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as Vegas Sands said last Thursday the Dallas-Fort Worth area would be the top target location for a casino resort if gambling is legalized in Texas.
In a small briefing with reporters, the Sands team said Dallas would be the most attractive spot to build a resort due to its robust convention and tourism industry, as well as proximity to airports and out-of-state casinos.
“We’ll look at the entire market of Texas, but focus primarily on Dallas because that is where the greatest bleed of money is going, across the Oklahoma border,” said Andy Abboud, senior vice president of government affairs for the Las Vegas Sands, The Dallas Morning News reports. “While it has a strong tourism industry, we can enhance that.”
Abboud said the Sands team envisions building resorts in at least four major metro areas if casino gambling is legalized there. Acknowledging that overturning the state’s ban on gaming is a heavy lift in conservative Texas, Abboud said it’s important to start the conversation now to ensure long-term success. “Does it happen this legislative session? We will see. Does it happen in the near future? It is inevitable,” he said.
The Sands’ ambitious plan is an indication that the push to bring casinos to Texas remains strong after the death of founder and Sands owner Sheldon Adelson last month, and the opposition from Texas Lt. Gov. Dan Patrick this week.
“There’s so much infighting and competition among all the people in that arena; that’s why it never goes anywhere,” Patrick said Tuesday. “And so it’s not even an issue that’s going to see the light of day this session.”
As president of the GOP-dominated state Senate, Patrick has outsized power over whether legislation moves through his chamber. Abboud said he hopes to change his mind by overcoming these competing interests and bringing together like-minded partners to join their effort in the coming weeks and months.
“He’s a very impressive guy, and he has his political philosophies,” Abboud said of Patrick. “I am very optimistic and bullish on the fact that we are going to make a really compelling case.”
The Sands will be rolling out its legislation soon, Abboud said, which will seek to overturn the ban on casino gambling and create a regulatory framework that requires parties interested in building casinos there to make a minimum investment of at least a couple of billion dollars. He said the legislation would allow the state’s three federally recognized Indian tribes, one of which operates a casino in Eagle Pass with limited gaming, to move to full-fledged casino gambling.
Abboud added polling shows that Texans would vote to loosen the state’s gambling restrictions if given the chance: “Voters are way ahead of where policymakers are.”
In addition to the casino push, several pro teams told The Dallas Morning News that they have formed a coalition to legalize sports betting in Texas. The effort already has the backing of the five North Texas pro franchises, including the Dallas Cowboys, Texas Rangers and Dallas Mavericks.
Abboud hopes they can work in tandem. The sports betting coalition has not publicly backed the casino push; however, Mavericks owner Mark Cuban has expressed his support for both efforts.
On Wednesday, Abboud shot down rumors that Cuban is interested in building his own casino in the Dallas area. Cuban appeared via video to speak to the Sands’ Texas team, which now boasts 60 lobbyists, at a recent gathering in Vegas. Abboud said they have spoken to Cowboys owner Jerry Jones and other pro teams as well.
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This article was written by blackrain79.com contributor Fran Ferlan.
Playing the river optimally is what makes or breaks your winrate.
It’s the biggest money street and you often have to make a decision for your
whole stack. The amount of money in the pot by the river often paralyzes
players, because they are overly focused on the pot size, which affects their
decision making process.
So what should you do versus a big river bet? Well, when you ask a broad
question, you tend to get a broad answer, so here it is: it depends.
There’s a lot of factors to consider here: your opponent type, previous
action, board runout, pot odds, your relative hand strength, just to name a
few.
Not a huge help, so let’s try to break it down in this article.
1. Try to Bluff Catch Versus Loose and Aggressive Players
Let’s start with the type of player we are up against. Most players will
primarily bet for value when they fire off a big river bet, especially at the
micros.
The only exception would be loose and aggressive players. This is true for
both regulars and aggrofish. You can generally call wider against aggrofish
than you would against LAG regulars. The looser and more aggressive the
player, the wider you should call them down.
This is an advanced poker strategy that works extremely well in today's small stakes games. BlackRain79 discusses it in more detail in this video:
So in practice, this means that sometimes you should call them down with hands
you wouldn’t be comfortable calling with otherwise, like top pair weak kicker,
second pair, two pair on a wet board and such.
It’s important to trust your judgment in these situations, otherwise you’re
better off folding earlier if you suspect you’re going to get barrelled and
pushed out of the pot.
However, just because someone is loose and aggressive, doesn’t mean they will
have only bluffs in their range, especially on the river.
The board runout is an important factor when deciding how wide you should
call. Generally speaking, the drier the board, the wider you can bluff
catch.
Why?
Because your opponent sees the same community cards you see, and if they bet
huge on the river, they’re basically saying that the board doesn’t scare them
and they don’t care what you are holding.
On the other hand, if the river bricks (i.e. a river card doesn’t change
anything significantly, because it fails to complete any straight or flush
draws, for example), your more observant opponents might put you on a busted
draw and try to bluff you out of the pot.
They can also have a busted draw of their own, as decently winning LAGs know
the power of semibluffing on earlier streets, and know a large majority of
their opponents won’t have the heart to call down their triple barrel without
a monster hand.
In this situation, you should look for an opportunity to bluff catch with your
top pair or second pair, for example. Bear in mind that this isn’t something
you should try to do often, as these kinds of situations are more of an
exception than the rule, but who doesn’t love a good hero call from time to
time?
If you’re able to pick off a huge pot with a mediocre hand, it can do wonders
to your bottom line, as most players wouldn’t have the nerve to pull it
off.
It will also make it more difficult to play against you, because you’ll show
that you are able to call down in less than ideal circumstances, and won’t be
pushed around.
Just a disclaimer:
Know that it’s a high-risk, high reward play, and should be attempted only in
specific circumstances, against specific opponents, on specific boards and
against specific previous action.
You should base it on sound information and tells you’ve picked up on, not
just the feeling that this guy is bluffing, I’m gonna call him down with my
Ace-high.
Big River Bet Example Hand #1
Effective stack size: 100BB.
You are dealt A♦8♦ in the BB.
A LAG reg open-raises to 3x from the BU.
SB folds, you call.
Pot: 6.5BB.
Flop: T♣7♠6♥
You check. Villain bets 3BB. You call.
Pot: 12.5BB.
Turn: 2♣
You check. Villain bets 6BB. You call.
Pot: 24.5BB.
River: A♠
You check. Villain bets 16BB.
You: ???
You should call.
This is a great spot to bluff catch based on our opponent type, previous
action, and the board runout. Let’s break it down.
A loose and aggressive reg open raises from the button. We assume their range
is very wide here, probably close to 50% of all hands. We have a decent
speculative hand. We can even opt to 3-bet light from time to time, but we
decide to flat call.
We flop a gutshot straight draw, and we expect the villain to fire off a c-bet
with pretty much a 100% of their range, which he does.
The turn doesn’t change much for us, except it puts a possible flush draw on
the board. The villain double barrels, but since not much has changed for us
from flop to turn, and are getting about 3:1 odds on a call, we decide to
continue.
The river doesn’t complete our gutshot, but we do end up improving to a top
pair. Is it good enough for a call? Let’s look at it from the villain’s
perspective.
We didn’t give him any reason to assume we are holding an Ace. In fact, we
checked three times, so if they had to put us on a range, they would assume we
have a Tx hand, a busted straight or a flush draw.
Conveniently, that’s a part of their perceived range as well. The river comes
with a scare card, so it wouldn’t be a surprise if they tried to buy the pot
there.
Are we going to be good a hundred percent of the time? Of course not, but we
don’t need to be. This is something that BlackRain79 talks about in Modern Small Stakes.
They have a significant amount of bluffs in their range for our call to be
+EV, considering their player type, their open-raising position, our passive
lines, non-coordinated board and so on.
When we take all of that into consideration, we can infer that we can call
profitably.
As for the aggrofish, aka complete maniacs, you can widen your river calling
ranges considerably. It is also a high risk, high reward play, but these
players are the only ones that will have a significant amount of bluffs on the
river.
Why?
Because their ranges are already extremely wide on previous streets, so it’s
fair to assume they will get to the river with all kinds of busted draws,
Ace-high hands, fourth pair etc.
While their aggression can certainly be profitable in the short term, as even
they can occasionally catch a monster hand, they will be the most significant
long term losers.
You can’t outrun math. So when playing against them, you should be making more
hero calls than you would usually be inclined.
Be aware that their maniacal ways are usually short-lived, so you should try
to get them to donate their stacks to you before the next guy.
And you usually won’t have the luxury of waiting around for the monster hand
to try and trap them.
So next time you find yourself facing a huge river bet against them, go with
your gut, take a deep breath and call them down. Your winrate will thank you
for it.
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2. Look for Possible Completed Draws
As far as all the other player types are concerned, like fish who aren’t of
the aggro persuasion (which is most of them) and TAGs, you should be very
careful when calling big river bets. This is especially the case if they donk
bet big into you. (A donk bet is a bet made against the previous streets’
aggressor).
Look for possible completed draws and ask yourself if their previous action
makes sense that way. If the answer is yes, your overpair or top two pair
probably isn’t good enough anymore.
Think of it this way: would you bet big out of position on the river against
someone’s previous incessant aggression without a really strong hand? You
probably wouldn’t. And neither would the majority of the player pool at the
micro stakes.
Big River Bet Example Hand #2
Effective stack size: 100BB.
You are dealt A♠Q♠ on the BU.
You open-raise to 3x.
SB folds, a loose passive fish calls in the BB.
Pot: 6.5BB
Flop: A♦3♦Q♥
Fish checks. You bet 5BB. Fish calls.
Pot: 16.5BB
Turn: 8♣
Fish checks. You bet 16.5BB. Fish calls.
Pot: 49.5
River: J♦
Fish bets 40BB.
You: ???
You should fold.
Let’s break down the action street by street.
There’s not much to say about preflop. We’re dealt a great hand on the button,
and we can assume the recreational player will call us down pretty wide in the
big blind.
We flop top two pair and should start building the pot as soon as possible. We
expect to get called by a bunch of Ax hands, gutshot straight draws, flush
draws, you name it.
The turn doesn’t change much, but it does add a couple of gutshot draws if our
opponent called the flop with hands like JT, J9, or T9, for example.
We’re still miles ahead of villain’s range, so we decide to charge them a
premium for their drawing hands. We can even consider overbettting, but we go
for a pot sized bet.
And we get one of the worst river cards possible. The fish fires off a huge
donk bet. There is nothing left for us to do but bemoan our luck and fold
begrudgingly.
The Jack on the river completes a number of straight draws and a flush draw.
If we go back to preflop, we should expect this particular opponent to have
practically all suited junk in their range.
Fish love chasing draws, and they love playing suited junk. Nevermind the fact
that the chances of flopping a flush are only 0.8%.
Now, we could argue that it’s a fish, they don’t know what they’re doing, they
could be bluffing. Or they could have any number of two pair hands we’re ahead
of. Fair enough.
But if they did have a two pair hand, for example, wouldn’t they go for a
check-call option, considering such a scary board?
Even fish can see three diamonds on a board. And yes, they could be bluffing,
but there is nothing in their previous history that would suggest that.
You should always be on the lookout for disrupting patterns when playing
poker.
If an otherwise weak and timid opponent suddenly starts blasting off big bets,
they didn’t just randomly decide to mix it up a little. They are politely
letting you know they have the nuts.
As a rule of thumb in poker in general, calling should be the last option you
consider. As the old adage goes, if your hand is good enough for a call, it’s
good enough…
The Gaming Board is still looking for an investment banker to evaluate three applicants
T
he process to award a license to develop a casino in Waukegan next year has been delayed a few months as the Illinois Gaming Board is still looking for an investment banker to help it evaluate the three applicants.
Before the board can award a license for the casino, which will be part of an entertainment center on 28 acres of city-owned land adjacent to the Fountain Square shopping center, it must retain the services of an investment banker to assist with the competitive bidding process, the Chicago Tribune reports.
Though the board issued a formal request for proposal inviting bids from investment bankers to assist the evaluation, administrator Marcus Frutcher said at a Jan. 27 meeting no bids were received by the Jan. 8 deadline causing further delay to granting the Waukegan license.
"Unfortunately we did not receive any bids, and therefore could not retain an investment banking firm to assist with this process," Frutcher said at the meeting. "The procurement code imposes a number of steps we must complete, and we are working through them in an expeditious manner."
When the board issued its RFP in December, it sought the help of investment banks and other experts to review matters including the casino project’s economic impact, potential job creation and overall financial projections.
Based on 2019 legislation authorizing additional casinos in Illinois, Waukegan, Danville, Rockford, the south Cook County suburbs and far Downstate Williamson County were slated to get one.
Three bidders were approved by the Waukegan City Council in 2019, leaving the board to pick the licensee. A winner was expected in October. Frutcher said at the board’s Oct. 29 meeting a decision was delayed because of both the coronavirus pandemic and the need for an investment banker.
Joe Miller, a press spokesperson for the gaming board, said there are multiple options open to the board to select an investment banker, including the posting of another RFP. He did not know when that might happen because the board does not speculate about timelines.
Frutcher said in October once an investment banker is chosen, the board would likely announce the licensee within six months. Miller said he does not know why no bids were received.
Waukegan Mayor Sam Cunningham said he was disappointed by another delay, but continues to look forward to the eventual development as an economic boon for the city and other communities in northeastern Illinois. He understands the need for review by financial experts.
“They want to make sure the applicants’ numbers are in the ballpark,” Cunningham said. “I’m disappointed, but optimistic because it’s going to happen. The time frame is going to be longer.”Cunningham said with the latest delay, he does not anticipate construction starting until the second or third quarter of next year.
The three applicants for the Waukegan Casino are Full House Resorts, North Point Casino and Midwest Gaming. While a representative of Midwest Gaming said the company had no comment on the delay, the other potential licensees remain excited about the project. Both North Point and Full House have secured the necessary financing for the project, representatives said.
Bill Warner, the CEO of Warner Gaming, which is part of the North Point group, said in an email he respects the gaming board’s diligence but remains excited about building and operating a casino in Waukegan.
“North Point Casino is fully capitalized, and is ready to build a locally-focused world-class entertainment destination in Waukegan right now.” he wrote. “We believe Waukegan is worth waiting for, and our commitment to the community will not waiver with time.”
Alex J. Stolyar, the senior vice president and chief development officer of Full House Resorts, Inc., said his company also has its financing in place, and is ready to proceed should Full House receive the license.
“We’re excited about getting started,” he said. “We’re fully capitalized, and ready to proceed as expeditiously as possible.”
Stolyar said once the license is issued, Full House plans to open a temporary casino on the site within six months. He anticipates construction will start on the permanent operation quickly, and be ready in around two years.
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