Thanks for all the replies. I'm really only interested in the first prints in the aftermarket. I'm out the door in the first few minutes. Any color or thoughts on trades initially on the secondary market? Flat, +10%, +50%, +100%, negative? Thanks!
You went from 1k a day to nothing? I just paid 10k to a CardMaster to learn how to play poker cause I heard thats where the big money was. Oh well. I hear condo flipping in Miami is getting hot. On a more serious note, I really hate cards, so I never messed with this latest hustle. Too bad for me. If you think Poker is hot, check out the scams that are rampant in the online role playing games. Huge money being made by pimps hiring low paid workers in Asia, who 'mine' the games for 'gold' and relics, all ficticious mind you , and sell them for HARD GREEN to morons. Barnum, you were freaken right. PS, what streetcorner do you make that 1k a day in your spare time now? got room for an apprentice?
I'm actually kind of glad that poker is now gone from my life. I was making good money (Not as good as daytrading '98-'00, but nothing compares to that magical era), but professional poker was the most monotonous and boring work I'd done in years. Not all pros suffered the severe mental burnout that I did, but every pro online poker player I know personally has seen a massive drop in profitability this year. I'm back at trading now. It isn't 1999, but sometimes GOOG almost gives that same feeling. P.S. yes it's true. People pay real money for RPG coin. People are actually bidding here: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=4596&item=8198422880&rd=1
Online gambling tycoons face jail threat Ian Cobain Thursday June 16, 2005 The Guardian London's biggest stock market flotation for years has been overshadowed by advice from Washington that the four dotcom millionaires behind the venture risk arrest and prosecution in the United States. PartyGaming, operator of a hugely profitable poker website, is expected to be valued at £4.76bn when it floats on the stock market in 11 days' time. The offering will transform one of its owners, Ruth Parasol, the daughter of a former San Francisco massage parlour tycoon, into one of the most successful female entrepreneurs in history. While the company's activities are legal in the UK, the US justice department is warning that operators of online gambling enterprises could be prosecuted and, if convicted, jailed for years in America. Internet gambling companies occupy a legal grey area in the US, with many in the industry insisting that case law shows them to be legitimate, while the justice department insists they are outlawed. According to the department, online gambling operators such as Ms Parasol, 38, her husband, James Russell DeLeon, 39, and their partners, Indian computing experts Anurag Dikshit and Vikrant Bhargava could face prosecution under three federal statutes: the Interstate Wire Act, the Illegal Gambling Business Act and the Travel Act. These carry penalties of between two and five years' imprisonment for each offence. The company prospectus, published yesterday, concedes that its activities "are considered to be illegal by the relevant authorities" in the US, but says case law has established that online poker sites are excluded from the legislation controlling gambling. It also says its four founders have travelled in and out of the US with impunity. Ms Parasol and Mr DeLeon have declined to give interviews, refused to be photographed and are rarely sighted in Gibraltar, where their company is registered and they are said to be living. Mr Dikshit, 33, is also maintaining a low profile, leaving Mr Bhargava, 32, as the public face of PartyGaming. The company denies that is due to concerns over the legal position in the US, and insists that the company's founders want only to lead normal lives after the flotation. The justice department's warning is likely to increase anxiety among US investment institutions, some of which are reported to be reconsidering whether to back PartyGaming. When the company announced a flotation price of between £4.4bn and £5.1bn yesterday, instead of the widely predicted £5.5bn, it rejected claims that the cut was in response to those jitters, insisting that the price tag was a "realistic assessment" of the company's worth. A senior justice department official told the Guardian: "Any business offering online gambling services that are in the United States or can be accessed in the US are illegal. "The focus today is on how we can do more about it [online gambling] and how we can charge people. If they are American citizens, it would be a little easier for us. They can face prosecution if they enter the United States." A successful flotation in London, with the vast injection of capital that would bring, would make little difference in Washington, the official added. "If they're taking bets in the UK, and it's legal there, that's fine; but if they're taking bets in the United States, that's il legal, and they will be prosecuted." PartyGaming disputes the justice department's interpretation of the law in the US, and said yesterday that no company offering similar online gambling services had ever been prosecuted there. A spokesman added: "The US does not have legislation specifically regulating online gaming and therefore there is uncertainty as to its legality."
They need to be politically savvy and donate millions to the GOP. Then watch how their troubles "miraculously" disapear. Too bad for them that Jack Abrahamoff is sidelined at the moment, otherwise retaining him for a few million would have done the trick.
Thay had better learn quick.. LONDON (Reuters) - PartyGaming shares were under pressure in unofficial trading on Thursday amid investor concern about the regulatory risk facing the online poker giant, which is set for a multibillion-dollar share float later this month. Spread-betting company IG Index said its price range for PartyGaming's shares had slipped to 110-118 pence, while Cantor Index's price was 112-115p, both towards the lower end of PartyGaming's indicated price range of 111-127p per share. The weakness came a day after the company issued its prospectus which said the company's directors risk jail if U.S. moves to clamp down on online gaming are successful. "There is a significant risk that criminal or civil judgements may be sought against the group of directors," PartyGaming said in its prospectus for the initial public offering in London. "If successful, such actions may result in remedies such as injunctions ... fines and imprisonment." PartyGaming said 87 percent of its players are based in the United States, where the legality of online gaming is a grey area. The Gibraltar-based company does not have a physical presence in the United States, but it does advertise and receive funds from payment processors there. U.S. LEGAL ISSUE It said any disruption to its relationships with partners such as banks, credit-card companies or payment processors could affect its business, and said as payment processing has become more tightly controlled it had experienced "some difficulties" in processing payments to and from its customers. "Accordingly, payment processing costs and bad debts may increase as a proportion of the group's revenues in the future, and the group may experience increasing difficulties in advertising," it said in the section of the prospectus dealing with risk factors. One legal expert said the high-profile flotation was likely to bring the legal issue in the United States to a head. "If the U.S. are going to do anything, they will feel pressured to take action with this case, so watch this space as it could navigate the future of online gaming," said Paul Telford, online gambling expert at international legal practice Allen & Overy. "The U.S. enjoys one of the biggest casino industries in the world so it will obviously be looking to protect that industry -- but how far will they go?" he added. "If this IPO goes through and the U.S. doesn't pursue them, there are plenty of successful online gaming companies watching from the sideline and, if successful, they will see this as an opportunity to do the same thing." PartyGaming plans to raise between 996 million pounds and 1.139 billion pounds in the flotation on June 27, most of which will go to the company's four founders. The share sale will value the company, which operates the partypoker.com Web site, at between 4.4 billion and 5.1 billion pounds, below previous expectations partly due to the regulatory uncertainty. Anurag Dikshit, group operations director, is the biggest shareholder with a stake worth at least $3 billion (1.65 billion pounds). Other major shareholders are Vikrant Bhargava, its marketing director, and other co-founders Ruth Parasol and her husband Russ de Leon.
Guys its a fad, it attacting a lot of newbs, who like in day trading thought they could make big money. THey lost there shirts. Only a few make money, and they focus 100% of there time to improve there strategies. There cashing out, and all it takes is a lawsuit from Elliot Spitzer and they are dead.
Party has established a history of refusing to make payoffs to gangsters. When the hacker mafia was constantly launching DOS attack on the Party network, crashing their system almost every day, Party still didn't pay. I doubt they'd give the far more unsavory GOP mafia a dime either.
What's going on Bud? Do you know something? Remember there're no short cuts son, quick buck artists come and go with every bull market but the steady players make it through the bear markets.