Press Release: Sklansky's ''WORLD POKER TOUR ALL-IN HOLD 'EM(TM)"

[Luv2DriveTT]

''WORLD POKER TOUR ALL-IN HOLD 'EM(TM)'' Table Game Approved by Gaming Commission in Nevada; Casinos Launching Game in the First Wave Include Bellagio, Mirage and TI-Treasure Island (http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=2005112900525 7&newsLang=en)
MINNEAPOLIS--(BUSINESS WIRE)--Nov. 29, 2005--After a very successful field trial at Bellagio, the Nevada Gaming Commission has approved the formal rollout of the WORLD POKER TOUR ALL-IN HOLD 'EM(TM) table game for use in all casinos within the state of Nevada. Bellagio plans to immediately expand to two tables and the Mirage and TI-Treasure Island intend to debut the game in December.


The WORLD POKER TOUR ALL-IN HOLD 'EM(TM) game will also be unveiled at the Gold Strike in Tunica, MS, in January, bringing the total number of casinos hosting the game to 10. Other locations include Sycuan Resort and Casino (El Cajon, CA), Agua Caliente Casino (Rancho Mirage, CA), Greektown (Detroit, MI), Ameristar Casinos (Kansas City and St. Charles, MO) and Lac Vieux Desert Casino (Watersmeet, MI).

The WORLD POKER TOUR ALL-IN HOLD 'EM(TM) table game capitalizes on the power, success and fan loyalty inspired by the WORLD POKER TOUR(R), the breakthrough television show that launched the worldwide poker boom. The show is now seen in more than 120 countries and territories. WPT Enterprises, Inc. (Nasdaq: WPTE), the entertainment and media company that films and produces the WORLD POKER TOUR television series shown on Travel Channel, has licensed its name and brand to the game pursuant to a licensing agreement with Lakes Entertainment, Inc. (LACO). Developed by David Sklansky, a world-renowned poker expert and author, the table game has been licensed to Lakes Entertainment for distribution.

"We believe that the WORLD POKER TOUR ALL-IN HOLD 'EM(TM) table game provides players the most exciting table game experience possible, under the premier brand in poker. Wherever it has been introduced, it has become one of the most popular games on the casino floor," said Lakes Entertainment CEO Lyle Berman. "The number one reason that it has proven to be so popular is that it is so 'player friendly.' It's extremely simple--easy to play and to deal."

Lakes Entertainment has continued to add additional elements and refinements to the game to enhance player and dealer experience. It now includes an unprecedented training module for dealers and supervisors.

The game debuted for its initial Nevada trial on April 22, 2005 at Bellagio. Bill Bingham, Vice President Table Games at Bellagio reported to Lakes Entertainment, "The game has been performing above expectations. The interest level has been very high, and the response from the players and staff has been extremely favorable. As you know we positioned the game in close proximity to our Poker Room, and I believe this has resulted in significant crossover play."

That was followed by a report from Jason Pool, Vice President Table Games at Lac Vieux Desert in Michigan, who advised: "I just thought I would tell you about the AWESOME numbers. In the last three months the game has been averaging a hold percentage that is 50% above our projections. Three Card (Poker) doesn't have a chance. Right now WORLD POKER TOUR ALL-IN HOLD 'EM(TM) is the best game we have in the pit..."

WORLD POKER TOUR ALL-IN HOLD 'EM(TM) allows poker fans to experience the same kind of excitement that they have been accustomed to seeing on their television sets when watching the WORLD POKER TOUR. Players can strategize their betting and experience the thrill of making an "all-in" raise or a big bluff. Like the No Limit Texas Hold 'Em poker played on the WORLD POKER TOUR, the WORLD POKER TOUR ALL-IN HOLD 'EM(TM) table game "takes a minute to learn for a lifetime of action" - to paraphrase WPT commentator Mike Sexton. WORLD POKER TOUR ALL-IN HOLD 'EM(TM) is distinctive, however, in that players only play against the dealer rather than against the other players at the table.

For more information on casino licensing of the WORLD POKER TOUR ALL-IN HOLD 'EM(TM) table game, contact Jack Malisow at Lakes Entertainment (952) 449 7024 or email: jmalisow@lakesentertainment.com. View more on WORLD POKER TOUR ALL-IN HOLD 'EM(TM) at www.lakesentertainment.com. (http://www.lakesentertainment.com.)

More About WORLD POKER TOUR ALL-IN HOLD 'EM(TM)

What makes "WORLD POKER TOUR ALL-IN HOLD 'EM(TM)" distinctive is that, unlike the traditional Texas Hold 'Em played on the Tour, players don't bet against their fellow players--they bet against the dealer only! The table is specially designed to showcase a new derivation of Texas Hold 'Em, which is easy to learn, easy to play, and provides plenty of action.

In "WORLD POKER TOUR ALL-IN HOLD 'EM(TM)" each player is required to bet the blind ante on every hand. Then the player has other betting options, including bonus bets on the hole cards and the final value of the hand. For example a Royal Flush pays 500-1, four-of-a-kind pays 40-1, while a "pocket pair" of Aces pays 20-1."

Once players have seen the hole cards, they can fold, raise the blind ante by betting five times or "go All-In", by raising ten times the ante bet. Then the action turns to the dealer, who will fold and pay off the blind antes, or call. If the dealer calls (based on specific rules), the play continues with the flop, turn and the river. If the player's best five-card poker hand beats the dealer's, the player wins his ante and raise bet.

TT /images/graemlins/club.gif

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http://lakesentertainment.com.ismmedia.com/ISM2//Games/wpt_rules.jpg

[SheridanCat]

Anyone know the house edge on this game? I'm guessing it's pretty attrocious.

Thanks,

T

[junkmail3]

[ QUOTE ]
Anyone know the house edge on this game? I'm guessing it's pretty attrocious.

Thanks,

T

[/ QUOTE ]

In a sincere tone, (since people who say 'use the search function' are ususally being jerks), if you search, I'm pretty sure it was mentioned a while back ... 6 months - 1 year? I can't remember, but I thought I saw it a while ago.

I'd be interested to know if you find it.

[kenberman]

[ QUOTE ]
[ QUOTE ]
Anyone know the house edge on this game? I'm guessing it's pretty attrocious.

Thanks,

T

[/ QUOTE ]

In a sincere tone, (since people who say 'use the search function' are ususally being jerks), if you search, I'm pretty sure it was mentioned a while back ... 6 months - 1 year? I can't remember, but I thought I saw it a while ago.

I'd be interested to know if you find it.

[/ QUOTE ]

DS ran over the #'s in a post he did. he posts infrequently enough that you could probably find it just by looking through his posts

[SheridanCat]

[ QUOTE ]

In a sincere tone, (since people who say 'use the search function' are ususally being jerks), if you search, I'm pretty sure it was mentioned a while back ... 6 months - 1 year? I can't remember, but I thought I saw it a while ago.

I'd be interested to know if you find it.

[/ QUOTE ]

You're right, I should have searched on this.

Well, I slogged through the archive server search and found nothing. I probably didn't have the search terms right. However, it only took a second with Google to find this from the Wizard of Odds (http://wizardofodds.com/allinholdem).

The house edge is suprisingly small. I'm surprised it was even spread at a casino. I guess the power of the poker boom makes it worth it.

Regards,

T

Edit: Ah, the house edge is in the side/sucker bets. Should have seen that coming.

[kenberman]

[ QUOTE ]
[ QUOTE ]

In a sincere tone, (since people who say 'use the search function' are ususally being jerks), if you search, I'm pretty sure it was mentioned a while back ... 6 months - 1 year? I can't remember, but I thought I saw it a while ago.

I'd be interested to know if you find it.

[/ QUOTE ]

You're right, I should have searched on this.

Well, I slogged through the archive server search and found nothing. I probably didn't have the search terms right. However, it only took a second with Google to find this from the Wizard of Odds (http://wizardofodds.com/allinholdem).

The house edge is suprisingly small. I'm surprised it was even spread at a casino. I guess the power of the poker boom makes it worth it.

Regards,

T

[/ QUOTE ]

the house edge - using optimal strategy - is bigger than in blackjack or craps.

also, it seems harder to play optimal strategy in this game.

don't know why anyone smart enough to do so, would do so.

[SheridanCat]

[ QUOTE ]

the house edge - using optimal strategy - is bigger than in blackjack or craps.


[/ QUOTE ]

Yes, I see that now.

All-In Hold'em (ante): 1.5%
Craps (pass line only): 1.41%
Craps (pass line with odds): <1%
Blackjack: depends on rules, but can be very low

Thanks,

T

[augie00]

This looks like a great table game. Nice house edge in the side bets but people will really like to play it. This game could be a big hit. Well done, David.

Hell, I might even play a few hands of this game if I'm feelin' those aces comin!

[felson]

[ QUOTE ]
DS ran over the #'s in a post he did. he posts infrequently enough that you could probably find it just by looking through his posts

[/ QUOTE ]

He wrote about it in one of the older 2+2 magazine articles. It's more than 3 months old, though, so the article is no longer available on the site.

[bobbyi]

[ QUOTE ]
Edit: Ah, the house edge is in the side/sucker bets. Should have seen that coming.

[/ QUOTE ]
The house edge is also in the fact that no one is going to play optimally. For blackjack, at least some people sit there with the little reference cards or have basic strategy roughly memorized (or ask the dealer what to do). In craps, playing optimally is easy. How many people who sit down to play this new game do you really think will play anywhere near correctly?

[NoRiverRats]

Might be good for gettting people into the game, less intimidation in playing a table game like that than walking into a poker room and sitting down with degenerates like 2plus2ers.

[MCS]

[ QUOTE ]
How many people who sit down to play this new game do you really think will play anywhere near correctly?

[/ QUOTE ]

Yeah, the optimal strategy is pretty nonintuitive. Even being a good poker player doesn't help all that much with this game. That's why I think the house edge in practice will be huge.

[ddubois]

It somehow seems unfair that the game hardest to play optimally has the largest house edge when played optimally.

[BlueBear]

This game will appeal to both the casual (who wishes to copy their heroes in TV) and serious mathematical gambler (who searches for the least -EV game). This game sounds like a winner. Well done, David.

[Clarkmeister]

[ QUOTE ]
[ QUOTE ]

In a sincere tone, (since people who say 'use the search function' are ususally being jerks), if you search, I'm pretty sure it was mentioned a while back ... 6 months - 1 year? I can't remember, but I thought I saw it a while ago.

I'd be interested to know if you find it.

[/ QUOTE ]

You're right, I should have searched on this.

Well, I slogged through the archive server search and found nothing. I probably didn't have the search terms right. However, it only took a second with Google to find this from the Wizard of Odds (http://wizardofodds.com/allinholdem).

The house edge is suprisingly small. I'm surprised it was even spread at a casino. I guess the power of the poker boom makes it worth it.

Regards,

T

Edit: Ah, the house edge is in the side/sucker bets. Should have seen that coming.

[/ QUOTE ]

It's MUCH harder for most people to play optimally. This game tends to be the highest hold game on the floor. It almost holds too high.

[Easy E]

[ QUOTE ]
said Lakes Entertainment CEO Lyle Berman. "The number one reason that it has proven to be so popular is that it is so 'player friendly.' It's extremely simple--easy to play and to deal."

That was followed by a report from Jason Pool, Vice President Table Games at Lac Vieux Desert in Michigan, who advised: "I just thought I would tell you about the AWESOME numbers. In the last three months the game has been averaging a hold percentage that is 50% above our projections.

[/ QUOTE ]

I guess I'll have to redefine "player-friendly." /images/graemlins/confused.gif

[ QUOTE ]
and experience the thrill of making an "all-in" raise or a big bluff

If the dealer calls (based on specific rules), the play continues with the flop, turn and the river. If the player's best five-card poker hand beats the dealer's, the player wins his ante and raise bet.


[/ QUOTE ]

No wonder it's holding so well for the casino, if people are "bluffing" the dealer /images/graemlins/shocked.gif

[ QUOTE ]
I guess I'll have to redefine "player-friendly."

[/ QUOTE ]

Casino Owner Dictionary

Definition of "player-friendly"
<ul type="square"> 1. Requires no gambling knowledge to participate
2. Allows occasional winning by participant
3. Requires no gambling knowledge to participate
4. Allows multiplicity of ways to lose money
5. Requires no gambling knowledge to participate
6. Provides opportunity to relate adventures to "folks back home"
7. Requires no gambling knowledge to participate [/list]

[kenberman]

[ QUOTE ]
and serious mathematical gambler (who searches for the least -EV game).

[/ QUOTE ]

how will this game attract the serious mathematical gambler?

this game is unbeatable (unlike blackjack, sometimes anyway) and has a word edge than craps.

Is this the same game that was shown on "American Casino"?

[VeryTnA]

odds chart (http://wizardofodds.com/games/images/allinholdem.gif)

[Luv2DriveTT]

[ QUOTE ]
odds chart (http://wizardofodds.com/games/images/allinholdem.gif)

[/ QUOTE ]

or better yet http://wizardofodds.com/allinholdem . Interestingly this is a quote from the wizard:

World Poker Tour All-In Hold'em is poker based table game currently on field trial at the Bellagio. The rules are very true to real poker and the Element of Risk is only 0.23%, making it possibly the best bet in the Bellagio.

TT /images/graemlins/club.gif

[tonypaladino]

I don't play table games except for craps, so please ecxuse the noob question.

Would you actually be able to print out the strategy chart and have it with you at the table? Would the floor allow that?

Also, I say some "Hold'Em" table games at a couple of atlantic city casinos this weekend, but there were to many people crowding around them to get a close look. Anyone know if this is the same game?

[Vlorg]

I played this game quite a bit a few months back when it was in testing at the Bellagio. It was a pretty fun time when taking a break from real poker. The key of course is the element of risk is extremely low, much lower than the house edge since you are putting a lot more money in when you have the best of it.

I probably played a total of 8 hours and never once saw another person playing anywhere close to perfect strategy. I completely memorized the strategy before I ever sat down for the first time. I was the only person that raised all in with the crap hands. I didn't see a single other person 'bluff'. I even had a dealer flip out on me when I raised all in with AA, trying to tell me how bad a play it was because she would have folded most of the time. 90% of the players played the side bets and many of them played that as their main game folding almost all their hands. No wonder the hold was more than they expected.

I'm glad it got picked up. It's the only table game I'll ever play.

Vlorg

[bobbyi]

[ QUOTE ]
Would you actually be able to print out the strategy chart and have it with you at the table? Would the floor allow that?

[/ QUOTE ]
At blackjack this is definitely allowed and not even that uncommon (a lot of casinos sell blackjack basic strategy reference cards in the giftshop). So I don't imagine the same is fine in any table game.