Sammy Farha, UIGEA, Commerce Casino

 

Hey High Rollers, couple of new pages on the site www.highrollerradio.net – including The Gamblers Fallacy, Howard Schwartz and Golden Nuggets (page 5).  You’ll find great quotes, notes and anecdotes from the world of poker/gambling.  This week a player profile of the legendary Sammy Farha, we’ll ask the question is poker a sport? & and we’ll outline the Unlawful Internet Gambling Enforcement Act, introduced in 2006.

NOTE:  Old Spice Giveaway….simply visit our website and tell us a poker/gambling story.  Draw is November 15th!  Good luck.

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Sammy Farha

Ihsan “Sam” Farha, born in Beirut, Lebanon, is a high-stakes professional poker player best known for his heads-clash with Chris Moneymaker at the 2003 World Series of Poker. Farha lost a major pot on Day 2, leaving him with only 10% of his starting stack, and considered leaving but was talked into staying by Barry Greenstein.  The rest is history!

PokerStars organized a rematch of their main event showdown a few months later and Farha won. They then played a special ‘grudge’ match at the 2011 WSOP and Moneymaker proved victorius in the best-of-three format.

After winning the $5,000 Omaha Hi-Lo (8 or better) event in 2006, Farha skipped the event the next three years. He then played it again in 2010 when it was increased to a $10,000 buy-in – and won!  So, while not winning the event consecutively, Farha did claim the bracelet both times he played in the event.

Sammy co-authored a book, Farha on Omaha, which is a detailed guide on Omaha poker strategy. He intersperses basic strategies with his own personal style of play.

Bracelets

1996: $2500 Pot Limit Omaha ($145,000)
2006: $5000 Omaha Hi/Low $398,560
2010: $10,000 Omaha Hi/Low, $488,241

UIEGA

The Unlawful Internet Gambling Enforcement Act is a piece of United States legislation, introduced in 2006 to regulate online gambling.  It was added as Title VIII to the SAFE Port Act, which otherwise regulated port security.  It “prohibits gambling businesses from knowingly accepting payments in connection with the participation of another person in a bet or wager that involves the use of the internet and that is unlawful under any federal or state law.”

When the act was passed, all online gambling sites listed on the London Stock Exchange (or similar markets) stopped taking U.S. players. PartyGaming, which runs PartyPoker.com, had its publicly traded stock drop by almost 60% in 24 hours as a result of the bill’s passage. The company was moved from the FTSE 100 Index to the FTSE 250 Index on October 11, 2006.

The founders of PokerStars, Full Tilt Poker and Absolute Poker, the three largest online poker sites in the world, were among those indicted in April 2011 for violations of the UIGEA.  According to the U.S State Attorney in New York, the companies allegedly tried to circumvent UIGEA rules with the help of others who acted as “payment processors”, which allowed the companies to disguise gambling revenue as payments for non-existent goods like jewellry or golf balls.


The Commerce Casino
The legendary home of the LAPC is a poker player’s dream; you might say a card playing heaven. High Roller Radio spoke to actor Eric Bruskotter, star of the movies Major League 2 & 3, about the electric atmosphere at the Commerce:
Full Interview


Best Poker Commercials 
From Old Spice to Phil Ivey, High Roller Radio has compiled our list of top gambling commercials. Can you say Poker Face?

Good luck & good gambling!