New Law Could Slow the Growth of Poker

My Nazarene background taught me that gambling is wrong, but I have to admit that I enjoy watching televised poker tournaments like The World Series of Poker or The World Poker Tour. Although some will argue that poker can't possibly be a "sport" (they say the same thing about NASCAR), there's no doubt that millions have taken it up much as they would a sport and the popularity has skyrocketed in the past few years.

A new law recently signed by President Bush included a prohibition on U.S. banks funding online poker transactions, and that may have a dramatic effect on the growth of the game:

Observers say the recently enacted U.S. law that bans gambling online could cut into the number of entrants to the planet's richest card game _ the World Series of Poker.

The number of players in the tournament, run by Harrah's Entertainment Inc., has ballooned thanks largely to the online game. In 2003, a mere 839 participants took part when accountant Chris Moneymaker emerged from a $40 Internet tournament and went on to win the $2.5 million grand prize. This year, 8,773 players gambled for part of an $82.5 million prize pool and more than half are estimated to have won tournaments over the Web to play.

With the law banning banks from processing Internet gambling transfers set to be enforced before next year's tournament, the well of poker players is expected to dry up.

"It's going to affect the average player most dramatically. And those players are the ones that have kind of filled the ranks," said Michael Bolcerek, president of the Poker Players Alliance, a 130,000-member group that fought the legislation.

"The hardcore ones will find somewhere, they won't care whether it's regulated," said Bolcerek. "That's what a prohibition does. It drives everything underground."

Mike Sexton, who hosts the popular World Poker Tour on the Travel Channel, said the ban would hurt what has become considered a sport.

"I wouldn't say it would put poker in a death spiral but in the long run it will hurt the growth of poker," Sexton said. "The World Series of Poker is going to be devastated over this."

Poker is not a game that should be played by the fainthearted since with one flip of the cards you can lose everything you've got. But for those who can afford it and have the skills and desire to make a living playing it, I don't see the harm.

Some will argue that for every winner there are untold numbers of others who may ruin their financial lives and possibly their families in the pursuit of riches that can be won in the game, and therefore it's something that shouldn't be encouraged. But the same can be said for many sports. Several times a year somebody wraps their car around a tree because they think they're Michael Shumacher and have driving skills that they clearly don't possess. It happened near my house just a few weeks ago.

The government means well with these regulations, but just as it did with prohibition, it will drive the market underground and the players and sponsor organizations will still find a way to compete.