Poker Newsflash. Is Online Poker Rigged?
Is it? What about Full Tilt closing down and leaving customers high and dry years ago? What about the new charges of insider trading involving Poker Stars owned by Amaya’s CEO and others being recently charged. It definitely raises red flags and more questions.
Are we looking at the next big scam? How come the little guy keeps getting hosed and the rich break laws, get hands slapped and do little time and then still reap their millions of dollars all the time? Will that happen again or will Canada lead the way against corporate crime and penalize these people heavily if found guilty?
Of course these are just charges and all parties are innocent until proven guilty. Perhaps charges will get dropped? Maybe they will get worse? Maybe they will plead no contest and pay their way out like most rich people in the upper echelons of society are allowed to do unlike you or I. It will be interesting to see how it all pans out.
Charges Laid Against Poker Stars CEO
The CEO has been charged with aiding with insider trading and others have been charged with insider trading directly. This is Big Poker News. More bad news though unfortunately for online poker fans.
How far down does the rabbit hole go? If you are willing to insider trade and break laws what other laws may you have broken no one knows about?
Was the US government correct in shutting down online poker several years ago? Will this be yet a further blow to online poker going forward?
Lots of questions and things to unfold in the future. Time will tell and it will take years as law suits and charges going through the bloated court system usually do.
Is Poker Software Legit?
What about the rigged software allegations everyone makes? It certainly does seem to be full of action at Pokerstars tables so a lot of people claim.
What about hacking? What about others being able to see your cards? Can they? Can the people at Stars headquarters? I mean really, if they can replay your hands with your 2 hole cards up and exposed then what is to say they cannot see them while the play is taking place? Hmmmm makes me wonder, and it makes me wonder sang by Robert Plant from Led Zeppelin automatically pops into my head. Yup lots of things to make you wonder that is for certain.
Full news article about Amaya Inc. founder and chief executive officer David Baazov and several associates here http://www.theglobeandmail.com/report-on-business/amaya-ceo-david-baazov-others-hit-with-23-charges-by-quebec-regulator/article29358824/
Should I Still Play Online Poker? Is it Legit?
Do I think Online Poker is legit, yes, I have put money in and taken money out from Party Poker.
I have deposited very little to 888 Poker but have withdrawn far more so that makes it really legit in my eyes and I cashed in on free-roll play and that’s some good poker news right there. $800 Dollars for 3rd place in a big free roll a couple years ago. Send in your licence, or passport and utility bill proof of residence and bang my cheque arrived in just under 2 weeks. Now as of 2017 You can just have money put right into your bank account. Super easy to set up and just a couple of clicks in 5 days or so they deposit direct to your account. Nice!
Never have won enough to take out at Poker stars or Full Tilt, just put in. I have a bad vibe about their software. No evidence, no proof, just don’t like them. I also do not trust someone who bought so many pros to endorse the site.
I do not like Full Tilt or Poker stars for several reasons and will not recommend them to anyone. Too big for their own britches. Like the banking system. Too big to fail. No evidence, no proof, no allegations I just don’t like them. Feel like its rigged for action, feel like they dont care about the little guy. Is it rigged? Many people feel it is so, my trips being beaten several times in big tournaments like the Sunday Million by bigger trips, again, makes me wonder like everyone else but I am sure it is safe though, just do not like the algorithm I guess. AND Losing lol….
Why do some sites still Promote Full Tilt? lol… update your pages
I also don’t trust or read any website or blogs that promote or has Poker stars or Full Tilt on their page peddling them for signups either. How can you read and trust a blog or picture window pasted website of slot machines and poker buttons that promotes Full Tilt after they have shut down before? Once bitten twice shy I say.
What about Stars now? I always thought online poker was for fun, and real poker at a casino is for making money. Yes this Poker News of Insider Trading is something else. Are you not tired of all these poker tip sites high in the serps with banners and promos of poker sites that have long since shut down. Yup me too.
Bad Vibes I got out of Full Tilt and Poker Stars
There are other online poker sites I like much more than Poker stars or Full Tilt. I always had bad vibes about Full Tilt and it closed. I also have had bad vibes about Poker stars and now Full Tilt is becoming one with Stars and well you see for yourself what is also happening now.
What is going on behind all the curtains anyway. If one room is black, what will the color of other rooms in the house be? Maybe Poker Stars was once great but is it still now that Amaya owns it and its CEO whom is charged with insider trading is talking of taking it private? Hmmmmm. It does make me wonder enough to be glad I stopped playing there some time ago.
Watch out for Review Sites online that talk all roses
Perhaps you should lighten up on Stars and play somewhere else for a while until the dust clears. Maybe also reconsider signing up at websites or blogs that recommend you play at good sites and not at ones that have closed down before. Full Tilt and Poker stars should carry warnings from any site promoting them at the very least, notifying you at least of the past circumstances and current overhanging clouds in the air. Perhaps its time to leave Poker Stars for good?
Poker News UPDATE: Amaya Chairman and Chief Executive Officer, David Baazov, is stepping down under leave of absence while defending against 5 various charges regarding insider trading laws. These include “aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of the securities of Amaya inc., and communicating privileged information,” according to a statement from the AMF.
Charges were also filed against Benjamin Ahdoot, Yoel Altman, Diocles Capital Inc., and Sababa Consulting Inc.
Wow Really Mr CEO?
What is really baffling is how you can publicly buy up Poker Stars and Full Tilt with a public traded company, the stock triples in price and who knows how much money may have been made illegally and now the CEO is stepping down and wants to buy the company and take it private a few years later? With an all cash offer? Whooo Nelly, hold on a bit. Lets let the dust clear first.
Charges have not been dropped yet. Is all your money legally obtained you plan on buying the company out with? Hmmm, not sure I like the smell of it all. Seems funny, buy company, stock goes way up and they spent most of the cash paying down debt within the company the last couple years, and now want to buy the company for cash? With unnamed investors? Did any of these unnamed investors make money off of privileged information? Who are these unnamed investors? Hopefully not any of the people currently charged by the AMF. Then approx two years later…
June 2018 Charges get Dropped
Prosecutors drop the ball and let Amaya ex CEO off the hook. 3 times the prosecutors make errors and the judge slams the door shut on the case. Justice is not served, it is covered with grease and allowed to slip through the cracks on technicalities. The Mounties forget to grab his phone during the evidence round up, later they go back and find it has been “changed” and no evidence exists on it now.
How convenient. Seems as though the Quebec securities watch dog along with the Mounties may have bungled the biggest insider trader case in Canadian History. Several people profited and will get away with it so it seems. So much for the securities industry.
What a tangled web we weave in Online Poker
Wow. We need some more information on all of this as is seems to be getting quite interesting. A cynic could hypothesize that it was planned all along through the communication of privileged information to make several people rich and then plan to take the company over a few years later with the cash everyone made all the while paying down debt.
Not that it happened that way, but who knows, it would be a good plan and a quick way to gather up the funds within your inner circle of cronies to take the company over. A cash cow company at that. Poker Conspiracy Theory? We will find out. It may take many years though. Potential movie in the making! Wolves of Poker Bay Street.
Additionally, the AMF said that it had executed search warrants and ceased the trading privileges of 13 other individuals tied to the investigation. So the CEO is not the only one in the spot light.
Another thing I don’t like is the asking price seems to low for the company. What do readers think?
Is the offer price to low at 21? especially with a Sports book and Casino coming online?
Should the CEO be allowed to tender an offer with an undisclosed investment group until more is known?
Poker Stars Bought By Amaya and Goes Rogue on Affilliates
Poker Stars re vamped its online affiliate program and chose to leave long standing affiliates with bad tastes in their mouths. Cutting income in half or more for long time affiliates on revenue share plans, changing terms and conditions for affiliates and ramming down their throats a take it or leave it proposal, which pays far less then it used to.
They cut payment limits to 2 years on long time affiliates, breaking and changing long standing contracts and are classified as a Rogue Affiliate by a top affiliate watch dog site. If they cannot live up to deals made with affiliates who helped them get so large, how can they be trusted with payouts and fair gaming. Especially after being charged with insider trading. Thoughts to ponder. Read the news and you decide.
In the End All is Well
People made gobs of money, no one got in trouble and Mr CEO, sold the bulk of his shares, cashing out of the venture. Such is life. Everyone gets rich and no one is guilty.
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