***Official SSNL What Now? Panic/Don't Panic Thread - Page 8

Keyser. · #1 10-03-2006, 07:13 PM

Pretty good post, Grunch, but I think it's kinda backwards for some people. I don't think many of us believe that poker is life, but for some of us, poker was a way for us to get by without working some crap 9 to 5 job for some company that we don't give a [censored] about. Like this summer I played some silly game for a few hours each day and spent the rest of the time doing whatever I wanted with friends or family. It's not life, but for a lot of people it's a way for life not to suck. You don't get to do much "living" during your evening hours off and 2 weeks paid vacation per year.

Also I think this post will become irrelevant soon as I'm optimistic about the future of the industry.

2Paul2 · #2 10-04-2006, 02:34 PM

[ QUOTE ]
Pretty good post, Grunch, but I think it's kinda backwards for some people. I don't think many of us believe that poker is life, but for some of us, poker was a way for us to get by without working some crap 9 to 5 job for some company that we don't give a [censored] about. Like this summer I played some silly game for a few hours each day and spent the rest of the time doing whatever I wanted with friends or family. It's not life, but for a lot of people it's a way for life not to suck. You don't get to do much "living" during your evening hours off and 2 weeks paid vacation per year.

Also I think this post will become irrelevant soon as I'm optimistic about the future of the industry.

[/ QUOTE ]

Nice post.

Paul

ChipStorm · #3 10-04-2006, 10:12 AM

Grunch, I agree with your perspective 100%, but have a couple of counterthoughts.

First, it's OK to live a particular aspect of your life like it's all you have. You just have to know that it really isn't, and be prepared to move on if it doesn't work out. A capacity for total commitment is a very good asset, but there's a difference between total commitment and total dependence.

Second, while the 2nd era did indeed end on Friday, the 3rd era also began. The trends are unmistakable, and commerce via the internet -- including gaming -- is exploding. Look at eBay, the poker/casino sites, WoW trading, ... you name it.

The going rate, from what I've seen, for a nice offshore bank account and mail receiving service (read, non-U.S. address) is less than $1,000 to set up and less than $200 per year to maintain. Maybe a lot less; I've only just started poking around. And recent events are likely to ultimately reduce those prices as demand picks up and innovation kicks in.

Ten years from now, the determined among us will look back at this as a bump in the road.

Keyser. · #4 10-03-2006, 06:31 PM

Keep your hopes up! A promising article from Business Week: http://www.businessweek.com/technology/c...ndex_technology

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LOOKING FOR LOOPHOLES. But U.S. casinos hoping for a slice of the $12 billion online market aren't so sure the party is over. They see a reason to celebrate in the language that ended up on the Senate's cutting-room floor. Unlike the version that passed the House earlier this year, the approved legislation does not explicitly outlaw betting on online casino-style games, such as poker and blackjack. The bill does bar financial institutions from accepting "illegal" bets, leaving the question unanswered as to whether some forms of online gambling are permitted. To date, sports betting is one of the only forms of gambling explicitly outlawed in the act.

The American Gaming Association, which lobbies for the U.S. casino industry, took a neutral stance on the bill, even though several prominent members, such as MGM Mirage (MGM), have said they would like to start online sites. AGA president and CEO Frank Fahrenkopf says the organization does not believe the act eliminates the possibility for U.S.-based casinos to open online sites, regulated by states or the federal government, in the future. "This bill did not make anything legal or illegal," says Fahrenkopf. "What it did was affect the mechanism by which Internet gambling takes place…and there is some question as to whether or not that will be effective."

Indeed, Nevada Congressman Jon Porter introduced a bill in May that would study whether online gambling sites, run by U.S. companies, could be effectively regulated. Fahrenkopf believes that bill is likely to be considered early next year. The measure is backed by the casinos and still gathering support. "It is still Congressman Porter's intention to move ahead with this bill," says Trevor Kolego, the congressman's legislative director. "We hope to pass it, if not by the end of this session, then next session."

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later

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If the bill becomes law, they say that U.S. gamblers will still bet on these sites. But rather than using credit cards, they'll employ other e-wallet payment services based outside the U.S., such as NetTeller and FirePay. Frank Catania, former director of gaming enforcement in New Jersey and president of Catania Consulting Group, calls the law "a sham" that won't stop online betting in the U.S. "There are so many alternate means of payment that it is not going to stop what is happening here," says Catania. "We are going to be spending a lot of money for enforcement, and it is going to be worthless."

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SomethingClever · #5 10-04-2006, 12:09 PM

I had 95% of my roll on Full Tilt when the news broke. I cashed it all out the same day, just to make sure I could.

Then I put 10 buyins back in on Sunday and started playing again.

I'm keeping my fingers crossed that Stars stays open... I don't want ALL you TAGs to end up at Full Tilt!

Remember, Absolute is staying open as well. $50,000 of reload bonuses a year guys.....

MatthewRyan · #6 10-04-2006, 12:28 PM

Im a US player, so Im done with party until I hear they will let american back in...

So, do you guys think Full Tilt or UB have the migration of bad players, weekend gamblers, and fish necessary for us to make the same money we were making at party/stars?

Echelon · #7 10-04-2006, 02:00 PM

I fear from TAG invasion at Full Tilt NL50/NL100...

bilbo-san · #8 10-04-2006, 06:09 PM

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I fear from TAG invasion at Full Tilt NL50/NL100...

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I just started at Full Tilt and because of the annoying deposit limits, I was stuck at NL50 (it'll take me 3 days to get rolled for NL200, lol).

I ran about 40/30 on 3 tables and was destroying the "TAGs". It was really kind of lol how accurately I read their hands. I wouldn't worry about it much at this level.

mikechops · #9 10-04-2006, 02:35 PM

I played my last hand at Party after clearing my reload bonus last night. I had a really crappy session, losing a couple of buy-ins and not winning a pot bigger than 20BBs.

I had just got my career over 200NL to 5 PTBB/100. Making money wasn't my primary objective, I just wanted to get better and was feeling good about my progress from being a SNG donk a year ago. My long term goal was to get good enough to win at $1000NL.

I am sure it will be possible to keep playing on some site or another, but I don't know if I'm going to bother. If I have to move back down because all the games tighten up, it is going to feel as if the goalposts have moved. I may just mess around with $25PL Omaha hi-lo for relaxation rather than playing seriously.

This maybe just a mood I'm in and I may well change my mind. I have to say, I'm pretty depressed about the situation now though.