Posts Tagged ‘poker bankroll’

The Full Tilt closure

Sunday, July 3rd, 2011

So it seems that things will get worse before that get better in online poker in the USA and elsewhere.

The actions started by the DOJ and FBI two and a half months ago have had an unexpected ripple effect this week when Full Tilt Poker totally shut down. Not just in the USA (where they were closed since April 15th), but all over the world. Indeed the indictments led to Full Tilt’s gambling authority to start their own investigation.

The Alderney Gambling Control Commission is the regulatory body that granted Full Tilt Poker their gaming license. The AGCC regulates all egaming activities for companies operating in Alderney and attempts to comply to the highest international standards of fairness and integrity. Alderney is one of the Channel Islands and part of the British Crown. Similarly to the Isle of Man (that regulates Pokerstars), Alderney has the ability to attract gambling operators while regulating them.

But the similarity with Pokerstars stops there. Unlike Pokerstars which was announced to be following their gambling rules and which had their license maintained, Full Tilt just got their license revoked. This is an unprecedented event that led to millions of non-American players left enable to play online poker there, and worse to dispose of their bankroll. And this sad situation is not expected to evolve fast. The main reason for this negative audit seems to be that Full Tilt had not been able to send their balance back to their American players more than two months after Black Friday. But PokerStars had done so long time ago.

So things apparently are getting worse before they can get better. Hopefully the positive outcome of this entire situation is that online gaming will get better regulated internationally. This is good for everyone. Players will be treated more fairly. Government will be able to raise taxes. Operators will be be better regulated so that the bad apples will be discarded and this business gets the respect it deserves. This will lead to better products on the market.

France is probably one of the leading markets when it comes to regulating their online gambling vendors. The USA is now actively working on their own amended regulation. Other countries will follow as well.

Milkybarkid needs stake

Friday, September 17th, 2010

English PLO specialist Ben ‘The Milkybarkid’ Grundy may not be a household name on the professional circuit, but he boasts one of the most astounding Pokertracker graphs.

Grundy, whose blonde, youthful looks earned him the nickname ‘Milkybarkid’, has made over $7 million online.

poker profit

poker profit

Considering PLO’s volatile nature, his win rate is remarkable. Although in a summer update on his blog, Grundy laments a recent downswing and a loss over 300,000 Pokertracker hands.

He cites money being tied up in several houses as the reason for needing a bankroll to play $100/$200 on Full Tilt Poker. Grundy has a solid live tournament pedigree, having come 3rd in the 2009 WSOP, $2.5k PLO/Hold’em event for $100k. Other career highlights include a 7th place finish at the 2005 EPT Monte Carlo main event for $105k. In total he has amassed over $500k in live tournament winnings.

A few users on twoplustwo are questioning the validity of Grundy’s online results, arguing his 13.5 BB/100 win rate seems too good to be true. Much of the $3.4 million he won online during 2008 was on European sites, including Betfair Poker.

Cynics are questioning the reason for a stake given his alleged success. Two respected voices on the forum, Daliman and Jungleman (who is set to face Dwan in the next ‘durrrr’ challenge), have also voiced their doubts. Grundy claims to have suffered two $500k downswings, yet his graph only alludes to swings of $200-$250k. Moreover, why does he need to be staked for $200/$400 when he can crush the $25/$50 games so comprehensively? A defiant Ben responded by swearing on the life of his family his graph is real, and challenging anyone to bet $25k against him.

His $7 million in online winnings should not be considered a liquid bankroll, as Grundy was reportedly staked by badbeat.com in the past, and used some of the money for cars and property.

Grundy’s graph may be a thing of beauty, but the skepticism voiced in twoplustwo will make it difficult for him to find a stake.