoulders above the rest when you compare all the different factors that I will explain below. Of course the toughest part is having the discipline to only wait for when these such occasions occur when placing a bet, and some times, this may mean you do not bet for up to a month. (This may help explain why I moved into playing poker from sports betting as the results of your actions are known instantaneously, and you can play a game anytime of any day). I also think you can compare a MTT player to a professional sports bettor – you can go long periods without a win and then score a few big results and then rinse and repeat and hopefully over the course of the year you will have been profitable.

1. You must specialize. All the most profitable professional sports bettors pick not only 1 sport but only a small niche in that sport. Patrick Veitch, who has won over 10 million punting on horse racing in the UK only bets on UK flat racing. He even has a massive team of researchers who do a lot of the work for him, but he as he also works 18 hours days during the flat season he is naturally burnt out by the end of the season.

For the beginner though, what I mean by specialize is concentrate on an area of ​​horse racing where you can get the most information. Information is power so unless you own a shed load of 2 year old horses or are the nephew of Aidan O Brein, there is no point in specializing in 2 year old horse races as you just wont have enough information to go on. Therefore it makes more sense to specialize on handicap races, where each horse in the race must of least have run 3 times to qualify but mainly are run by the same horses year in, year out until they are retired.

The best races then to specialize in are 4 year old plus handicaps in flat and national hunt racing as you have the most information available and you can start to see patterns in horses and therefore pick out some very + EV selections when you have spotted this pattern and the majority of the racing public haven't. This is the bread and butter of successful punting, going against the crowd.

Personally I used to specialize in 4 year old plus UK flat handicaps in the summer, and UK and Irish National Hunt handicap chases and hurdles in the Winter.

2. In your specialized area, when you select a race to analyze, you must go through every horse in the race to develop a shortlist. Below are my 5 essential criteria that every horse must have when you are placing a bet.

a) Going – The horse must be proven on going conditions.

b) Distance – The horse must be proven on the trip

c) Course Type – The horse must be proven on similar type of course

d) Fitness – The horse must have shown that it can operate at optimal levels since its last number of days off the track.

e) Class – The horse must have either won at the class he is currently competing in before or else gave a very good showing in a previous race at the similar or higher class level.

Going and Distance

With regard to going and distance and to a lesser extent course type, I will not fully discount a horse who has never raced on the going if he has extremely good sire stats (15% + strike rate) however I would always give precedence to another horse in a race who has won on for example soft going compared to a horse who has never raced on soft but has sire stats of 18% strike rate for soft going conditions.

With distance, I would also use sire stats if a horse is moving up or down in trip by 1 furlong on the flat, and 2 furlongs in national hunt. With experience, you can tell by looking at a race if a horses needs the extra trip or not and the sire stats can be a great way to back up that visual piece of information.

Course Type

This often overlooked by the general racing public. The best thing about UK and Irish racing is the different types of race courses you will encounter. Cheltenham (left-handed, galloping, undulating and testing track with stiff fences) is totally different to Stratford (left Handed, flat & Sharp) as it is to Sandown (right-handed, galloping, testing track)

A horse who has won twice in Cheltenham will probably never win a race at Stratford and vice versa. Bigger sized horses are more suited to galloping tracks as they can take the turns easier and can maintain a strong galloping pace for longer whereas a smaller sized horse is better suited to sharp tracks (ie less than 10 furlongs) as most of the running will be going around bends and therefore the bigger horses will not be able to maintain their top galloping speed for long on the stretches.

Also some horses can only run to their best at left handed courses and vice versa. You would actually wonder why trainers persist to run horses which clearly will not win on a certain turning race track, but then you realise by doing this, they will get their official rating down as horse will appear to be trying but will be hanging left or right the whole way through. You have to be aware that trainers will be trying to manipulate the handicapper a lot of the times in the lower grade races by running horses on unsuitable ground, at the wrong distance, on the wrong course type, or running the horse with a different style During the race all to try and reduce their rating so that they can set up a better chance for themselves to win in the future at a decent price.

I love Cheltenham race meet in March for the simple fact, the course is a stiff testing course which straight away rules out a lot of other horses in the race as they just cant handle it, the grade of racing and pirze money on offer means that everyone is trying to win, and you can nearly always guarantee what the going will be. Therefore if you just use the criteria above and select horses who are proven on the 5 factors (and this applies to the non handicap graded races too, you will see huge profits)

Fitness

To determine a horses fitness, you must look at its previous patterns of how it performed when it returns after a certain number of days off the track. The beauty of handicap races is you have loads of past information to go on and you can see if a horse is 0-5 when returning after an 80 day lay off, whereas he is 3-2-5 when he returns between 15 and 30 days.

Class

A horses class is often overlooked by the racing public. Statistically horses who are moving up in grade / class do not have a good strike rate, however the public will back it blindly if it sees it has won by 5 lengths in its previous race in a lower grade. Analyze past races to see if a horse has won or come close in the grade of race it is racing in today. You can discount a horse if it has failed 2 times at the grade when having all other conditions to suit except for when it is running for a new stable which has a good record at rejuvenating horses.

Also keep in mind that a horse who has placed in a black type race (ie grade, 1,2,3) will have a more class than a horse who has a good winning record in Class 2 (B) handicaps, so if it It is racing in a Class 2 handicap for the first time, do not discount just because it has never won a race.

3. Once you have created your shortlist based on the above criteria, you can now get down to the real dirty work of finding the eventual winner. Sometimes you might only be left with 1 horse, sometimes with 8, you must then start applying other filters to see if you can narrow down the list more. Sometimes the odds will allow to dutch 3 horses left if you can not narrow it down anymore. Then go for it as it is a plus EV move.

However be aware that every time you discount you must have a very valid reason backed up by a decent sample size. Here's a list of filters to reduce the shortlist.

Weight

Some horses as stated earlier have a bigger frame then others, therefore having top weight doesn't make much difference to them, whereas the smaller horse will struggle. Again by studying previous races you will spot a pattern

OR

This is the official rating that the horse racing board's in house handicapper assigns to a horse to determine what weight it should carry in its next horse race. The OR is updated weekly, therefore you sometimes see trainers turn out a horse 3 times in a week to try and take advantage of this before the handicapper reassigns it a higher rating. For an excellent explanation of official hores racing handicapping see this article written by good friend Malcolm Smith over at www.UKhorseracing.co.uk .

After a while, horses will reach their peak and start to hover around a certain OR mark. Therefore it will be unlikely that it will win if its OR mark is higher than its highest winning mark unless the horse is an improving progressive sort. But for older horses, this OR mark becomes more important and can be more relied upon.

Field Size

Some horses will not race unless they are covered in the pack, other horses need room otherwise they get into trouble during the race. The trick is to identify these type of horses. You will start to spot where some horses only win in races with less than 8 runners, but never figure in races with more than 12. You can safely assume that he needs the perfect ride in a big runner race but more than likely will not get that (This is when you can factor in the Jockeys ability to see if its OK to rule out this horse or not) The field size matters more in National Hunt, as some horses prefer seeing the jumps early / later and as they are pack animals prefer chasing a leader than actually leading

Seasonal

A lot of horses prefer to run in certain times of the year. This could be down to how a trainer prepares the horse over the course of the season and aims it to be at full fitness come March time for example, but other times horses just perform better in certain months. Again by looking at past patterns you will begin to spot these trends.

Trainer Statistics

8 years ago it was a very profitable trend to follow certain trainers at certain race tracks for certain race types. This edge has slowly eroded since the markets have caught on, however it still needs to be factored in when trying to finalize your short list.

Trainer – Jockey combinations

If you try and follow this blindly by backing winning Trainer-Jockey Combos, you will most likely end up with a loss. However it is a good tool to have when you are trying to reduce the shortlist as some stats are just too good to ignore.

Jockey Booking

This is actually a powerful indicator. However this again does not mean much if the horse does first qualify for the 5 essential criteria above. Also if you only ever back horses with the top jockeys on board you are forgoing on EV as, the odds will drop on a horse with the likes of Ruby Walsh or Tony McCoy on board, but odds will still remain good on a horse if for example the jockey booking was Graham Lee, who is a very underrated performer. Look back over past races and see how the horse has performed under their guidance before. You will start to see profitable trends and indicators.

Gambling Stables

There are a few ways to do this. One is manually record stables where horses have been heavily backed and won. Another way is to look at a horses previous wins and see what the average odds were. The lower the winning odds, the bigger chance that the stable money only goes down when the horse has a good chance of winning (Kevin Ryan is an example of a gambling stable). The higher the odds, means the horse has won races that they weren't fully expecting to win and therefore less likely a gambling stable (Veneita Williams comes to mind here for being an honest stable).

Post Race Comments

This is often overlooked. If you see what trainers, jockeys and owners have said to the press after a horse has won (See the racing post website for all the comments), you can pick up some useful information which can help you lean one way or the other on a selection.

Pace of the race.

To understand the pace of the race you first need to figure out what is each horse's preferred running style. They can be broken down into front runners, prominent runners, Hold up horses. Here's is a fantastic article which details the breakdown of winning% of different horses running styles compared to the actual number of race entries of horses with different running styles.

It shows that you should really be concentrating on front running and prominent horses as it accounts for 65% of winners compared to being only 50% of entries in races. Front runners in particular account for 20% of winners even though they only supply 11% of runners in a race.

You can use this to your advantage once you get to know all of the different course types. By backing a front running horse that satisfies the 5 essential criteria on a race course which has a sharp track with a short run in, you have added a few% EV points to your selection.

Another factor here is analyzing the previous 3 races the horse has ran in and check out the in running comments. Especially look at the horses who came placed or came outside the top 4 but were close near the end. Keep and eye out for comments like "finished strongly", "kept on well", "stayed on well", "kept on final furlong" and for other tidbits like "hampered" but then "finished strongly". These can point towards a horse who is on the upward curve and given the perfect conditions in the next race will have a very good chance of winning.

Another thing to factor in is if a race does not have any natural front runners, then the race will not be run at a true pace, therefore could throw up some very unusual results. It may mean that the horse who has the best speed on a flat track will win when it drives all out in the last furlong.

When the pace of the race is guaranteed, the classier horse which satisfies the essential criteria will more often than not win the race.

4. Resources

For 6 years, before getting lured into the world of Online Poker, I punted successfully on horse racing and I used the following resources

Ratings from ukhorseracing.co.uk.

The ratings are based upon advanced pure mathematics but are presented in a an easy to read pdf. The main feature in my view that sets this service apart from a lot of pretenders is the 'Class' filter they derive using their mathematical approach. Fantastically accurate for Non Handicap graded races in both National Hunt and Flat racing in the both UK and Irish racing. They also have a great forum where you can exchange ideas with the other members and have recently introduced a Racing Bot where you plug in all your profitable racing systems and sit back and watch.

Stats and ratings from ukracestats.com

I only found this website 4 years into my sports betting career, and it was free for nearly 2 years after that. It is without doubt the biggest time saving tool when it comes to analysing a race using all the criteria and filters I have mentioned above in the article. The only negative is that they only cover UK horse racing.

Racing Post Website- Last year they introduced a subscription service and I suppose it was about time considering all the information that it provides. It is essential for anyone serious about racing. I used it to confirm my findings from the ratings and stats mentioned above.

At The Races Website – Good for watching previous races and offers different race analysis from the Racing Post. As far as I know this is still free.

I hope that after reading the above that you will now not just throw money blindly at the favorite when you have a punt on the horses. Put a bit of time and effort into the selection process and give yourself a + EV chance of winning.

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Source by Paul Redfern

Gambling News

WSOP Poker Plans, Plus MI Betting Nears While NJ Revenue Booms

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The holidays: A time for merriment, for joy, for celebration.

A time to give and to give thanks. A time known for miracles and Kodak moments.

Make no mistake about it, the same elements that you find in every Christmas movie ever made also apply to US gambling news these days.

There is no day off, it seems. The machine is always in motion. And this holiday season, uplifting news abounds.

Legal Michigan sports betting is a small step away

Merry Christmas, Wolverines. It appears sports betting is a mere signature away from legalization.

The bill to do such, allowing Michigan to regulate retail and online wagering, breezed through the Senate by a 35-3 vote. With the House of Representatives expected to agree with any changes made, only the mighty pen of Gov. Gretchen Whitmer separates the state from legalized sports betting.

As reported by Legal Sports Report, the governor is expected to sign the legislation in short order.

As the bill is written, Michigan’s three commercial and 23 tribal casinos would have the opportunity to offer betting. Each operator, though, will be afforded just one online skin.

Licensing fees include $50,000 for the initial application, $100,000 for the actual license, and then a $50,000 annual renewal fee.

Much of the state’s taxed revenue (a rate of 8.4% that increases by 1.25% for commercial casinos) will benefit Michigan’s School Aid Fund. To boot, some $2 million will go toward the First Responder Presumed Coverage Fund each year.

The state will require official league data for in-play wagers. Overshadowed by all of this: Daily fantasy sports also becomes legal.

WSOP hints at future relationship with Pennsylvania

I mean, the World Series of Poker didn’t not confirm that it has no future in Pennsylvania.

Each winter, the WSOP announces dates and plans for the following year. Among them, as announced by WSOP parent company Caesars, is the summer poker series, slated for May 26 through July 15. The headlining tournament, aka the $10,000 buy-in Main Event, goes from July 1 to July 14 in Las Vegas.

The interesting takeaway, though, was not about what was announced, rather what wasn’t announced.

Just after Halloween, PokerStars debuted the first legal online poker platform in Pennsylvania. With such a large state and market, it was assumed the PA would enter the WSOP future planning. Alas, the poker group did not mention Pennsylvania in 2020. That said, as tracked down by PlayPennsylvania, not all is lost.

A WSOP spokesperson noted that the company does not comment on markets in which WSOP is not licensed and operational. Harrah’s Philadelphia has its licensing but has yet to launch online poker. Time still remains for PA inclusion.

Remember, this past year’s online bracelet schedule emerged as late as February 2019.

New Jersey sports betting kills to tune of half a billion

Somehow, New Jersey sports betting continues to find ways to grow.

With still a month left of 2019 to account for, the Garden State has eclipsed more than $4 billion in accepted wagers this year. But no month in the young history of the industry matched up to November.

With still-rising powers FanDuel Sportsbook and DraftKings Sportsbook again leading the charge, New Jersey operators accepted a whopping $562.6 million in bets last month. Of that record-breaking total, some 86% of wagers came online.

For perspective, the previous state record for a single month stood at $488 million (set the previous month); and Nevada took in more than $581 million in November 2018.

It has been no secret that New Jersey has been the standard-setter in this new world of state-sanctioned sports betting. Yet somehow, the state continues to find ways to impress.

Aside from the jaw-dropping revenue numbers, consider these past 12 months, during which time New Jersey went from eight online sportsbooks to 17 mobile platforms.

On top of it all, there is little chance New Jersey doesn’t set another record in the near future. After all, Super Bowl LIV is less than two months away.

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