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Poker Industry PRO: Leo Margets: Winamax to be “Key Player” in European Market

The French operator’s new Spanish ambassador said that a launch in Spain was “imminent,” but she could reveal no more details.

Winamax’s new Ambassador, Leo Margets, sees Winamax as becoming a key competitor in the European online poker market, as it readies for expansion into her native Spain to build a cross-border shared liquidity network.

Margets, formerly a sponsored pro of PokerStars, was announced as the latest to join the team pro ranks at French market leader Winamax last week, alongside Portugal’s João Vieria.

Read the full article on pokerfuse →

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Global Poker Madness Boasts Site’s Biggest Tournament Guarantee of SC$200,000

This year, the madness is going beyond the basketball court and landing squarely on Global Poker.

Global Poker, the “social poker site” open to U.S. and Canadian players, is at it again by launching its most exciting promotion to date.

Global Poker Madness

Global Poker recently announced its latest promotion, Global Poker Madness.

Global Poker Madness is a series of satellites running through March, leading to the largest guaranteed tournament Global Poker has ever offered.

The SC$540 buy-in Nuts Main Event boasts a guaranteed prize pool of SC$200,000, which can be cashed out through PayPal as real cash prizes.

Opening freeroll

The madness gets underway with a SC$2,500 Opening Freeroll on March 4 at 2:05 p.m. (EST).

The top 335 finishers will receive an entry into one of the Madness stages. The player finishing in first place will collect a tournament ticket to the Nuts Main Event valued at SC$540.

Other top finishers in the freeroll will earn a satellite tournament ticket according to the following schedule:

1st: Madness Main Event Entry valued at SC$540
2nd-9th: Madness Extreme Stage 3 Satellite Entry valued at SC$77
10th-99th: Madness Moderate Stage 2 Satellite Entry valued at SC$11
100th-335th: Madness Mild Stage 1 Satellite Entry valued at SC$1.50

Registration for the opening freeroll is open now, so don’t miss your chance to win your way to the Nuts.

Satellite your way to the Nuts

The madness doesn’t stop there. Throughout March, Global Poker Madness is hosting a series of satellites.

The affordable satellite structure will give players the opportunity to play their way into the Nuts Main Event.

Global Poker is committed to making sure every player has an opportunity to play the Main Event.

Satellites are running every day between now and The SC$540 buy-in Main Event on April 1. A player visiting Global Poker will find satellites starting at only SC$1.50.

Now there really is no excuse to let the madness slip by.

Here’s how to earn your Nuts Main Event ticket:

  • Stage 1 – The Mild Satellites. The buy-in is SC$1.50 and awards a Stage 2 tournament ticket for every SC$11 in the prize pool.
  • Stage 2 – The Moderate Satellites. The buy-in is SC$11 and awards a Stage 3 tournament ticket for every SC$77 in the prize pool.
  • Stage 3 – The Extreme Satellites. The buy-in is SC$77 and awards a tournament ticket to the Nuts Main Event tournament for every SC$540 in the prize pool.

Global Poker Madness Schedule

Date Time (ET) Tournament Buy-In
March 4 2:05 PM Madness: SC$2,500 Opening Freeroll SC$0
Daily All Day Madness: Mild Satellite Rd 1 (different formats available) SC1.50
Daily 7:50 PM Madness: Moderate Satellite Rd 2 [Turbo] SC$11
Daily 10:50 PM Madness: Moderate Satellite Rd 2 [Turbo] SC$11
March 10 4:20 PM Madness: Extreme Satellite Rd 3, 10 Seats Guaranteed SC$77
March 17 4:20 PM Madness: Extreme Satellite Rd 3, 10 Seats Guaranteed SC$77
March 24 4:20 PM Madness: Extreme Satellite Rd 3, 10 Seats Guaranteed SC$77
March 31 4:20 PM Madness: Extreme Satellite Rd 3, 20 Seats Guaranteed SC$77
April 1 3:20 PM Madness: Extreme Satellite Rd 3 [Turbo], 10 Seats Guaranteed SC$77
April 1 5:30 PM Madness: The Nuts Main Event SC$200,000 Guaranteed [Deep] SC$540

Pop-up freeroll

Global Poker is also offering a Saturday pop-up freeroll to the festivities.

During Global Poker Madness, a pop-up freeroll will appear at random times during the day. Look for a notification that a Madness: SC$500 Freeroll is starting.

These exciting and fun freerolls will award Madness Tournament tickets to different Madness satellites. Don’t miss out on your opportunity to take advantage of these freerolls – login to Global Poker every Saturday.

It’s easy to play on Global Poker

Get in on the Global Poker Madness by depositing on PayPal. Don’t wait! You are three stages away from the Nuts!

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Discussion: How Would A Perfect GTO Poker Bot Perform At High Stakes?

You can’t listen to or eavesdrop on a poker conversation these days without the mention of “GTO.”

That doesn’t mean GTO is something new. It’s not.

When it comes to poker, though, it’s often misused and misunderstood.

That’s why a tweet that included a poll about GTO from poker pro Oliver Busquet caught our attention.

What followed was a fascinating conversation.

But before we get to that …

What is GTO?

Let’s start by defining what GTO is and what it is not.

Game theory optimal solutions are specific mathematical definitions to a strategy. In other words, it’s the best, unbeatable solution to a game.

What you need to know is GTO doesn’t really exist in poker. Poker isn’t solved, and because there is no solution, GTO by its strictest definition can’t be applied to the game.

Defining GTO as it applies to poker just means taking the most unexploitable line. While simply described, there isn’t anything simple about it.

Dispelling common myths about GTO

There are some common myths about GTO and how it applies to poker that could wind up getting a player in trouble.

Two of the most common myths are:

  • GTO strategy is a profitable strategy
  • All the high-rollers use GTO

Let’s talk about those a little further.

GTO play does not guarantee a profit. GTO means you are using a strategy that is unbeatable. The problem is that a GTO approach doesn’t ensure you’ll win against certain opponents.

Technically there is no GTO in poker. When players reference GTO, they are most likely speaking of the best possible strategy.

GTO, as it applies to poker, is a strategy that is influenced by GTO.

GTO discussion

Busquet followed up with a request for opinions in addition to voting in the poll. He specifically asked for responses from players that are “very good.”

And the very good (and some not so good) players obliged.

Dylan Linde

When Busquet asked what he voted for, Linde responded

Busquet was “quite shocked” by the answer and followed up with a response.

Which got Linde thinking.

Dominik Nitsche

Allen Cunningham

Ryan LaPlante

Ryan Yu

Olivier Busquet

Daniel Negreanu weighs in.

Are you struggling to understand GTO?

Does this clear things up? If not, Fedor Holz recently tweeted out a link to The Evolution of Trust.

The Evolution of Trust is an interactive guide to game theory and why and how we trust each other. It’s worth a look.

Trust us.

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The L.A. Poker Classic Main Event Is Not Broken, So Why Fix It?

The complaints about the L.A. Poker Classic were started by Allen Kessler last week on Twitter. It is Kessler’s belief that numbers dropped at the prestigious event due to structure tweaks. There were few who agreed with Kessler simply on this point, but there is a larger argument in play. The unique structure of the LAPC is what it makes one of poker’s ‘must play’ events each and every year. There are a few tweaks that can be made but this major event has a formula that works.

Leveling up

The World Series of Poker Main Event is the crown jewel of all tournaments. One detail that makes it such is the inclusion of two-hour levels for the duration of the event. Days 3 and 4 of LAPC have this benefit added and it marks the progression of a structure that fits all stages of the tournament.

Kessler believes that one-hour levels on Day 1 are a mistake and prefers 90. This is incorrect.

For a freezeout event, eliminations have to come at some point in order for the tournament to proceed. A structure tailored for eight 60-minute levels on Day 1 forces action by the end of the night and pulls the field down to a number that allows for the money bubble to hit on Day 3.

Survive Day 1 and you are rewarded with 90-minute levels on Day 2. Simple as that.

Difficult terrain

To build off of a point made by David Baker, poker tournaments are created like golf courses. Not all of them have to be the same, and if you don’t like one, you can play another. Five Diamond and LAPC are both $10,000 events but carry two different structures. The unlimited re-entry at Five Diamond combined with 90-minute levels throughout gives a different feel than LAPC.

Both tournaments take five days to reach the 60-minute final table, they just take different routes to get there. If Five Diamond and LAPC were the exact same structure, why even have the two events?

The former Bay 101 Shooting Star structure and WPT Rolling Thunder event go down to six-handed and 90-minute levels when the field hits 36 players. The addition of Six Max poker is a welcome sight to those who want some spice of life when playing a WPT.

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Time to add a full live stream

Poker Central and PokerGO created a new age in poker with the abundance of live streamed final tables. The product is a proven winner and there is a step further they could go to bring in more fans to their subscription-based model.

Poker PROductions set up in Los Angeles days in advance to bring coverage of the final table. Next year, the crew can bring two extra table sets with them to stream from the final three tables down to a winner.

PokerGO wants to put stars on their broadcasts and Phil Hellmuth, as well as Chance Kornuth, fit the bill. The two players placed in the top-20 at LAPC but the only way to experience their run was through live updates. Live streams are the present and future of poker and including them before a final table is music to viewers’ ears. A Hellmuth rant going viral benefits PokerGO.

Does the cost of extra tables justify the cost of putting stars like Hellmuth on one of poker’s largest stage? It’s an interesting thought that fans want to see answered with a resounding yes.

What to do to bring up the field size?

Matt Savage can’t be pleased with the drop off from 500-plus entrants in Seasons XIV and XV to 493 in 2018. The $1 million guaranteed first-place prize fell into place to draw out East Coasters who were on the fence to justify the costs of flying cross-country for what could ultimately be only an hour of play. Ask Ari Engel.

The loss of Bay 101 on the schedule hurt LAPC. Assuming that marquee event does not return to the schedule in Season XVII, what does LAPC do to bring up numbers? The option of changing the structure is not available.

Photo courtesy of WPT/Flickr

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Pretty Soon Only High Rollers Can Afford Rising Vegas Resort Costs

Several major casinos on the Las Vegas Strip continue to make it more expensive to gamble by raising controversial resort fees and parking rates.

MGM Resorts International became the latest operator to hike the price of a visit to most of its Las Vegas Strip properties, raising resort fees at 10 of its 13 casino hotels this week.

MGM’s mid-range properties, including MGM Grand, The Mirage, and Mandalay Bay, will see resort fees go up up by $2 to $37. Lower-end properties including Luxor and Excalibur will see resort fees raised by $5 to $35. Plus, resort fees at Circus Circus on the North end of the Strip are going up $2 to $30.

Resort fees at MGM properties including Vdara, Bellagio, and Aria are not going up.

Casino resort fees keep rising

Caesars Entertainment also raised resort fees at many of it’s Las Vegas Strip properties March 1. Resort fees went up $5 to $35 a night at Bally’s, Flamingo, Harrah’s and The Linq. The fees were also raised $2 to $37 a night at Cromwell, Paris and Planet Hollywood. Plus, resort fees were hiked to $39 at Caesars Palace.

This marked the third year in a row Caesars Entertainment has raised resort fees. Las Vegas Sands has also increased resort fees at its properties twice over the past two years.

Resort fees have become a source of controversy because they can be misleading. Although unavoidable, the fees are not often included in published room rates. Particularly on internet booking sites, where they may not appear until after a room has been selected.

The Las Vegas Review-Journal reports attorneys general in 46 states, as well as the District of Columbia, are currently investigating the legality of imposing resort fees. Nevada is not among those states.

Additionally, the newspaper also claims a class-action lawsuit has been filed against several Las Vegas Strip properties in regards to internet fees.

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Free casino parking is a thing of the past

Free parking was once a staple perk of the Las Vegas Strip casino experience.

MGM changed that in 2016 when it became the first group of properties to begin charging visitors for parking. Caesars Entertainment properties soon followed suit.

Now, both are raising the parking rates as well. MGM, announced in January it was increasing parking fees at 11 of its 12 Strip properties.

Self-parking at Caesars Palace went up by $2 from $10 to $12 for 1 to 4 hours March 1. Parking rates were also raised at:

  • Cromwell
  • Paris
  • Bally’s
  • Harrah’s
  • The Linq

Self-parking is still free at the Rio All-Suite Hotel & Casino just off the Strip. Plus, Caesars properties do not charge to park for 60 minutes or less.

The move to these fees coincided with casino resorts starting to earn a majority of revenue outside of gambling.

With 70 percent or more of Las Vegas Strip resort revenues now being derived from restaurants, shops, shows, and nightlife venues, the properties are no longer offering free parking or waiving resort fees to try to attract gamblers the same way they once did.

 

 

 

 

 

 

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Welcome To Pennsylvania, Churchill Downs!

The business transactions in the Pennsylvania casino industry just keep coming. On Feb. 28, Churchill Downs Inc. (CDI) announced it is acquiring Presque Isle Downs Casino and Racetrack in Erie, PA.

This is the third acquisition in as many months in the Keystone State. Penn National is in the process of acquiring Pinnacle Entertainment, which owns The Meadows Casino. Additionally, Boyd Gaming purchased Valley Forge Casino in December.

Unsurprisingly, Churchill Downs cited the online gambling opportunities as the major reason the Kentucky-based company is expanding operations to northwest Pennsylvania.

Two-casino deal with a $229.5 million price tag

There is a second property in Louisiana that comes with this sale. For a combined cost of $229.5 million, CDI is purchasing both Presque Isle Downs and Lady Luck Casino in Vicksburg, LA. CDI already owns another casino in Vicksburg, the Riverwalk Casino.

Pennsylvania is new turf for CDI though. It also means new potential opportunities for the company. The PA gambling expansion laws mean CDI can now potentially pursue several new options, including:

Presque Isle is the home to 1,600 slots, 32 table games, and a poker room. There is also a thoroughbred racetrack that runs around 100 race days a year.

The Vicksburg sale will close in the second quarter of 2018. CDI needs to finalize the Lady Luck sale as a condition of the Presque Isle sale. the current timeline has the PA sale wrapping in the final quarter of this year. Another stipulation of the deal is approval of the sale by the Pennsylvania Gaming Control Board (PGCB).

Churchill eager to get into the online gambling game

In the press release announcing the acquisition, CDI CEO Bill Carstanjen readily admitted online gambling was a major reason why the company purchased a Pennsylvania casino:

“We are excited about welcoming both of these properties to the Churchill family.  Presque Isle will give us a foothold in Pennsylvania which has recently passed legislation authorizing real money online gaming.  The Lady Luck Vicksburg is immediately adjacent to our Riverwalk facility and offers us operational efficiencies in a stable region.  Both properties fit our investment criteria and will be immediately accretive to our shareholders.”

The online gambling angle is something CDI pursued in the past. In 2011, it acquired BLUFF Media, a company with a poker-focused magazine and website. The assumption was CDI wanted to leverage the BLUFF name to launch an online poker site.

Additionally, the company’s Twin Spires product allows customers to place horse betting wagers online in 30 different states, including Pennsylvania.

However, what is interesting is the software element of CDI. The company has Twin Spires, which uses in-house technology. There are currently no online casino software partnerships.

In fact, Churchill Downs actually unloaded its social gaming company, Big Fish Games, in December of last year. The company sold for $1 billion to Aristocrat Technologies in Australia.

For now, it seems like CDI is keen to develop in-house. However, given the timeline in PA, inking a deal with a software company could certainly speed up the process to get

Photo by Thomas Kelley / Shutterstock.com

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