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Poker News Wrap Up: August 01 to 09

The end of July was a slow time for the pokerverse, as a post-WSOP hangover descended upon players and the media alike. With the WSOP now in the rear view mirror (excepting, of course, the November Nine), things are getting back into swing, as evidenced by the number of major developments during the first week of August.

While the WSOP took a backseat, it wasn’t totally out of the picture last week, as more information emerged regarding just how much Phil Ivey stands to win on sidebets if he takes down the Main Event. The number: $20 million, or over two times what the assets of the World Poker Tour sold for on Tuesday.

Phil Ivey was also involved in another big story this week, as his name and nine others appeared on the nominee list for the Poker Hall of Fame. Doyle doesn’t think Ivey should be in yet, and everyone seems to agree that Mike Sexton is the only lock on the list.

A UPenn study concluded that tournament poker is, in fact, a game of skill by comparing long-term results of top poker pros to the long-term results of top golfers. A thread on 2+2 claimed that poker at Pitbull Poker is, in fact, not a game of skill, at least not when you’re playing against alleged superusers (evidence still emerging).

A new bill from Sen. Robert Menendez, D-N.J., the Internet Poker and Games of Skill Regulation, Consumer Protection, and Enforcement Act, was introduced late in the week. The bill isn’t entirely dissimilar from Barney Frank’s bill, but has two key distinctions: it covers only skill games and provides tax revenue directly to state governments. Early reactions and analysis of the bill are largely positive.

Finally, there was a critical development in the Account Services story (FAQ on that here). The company, one of two payment processors impacted by the seziure of over $30 million dollars in poker player’s cashouts by the Federal Government in early June, saw the Federal Government file an indictment against company principal Douglas Rennick. Rennick will face charges including bank fraud, money laundering and illegal gambling offenses.

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