No, this isn't about my cowardice at the tables. It is about the future of online poker. If you read Bill Rini as I asked in the last blog, you came across his look at the future. Not often I get to use puissant but here it comes. Bill's older post was a puissant look at the future of online poker.
Any legalization of online gaming will come with a regulatory body who will determine who can and cannot offer gaming to US citizens. One of the big assumptions at the moment is that because Party Poker paid a fine that they are clean. Actually, part of the settlement was an admission of guilt. That admission may come back to haunt them if companies like Harrah’s lobby for licensing requirements that state that any company allowed to offer gaming cannot have illegally offered gaming previously. It’s a perfectly logical requirement and one that many people would agree with so I don’t think it would be too difficult for a land based casino to attempt to get it inserted into any licensing requirements.
The online poker press has been getting giddy over the prospects and pining their hopes on a gay, New England liberal. It wasn't the obvious choice but he has the committee chairmanship to pull it off. We all look at that as the cure all to online poker. But, there is a good possibility we're being slow played.
First off. It fits the Harrahs mindset regarding gambling/poker. Their first look is always at the bottom line and maximizing it. They like the WSOP not only for the rake but for its captive nature. They will perform song and dances galore to maintain the brand. Beyond that...
Next, you have to consider the government involvement. You saw the AON and car guys pounding their foreheads before the mighty intellect of a house committee. You see the politicians also erode rights, right and left, and that in their creation of a new and politically correct world. The UIGEA drove poker into the shadows. The ones we see and have access to are outside our control or any control. That will change and the skill set moves from the online entrepreneurs to the corporate law guys with help from their PAC of choice. It is like you or I being Hold'em players and taking that skill set. to the Badugi table. You go from shark to minnow and end up scrambling.
What is worse than being drawn out on repeatedly? “I'm from the government and I'm here to help.”
The miracle of the $18.45 bankroll on FullTilt came to an end the other day. I am busto there. It was a miracle that I managed to keep that active through thousands of hands using total ignorance of bankroll management. Se la vie.
I also took everything off of Ultimate bet except (accidentally) $4.45. With Stars making me a non-person, that it for cash games at the moment. I have to now wait 30-days after the withdrawal to be able to deposit and get bonus.
I am playing .05-.10 and showing a profit. A couple of years back they sent Felicia and me a free ten-spot at the same time. We competed to build a bankroll from that. She won. But, I grew the roll nicely right up to the point of tilting over the micro world and donk that away too. We'll see. I won't play a lot of hours but I'm – so far at least – remaining patient.