Category Archives: Gambling

Daniel Negreanu Books Desperately Needed Winning Session, Still Down Big

Daniel Negreanu finally booked a big win against Doug Polk, and he desperately needed one to prevent surpassing the $1 million deficit mark.

Daniel Negreanu finally won some big pots against Doug Polk. (Image: YouTube)

Heading into Friday’s contest, Polk had recorded seven six-figure wins in the previous 10 sessions. He won so much money during the first 18 sessions that Negreanu had to add to his initial $1 million deposit.

Time and time again, the GGPoker ambassador would get off to a slow start either giving away a stack or getting coolered early in the session. That happened yet again on Friday. Polk, with pocket jacks, flopped a set of jacks on a J-4-9 board. Negreanu had pocket fours in the hand and there wasn’t much he could do to avoid giving away around $40,000 chips.

Poker Players Getting Rich Off Bitcoin Puts Americas Cardroom Under Pressure

The second coming of Bitcoin (BTC) has put the Winning Poker Network under pressure as players looking to get rich have opt of crypto cashouts.

The latest cryptocurrency bull run has prompted poker players to convert their bankrolls into Bitcoin. (Image: Bitcoinist.com)

With the price of Bitcoin surging to levels not seen since 2017, poker players are using the upswing to boost the value of their bankrolls.

The demand for Bitcoin has been so great that Winning Poker Network CEO Phil Nagy has struggled to keep up. Discussing the recent rush with Bloomberg, Nagy said he’s been forced to buy more BTC to cover withdrawal requests.

“New” gaming taxes arrive in Mexico this week

Mexico is having a difficult time with its casino industry, with the country’s president, Manuel López Obrador, looking to cut back on the number of gambling licenses that are issued.  He has already ordered that some operators have their existing licenses pulled over concerns about their ability to properly follow gaming regulations and policies and the crackdown is expected to continue.  However, the thought of losing any potential revenue is causing concern in some Mexican states, and Jalisco wants to make sure it has all its assets covered.  The Treasury Commission of the Congress of Jalisco just formally approved a new law this past Monday designed to guarantee gaming operators comply with existing tax laws. 

A measure in the Jalisco State Revenue Law for 2021 places a 10% tax on slot machine and casino game winnings.  The tax was technically already in place through previous legislation, but lawmakers felt that some operators were able to find ways around paying the tax because of how the law was written.  As a result, they pushed for the separate legislation, which they hope will force operators to comply. 

The new measure, the Tax on Gambling Expenditures, has been added to the Revenue Act of Jalisco in an effort to ensure the state receives greater contributions from its gaming market.  It was designed by Jalisco Governor Enrique Alfaro, who is targeting an increased budget for the state.  He wants to reach $6.2 billion and expects the tax to provide around $20 million for the budget.  The measure didn’t find much resistance, with lawmakers ready to put the additional funds to good use.  Some of the tax revenue generated from the bill will be used to cover costs associated with the Red Cross, the state’s Cancer Institute and certain hospitals, while 25% of it will be used to target problem gambling initiatives. 

Jalisco Treasury Commission Deputy Gerardo Quirino Velázquez helped push the measure through and is going to help ensure operators are held accountable.  He was responsible for highlighting the fact that certain operators were being a little too creative with their accounting practices and not giving the government its fair share of taxes, and said last month, “Different businesses like casinos were already operating but disguised as other things. Then we decided to establish a new list to be able to cover all those businesses that had the same characteristics as casinos.” 

The Industry Eye – Season 8 Episode 3

Ed Pownall dips more than a toe into gambling age disparities in the UK, Flutter’s big buy, the City’s big sell & Golden Nugget’s big bet.

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Isaac Haxton: Stop Playing Live Poker in Las Vegas Due to COVID-19

Isaac Haxton called for Las Vegas poker players to stop playing due to increased COVID-19 cases in Nevada. Nearly 1% of all Nevadans tested positive for the virus just in the past week. The high-stakes pro also pleaded with operators to call off upcoming live tournament events.

Isaac Haxton pleaded with Las Vegas poker players to stop playing cards for a while. (Image: thescore.com)

Even during a global health pandemic, poker in Las Vegas is still booming. Out of the 31 card rooms in town that were open pre-coronavirus, 19 have since returned to business. And there certainly isn’t a shortage on action despite Governor Steve Sisolak’s recent 25% capacity restrictions.

Even with limits on capacity, the poker tournament scene is ramping up with the upcoming WSOP Main Event final table at the Rio, a series of $10,000 buy-in events at Wynn, and a major-ish series over at Bally’s running until early January. Haxton referred to these events as “irresponsible” on Twitter.

Doug Polk Runs Hot Yet Again, Now Up Nearly $1 Million on Daniel Negreanu

Doug Polk is absolutely destroying Daniel Negreanu through more than 9,000 hands, and is now flirting with a $1 million profit. The GGPoker, once again, booked a six-figure profit against his long-time rival.

Doug Polk continues to run hotter than a Las Vegas summer day. (Image: YouTube)

If you’ve paid attention to the live-stream chats on YouTube during the matches, you’ll notice the poker community is mixed on its assessment of the play. Some argue the difference in the match is pure luck, while others believe Negreanu is simply getting out-played.

Regardless of your thoughts on skill, there’s no doubt the luck has been on Polk’s side throughout most of this challenge. He has yet to lose a single all-in pot with cards to still to come while ahead. Conversely, Negreanu has lost a handful of those pots. And the overall number of large pot coolers appear to be heavily in Polk’s favor.