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Absolute Not Folding, PokerStars Gives Up Bin Laden & GUKPT Walsall Result
In yet another topsy turvy week in the world of poker, rumours a plenty have been circulating, some true, some false and some highly unlikely …
We sort the wheat from the chaff and most importantly get you the true (probably more mundane) story behind the sensationalist headlines.
Rumour #1 … Absolute Poker Not Folding After All
True (well sort of)
First off is the continuing rumours that Absolute Poker and UB was going to fold not only on it’s US players but on all players, on this bit online poker community have to some extent been “proved” wrong.
By proved wrong I mean that the mass online rumours that Absolute Poker were going bankrupt and had filed for insolvency in Norway might be wrong, Absolute Poker have issued a press release saying they are NOT going out of business but are having a massive restructuring after being forced out of the US, which has involved laying off 95% of staff.
But I still think Absolute could screw US players yet, the DoJ agreement seems no nearer and they seem to almost want a fight – Something just doesn’t sit right.
BLANCA GAMES ISSUES STATEMENT ON RESTRUCTURING
Absolute Poker and UB to Focus on Non-U.S. Business
St. John’s, Antigua and Barbuda (May 5, 2011) — Blanca Games Inc. (“Blancaâ€), operator of online poker rooms Absolute Poker and UB, issued the following statement today:
As previously stated, Absolute Poker and UB ceased their U.S.-facing operations due to recent legal developments in the United States. The company is currently restructuring and is focusing its resources on consolidating its non-U.S., rest-of-the-world operation and software business. In order to have a more efficient and successful future business, an immediate need to downsize and streamline operations significantly at both online poker rooms has been required. Absolute Poker and UB continue to operate their non-U.S.-facing business.
This decision comes after considerable review and analysis of the impact that ‘Black Friday’ has had on the business as a whole. The workforce has been liquidated, and the process of rehiring approximately 20% of staff in key positions has commenced. All affected employees have been informed of this necessary restructure.
A company spokesperson said: â€We regret that we have been compelled to take these actions. We have worked tirelessly to create a truly amazing company that is filled with extraordinary people. We have always been and still remain fully committed to our employees and players. At the same time, we are confident that this restructuring will strengthen the company and its future.â€
The Company spokesperson also addressed erroneous reports that Blanca has filed for bankruptcy. The apparent confusion over this issue stems from the fact that Blanca recently informed a debt holder, Madeira Fjord, that it was terminating debt payments to, and its relationship with them. As a result, Madeira Fjord apparently filed a notice of bankruptcy in Norway. This notice has no negative impact upon Blanca, the operating company, or its brands. As stated previously, Absolute Poker and UB continue to operate their non-U.S. facing business around the world.
For non-U.S. players, Absolute Poker and UB have increased their maximum withdrawal limits to $1000 for Visa withdrawals and $500 for all other methods. The number of transactions being processed per day has been significantly increased as well. Players are still restricted to one transaction per week, but we are working to return non-U.S. withdrawals to normal service levels as quickly as possible.
As confirmed earlier this week, the company’s legal counsel is in continuing discussions this week with the U.S. Attorney’s office to formalize an agreement that would facilitate the return of funds to U.S. players.
While this clarification suggest they’re not facing impending bankruptcy, I think players can be excused from being a little over reactive given the sites less than stella history.
The fact still remains that unlike PokerStars (who are cashing out US players), Absolute still have not sorted out a deal with the DoJ and are dragging their heels even more than FullTilt, who at least have an agreement with the DoJ to get funds to US players (even if that still hasnt happened yet).
I’ve always maintained that PokerStars and Fulltilt players would get their money eventually but I have to say I remain somewhat sceptical when it comes to AP / UB. I dont know but I still think AP might stitch up US players one way or another. I just dont trust them and really they should have sorted something out with the DoJ by now IMHO …
my guess on US players getting their money is t’s at best 50/50. For non US players I would be cashing out as much as possible as soon as possible it just isn’t worth the gamble if you have an option to bail before MAYBE they do – who knows.
Rumour #2 – Osama bin Laden found because his mates PokerStars account was seized by DoJ
False (well probably)
As quoted and requoted all over the internet the rumour that Osama bin Laden was caught / killed based on intelligence gathered from the PokerStars player database seized as part of the DoJ indictment.
The persistent rumors have the trusted courier, Abu Ahmed al-Kuwati, to bin Laden as a frequent online poker player on Pokerstars web site. The feds got info from Pokerstar executive Australian Daniel Tzvetkoff about the whereabouts of bin Laden’s poker playing courier that led to the safe house in Abbottabad. The rest is history.
Possibly the funniest and stupidest bit of conspiracy theory based allegedly on Osama bin Laden’s mate playing on pokerstars and this led to Bin Ladens hideout. Next players will be telling everyone Online Poker is Rigged … Geeze
Rumour #3 – Scrawnybob Cashes in the GUKPT Walsall
Highly Unlikely … Yet True
Following on from my somewhat niche industry win of the ASOP 2011 London (thats the Affiliate Series of Poker) back in January (thanks guys for the $6k and some very bling, bling bling), I have managed to cash in the GUKPT Walsall event coming 11th.
Result (well for me at least)
OK so its not back to back wins and it’s not winning the WSOP either, but for me on a personal level I’m really pleased that I’ve played 3 live tournaments this year, won one, won a £1070 seat for the GKUPT in another and then cashed in the GUKPT Walsall event.
I’ve really enjoyed getting back to playing a bit more live games and not just what used to be the regular £600 donk fest we called our home cash game (ah those were the days).
Anyway as a result of the back to back bank holidays, royal weddings and probably the realignment of something in retrograde with Uranus I was at least theoretically going to be able to play in the Walsall leg of the GKUPT if I could get in cheap.
So I took a punt at the £30+5 re-buy the Sunday before last with 105 runners and ten £1070 GUKPT Walsall seats up for grabs. One re-buy and the obligatory double chip add-on (so £95) and a knee killing 8hrs later I had come away with a ticket for the following weekends main event in the Walsall leg of the Grosvenor UK Poker Tour.
I’m not the best at writing in depth hand by hand trip reports but suffice to say I am sure without doubt there are some nitty know-it-all internet geniuses who would maintain I played at times (or all the time) like a total donk.
Well I would maintain that its my prerogative to play in any way I choose and that includes being inconsistent but also not donking off more of my chips when I realise I’ve messed up just because “there was no way I should fold for another 12,000″.
On the whole I think I played OK and its tough titty if the book says never slow play aces and I slow play aces alot and catch players out as a result. Seeing alot of flops where I can and playing on the flop works for me even if its not text book or whatever.
However I did make the huge mistake of crossing Praz Bansi in a hand having firmly told myself not to mix it up with him as I was clearly very outclassed. I’d kept my head down accumulating a fair amount of chips running over other players, while watching Praz like a hawk I didnt want to get deep into a hand with him. Others seemed to relish the opportunity to say they had “outplayed him” but ended up loosing their chips to his KK or simply being out played themselves.
Anyway sitting with around 125,000 chips my plan to avoid a big hand with him went badly wrong when I continued to play a hand I think making middle pair and an unhealthy suspicion that he was planning on “putting me to the test” for much of my ill gotten chips.
By the river there was a good 40k in the pot and he bet out a meaty 30k and I was really fighting the voices in my head – on the one hand telling me to lay it down as he had clearly made a really strong hand (maybe he really really had the flopped straight). On the other another voice was saying “the guy is playing you into making a fold” – The reality was he had made a straight on the flop and had also totally figured me out and knew he could take me for even more than a value bet on the river. Such a big chunky bet on the river totally threw me and I started to think maybe he had hit the river which meant I was ahead, or he was bluffing and I talked myself into calling still unsure but curiousity had got the better of me …
Respect to Mr Bansi, I got totally owned. This roughly reversed out stacks and now Praz had around 120k and I was down to 75k
Heavily distracted and in danger of tilting when randomly some awful karaoke crooner starts up singing 80′s hits at high volume “entertaining” the casino I made another big mistake. I managed to check the turn and the river thinking I had only made middle pair (queens) with ace kicker, I feared a straight or flush and totally flustered by the racket I had switched off and then turned over the nut ace high flush … I was nearly sick.
Long story short by the end of day 2 we had played down from 175 to 65 and then into the money 17th place down, by which time I was shattered having had only 2 hrs sleep the night before. I took a healthy chip stack down to critical over the last two hours, totally card dead and any attempts to steal were met with resistance so it was a slow death.
In the end, tired and sluggish I had anted and blinded myself away before finally getting all-in with 77 against the big stacks 8 10, my pair didn’t hold and that was then end of my game.
1st Alan Mansbridge …£50,000
2nd Martin Holmes … £34,830
3rd Simon Deadman … £21,930
4th Danny Toffel … £13,330
5th Nick Hicks … £10,320
6th Ryan Spittles … £8,170
7th Benjamin Jenkins … £6,450
8th Adrian Eley … £4,730
9th Craig Burgess … £3,440
10th Dale Harper … £3,010
11th Rob “scrawnybob” Lacey … £2,580
12th Robert Boon … £2,580
13th Richard Horton … £2,150
14th Fariborz Badiemansour … £2,150
15th Praz Bansi … £2,150
16th Derek Miller … £2,150
17th Paul Humphries £2,150
Congratulations to the winner and final table, I had a great time and met some nice players too. Hopefully I can get sorted to play in the Luton GUKPT game and maybe squeeze in a couple more tournaments before then.
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