Ray Bitar and Bright Trading

Quote from JackDogII:

See if this connects it for you.

I believe most of the traders at Bright Trading lost money. All of the players at Full Tilt lost their money. An Ex Bright manager orchestrated the Full Tile debacle and according to Forbes faces 145 years in prison.

The funny thing is that those that lost at Full Tilt, thanks to the Poker Stars purchase have a much greater chance of getting their money back than those that suffered losses at Bright.

My opinion is that members and/or ex members of the Bright management team are responsible for 1) the empty parking lot and 2) the loss of tens of millions of dollars by tens of thousands of players.

Management Styles? Birds of a Feather?

How much Don and Bob have stashed from all this is hardly the point.


Jack
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I pray for the future of our species that you're sterile.
 
Quote from atticus:

I pray for the future of our species that you're sterile.
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what I don't understand is why a flush beats a straight. Seems like it is a hell of a lot easier to hit a heart than it is a seven.
 
He, Lederer and Ferguson were the big 3 at Full Tilt Poker. If Lederer got 40 mil, Bitar did as well. If not for Poker Black Friday, taking that kind of distribution with the amount of money they were making, would have been justified. Being the house in online poker is the biggest edge any trader ever gonna get. It was a license to print money. PokerStars didn't even blink when they agreed to bailout FT for 3/4 of a BILLION dollars.

Quote from Grandluxe:

Hmm why did he leave Bright to do poker....
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Ranking hands is done by calculating the number of possibilities in 52 card deck. There are twice as many ways to get a straight than a flush. Flush has 5108 poss vs a straight which has 10200. But if you think only in terms of the number of outs after flop of a flush draw vs a open end straight draw, then the flush draw has better odds. 9 outs vs 8 outs.

Quote from oldtime:

what I don't understand is why a flush beats a straight. Seems like it is a hell of a lot easier to hit a heart than it is a seven.
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Quote from lwlee:

Ranking hands is done by calculating the number of possibilities in 52 card deck. There are twice as many ways to get a straight than a flush. Flush has 5108 poss vs a straight which has 10200. But if you think only in terms of the number of outs after flop of a flush draw vs a open end straight draw, then the flush draw has better odds. 9 outs vs 8 outs.
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the fact that you explained that so eloquently shows that you are orders of magnitude brighter (no pun intended) than shopster
 
Quote from icarus618:

Read the indictment. The guy is a tool and was likely put in charge to serve as a buffer for the other owners in case the operation ran afoul of the law. Looks like Ferguson and Lederer are also up shit creek. The feds should go after every owner who benefited from the distributions until all customers are repaid. Gee, how could something go wrong with entrusting gamblers with hundreds of millions of dollars of other people's money. LOL
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Listen to the 6:00 mark, speaks to your comment.

http://www.youtube.com/watch?v=x-4AMoytQb0
 
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