Doug Polk, a preferred content material creator, launched his first YouTube video for the reason that Texas poker site he co-owns, The Lodge Card Membership, was raided on March 10 over an unlawful playing and cash laundering investigation, and he assured gamers with excellent poker chips they’ll receives a commission.
The heads-up poker legend stood up for his poker membership and defended the enterprise mannequin in opposition to accusations made by the Texas Alcoholic Beverage Fee (TABC). Playing is against the law in Texas, however Texas Penal Code 47.04 opens up the opportunity of internet hosting authorized poker video games as long as rake is not collected. Rooms similar to The Lodge Card Membership within the Austin space cost membership and seat charges rather than rake.
Polk, an outspoken poker professional who has been silenced by his attorneys for the reason that raid, launched a short assertion on X two weeks in the past, denying any involvement or data of cash laundering at The Lodge. However he opened up even additional in his first pod-raid YouTube video.
Here is What Polk Needed to Say
Polk, a three-time World Sequence of Poker (WSOP) bracelet winner, admitted making the video was a difficult scenario given he is a topic within the investigation. He addressed having to put off a whole lot of workers and excellent participant chips.
“Once I noticed that we had let go of the workers, I did really feel somewhat bit upset for our individuals. You already know, I acquired to actually know lots of these guys over the course of the previous few years, and these are good, hard-working individuals,” Polk stated.
The heads-up poker specialist started the 22-minute video explaining why he turned interested by buying a longtime card room 4 years in the past in Texas, a state that’s strict in opposition to playing. He defined the poker legal guidelines, most notably addressing the usually debated legislation that states “no individual receives any financial profit aside from private winnings.”
“As for financial profit, actually what that has boiled right down to is there can’t be an ecomomic profit throughout the hand itself,” Polk stated. “So, basically, 100% of the playing should go to the participant.”
The Lodge, a membership-based social membership, doesn’t gather rake out of any pots, and the income is generated by way of month-to-month membership charges that gamers pay to hitch the membership, and the hourly seat charges the gamers are charged to enter a money sport.
Polk then expressed some frustration with lots of the rooms within the state working illegally, particularly Houston the place quite a few poker golf equipment brazenly gather rake with out dealing with any prosecution from native authorities.
“What’s significantly bizarre about that is that, of all of the golf equipment within the state, I’d view us as a top-tier, possibly even probably the most stringent membership when it comes to following all obligatory procedures so as to adjust to federal, state, and native legislation,” Polk claims.
Polk then addressed the accusations authorities have made in opposition to The Lodge Card Membership, together with cash laundering and arranged crime, two crimes that appear fairly critical on the floor.
“On this scenario, I consider that what they’re saying is that, as a result of we predict that is unlawful playing, all the transactions are, thus, cash laundering. It is suspicious to have this a lot cash going right into a checking account. The Lodge has principally the very best stakes video games within the state of Texas and does quite a bit to try to shield the gamers. The Lodge gives wires for individuals to go out and in so they do not must take money,” Polk defined.
The 22-page search and seizure affidavit talked about wire transactions from gamers to The Lodge Card Membership, which the TABC deems to be probably suspicious exercise. However, as Polk defined, that’s widespread follow with high-stakes poker video games for participant security, not simply at The Lodge, however any card room.
“There’s nothing suspicious about doing that from my perspective,” Polk continued. “We are attempting to function in accordance with the legislation. Once I noticed my title subsequent to cash laundering, I used to be shocked. I did not know what to do.”
“And after excited about it, I did what anybody would do in that scenario, and I texted Ryan Feldman to e book my subsequent look on Hustler On line casino Dwell,” he joked.
Polk stated that all the monetary transactions talked about within the affidavit “are exercise of a lawful enterprise.”
The warrant additionally introduced up the legality of serving alcohol whereas internet hosting poker tournaments in Texas. However, as Polk said, The Lodge was granted a brand new liquor license in 2024 from the TABC, and different card rooms similar to Texas Card Home, a direct competitor to The Lodge, have the identical licenses and host tournaments.
The TABC’s raid included taking possession of the corporate’s monetary property. If costs aren’t filed inside 30 days of the raid — April 9 — it is seemingly the cash seized must be returned to the enterprise. Ought to that happen, The Lodge Card Membership would seemingly reopen quickly after. But when prison costs are filed earlier than that date, the cash would stay in possession of the state.
Polk then shot down theories about why the raid came about, together with a PokerNews Podcast dialogue questioning if the federal authorities is concerned. He additionally disputed any conspiracy concept about TCH, The Lodge’s high competitor in Austin, someway being concerned.
The poker site co-owner reiterated that The Lodge Card Membership is just not completely closed, and left open the likelihood for the poker membership to reopen regardless of the workers being laid off. He then addressed a priority amongst poker gamers who nonetheless have excellent chips from The Lodge.
“If The Lodge doesn’t make these individuals entire, I’ll,” Polk stated. “I am taking over seven-figures in private legal responsibility. Not as a result of I’ve to, however as a result of I wish to and I do not need anybody that is concerned with this to finish up shedding their cash.”
“I am hoping The Lodge will get to reopen with its a reimbursement and pay individuals out themselves. However solely time will inform.”
