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Thursday, June 23, 2005
party poker
Poker party on bourse AMIT ROY London, June 22: Anurag Dikshit and Vikrant Bhargava, the two batchmates from IIT Delhi, are selling part of their stake in PartyGaming, the online poker company, in the biggest Initial Public Offering (IPO) witnessed by the London Stock Exchange for four years. They are selling 23 per cent of the shares in PartyGaming, which runs the immensely successful online Party Poker website, on which up to 70,000 people from all over the world can play at one time. The shares, on offer to institutional buyers, are valued by the company at between 111p and 127p. This would put a value on the company of between £8 billion and £9.2 billion. Dikshit, 34, the group’s operating director, has 40 per cent of the shares and 33-year-old Bhargava, the marketing director, 17 per cent. Even if the lower sale figure is achieved — and PartyGaming seems confident it will — they stand to make £736,000 and £312,8000, respectively, from the sale. The precise share price will be fixed on Monday and trading on the London Stock Exchange begin on Thursday “when you and I and other members of the public will be able to buy the shares through a broker”, a spokesman for PartyGaming told The Telegraph. The company hopes a listing will give it added credibility, especially as the Americans have laws which outlaw online gambling. “The book is covered,” the spokesman added. This means that institutional buyers, who are the only ones allowed to purchase the shares at the moment, have told PartyGaming they are prepared to buy all the shares on offer. However, there is some haggling going on over whether PartyGaming has overvalued them. Describing the way the game is played in cyberspace, the spokesman said: “Party Poker is a website and 10 people can gather round a virtual table. Party Poker makes its money by taking a small slice from each pot — the rake, in the jargon. The players could be from anywhere — a girl in Australia could be playing with a man in Australia.” But not from India. One of the ironies of PartyGaming was revealed today. “Ninety per cent of our employees, totalling 950, are in India, based in Hyderabad,” said the spokesman. However, due to government rules, Indians in India are not allowed to play. The PartyGaming IPO, which will probably take the company into the FTSE listing of the top 100 companies, has caught the imagination of the financial world. For tax reasons, Dikshit and Bhargava live in Gibraltar, the “European Kashmir” whose ownership is fought over between Spain and Britain. The weather in Gibraltar is pleasantly Mediterranean but there cannot be too many distractions on which to squander their easily acquired fortunes. The two Indians keep a relatively low profile. The best that the Financial Times could muster up in a recent profile is the revelation that Dikshit “always smiles a lot when he talks”.
posted by party poker at 4:44 AM  
Thursday, June 09, 2005
How Legal Is Your Poker Party?
Up Close: How Legal Is Your Poker Party?December 21, 2004 The Kenny Rogers song says "You got to know when to hold 'em, know when to fold 'em". It's wisdom that might hit home with poker players who are gambling here in Houston for real money. But isn't that illegal? It's poker night, but this isn't Las Vegas. It's not even Lake Charles. This is the Seabrook Beach Club on Clear Lake. It's real poker for real money, where first place will get you at least $2,500. Poker, especially a version called Texas Hold 'em, is suddenly hot. Why? Virtually any night you can watch it on ESPN's coverage of The World Series of Poker. ESPN has now started not only broadcasting million-dollar tournaments, it's about to debut a drama about high-stakes gambling. Poker is suddenly out of the backrooms and into the mainstream. On any given night, dozens of bars around Houston are running tournaments with thousands of dollars at stake. But is it legal? "If you break the law, you break the law," says Robert Burby of the Texas City Police Department. "It's just the way things are done here in Texas City." A few weeks ago, police in Texas City raided a nightclub, ticketing some 80 players and charging the owner with violating the state's gambling laws. He told, he'd checked with local officials and believed his poker tournament was a legal way to drum up business. But according to prosecutors, Texas law says gambling is only legit in private places and not in nightclubs or bars. The Harris County D.A.'s office flatly says the only place you can play poker for money legally in Texas is in the privacy of your own home. That is an interpretation not shared at the Seabrook Beach Club. "We come as club members," Mark Liszewski, club member. "We come to play a game." The poker room is separate from the rest of the bar and players have to register as members making it a private place according to the management. In a strip mall in nearby Webster, we found more games in progress. Rick Garren retired from professional wrestling to open what he calls Big Slick's Social Club devoted solely to poker. Garren says by keeping it members only and making money only from entry fees, food and soft drinks he's legal. Garren says playing poker like this is a far cry from clearly illegal games played in smoky backrooms where the house takes a cut of the pot. "If you play in an underground game, you don't know if you're gonna get paid, you don't know if you're gonna get robbed, you don't know if the place is going to get busted, I mean there are just so many things that are dangerous," says Garren. For now, these games go on, but experts say it might take a change of Texas law to make it clear whether they're truly legal or not. State alcohol officials in Houston say they routinely investigate bars for having illegal video and slot machines. But they say Texas Hold 'em is a new concept in gambling and that for now, they likely won't take action unless the District Attorney decides it's an offense.
posted by party poker at 12:57 AM
Tuesday, May 24, 2005
How Legal Is Your party poker
Up Close: How Legal Is Your Poker Party?December 21, 2004 The Kenny Rogers song says "You got to know when to hold 'em, know when to fold 'em". It's wisdom that might hit home with poker players who are gambling here in Houston for real money. But isn't that illegal? It's poker night, but this isn't Las Vegas. It's not even Lake Charles. This is the Seabrook Beach Club on Clear Lake. It's real poker for real money, where first place will get you at least $2,500. Poker, especially a version called Texas Hold 'em, is suddenly hot. Why? Virtually any night you can watch it on ESPN's coverage of The World Series of Poker. ESPN has now started not only broadcasting million-dollar tournaments, it's about to debut a drama about high-stakes gambling. Poker is suddenly out of the backrooms and into the mainstream. On any given night, dozens of bars around Houston are running tournaments with thousands of dollars at stake. But is it legal? "If you break the law, you break the law," says Robert Burby of the Texas City Police Department. "It's just the way things are done here in Texas City." A few weeks ago, police in Texas City raided a nightclub, ticketing some 80 players and charging the owner with violating the state's gambling laws. He told, he'd checked with local officials and believed his poker tournament was a legal way to drum up business. But according to prosecutors, Texas law says gambling is only legit in private places and not in nightclubs or bars. The Harris County D.A.'s office flatly says the only place you can play poker for money legally in Texas is in the privacy of your own home. That is an interpretation not shared at the Seabrook Beach Club. "We come as club members," Mark Liszewski, club member. "We come to play a game." The poker room is separate from the rest of the bar and players have to register as members making it a private place according to the management. In a strip mall in nearby Webster, we found more games in progress. Rick Garren retired from professional wrestling to open what he calls Big Slick's Social Club devoted solely to poker. Garren says by keeping it members only and making money only from entry fees, food and soft drinks he's legal. Garren says playing poker like this is a far cry from clearly illegal games played in smoky backrooms where the house takes a cut of the pot. "If you play in an underground game, you don't know if you're gonna get paid, you don't know if you're gonna get robbed, you don't know if the place is going to get busted, I mean there are just so many things that are dangerous," says Garren. For now, these games go on, but experts say it might take a change of Texas law to make it clear whether they're truly legal or not. State alcohol officials in Houston say they routinely investigate bars for having illegal video and slot machines. But they say Texas Hold 'em is a new concept in gambling and that for now, they likely won't take action unless the District Attorney decides it's an offense.
posted by party poker at 11:07 PM
Friday, May 13, 2005
Tips to make a party out of your poker game!
Tips to make a party out of your poker game!Trembling Hands
Also, a byproduct of anxiety, beware of a player whose hands are shaking, this nervousness can represent a big hand. Glance at Chips
Again, relating to the eyes. It is common for players to quickly glance at their chips if they connect with the board after a Flop for example. This may be a subconscious reaction, but the player is already planning his attack. Peeking Hole Cards on Flop
Some players will take another look at their hole cards when, for example, the board is showing a potential 3 card flush draw. Typically, the player is looking to see if one of his cards is connecting, because he remembers only that the two cards are different suits.
posted by party poker at 11:46 AM
Thursday, May 12, 2005
Poker holding on to a winning hand
Poker is, according to its adherents, the biggest growth area in sport this side of Jose Mourinho's ego. The blossoming of the game on the internet is such that poker millionaires are old hat: the most popular websites, who started the party only three years ago, billionaires. And television has now caught the wave.
There is not so much a rash of poker on the satellite schedules at the moment as a raging contagion. Just this week we were treated to the European Championship final on Eurosport, the conclusion of the British Open on the newly established Poker Channel, plus, on Sky, the Poker Million, in which - though you've probably guessed this from the title - the prize on offer is $1 million.
This being British television, first on to the Sky table in pursuit of the big one were a bunch of celebrities.
"This is a better line-up than Celebrity Big Brother, you're in danger of actually knowing who some of these people are," said Roy 'The Boy' Bradley in the commentary box as the celebs were unveiled. He wasn't wrong. Though since we've all seen John Regis panicking in a canoe on Superstars, Bradley might have chosen a better metaphor to introduce the former Olympian than "he's taken to this game like a duck to water".
As the inverted commas around that 'Boy' of Bradley's name suggests, it appears to be a contractual requirement to come to a poker table equipped with a nickname. Phil Taylor, the world darts champion, thus had a head start, arriving with
'The Power' tucked under his arm. Matthew Stevens, the snooker player, though, may have been less than enamoured to be gifted 'Shady', while Helen Chamberlain of Sky's Soccer AM must have wondered what she had done to deserve 'Hell's Bells'.
Worse was to come, however, when Bradley described her style of play as "more relentless than the Duracell bunny". It didn't seem to do her any harm, as in the final play-off she beat Barry 'No Nickname Necessary' Hearn. It was brave on her part to ignore the adage about always ensuring that the boss triumphs at the office golf day; Hearn is also the promoter of the competition.
Even if he could have squeezed past Chamberlain, the snooker impresario and Leyton Orient chairman seemed particularly chuffed to have disposed of a table full of sportsmen.
He thus precisely fitted the thesis proposed by journalist Matthew Norman, commentating on the British Open final for the Poker Channel, as to why so many people are picking up the cards and seeing if their pair of twos can out-run their opponent's royal flush. "When you get to 40 you realise you'll never play for Spurs," Norman said, "nor will you score a century for England. But you could find yourself playing poker on the same table as the world champion."
Which is what happened to former Daily Telegraph journalist Matt Born, who qualified for the Open via the internet and fought through the early rounds to find himself under the deathless gaze of the world title holder, Greg 'The Fossilman' Raymer. Born was hooked up to a heart monitor to see how he was coping. While Raymer's rate barely registered a flicker as the two went head to head, Born's raged so high he looked destined for a coronary. "That's why this is a sport," claimed the Poker Channel's resident expert, Carlo Citrone. "You've got to have the endurance ability of a marathon runner." It was lucky Born was wearing shades: if we could have seen his eyes at that point they might well have been popping out of his head.
According to Norman, the reason so many of the players wear dark glasses is "a gangster fantasy". He reckoned every one of them, as they stick, turn, raise or fold, are under the impression they are living through the poker scene from Reservoir Dogs.
A neat theory which was somewhat undermined by the interview with the winner of the Open, Adam Dujmovic. Asked how he might spend his £100,000 first prize, Dujmovic replied: "The first thing I'm going to do is take my little girl to Disneyland."
Meanwhile, Kevin Seeger, the man who came third in Eurosport's European Championship final and who describes himself as a "full-time, stay-at-home dad", explained that he would spend his winnings on "getting the garden landscaped". Its fans are right. It is some progress poker has made: from the louche to the suburban in one easy step.
posted by party poker at 9:29 AM
Wednesday, May 11, 2005
How is a 3 Card Poker Party Different?
How is a 3 Card Poker Party Different? Three card poker differs from other poker games in many ways. Firstly, at 3 card poker parties beer is out. At 3 card poker parties, tequila is in. Secondly, at 3 card poker parties there is a dress code. No undershirts are allowed at 3 card poker parties. 3 card poker players are serious, yet friendly, casual, yet elegant. 3 card poker parties are quiet and subdued but intense. Not everyone can participate in the 3 card poker party. Only those who fit the criteria can come and enjoy an evening playing 3 card poker. So if you like tequila, like to wear a shirt over your undershirt, join the 3 card poker party nearest you.
posted by party poker at 9:11 AM
Saturday, May 07, 2005
Learn Poker Party Jokes!
Learn Poker Party Jokes! Poker Players are Never Satisfied
A tinker and his dog enter a bar and discover there is a poker game going in the back room. The tinker's had a good week so he decides to join in. Most of the players are locals, but one guy, a big winner, is also a stranger in town. The tinker does OK - up a little, down a little, generally holding his own. His dog sits on a chair beside him and watches the game. About an hour into the game, the tinker gets a good 7-stud starting hand. On fifth street he makes a club flush. Unfortunately the stranger appears to be working on a spade flush and his highest up card is bigger than the tinker's highest card. As 7th street is being dealt, the tinker pats his dog on the head and says, "Girl, I sure could use an ace of clubs. " The dog jumps down from the chair, runs around to the stranger and bites his ankle. As the stranger reaches down to grab the dog, a card falls out of his sleeve. The dog quickly picks it up in her mouth and brings it back to her master. The stranger, realizing he's been caught cheating, leaps up and runs out the door with several locals in pursuit. The tinker takes the card from the dog's mouth and starts to swear, "You stupid, goddamn dog! Can't you get anything right?" The barkeep chides him, "Mister, why are you swearing at your dog like that? She just saved you a lot of money by catching that cheat!" The tinker responds by throwing the card face up on the table, "I tell her the ace of clubs and what does she bring me but the goddamn ace of spades!"
posted by party poker at 3:46 PM
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