They Were Kings for a Moment

The feds attack online poker, killing livelihoods and a $2.5 billion industry.

It may come down to the states legalizing it within their borders (much like medical marijuana) and daring the feds to step in. Nevada has already begun issuing online gambling licenses. Washington D.C. passed a plan for running its own online poker site. And in December, the Justice Department reversed its long-standing view that the 1961 Wire Act banned online gaming, a move many experts see as opening the door to state-regulated poker.

Maxwell Fritz, a Princeton student, made thousands of dollars with online poker, until he lost it all on Black Friday.
Will Rice
Maxwell Fritz, a Princeton student, made thousands of dollars with online poker, until he lost it all on Black Friday.
Mike Minkoff's business shipping videos and poker books has dwindled to almost nothing after the feds stepped on the online poker business.
Bill Hughes
Mike Minkoff's business shipping videos and poker books has dwindled to almost nothing after the feds stepped on the online poker business.

Yet for the moment, the future remains cloudy. Maybe one day players will again be able to provide for their families. Until then, they're just out of luck.

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11 comments
MayoYvette22
MayoYvette22

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Thetruth
Thetruth

Walter Wright is a deadbeat Dad who has no marketable skill other than poker. He LEFT his wife and children with a mountain of debt, and has sent them a grand total of $2700 in four months. He would like you to believe he is some kind of activist for the poker "industry", but in reality he is a gambling addict who spent his days locked in a room, playing poker, smoking dope, ignoring his children, and emotionally abusing his wife...Good riddance!

tee-wee
tee-wee

The idea that any of these guys have no choice but to play poker to make a living is incredibly flawed. It's stupid that this was taken away from consenting adults, but these overgrown 12 year olds should grow a pair and take care of their business, but that would make them men.

Lisa
Lisa

Your comment is completely uncalled for and flawed. Do you have the same opinion about people who worked in the mortgage industry who are now out of work? Have you been paying attention to the amount of unemployed Americans competing for even the most menial of jobs?

You operate under the assumption that professional poker players affected by this unfair treatment of their job are not trying to make ends meet by any means possible. If your job was unavailable to you tomorrow, how easy do you think it would be to just find another job to support yourself/your family?

Insulting the members of this industry highlights your immaturity. My husband has played for years, always claimed his winnings on his taxes and, most importantly, loved what he did and helped support our family. The people in the poker industry are doing hard work, just like the "gamblers" on Wall Street, and they have been punished for an activity that caused no harm.

And FYI, there are many female players as well, just like the one mentioned in the article!

Walter Wright
Walter Wright

If you are suggesting we pick up and move to another country where we can continue our professions to take care of our business . Thanks thats a good idea!

Gail S.
Gail S.

Great information. Thank you for shedding light on this story! I'm glad you are providing information on the tragedy that was our Black Friday. It is well past time to license and regulate this industry in the US. Most of the world is able to play this game of skill and strategy online and Americans, of all people, should be free to play as well.

Sheryl J
Sheryl J

- Thanks for this informative article about online poker and what the government did to it. An entire industry was destroyed last year. This is the first article that really illustrates the situation. We need federal legislation that licenses and regulates online poker in the U.S. and brings back an industry. -

Guest
Guest

This is, by no means, "the first article that really illustrates the situation."

It might be the first one you've read, but it's nothing new.

Jamie
Jamie

There is absolutely no new information in this article.

Sheryl J
Sheryl J

Maybe not if you already know the story, but there are a lot more people who have no clue what happened.

shu
shu

"He started as most do, playing what's known as the "cash game." It's simple poker — win by pushing your advantage when the cards are good and bluffing when they're not."

Wow, it's clear from this paragraph that the author is not a poker player – or a poor one. First, the definition of "cash game" is that it's not a tournament. Serious cash games have little to do with being "simple poker," in fact they're quite the opposite. If we're talking no-limit or pot-limit, cash games can require very difficult decision making under big pressure for real dollars. Unlike tournaments, which carry their own type of pressure, but which is dictated most by survival and preservation / growth of what is essentially play money (albeit, for an entry cost), versus real dollars in a cash game. Granted, there is no time / blind level-related survival element in a cash game. But there's a big difference in calling a $10K raise in real cash versus tournament chips, which may have only cost you $5 in real money.

Win by pushing your advantage: of course. Bluffing when the cards are not good: uh... sometimes, in the right position, against the right (few or one) opponents, with the right cards on the board, and based on your table image, stack, and the story you have spun during that hand and that session. I'd love to play with players that simply feel they can continually bluff their way to consistent winning sessions.

All this said, I'm actually glad online poker is potentially fizzling. The best online players are simply not playing the same game as live players. Those who constantly multi-table and play as a job have reduced an art to a science, a numbers game. Play enough hands properly over the course of time, manage your bankroll, find your sweet spot among the limits and structures, and you'll come out ahead.

While many of poker's current "stars" have successfully transitioned from the online world, a vast majority will fall by the wayside, neither having the patience, discipline or face-to-face experience to play one table or one event at a time in the brick-and-mortar world. Plus, if the successful choose to play games appropriate to the size of their bankroll, they're going to be facing much stiffer players in the real world than the "fish" who dabble online.

 
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