DoylesRoom Man Subpoenaed In Online Poker SEC Query
Last year the Securities and Exchange Commission began investigating the legendary poker pro Doyle Brunson, after the septuagenarian made a huge bid for the World Poker Tours parent company, WPTE, Inc, a bid that was not solicited by the folks at the World Poker Tour. The bid was for around twice what the company was worth, based on the market value of the WPTE shares at the time. Twice now the SEC has subpoenaed the man thought to run doylesroom.com, the online site of the poker pro, Wallace Nakano.
Nakano has yet to follow the subpoenas as he claims they were not properly served to him…
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Poker dictionary:
- BICYCLE - The best possible low hand: A-2-3-4-5. More common term: WHEEL.
- FREEROLL - [1] A poker tournament that does not charge a buy-in fee; players must earn buy-in credits through previous play at the same establishment. [2] Having a lock on part of a pot (sure to win a greater fraction of the pot than one is betting) and playing to win more or all of it.
- RERAISE - To raise after an opponent has raised.
- COLD CALL - Calling both a bet and raise at the same time, as opposed to calling a bet then later calling a raise made after the call.
- RACE - In tournaments it is sometimes convenient to remove all lower-denomination chips from play, as the remaining players' stacks tend to grow. Small chips are converted to larger chips and any odd chips are "raced off" in the following way: each player with odd chips places them in front of his stack and is dealt one card for each chip. Highest card (rank and suit) takes all the small chips and converts them to higher-denomination chips.
- QUALIFIER - A minimum standard that a hand must meet in order to win. Usually applied to the lowball side of a high-low split pot.
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