A weekend game of Texas Hold 'em (poker) is a familiar scene for the college set. But Chad Flood and his friends aren't only playing for fun, they're practicing to win tournaments.
When Flood said, "I think I'm one of the better players,” he wasn’t bluffing. He's so good that last year he won $41,000 in an online tournament. But it wasn't cash for just anything, it was cash for class.
"I was just kind of shocked. It took a while for it to actually set in," he said.
Chad cashed-in playing the college poker championship, one of several scholarship tournaments run by gambling Web sites.
Students don't wager real money, but the winnings are real. With $200,000 on the line this year, Chad and his buddies are practicing again.
Lou Krieger hosts the college poker championship.
He said, "This year, so far, there have been over 33,000 students who have enrolled and have played."
Krieger has written several books on poker. He said poker is a virtual craze and the tournaments are a way for gaming sites to give back.
He said, "It's poker on training wheels. There's no risk at all. They can have a lot of fun. They can win some money."
Since students aren't asked to pony up cash, Krieger said it's more like a game show than gaming.
However, Keith Whyte, Director of the National Council on Problem Gambling' disagrees.
"These tournaments are certainly gambling. Even if it doesn't meet the legal technical definition, you're playing a gambling activity. And that can lead to preoccupation, can lead to loss of control. It's encouraging kids to think about gambling as an occupation or investment rather than as just entertainment," he said.
But Krieger said most young people can play without getting addicted. He insists the game can teach valuable lessons for life.
"Emotional control, strategic planning, tactical maneuvers--all of this stuff is so relevant to the way we lead our lives," he said.
Chad said he's not addicted, he's just having fun. More fun than ever, now that his college tuition is covered.
He says it's all about finding balance...and playing your cards right. "You can be successful in poker as in life just by making good decisions."
The sponsors of these scholarship tournaments say they are legal since no money is wagered and that's part of the broad definition of gambling.
The Justice Department would not comment on the tournaments. The Federal Trade Commission has declared it a matter for states to decide.
source : 13wham.com
