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As of May 1, the Venetian will be the latest casino to disallow cash from being used to wager at the poker tables. The move comes several weeks after MGM Resorts announced it would be banning cash from the tables at all nine of its Strip poker rooms. The Wynn has since instituted the same policy. Under these new guidelines, players will be required to convert their cash to chips before the money is considered in play.
As we outlined in our previous report, the reason casinos are moving toward cashless tables is so that they can more closely track how much players are buying in for at the tables. The Bank Secrecy Act requires casinos to file a Currency Transaction Report for any player who buys in for more than $10,000 in chips. At table games such as blackjack and roulette, casinos have required that bets be placed with chips rather than cash for many years now. This makes it easy for casino personnel to track how much a player buys in for. At poker, however, the permission of players to bet with cash has made it easy for individuals to slip under the radar and conceivably go over the $10,000 threshold without the casino being aware of it.
A sign in the Venetian poker room (seen below) states that anybody purchasing $2,000 or more in chips will be required to do so themselves at the casino cage rather than using a chip runner. It is likely that players who approach the $10,000 threshold will be asked for identification, including a social security number, if they do not already have one on file.
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Christmas will be coming a bit early for poker players at the Venetian next month. Beginning May 1, the Strip's largest poker room will begin offering a $2 max rake on all poker games 24 hours a day through May 24. The normal rake at Venetian is a $4 maximum.
To the uninitiated, the rake is, basically, how poker rooms make money. Because poker players do battle with each other instead of against the house, the poker room takes a percentage of the money in each pot. In most poker rooms, the rake is 10% of the pot up to a certain amount and it is taken in $1 increments. The first dollar is taken out when the pot reaches $10, the next dollar is taken out at $20, and so on until the maximum rake is reached. The $2 maximum rake at Venetian is a 50% drop from what they usually take and players will see a nice increase in their bottom line because of it.
The 46th Annual World Series of Poker at Rio is less than four months away, and poker fanatics were given a taste of what to expect this summer with the official release of the complete schedule of events.
The festivities will kick off on Wednesday, May 27th with a casino employees event, which is traditionally the first event of the series. The final event, as always, will be the $10,000 main event which, this year, begins on July 5th and goes all the way through July 14th, at which point the final nine players will go on hiatus and return in November to play down to a winner. There are plenty of other events during the seven weeks in between that should provide something for just about everybody, including the massive Colossus tournament which is predicted to be the largest live poker tournament ever.
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The annual festival of nonstop card-playing known as the World Series of Poker has come a long way since its beginnings at Binions Horseshoe way back in 1970. That inaugural year saw the winner decided by a vote among the seven players who participated. It wasn't until the following year that a tournament format was introduced, with a whopping six players ponying up $5,000 to determine who the best poker player was. In 1972, the buy-in was raised to $10,000, which attracted eight gamblers, and since then what is known as the Main Event of the WSOP has grown by leaps and bounds. Last year’s event drew 6,683 participants.
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A few weeks ago, we told you that Yahoo! might be preparing to take on the big boys in the online poker world. Since that time, Ultimate Poker has closed and Yahoo! has announced it will be closing its classic online games portal, including Yahoo! Poker.
Ladies and gentleman, your new World Series of Poker champion, Martin Jacobson.
The Swede came out on top in a nearly 15-hour final table played over the past two days at the Penn and Teller Theatre at Rio. Jacobson, 27, wins $10 million for his first-place finish.
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The game’s, perhaps, most popular player and a stalwart tournament director will be the two newest inductees into the Poker Hall of Fame.
A 41-person panel of existing HOF members and poker media members chose Daniel Negreanu and Jack McClelland to enter the hall. An official induction ceremony will be held at Binion's at 7:30 p.m. on November 9, a day before the final table of the World Series of Poker Main Event takes place at Rio. The festivities will take place in the Longhorn Room. Formerly known as Benny’s Bullpen, the room was home to the final table of the WSOP for the bulk of its existence.
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Whether there’s a need for another website to play online poker in Nevada isn’t the question. That’s because the Silver State is getting a new online poker website next month, whether it's wanted or needed.
HDPoker will be launching in a different manner than potential competitors, Ultimate Poker, WSOP.com and Real Gaming. HDPoker will launch with only social poker in 2014. As the website develops a following, it plans to offer real money poker in 2015.
Players are trading bluffs and deep penetrating stares on ESPN’s World Series of Poker telecast, airing now through the final table of the Main Event in November.
But, what you see isn’t always what you get. Televised poker often presents a rather misleading look into the world of tournament poker. In addition to some obvious differences, such as, you know, the fact that drunk who gave away all his chips in that $50 Flamingo tournament wouldn’t ever play the $1 million buy-in Big One for Big Drop at the Rio, you’ll find plenty of differences between what’s myth and what’s reality.
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The big event of the 2014 World Series of Poker is well underway at the Rio. Not the Big One for One Drop which netted one player $15 million and over $4.5 million for charity. The big one in this case is the Main Event which is currently on the second of two Day 2's that will eventually play down to one winner going home with $10 million dollars. And, if that hasn't sufficiently confused you yet, we're going to throw some facts and figures out now for what has been a bigger and better record-breaking year for the WSOP:
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Poker fans should be excited by this news. A new television show covering the world of poker just has made it onto national airwaves. “Poker Night in America” debuted a couple weeks ago on CBS Sports Network. If you’re a fan of watching poker on TV, you'll be happy to know the show is being brought to you by a veteran. PokerNews.com reports the co-creator of the Heartland Poker Tour, Todd Anderson, is the brains behind “Poker Night in America."
CBS Sports Network isn’t the same CBS where you’ll watch “60 Minutes." It’s a separate channel dedicated 100% to sports. It’s channel 333 and 1333 on Cox in Las Vegas. You can find where CBS Sports Network is in your town here.
Professional poker player Lauri Pesonen says says a laptop was stolen while his roommate and fellow poker pro Joni Jouhkimainen reported some other items that were stolen. Another poker pro Manh Nguyen says $35,000 in cash was stolen from his room at Rio.