Michael Craig's Journal

Amy Calistri and I have a semi-regular phone call. It is usually occasioned by some quasi-news item, either in poker or personal to one of us (which means it’s about poker). But that’s not important.

Every call ends the same. Amy tells me about some site that went down, or someone who got fired, and I reply by saying something deep and intellectual like, “Someday, when I actually read that law, I hope to find something that encourages me to believe this is all a panic. Because it doesn’t FEEL like the world is ending.”

Amy then explains something logical and rational, and I reply by saying “It just doesn’t seem like the world is ending. I’m going to have to read that law some time.”

This usually goes on until the high temperature from my cell-phone battery gives me a heat rash and I hang up.

I talked about this subject with Andy Bloch the other day and he pointed out something at least slightly relevant: none of the networks broadcasting poker or planning on it have pulled out. These network types are sometimes known for feet of clay. But ESPN isn’t cutting back its WSOP coverage or trying to edit out logos. ABC is still planning on running the pro-am equalizer tournament for a month of weekends in November/December. NBC is still filming Poker After Dark with ads and logos. And the sites that shut down in the U.S. are growing unbelievably fast.

Something bad could happen, but I don’t think it’s happened yet. Of course, if some people/sites panicked, the dislocation they caused was real. But the ones who have stuck it out are prospering, and the smart money is supporting them.

Andy also mentioned something to me about Harrah’s that made a lot of sense. (He would run the World Series so much better than Harrah’s that it’s silly, and I’m not just saying that because we’re friends or because he had a smart idea or two. He UNDERSTANDS this business.) Harrah’s, he thought, should start running World Series super-satellites at every property throughout the U.S. and around the world and/or license the WSOP out to other poker rooms.

Harrah’s benefits so much from the World Series, especially from the feeling that pervades that something really hot is going on. If the Main Event draws 2,500 next year, that feeling is going to dissipate. All the ad revenue, TV revenue, merchandising revenue, etc. are endangered. Even though the people on the site are just a tiny fraction of the people watching on TV and buying all that stuff, the FEELING that something big is happening drives it all.

They need a big number for the main event. And the thousands who qualified online who may not be able to do that will still WANT to win their way in. Plus Harrah’s mades $600 juice per player. Plus they make something on the juice for every entry in every super-satellite. Plus that brings traffic into those poker rooms. Plus that brings traffic into those casinos.

Andy Bloch is a genius. His brain is so valuable that Full Tilt even put a cowboy hat on his avatar to protect THE AVATAR’S BRAIN.

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This entry was posted on Wednesday, November 1st, 2006 at 2:08 am and is filed under My favourites:.