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Nevada Poker Revenue Way Up

Posted on August 9, 2018August 17, 2018 by Kelley N.

Nevada’s poker market has experienced some big wins lately, as the state has raked in record revenue in June. Revenues have been climbing since the start of the year, and now they are the highest that they have been in almost a decade.

Record-Breaking Revenue

Throughout the month of June, poker rooms throughout Nevada accumulate $17.8 million in revenue, according to documents released by the Nevada Gaming Control Board. The only time that poker profits have exceed $17 million was in 2007, when they reached just over $17.6 million – so, if things keep going this well, poker in Nevada could see it’s highest-ever profits this year.

The World Series of Poker recently visited Nevada, which is the likely reason for this rise in poker earnings. Over 100 000 poker players came from around the world to play in the tournament, and many spent their spare time at cash game tables. Many players who bust out of the tournament early will end up playing cash games for the rest of the tournament at casinos both on the Las Vegas strip and throughout the rest of the state.

Other games across the state have also seen a jump in revenue, with table games earning an extra 15% over the course of the month for total earnings of $339 million. On the other hand, slots haven’t been performing particularly well, as they saw a 3.3% drop in profits.

Good News for Nevada, Bad News for Las Vegas

Las Vegas casinos also enjoyed a good start to 2018, but things have gone downhill quickly. While Nevada’s overall poker revenue has increased, Las Vegas’ gaming profits aren’t doing so well. Both MGM and Caesars have reported soft numbers for the month of June, which has caused casino stocks to fall by over 20%.

Operators have stated that this kind of decline is to be expected during the summer months. Tourists seem to avoid Las Vegas during this time, as the weather can be too hot too handle, and cooler months are when The Strip thrives.

Casino operators in the city are fighting this decline in profits by cutting costs for visitors. For example, MGM has reduced its room rates in hopes of attracting more guests. Some guests have cited paid parking and increased game odds as reasons why revenue has been on the decline, so it will be interesting to see if operators respond by making changes to those aspects.

Regardless of what the numbers say now, Las Vegas is still on track for a great year. With all of the recent developments with sports betting legislation, the city is sure to bring in extra revenue from punters who want to place wagers on their favourite sports teams.

Kardashians Host Charity Poker Tournament, Bitcoin Appears

Posted on August 2, 2018August 15, 2018 by Kelley N.

The Kardashians hosted a charity poker tournament recently, and the event has been making headlines. However, while most blogs are interested in Kim’s weight loss and new haircut, we’re more focused on the inclusion of bitcoin.

Playing Poker for a Good Cause

The event was a lavish one, with sponsors paying up to $50 000 for a table. If you wanted to sit at a table next to a Kardashian, you could have to shell out $5000 to $7500 for a seat. All other players would be able to compete by paying $1000.

It was definitely a star-studded event, with plenty of celebrities making an appearance. January Jones, David Arquette and Meghan Trainor are just a few of the stars that showed up to compete on the felt. There were even some poker pros in attendance, including Phil Hellmuth, Ryan Feldman, and Brandon Cantu.

The event was in support of City of Hope, a leading research and treatment centre for life-threatening illnesses like cancer and diabetes. The organisation is a founding member of the National Comprehensive Cancer Network, and provides care to individuals in need while researching medical breakthroughs that could eliminate these diseases.

All in all, the event was a huge success. Over half a million dollars were raised for charity. The winners walked away with some impressive prizes as well, as first and second place received front row VIP tickets to see The Eagles and Fleetwood Mac. Third place received a custom fitted set of golf clubs and fourth place earned a $17 000 diamond bracelet.

An Appearance from Bitcoin

One of the interesting things about this tournament is that bitcoin was in play. In an Instagram story posted by Kim Kardashian, she posted a photo of a bitcoin chip alongside her regular poker chips with a caption that read “We moved onto bitcoin!”.

The physical bitcoin was given to her by Matthew Roszak, the founder of Bloq – a company working on blockchain innovations. The small gift quickly started conversations around the world, as Reddit users suggested that this is a huge move for bitcoin. With Kim Kardashian adopting cryptocurrency, the market could get the mainstream push that it needs.

This isn’t the first time that bitcoin has made an appearance in the poker world. In fact, the Blockchain World Conference recently hosted the world’s first cryptocurrency poker tournament, where players were not only able to wager using digital money but also registered for the event with it.

Poker is emerging as one of the most desirable and viable partners for bitcoin and other cryptocurrencies. Should these two markets continue to develop their relationship, it won’t be long before bitcoin is a major player in the online gaming world. It would be an important entry for cryptocurrency and the first step towards becoming mainstream.

First-Ever Crypto Poker Tournament Held

Posted on July 26, 2018July 26, 2018 by Kelley N.

Cryptocurrencies are touted to be the next big thing in online poker, but there is still a long way to go before they are truly integrated into the market. To give things a little push, the Blockchain World Conference recently hosted the world’s first cryptocurrency poker tournament.

A Ground-breaking Innovation in Poker

The event was held on the last day of the Blockchain World Conference. Only attendees of the conferences were invited to play in the poker tournament, and 100 players in total took part. The winner received two tickets to the next Blockchain World Conference in December along with three nights’ accommodation – a prize worth $10 000.

While there are several online poker sites that run on bitcoin, there has never been a live tournament focused on cryptocurrency. We are beginning to see the two markets merge, which is a great thing for both players and operators. There are many benefits to playing poker using cryptocurrencies, and it is hoped that players currently using traditional currency will begin to see te possibilities and potential.

The entire event was run through cryptocurrency and tickets were sold using Blockparty, a live ticketing platform powered by blockchain. During the tournament, all bets were made using cryptocurrency, and all prizes were awarded using it as well.

This was the first time that Blockparty has hosted a poker tournament, as the platform is usually used for conferences and parties. So, it’s interesting to see many crypto-focused businesses coming to together to bring new experiences to consumers.

Blockchain World Conference – A Big Success

Over 4000 people attended the Blockchain World Conference at Harrah’s in Las Vegas. 100 exhibitors were in attendance, as well as a list of speakers that included blockchain experts, cryptocurrency analysts, scientists and business leaders. The closing keynote speech was given by John McAfee, and there were plenty of fun events for all attendees, including golf outfits and VIP parties.

It is certainly a big deal that the World Blockchain Conference was hosted at a prestigious venue like Harrah’s Las Vegas. This type of event brings cryptocurrency into the mainstream, and it is likely to inspire more industry expert to host similar exhibitions.

In fact, the World Blockchain Summit will be hosting a series in various countries around the world. The event will come to India, UAE, Slovenia, Kuala Lumpur, Riyadh and Taiwan over the course of the next six months. These types of events are sure to help spread the word about cryptocurrency and its benefits.

Justin Bonomo Becomes Biggest Winner in Poker

Posted on July 19, 2018July 19, 2018 by Kelley N.

There are plenty of multi-millionaires in the poker world, and Justin Bonomo has just topped the list. His total lifetime winnings now amount to $43 million placing him just ahead of Daniel Negreanu, who has earned $39 million over his career. Other top earners include Erik Seidel ($34 million), Fedor Holz ($32 million), Antonio Esfandiari ($27 million) and Phil Ivey ($26 million).

Charity Tournament Pushes Bonomo Over Record

The win that pushed Bonomo ahead of Negreanu was the impressive $10 million prize he earned after coming first in the Big One for One Drop poker tournament in Las Vegas. The tournament is played in support of the One Drop charity, which ensures that impoverished communities have sustainable access to clean water. Over the years, the organisation has helped to improve the lives of over a million people across West Africa, Mexico, Haiti and South America.

The buy-in for the tournament is a steep $1 million, $80 000 of which is donated to One Drop while the rest goes to the prize pool. At this year’s Big One for One Drop, over $2 million was raised for the worthy cause.

This is the second One Drop tournament of the year. Just last week, the $1111 buy-in tournament raised an additional $525 000 for the charity. So, just over $2.7 million has been raised in support of this wonderful charity that looks after the lives of those in need.

A Very Good Year for Bonomo

Bonomo’s winnings this year have mostly contributed to his record-breaking earnings. So far, in 2018, he has won $25 million, including a $4.8 million windfall at a high roller tournament in Macau and a $5 million win in Las Vegas. With 24 cashes over the course of the year, he has averaged $1.03 million per win – and, since we’re only halfway through the year, his cashes amount to almost $126 000 every day.

While he has earned the most so far, this number is not an indication of Bonomo’s total worth. The figure only considers his winnings and neglects to include his buy-ins. So, it still remains to be seen who is actually the richest player in the poker world.

Bonomo is just 32 years old, so he has plenty of time to keep climbing the ranks. Daniel Negreanu, who is second on the All-Time Money List, is 42 years old while Erik Seidel, who is third, is 58. If Bonomo continues to earn at this rate, he will certainly go down in history as one of the most successful poker players.

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