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Four Things We've Learned Since Black Friday

17 April 2012, By:
Sunday was the one year anniversary of Black Friday and everyone has been focusing on what has changed or not changed in the last year.
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Today we present to you the four things we've learned in the year since Black Friday.

1) Online Players Actually Have Live Game

When Black Friday hit, online poker players had to scramble to figure out how to replace revenue streams. Some went the route of playing on US online poker sites that still exist and others decided to try the live route.

It wasn't long before players like Jared Hubbard started making headlines by dominating the live game. We also found out who the players were that preferred to move overseas rather than try being a live pro.

Black Friday has proven that not all online players are hacks at the live game and it has also helped to identify players who will never advance past the online world.

2) Online Poker Legalization is Not as Easy as Everyone Thought

Some of the quotes and stories that came out post-Black Friday were almost laughable as to just how naive many are regarding online poker.

"Expert" after expert and pro after pro came forward with their "online poker will be legalized soon" statements or with their "this will speed up the process for federal legislation."

One year later, we're no closer to federal legislation than we were a year ago. Yes, there have been "hearings," seminars and conferences, but no bill has even really sniffed a vote.

As Poker Junkie blogger Compncards has said, it will likely be 2013 before online poker is "legalized" and 2014 before we can play.

It's beginning to look like he isn't as crazy as many thought he was last year.

3) Never Keep Your Eggs in One Basket

The hardest lessons learned last year after Black Friday were those who had the majority of their online bankroll, and in some cases their personal wealth, tied up in an online poker site.

Even if you're exclusively an online poker player, you should take off some money and set it aside for emergencies or for worst-case scenarios.

Pointing back to Compncards once again, he mentioned that he pulled his bankroll early in the year after he started getting checks that hinted at money laundering.

The signs were there that something was amiss and yet people kept assuming everything would be ok.

Assumptions are the mother of all screw ups.

Going forward, players should be a little more protective of their money, even if the sites are "licensed" and funds are segregated.

4) The Poker World Proved It Could Adapt and Survive

If you read the articles and tweets that came out post Black Friday, you would have thought that every poker company shut down, all poker media was out of work and live poker rooms nationwide shut down.

People were quick to overreact, but those that understand that life is like poker turned out just fine.

Life, like poker, is always about adapting to the situation. If online poker provides fewer opportunities, switch to the live game or add it in addition to your limited online prospects.

If you were a media member and lost work because of certain online sites not sponsoring your site, look into new avenues or maybe even changing what you write about.

Compncards told us that post-Black Friday he's had more work than he had before the sites were indicted. Part of his adapting involved becoming more knowledgeable about laws and following the legal side of poker more.

Also, poker has continued to not just survive but thrive. The World Series of Poker drew the largest crowds in history and the WSOP Circuit is currently having a banner year.

We also saw growth in poker overseas, including the addition of events like iSeries Live and others.

While Black Friday may have been the darkest day in poker history for many, it also made most of us prove that we had the ability to adapt our game plan as we would at the tables.

Poker survived, thrived, and will continue to do so. For those in the US, the waiting game for online poker legalization continues.

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