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Friday, May 22, 2015

Poker's Black Friday

Updated 2/11/2017

April 15th, 2011. Poker's Black Friday.
Fortunately I only play for real money in live games and I didn't have much real money online, back in the day. I've never really trusted online poker since Neteller stole what little real money I had put into the online games. I eventually got it back, as I expect most of the players will this time also. It will be interesting to see how the online poker millionaires recover from having their money frozen in time. Since the DOJ closed down the four major online poker sites, Pokerstars, Full Tilt, Absolute Poker and Ultimate Bet Poker, most of the blogs from the pros are about how slow the games are in Vegas. 30 hands an hour is ultra slow motion poker to an online poker junky.

Game play is down at all of the online poker sites world wide. There are still some sites that accept US players in real money games, but that may not last long. All of them still allow play money games, so that has not changed.  Online poker is still a great way to develop and improve your game. If aggression is king, online poker is your kingdom. Online poker will not be going completely away anytime soon. It has changed for now, but it will change again, and most likely for the better. One article likened it to the collapse of the stock market and 401k pension plans deflating.

There has been some speculation about online poker being totally dead in the US - forever - and most of the play will go to the brick and mortar games. Even though the DOJ has stated that the money in players accounts is accessible to the players, there are no payment processors in the US banking system. American poker players are hitting the casinos and card rooms, however most of the casinos and card rooms have had only a slight increase in activity.

I actually expect this to be a good thing for poker in the US, in the long run. I think that the regular casinos, card rooms, and Indian casinos will find a way to establish online poker for the US. Uncle Sam only wants to find a way to collect taxes from it and regulate it better.

I've never been acceptable to not being able to walk into a place of business and complete your transaction or make a complaint in person. You could never do that with an online site, you don't know who runs it or how to find them, yet alone talk to them.

I think you should be able to go the a local casino or card room and open an online account without using the internet, which would be a much easier process. You could then just go down to the casino or card room and make deposits or withdrawals, just like a bank, and still play poker online in your PJs. PokerStars and the rest of them may never be back, but new sites will find a way in. Only when I know the physical address of an online poker site will I likely go back to online poker.

Steely Dan Black Friday


I NEVER BLUFF