Video Gaming Scandals and Bankruptcies in 2015: Sports and Gambling’s Megastories of the Year

 Video Gaming Scandals and Bankruptcies in 2015: Sports and Gambling’s Megastories of the Year

Ah yes, gaming scandals and bankruptcies. Why must this be a category in gambling news at the end of each and every year?

Of all the video gaming scandals and bankruptcy news in 2015, perhaps the biggest story of most had been the arrest and indictment of 14 FIFA executives, but not President Sepp Blatter.

Because, unfortunately, bankruptcies and scandals are seemingly inescapable in a world that is high-stakes fortunes are won and lost in a matter of seconds.

2015 was not resistant to news that is scandalous including a whopper involving widespread corruption at FIFA; a multi-million dollar lawsuit against a star poker player who was accused of cheating; a longtime poker magazine closing up shop; one of golf’s best players accused of participation in an illegal gambling ring; and an alleged insider trading instance that may alter the landscape of day-to-day dream activities forever.

But let’s start at the very top.

FIFA Gets Kicked

Match-fixing in soccer during the ground level takes place on a regular basis. But so-called fixing of World Cups is definitely an ball game that is entirely different.

This summer, key officials within FIFA, professional soccer’s governing body, were rounded up by the Department of Justice (DoJ) and charged with widespread, systemic corruption. The charges included fraud, money laundering, and bribery. All while FIFA’s President Sepp Blatter somehow avoided prosecution (although he was briefly suspended) in all, the DoJ, aided by an investigation by the FBI, indicted 14 top-level FIFA employees.

Blatter and FIFA, however, are far from in the clear as US authorities continue their investigation and build their instance. They have recently been joined by UK investigators too, who have actually opened their very own probe into Blatter and FIFA.

The alleged violations by FIFA date right back as far as two decades, but more recently the Justice Department’s research unveiled bribery attempts surrounding past and future World Cup bids. And considering the World Cup is the richest sporting event every year it is played, the long history of alleged bribes have added up to making this perhaps one of the primary scandals to ever hit expert sports.

Mickelson Hits a Hazard

Sports had an added scandal in 2010 when, additionally this summer, superstar golfer and five-time major champion Phil Mickelson was linked to an illegal gambling operation that is offshore. Court documents allege the operation was run by a 56-year-old bookie who has recently plead guilty and claims to have laundered nearly $3 million into the US for an unnamed client, whom ESPN’s Outside The Lines reported was Mickelson.

The ace golfer, who may have talked openly over the years about their tendency to gamble on non-golf sporting events, has denied the allegations and is not currently under research. The actual situation, however, is still pending.

Ivey Over the Edge

Moving to another guy who loves to gamble: Phil Ivey. The 10-time World number of Poker bracelet winner and arguably one of the best players of all-time is facing a whale of lawsuit by the Borgata Casino in Atlantic City for $9.6 million after allegedly cheating the casino out of millions during a baccarat that is multiple in 2012.

The Borgata’s suit, which Ivey has said publicly, ‘I’m gonna win,’ alleged that the felt superstar hatched a scheme to use an edge technique that is sorting of variants on the back of the cards, therefore having the ability to predict the thing that was being dealt.

The lawsuit also alleges Ivey even made special plans for the game, which Borgata agreed to, on the basis he had been superstitious, but that actually created a unjust advantage for him.

Not assisting issues in Ivey’s situation is the fact that he’s currently swept up in a lawsuit that is similar the pond in which Crockfords Casino withheld nearly $12 million he won playing another as a type of baccarat. Ivey is the one suing this time, to back get his money. And like Borgata, Crockfords says the ‘edge sorting’ method was used, as well.

Fantasy Sports Hits the Wall

The final big scandal of 2015 belongs to the fantasy that is daily (DFS) world, which was cruising along legitimately and regulation-free until news broke that a DraftKings employee used inside information to win $350,000 on rival site FanDuels.

With regards to ended up being exposed, everyone from feared federal prosecutor Preet Bharara (of poker’s Black Friday fame) to Congress got involved to determine whether or not the web sites were breaking federal legislation. Amid the unexpected concerns among players of DFS, the websites reported their week that is lowest of involvement yet in late October.

Caesars Holds Court, and Not in a way that is good

Caesars Entertainment’s bankruptcy drama in 2015 was ongoing and major. Embroiled within the type of complex financial restructuring that is supposed to preserve a company but that often renders its employees by the wayside, Caesars drew ire and criticism this season when it reportedly deprived 279 present and former Caesars professionals and directors some $78.6 million because of a deferred compensation program.

A reported 15,000 note holders of varied types were left waiting for whatever bit of the pie the courts and also the restructuring will utimately throw it seems unlikely that any of the deferred payment will ever be seen by said execs at them, but. We are guessing the lawyers can make away the most useful in this case, as is often the way it is in protracted battles that are legal money.

Bad Bluff

Not quite because grand a breakdown, but BLUFF Magazine also hit the skids in 2015. A longtime member of the poker community, BLUFF, founded in 2004, shut down the printing version of the mag a couple of years ago after it had been acquired by Churchill Downs, Inc. and switched a lot of the focus to coverage of the on-line poker world.

But previously this year, the magazine shuttered the digital operation aswell and let go of all of its staff, ending a run of, at one time, certainly one of the planet’s largest gaming periodicals.

California on line Poker in 2015: a go through the Golden State’s Politics, Factions, and Marketing

California on line poker stalemate: State Senator Isadore Hall(D-Southbay), whose shell online poker bill was Ca’s greatest hope in 2015. But it came to naught this year. (Image:AP/Damian Dovarganes)

The chance for California online poker in 2015 began with a sense of optimism for regulation in the Golden State.

The feeling was that this was the year it could all finally come together despite the numerous divisions of the state’s various gambling stakeholders, whose inability to see eye-to-eye had led to an impasse for the previous year’s legislation.

Perhaps sensing the challenges ahead, Assemblyman Mike Gatto (D-Los Angeles) got in here early, introducing a bill in December 2014, hopefully to give squabbling factions the necessary time to agree on mutually appropriate language.

With that move, he felt that internet poker had an even chance of passing this year in his state. His optimism may have now been too high though.

High on the range of divisive problems was PokerStars. Because the year began, a large coalition of tribal operators, which will become loosely known as the Pechanga coalition after its main agitator, was adament that the internet poker giant wouldn’t normally enter the marketplace.

Tribal Wars

Opposing them were the Morongo Band of Mission Indians as well as an alliance associated with the state’s biggest card clubs, including the Commerce, Hawaiian Gardens, and the Bicycle, who had inked a cope with PokerStars to supply online poker in a regulated landscape.

The racetracks, meanwhile, also staked their claim to an item of the world wide web poker market, fact that annoyed the Pechanga Coalition, perhaps even a lot more than PokerStars’ aspirations.

It absolutely was into this weather that Reggie Jones-Sawyer introduced his draft that is own legislation which had toned down its ‘bad actor’ language from final year’s effort. The 2014 Jones-Sawyer bill precluded PokerStars from going into the market because of its history of offering bets to Americans post-UIGEA.

This bill proposed to be more comprehensive and ended up being much cagier on the PokerStars question, hoping to appease all events. Hopes had been indeed raised if the San Manuel Band of Mission Indians defected to the Morongo faction.

Nevertheless the Pechanga Coalition, which had supported the previous year’s Jones-Sawyer bill, wasted no amount of time in slamming the brand new one. It had been ‘fatally flawed,’ it said, and ‘not sufficient to protect the integrity associated with California market.’

Talk But No Walk

During the Western Indian Gaming Conference in February, there had been much talk from both sides of the urgent need for compromise, but none ended up being forthcoming.

Once again, hopes were raised by the emergence of a bill that is new buddies in high places. State Senator Isadore Hall (D-South Bay) and Assembly Member Adam Gray (D- 21st District) both chair Governmental Organization committees of the particular chambers, and their bill quickly emerged once the frontrunner.

But the Hall/Gray bill included little actual language. Instead, it had been really a shell bill created to act as a car to hold the presssing issue through the legislature, to be filled in that opinion could be reached.

But which was to not end up being the case in 2015. If anything, divisions grew deeper if the Viejas Band of Kumayaay Indians covered a set of radio advertising spots, denouncing PokerStars and comparing the business to ‘Internet scam artists and con men.’

Charm Offensive

Meanwhile, within the lack of any legislative progress, PokerStars launched a grassroots charm offensive, developing the Californians for Responsible iPoker advocacy group, and visiting card rooms throughout the states along with its team of high-profile pros to coach the general public about the dependence on regulation.

Any online poker bill in California would need a two-thirds majority vote in the legislature to pass, which is why the consensus of the stakeholders is crucial as a fiscal issue. But, due to the mutually exclusive demands of the parties that are various, it will be as tough in 2016 as it had been in 2015.

California may very well manage sooner or later, it’s just the method may take a complete lot longer than anyone initially thought.

Leave a Reply

You must be logged in to post a comment.