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    Black Friday Coverage Part 1

    Posted by IamGreek April 15, 2011


    00:01 The emergency black friday broadcast begins at 9:13 Pacific with Marco Valerio, Dan Michalski (Pokerati Dan) and Tom Schneider live, and SrslySirius and Kevin Mathers (Kevmath) in chat.

    Tom jokes about why the sites were being shutdown. “The DOJ heard I was winning and figured that it must be rigged.” Tom had sent a text to Pokerati and woke him up with the big news this morning. Dan says he is pretty “chill” about all this. Marco compares the situation to the scene in the movie “Independence Day” where Will Smith walks out of his front door reading the newspaper and looks up to see the giant space ship.

    According to Pokerati, “the poker world changes.” Today marks new era, everything will shift and will be debated for longtime to come. Tom’s humorous observance is that spouses will be nicer to each other because they won’t experience the wrath of a bad beat, and that mouse and monitor sales will decline dramatically.

    Marco and Dan metaphorically liken black friday to the events of 9/11, comparing the two largest sites Pokerstars (PS) and Fulltilt (FTP) to the Twin Towers which are knocked down and only rubble remains with the possibility of some life underneath. Ramifications are spreading into Europe.

    12:00 Several tweets and chat posts come in regarding fact that some players can and are still playing on some of the sites. SrslySirius has just won two $0.30 pots. It appears shutdowns are happening on a state by state basis. Kevmath is still able to access FTP, ironically from New York state where the indictments were filed.

    SteveH369 is “afraid to log off lol.” Mark Gahagan can still access FTP but not PokerStars.

    Marco gives a shout-out and, with Pokerati, praises DonkDown.

    Iamsnow (not to be confused with our own Iamsnowtracks) is mentioned as the last American player on PokerStars and has 8 tables open.

    Tom attempts to log on to PS and play, and receives a message that due to government regulations, ring games are not allowed in your area. He proposes trading PS dollars for FTP dollars (which is hilarious in hindsight).

    Discussion continues and Pokerati presents a “Black Friday for Dummies” which includes a reminder that conviction rate is 91% in Southern District of NY and they would not prosecute if they didn’t think they could win.

    Tom thinks this will change who plays the WSOP if players cannot get their money. It will probably affect the ESPN coverage of the WSOP because the advertising dollars won’t be there. Mark Gahagan tweets that we will see 25-28% drop in WSOP numbers.

    38:50 DAN MICHALSKI RELIEVES HIMSELF ON AIR AND IS GIVEN A TIME-OUT BY MARCO to which SrslySirius (who has since called in) says “Can we please be professional and use bottles?” and a classic tweet from Jeff Walsh (@Pkrgssp) “Today’s events scared the piss out of Dan.” A few classic and extremely amusing moments ensue.

    On a more serious note Marco poses “Where is the PPA in all this?” which leads to a lively discussion between Marco, Tom, Pokerati and Srsly about the issue. The consensus is that they need to “lay low” for now.

    Tom thinks it is fun to speculate on how much money was actually in the players’ accounts and several over/under guesses are proposed.

    49:55 “WHAT A DAY, WHAT A DAY!” as Dutch Boyd joins the conversation. Lively discussion between Marco, Tom, Pokerati and Dutch about what all this means. Dutch thinks it shouldn’t be a surprise, but he didn’t expect it to come down today. He thinks poker is illegal and that the DOJ has a slam-dunk case. Dutch also thinks that more indictments are coming. Dan says UIGEA was about the movement of money, and the manner in which the sites chose to move the money is definitely money laundering.

    Discussion moves to who is affected besides the players by these events, i.e. affiliates, TV shows, WSOP, poker magazines, poker media, etc., basically anyone who has been relying on the advertising dollars. A couple of memorable quotes come out of this discussion by Pokerati “The sky has fallen–the shoe has fallen and other shoe is ready to drop.” Dutch Boyd says “poker is dying.” He thinks this could be good for live poker. He predicts WSOP preliminaries will do better but Main Event entries will decline. Tom agrees based on the fact that the money is currently locked up.

    65:15 Matt Stout joins the panel. He is not very shaken about the situation because he can play live and travel to other countries, and has not ruled out moving to Canada or the Netherlands to play online.

    The conversation continues about the fact that there are still smaller sites that players can play on, but Dutch cautions that depositing on the other sites is not a good idea and that people should be withdrawing any funds on the smaller sites until we see where everything settles. Dutch states that it is entirely possible that players never receive their money because he is not convinced the sites have the money segregated to be able to pay out. He continues that players who are assuming they can get their money back are being optimistic, and that PokerStars and Full Tilt Poker may not be around in two years.

    Marco screams at Tom to shut up just before he tells us that players can still play on UB.

    91:53 Several tweets from Tim00, Seanismoney, and Canadianbacon are read regarding news tickers on Fox and CNBC and that Poker After Dark will not be on tonight. (This proves to be untrue later in the segment and PAD is in fact on.)

    100.50 Kevmath calls in to join the panel and says “it’s depressing”. Discussion regarding lawsuit filed by Chad Elie against Jeremy Johnson in St. George, Utah. Kevmath is concerned about his reporting for Bluff Magazine and is not confident about the outcome. He agrees that prelims at the WSOP will increase and that Main Event will be down 25%. Matt Stout leaves the panel.

    Discussion continues with Tom predicting the following: 10-20% chance players never receive their money; 50% chance in 6 months; 35% after 6 mos.; but only 5% chance before WSOP.

    17:00 Dutch Boyd says he hopes that PS and FTP go away and that players, including him, don’t get paid. He prefaced this statement with “this is a bad thing to say but….” the point being that he doesn’t want to have to bear the brunt alone anymore for Pokerspot failing because, as today’s events showed, “it can happen to anyone.” He follows this up with his hope that he and all the players do get paid anyway.

    More discussion about the current events and discussion that PayPal was acquired by eBay and gave up processing for gambling sites because the then New York Attorney General Eliot Spitzer would not approve their merger if they did not.

    Marco acknowledges that the situation has driven him to drink McCallan for the entire segment. This segment ends with Pokerati leaving for awhile.

    This is a must-listen to segment–lots of stuff starting to break loose. Zekday0 has not yet made his QJ Radio debut.


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