Category Archives: rant

US Missing Out On Gambling Tax Windfall

Godfrey provides some staggering numbers regarding the billions of dollars that the United States is leaving on the table by not legalizing and regulating internet gambling. I mean really — haven’t we seen enough jobs lost in the past 5+ years across a wide range of industries to convince us that we need to find new industries in which compete and perhaps even dominate?

U.S. lawmakers — open your eyes.


Check Payout Delays at Doyle’s Room

11 May 2009: Received the check today and deposited in the bank. Will keep you posted if it clears. Even when it does clear, I’m not inclined to raise Doyle’s Room’s star rating above its current level of 2 (below average).

02 Apr 2009 Update: I just received an email from Jessica M., stating in part that: “I”m please to inform you that a check for $xxxxx dollars has been sent and you should be receiving it in a couple days more (5 to 8 days). The check number is xxxxx.”

Check payouts from Doyle’s Room have been delayed for 8 weeks. I’ve been in contact with Doyle’s Room in the past days and have been told that all payout requests since around January have been delayed.

Doyle’s Room moved to the Cake Poker Network about that time, and also picked up new payment processors. It was explained to me that both of these events are responsible for the delay.

Unfortunately (it was explained to me) there’s nothing that can be done to expedite anyone’s payout; they are being processed FIFO (first-in, first-out), and I was told that my check is still weeks away from arriving at my Ohio address.

To make matters worse, Doyle’s Room does not offer any electronic payout methods such as QuickTender, eWalletXpress, or Direct Deposit. Generally, payouts via these methods take days, not several weeks.

As a result of the payout delays at Doyle’s Room, the fact that they have no timeline for when this issue will be solved, and the fact that I have seen no formal communication from them about these delays, I am recommending that: (a) existing Doyle’s Room players make no additional deposits at Doyle’s Room, and (b) poker players looking to open an account on the Cake Poker Network look elsewhere, such as the 5-star rated BetUS Poker and Cake Poker.

Finally, I have reduced the star-rating for Doyle’s Room from 4 (above average) to 2 (below average).

While I have a high degree of confidence that all payments will be made, I guess we’ll just have to wait and see. I’ll keep you posted on their progress toward resolving this frustrating issue.

(Note: The information present on this blog is intended for entertainment purposes only. Please check your local, state and provincial laws before you gamble online. If your local laws prohibit online gambling then we recommend you consider an alternative form of entertainment.)


US Gamblers: STOP the Bush Administration r.e. the UIGEA

The outgoing Bush administration is trying to pull a fast one in its last days in power. According to a 11 Nov 08 Dow Jones Newswire:

The Treasury Department has finalized regulations that would effectively ban online gambling in the U.S. and is trying to have them implemented in the waning days of the Bush administration.

The controversial rules would make it illegal for banks to process credit card transactions from most Internet gambling sites.

Their implementation has been opposed by groups advocating individuals’ right to gamble, the banking industry, Democratic lawmakers in Congress and even officials at the Federal Reserve.

The rules stem from a last-minute addition to a law passed in the final hours of the Republican controlled Congress in 2006. The provisions related to online gambling were included in an unrelated port security bill.

The wire goes on to say that it is “…standard practice for outgoing administrations to finalize controversial regulations before leaving office, a practice known as a midnight drop.”

Really? The global financial markets are in crisis and the U.S. government — our government — wants to add more work for our banks? I don’t think that this is where our priorities should be at the moment!

Have your voice heard by providing feedback to the Federal Reserve Board via their Contact Us page. Select the second radio button, select Consumer complaints from the drop down list, and enter your views in the text box. Here is a template that you can use to get you started.

I am writing to express my concerns regarding the Treasury Department’s finalization of regulations to enforce the Unlawful Internet Gambling Enforcement Act of 2006. I understand that the regulations were finalized and forwarded to the Office of Management and Budget on Oct. 21, 2008, and am opposed to their being put into practice.

There are two reasons why I am opposed to the implementation of these regulations:

1. The global financial markets are in turmoil. The world is looking to the United States banking system to provide the stability necessary to get financial markets back on track in as short a time as possible. If the proposed regulations were put into practice, this would result in lost time, energy, and effort on the part of our banks in dealing with compliance with the regulations. Our banks’ priorities need to be on staying solvent and providing leadership in this time of crisis!

2. The impact on the average American citizen has not been studied. If US banks were required to comply with these regulations, there is no telling what the impact on the bank’s customers may be. The issue needs to be studied, and that study must include thought-leadership from the banks themselves, and not lawmakers.

If you want to call them, please do!

  • Consumer Complaints, 888-851-1920
  • Public Affairs, 202-452-2955

MLB: June 6

Here are today’s picks, made moments ago at Intertops.

Teams O/U Runs Terms Wager $ Edge %
sea@bos U 9.0 -110 22.00 41
bal@tor U 8.5 100 20.00 59
tam@tex U 9.5 -125 25.00 63
min@cws U 8.5 -105 21.00 53
mil@col U 9.0 -110 22.00 33
laa@oak U 7.0 100 20.00 31
Total wagered: 130.00  

I’ve continued to post my MLB totals picks each day. Overall, I am 75-70 (51.72% winning percentage), for a net loss of $31.28 (-0.97% return on investment).

This briings to mind a point to consider if you read on the internet about a guy whose sports handicapping system is “9-3 in his last 12 SOLID LOCK PICKS” (or some similar claim). The point is this: Your record is irrelvant. What is relevant is your return on investment — how much money these picks made relative to the size of the bets that one had to make to win the money.

Here’s an illustration of my point: Suppose a handicapper claims to have a 9-3 record in his last 12. This could easily have resulted in a net loss if each of his picks was a heavy favorite, say -300 or worse. In fact, if each of his picks were at an average of -300, a 9-3 record is break even, and actually will have cost you money once you factor in the price of making deposits and withdrawals at some online sportsbooks.

I’d really love to see handicappers post their return on investment, rather than their win-loss record, when touting a sports betting system.


Not News – Cincinnati Reds Slumping

The time NOT to be at a live sportsbook is when your team is slumping. Allow me to explain where this is coming from….

Earlier this month, I sold my house and left the Bellevue, WA area after two years. On the day the house closed, I headed for South Lake Tahoe, CA where I’d spent many a long weekend. They have casinos and sportsbooks right across the state line in Stateline, NV. While I was there, my favorite team — the Cincinnati Reds — played a total of six games. They lost five of them – and I lost each and every one for $200 each. The one game they did win was in the morning, and I’d overslept and was not able to get a bet down on that game.

There. I feel better.

You can make a bet on the Reds — or against the Reds if you have any sense — at any one of a number of online sportsbooks. I personally recommend Intertops, which is currently giving away to new customers a $20 free bet after making your first $20 bet. You can also try, which is currently running a 100% match up to $200 for new members.