Game Theory: The Death of Online Poker

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markiz

first of all, only a small percent were really making money. second of all, it was an amazing way to launder money. one player deliberatley loses to another, the winner picks up the money from the bank, and gives it to the loser. minus the commision, of course. and there is no way to control it.

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schneider1492

i think that's the other way around, otherwise the money would still be undocumented. it would be more effective if you paid a bunch of people $1500 under the table to loose $1000 to you. that way you may have to pay taxes on it but its legal income that you can spend. the way you said it you have no way of showing where you got the money so you cant spend it.

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roninnder

Oh no, all the poor professional gamblers!

 

Look, if you're good enough to make a living off of playing poker, you should probably live in Vegas or New Jersey or just do the tournament rounds.

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JohnP

"Make their living" is a joke, right? Like day traders "make a living" off the stock market? Or going to "make a living" playing professional basketball? Or "make a living" by selling second life real estate? For every one that DOES "make a living", there are a dozen that SAY are "making a living", and thousands that just go bust.

Winners make the news, losers never do. Don't be a loser by listening to hyped up news. After all, these charlatans are just "making a living" off of you.

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Holly Golightly

I do not understand... USA is suppose to be the creator of the free market... Why does it does it so things like this, yet have casinos everywhere? I believe the casino giants lobbied the "trusty, and honorable" politicians. The best way to gamble is from home. Where you are safe. What is brick and morter trying to do? They need to stay in the past. Anyhow, I'd rather gamble on a Russian website, where I know I am more safer, thank goodness to a slightly bitter relationship. But yeah, I think these politics are over reacting about online poker. People are making money to help stimulate the fractured economy... Do you want to see your own people suffer??? Well, I guess businesses go before the people... And Casinos go before the economy. Truly a sad story.

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schneider1492

first realize "people" are not making money at online poker. for every $5 someone makes playing someone out there lost $6. so while the corporate pigs get fat off there cut, people with families loose there house because they bet just a little more than they could afford. tell me how is that "stimulating a fractured economy"?

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Eoraptor

They care because the states (especially Nevada and New Jersey) don't want to lose out on all the taxable money that doesn't go to casinos and river boats when people play online poker (remember, if its a virtual good, you've got a good legal chance at not paying tax on it because it doesn't physically exist in a state). Therefore, they tell their elected officials that online poker (and slots, and blackjack, and sports betting, etc) is the root of all evil, destroying families, bankrupting millions of people, and corrupting america's youth. the government then takes it upon themselves to make this dangerous threat  illegal and thereby protect america's youth from it completely and totally for now and forever!

It's exactly the same way Marijuana was made illegal all the way back in the twenties. Someone doesn't like it, or a group of people associated with it, and so they create a fictitious moral crusade against it that does nothing but drive it underground. worked really well on weed, didn't it?

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std error

I work in the corporate financial analysis dept of a major casino company and we would LOVE to have online gambling legalized.

Nothing would be better than to set-up our own online shop and use our customer database to market playing online and playing on your mobile. We can then give players the same credits they get from playing on the floor that can be redeemed for comped airfare to vegas, free room nights, free F&B, free shows, whatever.

There is an enormous of money to be made with legalized online gambling. The idea alone makes us drool since profits affect our bonuses...

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gammatnt

i have heard people from Caesars Palace were paying politicians off. They don't want online competition.

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someone87

 

I still fail to see why the government is involved in this?

Why do they care? Who are the protecting? Who is paying them off? And why is it so important to to them right this very moment?

Just stupid, classic government getting involved where it never should have.

PS. I have never played online poker, just think it's stupid for the government to get involved.

 

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