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    Black Friday 1 Year Anniversary Show pt 1/3 | QuadJacks Poker Radio Network April 15 2012

    Posted by Quad Jacks April 23, 2012

    BLACK FRIDAY–ONE YEAR LATER……..

    Part 1


    Right click save as to download

    BLACK FRIDAY–ONE YEAR LATER……..

    0:00:01 Marco opens the show by announcing “Today is supposed to be fun.” and that we will “Learn, Chat and Mourn with the Wombats.” Marco and Zac are at their best just bantering back and forth with each other over the obligatory cocktail to mark the occasion and inviting listeners to join the show via Skype to share their memories and reminisce about the day that changed so many lives and the entire poker landscape as we had come to know it.

    0:00:17 We are treated to the debut of a new QuadJacks production called “A New Sunday” performed by Sonny Caine and DRybes commemorating this anniversary. We also hear a cut requisitioned by Zac from these new QJ talents that took only
    ten (10) minutes to write and record titled “Flip Like A Dolphin”.

    0:26:00 Marco and Zac recount how they experienced that fateful day and how QuadJacks came to be.

    0:36:35 Our first guest is Eric Danis (aka Steve from Ontilt–private joke among QJ listeners. We’ll give you a hint–catch some of the PKRGSSP shows and be prepared to laugh hysterically). Eric is the co-host of POKER EH! (very informative and funny show on the QJ Channel). He tells us that Canada was not affected as much as the U.S. by BF although Canadian players are still wondering if they will be affected in the future. He misses watching all the poker shows that were sponsored by the sites, i.e. High Stakes Poker and Poker After Dark among others.

    Marco and Eric discussed how FullTilt was trusted more than PokerStars at the time to return the confiscated funds. No one envisioned how the events have unfolded and played out. How could we?–the best and most famous players were representing FullTilt and assuring us our funds were safe. We were all so naive and trusting–hopefully a hard lesson learned.

    1:02:20 Mike Stein a Blog writer with Quantitative Poker (who has never been on the show before) says regarding BF “This was huge”. He believed BF was going to be poker’s day-in-court. At the time, he thought PokerStars was ready to go to court and prove that poker is legal and that there would just be a 9 to 12 month delay in being able to go back to playing. However, when FT closed its doors to the “Rest of the World” (ROW) players in July, 2011, he lost faith in that happening anytime soon.
    He has a “Black Card” which he treats as a large IOU and uses it as a paper weight.

    Marco believes that the worst thing FT did was to continue to accept ROW deposits and telling players their funds were safe and secure even when they knew they were not. In his estimation, this is worse than not paying the players, although he feels that too is unconscionable. Eric feels that UB/Absolute are getting a pass in all of this because everyone has quit talking about them and made FT their focus.

    Mike tells us that it is very easy to think that regulators were doing their job and protecting the poker community when that was obviously not the case. The panel all agreed that the one good thing that has happened out of this debacle is that the community has gotten so much smarter in how the gaming industry works and gotten more involved in the legislative process.

    1:38:00 Chris Torina (former law enforcement officer) and current CEO of
    Deep Stacks Live joins the panel. BF was not bad for him on a business level rather his business has accelerated. Even though he and his associates have money on the sites, he believes this is actually good for the industry, especially if the players get paid. BF forced players to grind the live games and to do things the hard way. He sees a trend for sites to partner with brick and mortar casinos for intra-state gambling with Nevada being the first state to do this.

    Chris feels there could be a second wave of investigations in the next year that will ultimately benefit the players because when everything is cleared their money will be secure and protected and possibly even insured.

    No one can dispute that crimes were commited however he wishes the DOJ had given players an amnesty period so players had the opportunity to withdraw (if it was available) so they would not have had to leave the country to make a living.

    “PokerStars and FullTilt were involved in a game of chicken”–not wanting to be the first to leave the U.S. as Party Poker had done. They were greedy and would not concede the U.S. market to the other.

    The panel feels that Howard Lederer needs to come forward and explain his side of the story even if absolved of all charges in order to be accepted back into the community, although it may be too late now. Even if he was advised by counsel and the DOJ to say nothing, there are things he could have addressed, which could lead to forgiveness by the community.

    2:07:00 Steve Price (aka Wicked Chops) joins the panel and recalls that after seeing a tweet he called Ty Stewart at WSOP who informed him that BF was real. Chops was not surprised it happened. He said he got a “bad feeling” when he saw Howard Lederer’s pic on the cover of Bluff for the top 20 most influential people in poker. On BF and subsequent days thereafter, he spoke to several people he knew at FullTilt who told him they were in chaos. Howard told him in a conversation that the DOJ was going after payment processors and not the operators. Howard said the DOJ told him that so he was not worried.

    PokerStars was prepared for this scenario and had a plan to deal with it which is why the players were paid back so quickly. UB was surprised but thought it might blow over. People did not have respect for Ray Bitar–they were afraid of him. Steve said that he liked Howard except for the fact that Howard felt superior to others in that he felt he was the smartest guy in the room. Chops felt that Rafe’s statement sounded like a pity-party but at least he said “something”. Disheartening that the others did not.

    Chris believes that the DOJ of New York and the DOJ of Maryland have different goals in the prosecution. They do not have to give the money back. NY is considering refunding while Maryland is not. Chris is surprised that NY is even considering it.

    2:37:03 Dan Makowski (aka Pokerti Dan) comes on the Panel as Mike Stein leaves. Discussion ensues regarding a post Pokerti wrote on 4/20/2010 about the arrest of Daniel Tzeltkoff in Las Vegas. PokerStars and FullTilt were mentioned by name in the investigation documents by the DOJ, so they should have known this was coming but they were denying it. Dan spent the days following BF sifting thru all the information that was coming to light.

    Dan believes the poker media has changed in the last year. He believes we are back to the way the world was in 2005. He predicted there was no way players were getting their money back from all the sites on BF and acknowledged he was only partially correct inasmuch as PS did refund players.

    The panel agrees this has been a very long year filled with scandals including Epic Poker, Chino Rheem, et al.

    2:42:00 Marco graciously gives me a shoutout for the re-cap I did on the first three hours of the Black Friday broadcast which included Dan’s historic relieving of himself on the air. Thru a partial reading of that post, it was revealed that Dan heard about Black Friday in the morning by a call from Tom Schneider.

    IamGreek

    Listen to Part 2 click here now.

    Listen to Part 3 click here now.

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