Learn More About Downpayment Strategies

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Card Counting: Bits and Pieces

As promised, we’ve pocketed a little extra truth here at the bottom of our Blackjack extravaganza, just to keep you that much more on the cutting edge. Before we were talking about insurance and even money and whether you should go with them. Well, the answer is, unequivocally — MAYBE.

If you haven’t mastered counting yet, you’ll ultimately lose with insurance because about a third of the time the odds are against you. A similar concept is at work for even money, as well, inasmuch as you only gain from it if you know that the next card down the shoe is bad news. Meanwhile, casinos know—since let’s face it, they’re not idiots—that you’d have to be counting to win at these bets. So take a tip: use them ONLY to throw the counting equipment off through losses.

Now, a graphic breakdown to show you why insurance, like in the non-poker world, doesn’t actually pay:

Score Player buys insurance Player does not buy insurance
Dealer: blackjack
Player: no blackjack
Player loses the original bet, but wins 2:1 on his insurance bet, which was 1:2 of the original bet.
Losses and gains even out to 0.
Player loses 1:1.
Dealer: no blackjack
Player: wins
Player wins the original bet, but loses the insurance money.
The player wins 1:2 of the original bet.
Player wins 1:1.
Dealer: no blackjack
Player: same as the dealer
Player loses the insurance money.
The player loses 1:2 of the original bet.
Player pushes.
No loss or gain: 0.
Dealer: no blackjack
Player: loses
Player loses the original bet, and loses the insurance money.
The player loses 3:2 of the original bet.
Player loses 1:1.
Even money
Dealer: blackjack
Player: blackjack
Blackjacks even out, but the player wins 2:1 on the 1:2 of the insurance money.
The player wins 1:1 of the original bet.
Player pushes.
No loss or gain: 0.
Dealer: no blackjack
Player: blackjack
Player wins the original bet at 3:2, but loses the insurance bet of 1:2.
The player wins 1:1 of the original bet.
Player wins 3:2 of the original bet.

Smyth Scores at Poker Million VII – SPOILER ALERT!!

Friday, BoylePoker.com pro Marty Smyth left London $1 million richer after beating out six other finalists at Ladbrokes’ Poker Million VII. Smyth’s win crowns two prior final-table attempts at the Poker Million pot and brings his total career earnings to over $3.5 million.

The day began badly for Smyth when his A, K crashed against Liam Flood’s pocket poppas. The loss cleared all but $15,000 of Smyth’s chips, sending him to short stack and instantaneously causing books to offer 100:1 odds against him.

Soon, however, the Belfast native turned the tables on Flood by pairing up kings and sixes against the chip leader’s suited 4, 5. When he then knuckled out Svein Neilsen on a second run of kings and sixes, it was clear that Smyth’s bout of bad luck had broken, and books began scrambling to re-fix their calls.

Heads-up saw Smyth facing Eoghan O’Dea – son of Irish poker god Donnacha O’Dea – with both men going tit-for-tat in a blind-stealing stalemate. Finally, though, Smyth’s date with Fate proved too overwhelming for O’Dea, who called the Belfast native’s shove on Q, 9 (o) only to have his K, J(o) cracked by a pair of queens.

After the match, Smyth was more than willing to credit his fortunate draws with the win.

“I can’t quite believe it still,” he said. “I thought I was gone when I lost most of my chips early in the tournament.

“I like to think I played quite well, but certainly, after that big hand (against Flood) lots of things went my way.”

Yet, whatever the case, the win has definitely clinched Smyth’s position as Boyle Poker’s premier front man – with all that the post implies.

“Marty is a poker legend,” Boyle Poker head Paul Spillane said in a press release. “Boyle Poker (is) proud to be associated with such a unique poker talent.”

Poker Million VII Final Results:
(Place – Player – Prize)
1st Marty Smyth – $1,000,000
2nd Eoghan O’Dea – $250,000
3rd Ciaran O’Leary – $175,000
4th Liam Flood – $130,000
5th Kevin Allen – $100,000
6th Svein Petter Neilsen – $75,000

The Latest Gambling News

Webzine Network World reported Monday that the United States Tennis Association blocked access to online-gambling sites during last summer’s US Open. According to the webzine, the organization used St. Bernard Software’s iPrism Web-filtering system to prevent the event’s 21,000 credentialed participants – including players, guests and journalists – from accessing Internet-betting sites.

The move reportedly came in response to a 2007 betting scandal involving Russian player Nikolay Davydenko. According to USTA Chief Information Officer Larry Bonfante, the organization intended to avert similar scandals at the 2008 event.

“We didn’t want people at the event to have access to gambling sites,” Bonfante told Network World. “Even if it’s just the perception, we just didn’t want people to have access… so we bolted it down.”

The USTA cited “ease of installation” and “flexibility in reporting” as the two qualities that sold it on using iPrism at both the Billie Jean Tennis Center in Flushing Meadows – where the annual Long Island event takes place – and the organization’s headquarters in White Plains, N.Y.

Still, according to Bonfante, there were some 17,000 attempts made to access online-gambling sites during the two-week event.

“What the rationale there was for all this, we don’t know,” Bonfante said.

The Seoul Central District Prosecutors’ Office announced Friday that it is investigating over a dozen Korean baseball players in connection with illegal online gambling. According to the Korea Times, officials suspect 12-14 current players, as well as one-time player and television personality Kang Byung-kyu.

The Koran Times reported that the current players are members of two local teams and that some of those suspected by prosecutors are national stars. Authorities allege that the players gambled more than W1 billion ($677,048) playing online baccarat on illegal sites run by Korean nationals abroad. The Won (W) is South Korea’s national currency.

Officials say the sites in question are not the same as those they suspect Kang of using. Kang – a retired baseball player and host of the country’s popular “Vitamine” TV show – is one of 130 Korean nationals summonsed because of their connection with an illegal baccarat ring in the Philippines.

Prosecutors say Kang sent nearly $1.2 million to the ring, whose four operators earned approximately $100 million over an 18-month period.

Both accusations are the result of the National Police Agency’s crackdown on illegal Internet gambling in September and October, in which it rounded up over 1,681 people. Police say that 113 of those arrested operated the 729 gambling sites they shut down and that the other 1,568 were either gamblers or operated online currency exchanges.

Prosecutors plan to question the 12-14 unnamed players, saying, “We found that one player who had won a large sum stopped gambling after receiving a message from the site operator saying, ‘We believe you have cheated. If you continue gambling on our site, we will let your team manager know that you gambled here.’”

The Korea Times indicated that KBS, the network that airs “Vitamine,” is seeking to replace Kang with another host.