New Online Poker Documentary Released
A much-anticipated documentary about the rise and fall of online poker in the United States called Bet Raise Fold has finally been released. There are relatively few movies about poker despite the game’s popularity, and even fewer that take a real-life viewpoint, so there has been considerable buzz about the film in the months leading up to its release.
The feature length film follows the ups and downs of three online poker players – Martin Bradstreet, Tony Dunst, and Danielle Moon-Andersen, a mom from the state of Minnesota.
Film prominently features Black Friday events
Bet Raise Fold was filmed prior to, during, and after April 15, 2011, the date known as Black Friday to fans and followers of online poker. The producer, Jay Rosenkratz, himself a player of online poker, remarked on the film’s unique ability to portray the events surrounding the US government’s crackdown on offshore gambling companies that offered real-money online poker games to American players.
“We were the ones with the cameras rolling when Black Friday happened,” Rosenkrantz said. “We were able to capture that drama from a personal perspective to make the movie that more powerful, more compelling story.”
Movie captures downfall of major online poker rooms
As a result of Black Friday, major online poker sites Full Tilt Poker and PokerStars ceased operations in the United States, with player funds seized by the government at that time. Last summer, PokerStars settled its civil case with the federal government, paying out $731 million to acquire the assets (and debts) of former rival Full Tilt in the process.
Part of the settlement funds went toward reimbursing foreign accountholders, who were repaid last fall when PokerStars relaunched Full Tilt in regulated markets outside the United States.
US-based players have yet to receive compensation, and though the remission process is underway, it could drag on for one or two more years. Whether or not so-called victim players will be refunded the full value of their accounts remains to be seen.
Documentary released as online poker’s fortunes are beginning to turn
Incidentally, the film is being released at a time when online poker is emerging from under the dark cloud it has occupied since Black Friday, and even prior, going back to 2006 and the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA), which restricted certain financial transactions related to online gambling.
Three states have already regulated some form of online betting, with real-money gambling sites scheduled to launch in Delaware and New Jersey later this fall. The first regulated online poker room in Nevada went live back in April. A handful of other states are looking at introducing online gambling, with populous states like California and Pennsylvania considering legislation.
Rosenkratz views the release of the film as an opportunity to continue to reshape the image of the game, and feels that the fact that the movie follows relatable individuals goes far in advancing the cause.
“We felt this intense personal responsibility to getting this right, to giving poker players a voice,” he said. “I came of age myself in this world so I felt this responsibility to really tell the story right because we felt no one else could do it or have a chance to do it.”
