Poker has been in my thoughts for the first time in a long time lately. I was part of the poker boom that erupted when the World Poker Tour hit the Travel Channel. The online sites sponsoring WPT and World Series of Poker broadcasts took off as players like me joined in the fun.
I started playing recreationally, then opened an online account. I never made huge money playing poker online, but I didn’t lose huge money either. I hovered around break-even playing cash games and tournaments and enjoyed it immensely. I even won a satellite tournament at the Orleans, taking a $60 entry, winning a seat in a $500 tournament and making a $440 profit in three hours of fun in Vegas (I credit the massage I got earlier in the day at the Orleans spa. It was awesome, and it led to me sitting in a steam room with Tony Danza, which I’m sure gave me the positive mojo I needed).
Meanwhile, the poker boom continued. The number of entrants to the World Series and its satellite tournaments skyrocketed. In fact, tournament poker as a whole saw an explosion of interest. TV shows sprang up showing cash games and single-table tournaments as well as the usual tournaments. Magazines sprouted up at newsstands and the players became celebrities. Poker had peaked.
I don’t know if I just burned out on watching too much of it was the cause, but for whatever reason my interest in poker waned. Maybe it was just a fad in my life, something I did for a while and then just stopped, like reading comic books, watching MTV or paying attention to stoplights.
Not long ago the Department of Justice went after the three largest online poker sites, Pokerstars, Full-Tilt Poker and Absolute Poker. The charges are fraud, and the sites are now off-limits to U.S. players. While I don’t play much myself anymore, I find this puzzling.
First and foremost, this entry would be a completely different story if it turned out the sites were stealing money from players, but that’s not what this seems to be about. There are no stories of sites using fake “online” players and corrupt software to steal money from well-meaning players. There are no stories of anyone’s online accounts coming up light. These sites make money by taking a small percentage of each pot played in cash games and a piece of each entry for tournaments. These amounts are shown right on the screen and none have been accused of taking anything more than what they say they do. While there have been instances of some players trying to beat the system (comes with the territory in gambling) they have been dealt with well by the sites.
There is a group called Stop Predatory Gambling. Les Bernal, the executive director, was quoted in Sports Illustrated as saying, “People are still going to play poker, it’s just a question of whether people are going to make billions of dollars off of it.”
Excuse me? His problem is these sites are so popular and have so many users that the owners are making too much money? Has his guy ever heard of capitalism? You make a product people like, people buy or pay to use your product, you make money. That’s how it works. The big three poker sites are the big three for a reason. They have a reputation as having the best service (more types of poker games, more tournaments, the best variety of buy-in and cash game levels for all budgets) and being secure and proactive in fighting cheaters.
Even so, this is not about customers being robbed. It seems to be more about the sites breaking a law passed a few years ago banning U.S. banks and credit card companies from sending money to these online sites.
I had a problem with the law then and I’m still bothered about it now. Gambling is becoming more accepted in society across the board. We’ve had lotteries for a long time to go with our March Madness pools. Pull tab machines and bingo are common. Casinos are spreading throughout the country as well, both on Indian reservations and elsewhere. Racetracks are receiving permission to put in slot machines. On April 12 Washington D.C. itself allowed internet gambling.
Sports betting is as widespread as ever, and I am still waiting for anyone to give me a real explanation why betting on the price of a stock going up or down is different than betting on a sports team winning or losing. In each case you find a company or team, look at its strengths and weaknesses, compare those to the strengths and weaknesses of the other companies or teams in the same field, then bet on whether the company or team will do better or worse in the future.
The only difference I can really see is that sports is more transparent. If you bet, the score is the score. That’s it. You can’t buy into a sports team that looks like it scored 100 points only to have an accounting firm go down and find out they only had three points in reality. But you can buy Enron when it looked great only to find that the numbers you based your buy order on were a work of fiction authored by Enron and Arthur Andersen.
It’s a choice. People choose to have an internet connection. They choose to open an account. They choose to place a bet or play some poker. They aren’t victims. They should be allowed to make that choice for themselves.
I say let ‘em shuffle up and deal. Er, okay. Fire up the software and deal! Doesn’t have quite the same ring, does it…?