Walter Wright & the Feds' Attack on Online Poker: A Tale of a $2.5 Billion Industry

Categories: Cover Story

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April 15, 2011 is known as Black Friday in the online-poker world, the day the feds seized the assets and shut down the three biggest companies serving the American market -- PokerStars, Full Tilt Poker and Absolute Poker.

Among the people affected: Walter Wright, a former Houstonian who was making a six-figure living playing online poker.

He's now living in Costa Rica, where he can continue doing what he learned to do so well.

Village Voice Media writer Chris Parker takes a look at Wright and the rest of the online-poker subculture -- a $2.5 billion industry -- in "They Were Kings For A Moment," this week's Houston Press cover story.

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5 comments
  online session drummer
online session drummer

 

Ask about dimensions, and request some pictures if none are provided on the website. If you like what you see, you will want to ensure the pictures displayed are indeed the tracking and control rooms being used.

Live casino
Live casino

Online Poker game has faces so many assault and that's why many people in trouble to join this great online gambling or not. Here Walter Wright was earned lots of money.

shu
shu

"He started as most do, playing what's known as the "cash game." It's simple poker — win by pushing your advantage when the cards are good and bluffing when they're not."

Wow, it's clear from this paragraph that the author is not a poker player – or a poor one. First, the definition of "cash game" is that it's not a tournament. Serious cash games have little to do with being "simple poker," in fact they're quite the opposite. If we're talking no-limit or pot-limit, cash games can require very difficult decision making under big pressure for real dollars. Unlike tournaments, which carry their own type of pressure, but which is dictated most by survival and preservation / growth of what is essentially play money (albeit, for an entry cost), versus real dollars in a cash game. Granted, there is no time / blind level-related survival element in a cash game. But there's a big difference in calling a $10K raise in real cash versus tournament chips, which may have only cost you $5 in real money.

Win by pushing your advantage: of course. Bluffing when the cards are not good: uh... sometimes, in the right position, against the right (few or one) opponents, with the right cards on the board, and based on your table image, stack, and the story you have spun during that hand and that session. I'd love to play with players that simply feel they can continually bluff their way to consistent winning sessions.

All this said, I'm actually glad online poker is potentially fizzling. The best online players are simply not playing the same game as live players. Those who constantly multi-table and play as a job have reduced an art to a science, a numbers game. Play enough hands properly over the course of time, manage your bankroll, find your sweet spot among the limits and structures, and you'll come out ahead.

While many of poker's current "stars" have successfully transitioned from the online world, a vast majority will fall by the wayside, neither having the patience, discipline or face-to-face experience to play one table or one event at a time in the brick-and-mortar world. Plus, if the successful choose to play games appropriate to the size of their bankroll, they're going to be facing much stiffer players in the real world than the "fish" who dabble online.

Walter Wright
Walter Wright

The game of poker is part science art and sport no matter what the medium it is played whether online or in a live setting. 

Walter Wright
Walter Wright

The fact that you read that sentence to mean that I bluffed EVERY time I didn't have it is absurd. And what do you mean the definition of cash game is that its not a tournament? Not really sure what you are trying to say there because it doesnt even make sense.

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