U.S. handed deadline on Internet gaming

By Warren Giles
BLOOMBERG NEWS

A World Trade Organization arbitrator gave the United States until April 3 to end discrimination against foreign online betting companies following a complaint by the Caribbean island of Antigua.

WTO judges ruled April 7 that the U.S. ban, in the interests of "public morals," can stand only as long as the prohibitions don't discriminate against foreign companies. The United States has said it can comply with WTO rules by "clarifying" its restrictions, without opening itself to foreign Internet gambling.

Antigua-registered companies such as Sportingbet Plc and BetWWTS.com account for about a quarter of wagers in the estimated $7 billion to $12 billion global industry. The island, which developed online gambling to boost its tourism-dependent economy after a series of hurricanes, is seeking access to the U.S. gambling market, the world's biggest. U.S. residents account for about 55 percent of online bets.

Antigua, a nation of 67,800 people and the smallest WTO government ever to lodge a dispute, scored a victory against U.S. online gambling restrictions in November, when WTO judges said the Bush administration had failed to justify the ban on moral grounds and had committed itself to open the industry in 1995.

Jeff Gordon Announces "Moneymaker" for His Foundation with Harrah's Entertainment.

Tuesday, August 23rd, 2005

Through a series of "No Limit Hold'em" tournaments, motorsports fans and poker enthusiasts will be able to go "all-in" to support The Jeff Gordon Foundation. The series of high-stakes poker events, which will include online satellite tournaments and events at several Harrah's casinos (NYSE:HET), will begin this Fall and culminate in a championship to be held in March 2006 in Las Vegas, Nev. The championship, scheduled for the week of the annual race at the Las Vegas Motor Speedway, will be held at Caesar's Palace -- one of Harrah's premier casinos.

Chris Moneymaker, who collected the $2.5 million first prize in the 2003 World Series of Poker (WSOP) Main Event championship after qualifying through a $40 online satellite tournament, believes that playing a tournament for a charity is a great way to raise the awareness of child-related causes. He noted over 5,600 people entered the main event of the 2005 WSOP Tournament in July, more than double that of a year ago and about eight times that of two years ago.

"The Jeff Gordon Foundation Hold'em Tournament will raise both players' and fans' expectations about what a world class tournament benefiting charities can provide," said Chris Moneymaker. "As a fan of motorsports and a supporter of Jeff Gordon, I fully expect that this event can help make significant contributions to children in need of his Foundation's support."

"The popularity of these tournaments lends itself well to creating an environment where casual enthusiasts can enjoy participating in a star-filled event knowing that they are also supporting children through The Jeff Gordon Foundation," said Jeff Gordon, four-time Cup Series champion. "With the industry's support, we can help meet the overwhelming physical, social and intellectual needs of children and their families throughout the United States."

With a fan base estimated at 50 to 60 million who play poker at least once a month, The Jeff Gordon Foundation hopes to raise up to $1,000,000. In addition to reaching out to the fans of poker and motorsports, the tournament will provide opportunities for professional poker players and celebrities to play an important role in raising funds and awareness of today's needs by children and their families.

The Jeff Gordon Foundation Hold'em Tournament will be broadcast on a yet-to-be-determined network and be executive produced by Bischoff-Hervey Entertainment in combination with Tony Loiacono, the creator of the event. Off-camera, the select competitors, professional poker players and celebrities will enjoy high-stakes fun as they partake in a VIP Reception, and attend the hit shows at Harrah's casinos.

At the end of the day, his favorite thing to pick up is a hand of cards ... and a couple of poker chips.

Known as 'The Big Dog' on the World Series of Poker circuit, Galella won a quarter of million dollars as winner of the Treasure Island Open in Las Vegas earlier this year and has played against professionals like Phil "The Unabomber" Laak, Chris "Jesus" Ferguson, Chris Moneymaker and Humberto Brenes. He's only been playing cards seriously for a year but has already picked up sponsorship from Big Dogs sportswear. Born and raised in NEPA, Galella's poker-faced ambition is tempered only by family devotion - despite suggestions to go pro, this No Limit Texas Hold'em wiz plans to play only the major events - for now - so he can be home for weekends with his daughter.

What was the World Series like?
It took place this year at the Rio in Las Vegas and when I first went into the convention hall area, I was in awe. All the people and the tables upon tables upon tables - I couldn't believe the amount of people playing poker. And from all over the world. When I looked at the top players in each event and I saw my (name), my wife and I were laughing because we saw one from Denmark, this guy's from Japan, this guy's from Hawaii, there's quite a few from Las Vegas, California, Belgium, and then there's Tom Galella, Scranton, Pa.

You pay a certain amount to enter?
There is a buy-in, depending upon the event. I play No Limit Hold'em. That's the grandpa of all poker. It's been around forever but in the last couple of years it's really gotten big. The Treasure Island event was a $10,000 buy-in. I scraped together money for that and luckily enough I came home with some money.

So there's a big risk.
There is if you're taking cash money out of your pocket. Now I have Big Dogs sportswear as sponsorship. When you enter a major event, ESPN wants you to fill out a profile sheet and they want a poker name, a nickname. I figured, "I'm wearing a Big Dogs shirt, I'll go in as The Big Dog. Why not?" So the name caught on and people started to know my name and when we came home from our vacation after the World Series and I got a call offering me sponsorship. So what they do is they pay 75 percent of the buy-in and I just have to wear their apparel and send them five percent of the take. So with a $10,000 buy-in, I only have to come up with $25,000. (Poker's) so big now, you don't have to win to make yourself a lot of money. Cindy Violette from Atlantic City came into money six times out of eight events and she made herself almost a million dollars - without winning an event.

more >>>