The UIGEA Act and Black Friday
In this blog we will cover two major events that had some significantly negative effects on poker, and how the game has bounced back.
In October 2006 the United States passed the Unlawful Internet Gambling Enforcement Act (UIGEA). It didn’t specifically prohibit US players from playing online poker, but outlawed businesses from transferring funds to and from gambling sites.
Final regulations weren’t formulated and into effect until later. Some online sites pulled out of the US. Other sites such as PokerStars, Absolute Poker and Full Tilt Poker continued to allow players from the US to deposit and withdraw monies (and to play).
Looking at the upcoming chart of the Chris Moneymaker effect we can see a significant drop in players in 2006 at the WSOP Main event. It was another inflection point.
The next event to injure the poker world occurred on April 15th of 2011 (Black Friday). The US Department of Justice issued an indictment against the executives of Absolute Poker, Full Tilt Poker and PokerStars.
They were the three largest online poker sites in the United States. The event was devastating for tens of thousands of players who made their living online playing poker.
The Chris Moneymaker Effect and the UIGEA
But, you can’t keep good people down, or a good game down! People continued to play No-Limit Hold’em and the number of entrants at the WSOP main event didn’t change appreciably in 2012.
Poker has bounced back and is stronger than ever. The gambling gene is too deeply rooted in the American psyche to destroy such an incredible game such as Texas No-Limit Hold’em. Many other people around the world feel the same way.
In the next blog we will discuss how TV, Movies and YouTube Videos have influenced the number of poker players.
Copyright © 2020 -2021
Charles W. Clayton
All Rights Reserved
Your comment will be posted after it is approved.
Leave a Reply.
Now available on Amazon.com
"A must read if you’re serious about improving your game."
~ Tom Britton
Become a Feared Shark!
This blog has been created to help you gain a competitive edge using poker math and how to integrate it with the rest of your game. Enjoy! ~ Chuck Clayton