Money Sought by Poker Machine Outfit
Poker machine fans may notice a dearth of their favorite pastime after 2012, when poker machine powerhouse TABCORP will be without a license, thanks to the actions of the Brumby Government. Tabcorp is embroiled in a legal battle with the government in order to get the licensing reinstated for the future and, failing that, is seeking a payout of $680 million as recompense. Coming on the heels of this news is the announcement that Tabcorp has posted a net loss of $164 million for the year, as opposed to last year’s profit of $450 million.
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Poker argot:
- DRAW - [1] A class of poker games characterized by players being dealt 5 cards face-down and later having the opportunity to replace some of the original 5. "Draw poker" and "Five-card draw" are examples of usage. [2] In stud and Hold'em games, the set of cards that will be dealt later can be collectively called "the draw". [3] To discard some number of cards and have dealt an equal number of replacements.
- POT LIMIT - A game where the maximum bet is determined by the size of the pot at the time. Note that a player wanting to raise first calls the bet, then totals the pot to determine the maximum amount he can raise.
- FORCED BET - In some stud games a player may be required to make a bet to start the action on the first card. This is similar conceptually to blinds and antes, but in this case is dependent on the cards shown rather than player position. Usually the weakest hand is forced to bet.
- LITTLE SLICK - In Hold'em, hole cards of A-2, suited or not.
- STRING BET - An unethical and often illegal means of raising whereby a player puts a call-size stack of chips into the pot and, after observing the reactions of the players, then goes back to his stack and puts out more, thus raising.
- CUT - To break the deck into 2 stacks of at least 5 cards each. Usually performed by the player to the dealer's right to insure that the the deck is not stacked.
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