Wednesday, April 29, 2009

PartyPoker Announces Million Dollar Rake Race, by Tom Jenkins - Poker News Daily - 29th April 2009

In May, players on PartyPoker will have a chance to race their way to a share of $1 million. This week, the site announced one of the richest rake races ever held online. The announcement comes just a few days before the third running of the PartyPoker Monthly Million.

First place in the PartyPoker $1 Million Rake Race will take home $20,000 in cash plus a $20,000 prize package to the upcoming World Series of Poker (WSOP) in Las Vegas. Players will have the entire month of May to generate as many Race Points as possible. These are fundamentally different than PartyPoints and depend on the rake taken in a real money cash game hand. Race Points are calculated by taking the total rake per user per hour and dividing it by the total number of hands played over the same time period. That figure is then multiplied by the number of raked hands played. A special multiplier is also used and is determined by a player’s rake divided by the total number of hands played.

It’s not as complicated as it sounds. Let’s say a player generated $5 in rake in an hour over a total of 100 hands. If only 80 of them were real money hands, then the number of rake points equals (5/100) x 80 x Multiplier. The multiplier in this case is three and can be derived by checking out the $1 Million Rake Race landing page on PartyPoker. The leader board will be updated at least once an hour so players can see where they stand. The runner up at the end of May will take home $18,000 plus a $20,000 WSOP package, third place pockets $15,000 and a WSOP package, fourth place earns $10,000, and the top 3,000 players will finish in the money.

The fourth through tenth place finishers plus the players who land in 50th, 100th, 300th, 500th, 750th, and 1,000th will win a $5,500 WSOP Experience prize package. These consist of one $1,500 buy-in to a side event of a player’s choosing, seven nights’ hotel accommodations, and travel for two. In addition, winners of the package have the ability to experience one diversion during their stay, including trips to nearby attractions such as the Grand Canyon, Hoover Dam, Las Vegas Motor Speedway, and Red Rock Canyon. Alternately, players can cruise the famed Las Vegas Strip in a helicopter or rove the desert in a dune buggy.

PartyPoker.com spokesman Warren Lush told Poker News Daily, “The Million Dollar Race is the biggest rake race for cash game players that we have ever offered on PartyPoker. The rewards are great, with the top ten winning WSOP packages and cash, but it has been structured to offer significant rewards all the way down to 3,000th place. This is just one of many great promotions that we have in the pipeline in the coming months.”

The PartyPoker WSOP qualifier takes place on Fridays at 18:10 ET and Saturdays at 14:15 ET. It awards a $12,000 Main Event package for every 20 players who enter and comes with a buy-in of $640. Several entries to it are up for grabs as part of the Million Dollar Rake Race, as the 1,250th, 1,500th, 1,750th, 2,000th, and 2,500th players will win their way in. Daily Satellite and Daily Final entries will also be given away.

This weekend marks the third running of the PartyPoker Monthly Million. The $1 million guaranteed prize pool tournament occurs on the first Sunday of every month and boasts a buy-in of $640. Players start with 20,000 chips and blind levels last 20 minutes each. The price of poker begins at 25-50 and then grows to 50-100 and 100-200. A five minute break takes place after every three levels and antes kick in starting at Level 6. A Mega Friday Satellite is one of the last chances players have to win their way into the high-stakes monthly tournament on PartyPoker. The $55 buy-in contest kicks off at 17:00 ET and guarantees at least 20 seats into the Monthly Million. Players can satellite in for free by participating in country specific freerolls and PartyPoints qualifiers.

According to traffic ranking site PokerScout.com PartyPoker is the fourth largest worldwide with a seven day running average of 4,450 cash game players. It is the second largest that does not accept U.S. players, trailing only the iPoker Network, which includes rooms such as Boyle Poker, CD Poker, Chili Poker, Mansion Poker, Paddy Power, Titan Poker, Tony G Poker, and William Hill. PartyPoker is owned by Party Gaming, a publicly traded company on the London Stock Exchange. (Credit: Poker News Daily)

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Tuesday, April 28, 2009

Party Poker May Million Dollar Rake Race - 28th April 2009

Party Poker are celebrating spring with an excellent million dollar rake race taking place throughout May. Part of the Party Gaming Group, the poker site has quickly become popular with players , largely due to its promotions and extra features.

The May Million Dollar Race will involve 3000 players all competing to win a part of the $1,000,000. Beginning on the 1st May the monthly race is expected to attracted thousands of players.

The user who finishes at the top of the leaderboard will take home a huge $20,000 as well as a WSOP package worth the same amount. Simply play at Party Poker throughout May and try to win as much as possible.

The top ten players will all win a WSOP package which includes, travel, accommodation, entry fees for the event as well as spending money.

A PartyPoker.com spokesman said, “This promotion is simple - the more Race Points you earn the higher up in the leaderboard you climb and the more cash and prizes you can win. We are under starters’ orders and off for our biggest ever rake race this Friday. The race has great prizes from 1st through to 3000th!”

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Tuesday, April 21, 2009

Free Upper Class Vegas flight for every WSOP player

21st April 2009

The World Series of Poker (WSOP) is the oldest, largest, most prestigious, and most media-hyped gaming competition in the world and as such Virgin Poker is NOW running WSOP online satellites.

Now until 21st June 2009

Join one of these satellites and win either a €5,000 or €10,000 WSOP package, Virgin Poker will throw in 100,000 Virgin Atlantic Flying Club Miles – that’s enough for the winners to get there for free, and in style!!!

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Wednesday, April 15, 2009

Former PartyGaming CEO Hired By Harrah’s, by Earl Burton - Poker News Daily - 14th April 2009

On Sunday, the London Times sent shockwaves through the land based casino industry as well as the internet gaming world with a small article regarding the recent actions of one of the largest casino operations in the world and a former online gaming CEO.

It was announced in the Sunday Times Online that Harrah’s Entertainment – responsible for much of the casino action in not only Las Vegas but the United States as a whole and the owner of the World Series of Poker – and former PartyGaming PLC CEO Mitch Garber have entered into an agreement for Garber to join the organization. What isn’t known is what capacity Garber will have within Harrah’s or what effects it will have on the World Series itself.

Garber, who resigned as the CEO of PartyGaming in early 2008, is thought to be taking a leading role in a reorganization of Harrah’s online operations into a stand alone company that will also encompass the WSOP. After several recent developments in the online gaming world, it is believed that Harrah’s is envisioning that the legalization and regulation in the United States will happen soon and wants a qualified leader to be able to run the resulting operation. With Garber, Harrah’s has landed such a leader.

Garber led PartyGaming through much of its tumultuous last few years after the passage of the Unlawful Internet Gaming Enforcement Act (UIGEA) and the resulting move of PartyGaming to pull out of the American market. While with PartyGaming he focused on international expansion through product diversification and a series of mergers and acquisitions. These efforts helped PartyGaming to absorb the losses of the American market with little effect on PartyGaming’s bottom line.

There are different theories as to if, and/or when the legislative mood regarding online gaming in the United States will be changing. In a recent interview with The Hill, Massachusetts congressman Barney Frank, the chairman of the powerful House Financial Services Committee, stated that he plans to introduce internet gambling legislation after the Easter recess. The Hill noted that the week of April 20th is a likely time frame for the bill’s introduction and that it would create a complete licensing and regulatory framework for the internet gambling industry.

This line of thought is tempered by the current economic and political climate in the United States, though. With the ongoing financial crisis affecting not only the U. S. economy but the situations of most nations worldwide, many believe that the legalization and regulation of online poker and gaming is far down the list of priorities of the U. S. Congress and the Obama Administration. Although the taxation dollars from the online gaming industry - which garners an estimated $12 billion yearly - would be helpful to the American government, other more lucrative financial moves are expected to be implemented first.

Gary Loveman, CEO of Harrah's Entertainment, has said online poker's legalization is a strong possibility in the United States and recent activities regarding online poker operators have demonstrated that the winds may be changing. In December, former PartyGaming founder Anurag Dikshit pled guilty to violations of the 1961 Wire Act and paid a $300 million fine. Just last week, Garber’s former company PartyGaming also settled their grievances with the U. S. Department of Justice, agreeing to a non-prosecution arrangement and payment of a $105 million fine over the next three years.

With the hiring of Garber to run the online operations of a newly created branch of Harrah’s and – if online poker is a part of that operation – the WSOP, it does appear that Harrah’s is preparing for the day when online poker and gaming will be legal in the United States. Whenever that day may be. (Credit: Poker News Daily)

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