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A Texas payment processing company has agreed to forfeit more than $6 million in a settlement with federal prosecutors that grew out of a U.S. crackdown on Internet gambling.

LST Financial Inc., a San Antonio third-party payment processor, has agreed to forfeit $6.27 million related to proceeds from online poker, according to court papers filed Wednesday. About $212,000 will go to a North Carolina bank to cover its expenses related to processing funds for LST Financial.

As part of the settlement, the U.S. government will return other funds held in LST Financial's accounts that weren't derived from online gambling.

"LST is gratified that the government agreed to return assets unrelated to the PokerStars activities," said Michael Bachner, a lawyer for LST Financial.

Read More: Poker Processing Company, U.S. Reach Settlement - WSJ-com
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Lawmakers have been trying for several years now to legalize online poker. Lawmakers from many different states have created proposals, yet many of the proposals do not make it far in the legislative process. However, despite this, many lawmakers are still hopeful that online poker will be legalized by the end of 2012.

Texas Representative Joe Barton has proposed a bill that is currently under review in the House. Barton has stated that Internet poker is not a crime but a game of skill and it should not be outlawed.

Read More: Legislators Still Hopeful That Online Poker Will Be Legalized in US
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A recently released Bwin.Party trading update focuses attention on PokerStars’ Zoom Poker as the reason for a decline in revenue.

The July 10 update from the parent company of PartyPoker alludes to “continued pressure” in the online poker marketplace as being the result of the launching of Zoom Poker, which has taken a huge chunk of the fast-fold Internet poker market.

Read More: Zoom Poker Causes Decrease in Revenue for Bwin.Party
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Win a SPT semi-final seat of your choice by being dealt an elusive Royal Flush

Have you ever been dealt a Royal flush when playing online poker? Well, Sky Poker on average see one Royal Flush for every 318,000 hands dealt. This equates to about one every two days.

But now Sky Poker is challenging the poker community to hunt for those elusive Royal Flushes to potentially win a seat in the SPT Grand Final!

Read more here: Race to the Royal Flush Starts Now - PR Newswire - The Sacramento Bee
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SAN ANTONIO - A payment processing company based right here in San Antonio has agreed to hand over more than $6 million in a settlement related to proceeds from online poker.

The New York Post reports LST Financial is forfeiting $6.27 million after a nationwide crackdown on internet gambling. LST reportedly moved money tied to three illegal gambling websites. In federal court papers the company admitted no wrongdoing.

Read More: San Antonio online poker deal|WOAI: San Antonio News
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The subject is dicey, the stakes are high and the clock is ticking, but lawmakers are still hopeful they can move to legalize online poker by the year’s end.

“Internet poker isn’t a crime, it is a game of skill and it shouldn’t be outlawed,” said Rep. Joe Barton, R-Texas.

His bill would establish a program overseen by the Department of Commerce for state licensing of internet poker. Barton says it gives states power to decide whether or not to allow internet poker within their borders and a share of any revenue generated.

Another bill make the Secretary of the Treasury responsible for the licensing of Internet gambling activities. Both bills are currently languishing in committee in the House.

Read More: www-fdlreporter-com/article/20120713/FON06/307120068/News-Analysis-Lawmakers-remain-optimistic-about-legalizing-online-poker?nclick_check=1
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If you haven't heard, Poker-Edge, the all-in-one online poker tool that includes a Heads-Up Display, buddy list, odds calculator, and a massive player hand history database, is no longer providing support for PokerStars. The decision comes as a reaction to the recent cease and desist order that PokerStars sent to a competing site requesting that all third-party hand histories cease to be used for datamining purposes.

Read More: Poker-Edge No Longer Provides PokerStars Support
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Online gaming company 888 Holdings has signalled 2012 could be its annus mirabilis as it surprised investors with improved forecasts for the year. The group, which analysts believed was close to “crisis point” in 2011, said earnings for the first six months will likely “significantly exceed current expectations” as its revamped casino and poker products gain traction with online gamers.

Margins over the next six months are expected to take a knock from the Olympics, which is likely to draw punters towards sports betting.

Read More: Poker and casino pay out for 888 Holdings - Telegraph
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After Black Friday, online poker seemed nonexistent in the United States. Players longed for an opportunity to play online poker without having to worry about the funds in their account and now they supposedly have that opportunity. SkillBet has now launched in the United States and they claim to be legal in the majority of states in the US.

The new site is different than the online poker sites we have known in the past. Players at the site do not compete at the same table against other players. Instead the players will challenge other players by playing at similar tables, not the same one. SkillBet is claiming that this way, players are playing with more skill rather than a skill/chance game.

Read More: New Online Poker Room Opens; Claims to be Legal in US
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According to the New York Post, LST Financial is paying just over $6 million as part of a settlement which is related to the online poker industry. LST Financial is a payment processing company located in San Antonio and was linked to online poker site PokerStars for processing payments for the online casino.

The company has been reported to be connected to three illegal gambling sites including PokerStars. The company admitted that they did nothing wrong in federal court papers and according to the settlement the United States government will be returning the funds they held of LST’s accounts that were not connected to online gambling.

Read More: LST Financial To Pay Millions in Online Poker Settlement
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888 Poker has seen revenues increase 88 percent year-on-year as it takes a major slice of the Spanish market and looks forward to further growth in the States.

It was a case of all the eights for 888 Poker, as the company´s revenue in the first quarter of 2012 showed an 88 percent year-on-year increase, prompting investment bankers and stockbrokers – Panmure, Gordon & Co. – to upgrade the company´s profit forecast by a staggering 22 percent.


Read More: 888 Poker Revenues up 88 Percent - More to Come!
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U.S. Rep. Joe Barton generally knows when to hold 'em -- and when to fold 'em.

Now, he said, is not the time to walk away from his bill to legalize online poker.

It may even be time to go all in.

"Internet poker isn't a crime," said Barton, R-Ennis, whose district includes parts of Tarrant County. "It is a game of skill, and it shouldn't be outlawed."

With the days waning in the congressional session, Barton said he's talking to colleagues, hoping to pass a bill legalizing the estimated $6 billion online poker industry by creating interstate licensing.

Read more here: Joe Barton ups the ante in push for online-poker bill | Elections & Politics | News from...
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At the 2006 World Series of Poker, Full Tilt Poker Chief Executive Officer Raymond Bitar enjoyed the trappings of a gaming industry titan.

Inside the Rio's convention area, Full Tilt and other Internet poker giants commanded spacious luxury suites that were a mix between a cocktail party, corporate meeting room, and players' lounge.

Full Tilt's familiar red-and-black logo dominated the landscape. The suite contained plush sofas, an open bar, free snacks and scantily clad waitresses. Full Tilt's sponsored team of professional poker players - led by Howard Lederer and Chris Ferguson - relaxed in the lounge during breaks between tournament events and away from legions of fans.

Read More: This case has poker world watching - Business - ReviewJournal-com
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Manne wrote: At the 2006 World Series of Poker, Full Tilt Poker Chief Executive Officer Raymond Bitar enjoyed the trappings of a gaming industry titan.

Inside the Rio's convention area, Full Tilt and other Internet poker giants commanded spacious luxury suites that were a mix between a cocktail party, corporate meeting room, and players' lounge.

Full Tilt's familiar red-and-black logo dominated the landscape. The suite contained plush sofas, an open bar, free snacks and scantily clad waitresses. Full Tilt's sponsored team of professional poker players - led by Howard Lederer and Chris Ferguson - relaxed in the lounge during breaks between tournament events and away from legions of fans.

Read More: This case has poker world watching - Business - ReviewJournal-com
The outcome of Bitar's case could have a lasting impact on poker.
Join: 2012/06/08 Messages: 2
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Five women are still in action at the conclusion of day 5 of the 2012 World Series of Poker main event. No female player has ever won the WSOP main event, and it has been 17 years since one made the final table. Card Player TV brings you some info on the final five females, including an interview with Elisabeth Hille, who ended the day 18th in chips.

Read More: Five Women Remain Going Into World Series of Poker Main Event Day 6 - Poker News Video
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Despite the Main Event field shrinking on Saturday, the headline of the day was a recreational poker player electing to skip the day in order to observe the Sabbath. After repeated attempts at contacting Jarrett Nash in his Bellagio hotel room, he was finally reached.

Contrary to an original source, the religion isn’t Judaism. Nash told Card Player that he and his wife are non-denominational Christians who take a day of rest every weekend from sundown Friday to sundown Saturday. “No pleasures of the self,” Nash said.

One of those pleasures was making a deep run in poker’s most prestigious tournament, but Nash is certain of his choice and has no regrets of blinding off his stack of more than 500,000. He busted in 171st for about $45,000, money, he said, that “God has a plan for.”

Read More: Jarrett Nash Explains Decision To Skip Day 5 of World Series Of Poker Main Event
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Manne wrote: Wednesdays have gone wild at Bovada Casino. Players can claim their bounty by playing video poker. The bounty consists of cash bonuses and lucky draw prizes. For starters, the Video Poker Wednesday promotion will run on all Wednesdays from June 27 until August 8. A promotional day refers to one Wednesday singly and not to all Wednesdays combined.

One component of the Bovada Casino Video Poker Wednesday promotion is the $52 cash bonus. In order to qualify for this, players must accumulate 52 tickets during one promotional day. To earn one ticket, players must wager a minimum of $52 on any video poker variant during the promotional day. All video poker variants offered at Bovada Casino are eligible in this promotion. In one promotional day a player can earn a maximum bonus of $52. The bonus will be credited directly to qualifying players’ accounts within 48 hours of the end of the promotional day. The bonus has a 20 times rollover requirement on eligible casino games.

The other component of the Bovada Casino Video Poker Wednesday promotion is the $5,200 weekly prize pool. For every $52 wagered on any video poker variant during the promotional day, the player will receive one entry for the weekly prize draw. There is no limit to the number of draw entries players can receive. Ten winners will be selected at random every week and each winner will receive $520 in cash, with no rollover restrictions attached.

Bovada Casino offers an excellent range of video poker games from the software provider Realtime Gaming. The staple variants include Aces and Eights, All American Poker, Deuces Wild, Jacks or Better, Joker Poker and Sevens Wild. However there are some variants that are found exclusively at Realtime Gaming online casinos. In 7 Stud Poker, the player is dealt seven cards, with the first and third card revealed immediately. The player can place multiple bets to reveal each card one at a time, or can fold and lose the amount wagered. If the final hand ranking achieved is listed in the pay table, then the player is awarded a corresponding payout. In Mystery Bonus Poker, one of the hand rankings is randomly designated as the Mystery Bonus. If the player’s final hand ranking matches with the Mystery Bonus then he receives double the normal payout. In Pick’em Poker players are dealt two single cards face up and two sets of three cards with only the top card of each set exposed. They must choose between the two sets based on the card on top of the sets and the two single cards. Bovada Casino is licensed by the Kahnawake Gaming Commission.
This is really fun :thumbsup
Join: 2007/02/24 Messages: 1205
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Attempting to expand its reach beyond horse racing, Churchill Downs Inc. has applied for a license to provide online poker in Nevada.

Joining a list of applicants that now numbers roughly three dozen, the owners of the Kentucky racetrack that has hosted the famed Kentucky Derby for 137 years are hoping to receive approval from Nevada gaming officials to offer online poker in the Silver State.

Read More: Churchill Downs Files For Online Poker License In Nevada
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It is not often that video poker players at online casinos dominate the winners’ lists. That has customarily been the prerogative of online slots. However on July 9 there was a spate of winners at some of the innovative video poker variants at Roxy Palace online casino. Prior to that, a player named Lionel V won $8,256 on July 6 wagering on the standard video poker variant Jacks or Better. Even though there are no add on features in Jacks or Better, it is the most popular video poker variant. The reason is that its optimum strategy is well known and it offers very high average returns.


Read More: Roxy Palace Online Video Poker Wins
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