Friday, January 28, 2022

Media Man Promotions Blog: Seminole Hard Rock Hotel & Casino Hollywood Announces Winners of 2022 Lucky Hearts Poker Open

Seminole Hard Rock Hotel & Casino Hollywood Announces Winners of 2022 Lucky Hearts Poker Open



Hollywood, Fla. (Jan. 28, 2022) – Seminole Hard Rock Hotel & Casino Hollywood concluded its 2022 Lucky Hearts Poker Open (LHPO) on Wednesday with the second biggest World Poker Tour (WPT) live field in its history. Besting 1,982 entries in the WPT LHPO Championship, Alexander Yen of Indianapolis, Ind. made history by winning $975,240.

“It feels absolutely incredible,” said Yen. “I’ve never won a live tournament before. I don’t even think I’ve won online, so this is a pretty unreal feeling.”

The $3,500 WPT LHPO finale boasted a final prize pool of more than $6.3 million, easily exceeding the $2 million guarantee. The last 248 spots were paid $6,275 for a min-cash.

Championship Final Table Results:

1st: Alexander Yen Indianapolis, Ind. $975,240

2nd: Anton Wigg Stockholm, Sweeden $650,180

3rd: Daniel Lazrus Long Island, N.Y. $482,380

4th: Nicholas Verderamo Baltimore, Md. $361,130

5th: Josh Kay Delray Beach, Fla. $272,830

6th: Omar Lakhdari Paris, France $208,025

The 33-event LHPO kicked off on Thursday, Jan. 13 with the $600 Deep Stack No Limit Hold’em (NLH) opener. With a state record of 4,960 entries, the event more than doubled the $1 million guaranteed, creating a total prize pool of more than $2.5 million. Farid Jattin Miami, Fla. won the opener earning $306,832 after a heads-up deal with second place finisher Dustin Nelson Tallahassee, Fla.

Other signature event winners include:

Jonathan Jaffe Plantation, Fla. winning the $25,500 High Roller NLH (Re-Entry) for $574,085

James Romero Wilsonville, Ore. winning the $2,200 Deep Stack NLH (Re-Entry) for $167,285

Taylor Von Kriegenbergh Jersey City, N.J. winning the $5,000 Deep Stack NLH (Re-Entry) for $220,495

Poker Action will return to Seminole Hard Rock Hollywood with Seminole Hard Rock Poker Showdown March 24 – April 12, 2022, headlined by the $400 Deep Stack NLH series opener with a $500,000 guarantee and the $3,500 WPT Poker Showdown Championship boasting a $3 million guarantee.

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Seminole Hard Rock Hollywood

Thursday, January 13, 2022

Media Man update: New York 51% tax on Sports Betting

New York 51% tax on Sports Betting



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New York became the largest US state to embrace online sports betting but the high tax rate makes it close to impossible to compete.

The betting companies operating in the Empire State include DraftKings, FanDuel, Caesars Sportsbook, and Rush Street Interactive.

That'll make it harder for operators to profit off their customer bases in the state, Jason Ader, CEO of SpringOwl Asset Management and 26 Capital Acquisition Corp, tells MSN News.

"Everybody wants to be in New York because it's a trophy market in terms of the size of the state and its importance, but the tax rate is really prohibitive," Ader said. "It's very hard to make money in sports betting. Put 51% tax rate on it and it's maybe a bit more like a fool's gold rush than a gold rush."

As far as players go, these taxes will likely be passed down in the form of less attractive lines, bonuses and cashout fees.  In the early months, companies may seek to reduce the affect on customers.  These companies will also report all winnings to the IRS, something offshore sportsbooks and local bookies do not do.

Some websites licensed outside the state in offshore jurisdictions continue to do business in New York.  Many, like Bovada, BetOnline and BetAdrian, have pulled out of that market.