Online Poker News Blog » UK Poker

Party Gaming Stock Looking Up

James — Thu, 30 Aug 2007 00:22:58 +0000

Motely Fool has an article about the current state of PartyGaming. The company that runs Party Poker, one of the largest online poker rooms. When the UIGEA hit, the company lost 75% of its business overnight. Since then, they have been focusing their efforts in Europe and other parts of the world and have been making a strong comeback to immense profitability. One of the strongest gaming markets is Germany where they have been advertising Party Poker.de with great success.

In July and August they had a daily revenue of $1.4 million dollars and were signing up 1,192 players a day. Many UK football clubs (around 70) have agreed to promote party gaming exclusively for three years.

Poker currently accounts for 2/3 of the revenue with casino and the sportsbook sites gaining in popularity. Poker in the peak of party poker accounted for 86% of the companies revenue.

The company is looking very strong and will have a price to earning ratio of 12.7 and 25.7 in 2008. It looks like Motely Fool seems to think that PartyGaming may become a better bet then most would have imagined after the 2006 UIGEA bill.

Yahoo Online Poker

James — Sat, 28 Apr 2007 00:35:53 +0000

Yahoo has just entered into the online poker arena. If you live in the United Kingdom you will be able to play at the Yahoo! Poker Online website. This is the first time that a major online portal has offered a real money online poker option. Many companies including aol, msn and others offer a free version of texas hold-em poker. Yahoo is offering a sign up bonus up to $1000 and you can deposit for as little as 10 pounds. They also have a VIP members club where frequent players can receive monthly rewards.

EPT Grand Final Live

James — Fri, 30 Mar 2007 21:52:33 +0000

At EPTLive you can watch the EPT Grand Final in Monte Carlo. It is sponsored by Poker Stars which I am guessing is paying the bandwidth fee’s to be the official sponsor and making the webcast possible. It will be broadcast for 3 days in 10 hour time spans.

DAY FOUR, TV TABLE: Saturday, 31th March, 1400 local time (0900 ET).
DAY FIVE, TV TABLE: Sunday, 1st April, 1400 local time (0900 ET).
DAY SIX, FINAL TABLE: Monday, 2nd April, 1600 local time (1100 ET).

Phil Hellmuth Loses 536k to Phil Ivey in Chinese Poker

James — Fri, 30 Mar 2007 18:33:56 +0000

Well looks like Phil Hellmuth didn’t have a very good day on Tuesday this week. He was interviewed by poker news who asked him how he was doing while playing at an EPT Poker Tournament. He mentioned losing a hand earlier in the tournament and then talked about how he lost $536,000 to Phil Ivey during a game of chinese poker. He is now pumped to win the tournament because he feels he lost 536k to Ivey, paid down another half million on his mortgage and also donated 50k to charity all in one week. What did you do this week?

Online Gambling Regulation in the UK

James — Mon, 26 Mar 2007 20:47:49 +0000

The US has decided that they are going to prohibit online gambling in the US. This method has never worked in the past (alcohol prohibition) but that has not stopped the US government from trying. The UK on the other hand is dealing with the problem the right way and are regulating and taxing online gambling companies. I guess the US just doesn’t need the money as the billions that could be raised by taxing gambling just doesn’t seem to interest the US. What are your thoughts? Are we throwing a great opportunity out the window to tax and regulate gaming? It seems we have the biggest deficit ever with a war that we can barely support…

Neteller In Agreement to Return Some Seized Funds

marc — Fri, 23 Mar 2007 08:20:38 +0000

We can all breathe a collective sigh of relief.

Neteller recently signed an agreement with the United States government that will (or should) permit the weakened company to disperse over $50 million dollars of seized funds back to their customers/poker players.

Unfortunately, it looks like the return of your money will take quite a bit of time - as Neteller is currently developing a plan to give your money back. However, it will take up to 75 days to develop this plan and then an unspecified number of days to execute said plan. You’d think they were coming up with an exit strategy for Iraq.

How terribly hard is it to check accounts and prior balances and give them their money back? Obviously, they aren’t locked out of their own accounting systems and should (or at least I sincerely hope) have kept at least some sort of non-faulty transaction record.

Again, as with this whole debacle of the unfair gambling act and Neteller’s apparent demise, only time will tell the true story. Here’s hoping all of us affected (myself included) see our cash in a quick and efficient fashion (ie, ASAP).

Ladies Professional Poker Tour

marc — Fri, 23 Mar 2007 08:12:02 +0000

I’m going to call sexist discrimination here, as we’re unable to have a males only poker tour; but I digress.

This past week at the Bicycle Casino in California, the first event of the Ladies Professional Poker Tour (LPPT) took place. It was a $550 Buy-In Event, with 91 fierce (and sharply dressed) competitors battling it out for a prize pool of over $45,000.

First place of $18,000+ was taken by Teresa Sanchez, a mother of four from Bakersfield. The first place was decided by a chip count at 2AM following a full day of play and the inability of one player to stay and play the next day.

No notable female players made the final table and it looks like the field consisted almost entirely of ‘amateurs’.

UK Online Gambling Tax Annoucned

James — Fri, 23 Mar 2007 05:06:57 +0000

The new tax for UK Gaming was announced by Finance Minister Gordon Brown today. The gambling industry expected that the new UK tax would be low enough to encourage online companies to locate in the UK. This was not the case as the tax rate was set at 15 percent a far cry from the predicted 2-3% needed to convince operators to relocate their companies in the UK. It wasn’t just online gaming companies that didn’t fair well in the new tax structure as there was a potential lower tax rate for smaller brick and morter casinos. This did not happen and what they did change was a new 50% tax rate for the more profitable casinos.

UK Gaming Tax Restructuring

James — Thu, 22 Mar 2007 02:45:15 +0000

Most online poker rooms are currently located in Gibraltar and Cyprus outside the UK. This is because they are able to run legally without having to pay high taxes. Since the UK legalized online gambling in 2005 they are now trying to attract the companies to relocate in the UK and pay them taxes.Â Chancellor Gordon Brown is set to announce a new low tax called the Remote Gaming Duty. The online gaming tax rate will range from 2 to 15 percent.Â This may backfire partially as brick and morter casinos may get upset because they currently pay close to 40% of there revenue in taxes.Â It will be interesting to see how this plays out and if online gaming companies will move to the UK for the legitimacy it would bring to them.

Danielle Lloyd vs Teddy Heads Up Poker

James — Wed, 21 Mar 2007 00:06:19 +0000

Danielle Lloyd a 23 year old model who is now backed by ladbrokes will be going up against her ex boyfriend Teddy Sheringham who is backed by rival casino Victor Chandler. It is reported that there will be a 100 million pound poker match between the two (I don’t know the specific details as 100 million pounds seems a bit too big for a “celebrity poker match”). It does look like they will be rival poker promoters who will definitely meet each other in poker tournaments across Europe.