FEDS FREEZE $30M IN ONLINE POKER STASHES

The feds just played a big trump card in their war against online gambling — freezing more than $30 million in poker players’ kitties. John Pappas, executive director of the Poker Players Alliance, called the move involving 20,000 players’…

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Poker talk:

PAY OFF - Calling a bet with little expectation of winning, unless the opponent is bluffing.
RAKE - Money taken from each pot and given to the house in return for hosting the game. Usually a percentage of the pot (5%-10%) up to some maximum amount.
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.
CALLER - One who calls. Sometimes used collectively, as in "3 callers".
BURN - To discard the top card of the deck prior to dealing, usually done for every dealing round except the first. The theory being that if somehow the cards are marked (illegally) no one will know what card will next be dealt, only what card will be burned. This makes marked cards less of an advantage, hence tends to reduce cheating.
POSITION - One's location in the betting sequence, relative to the players still in the hand. First position is first to act.

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