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Gaming
Poker pros proliferating
By Liz Benston / Staff Writer

The winner of this year's World Series of Poker tournament will likely be walking away with more than the $7.5 million top prize.

That is, if Brian Balsbaugh has anything to do with it.

Balsbaugh first visited Las Vegas in 1993 when he helped organize an event for the American Junior Golf Association. He later graduated from law school and represented professional golfers on the PGA and LPGA circuit for the next five years.

He left the golf world in 2003 and hasn't looked back.

That was the year Chris Moneymaker won the World Series of Poker after parlaying a $40 buy-in online to win a seat at the tournament. Regular folks flocked to Internet poker rooms and poker rooms -- online and land-based -- haven't been the same since.

Balsbaugh now owns a marketing and talent agency for poker players in Las Vegas called Poker Royalty.

"I never dreamed that I'd be owning a business and living here," he said.

Think of any of the poker "celebrities" who are ubiquitous on televised tournaments and poker shows as well as on online poker sites, blogs and other cyberspace venues and it's a good bet that Balsbaugh represents them.

His clients include 15 of the estimated 30 or so players who have shot to poker fame in recent years through regular television and Internet exposure.

"I was fortunate enough to get in very early," Balsbaugh said.

Even in the light-speed world of casino marketing, three years doesn't seem like a long time ago. Yet for the several dozen players now making at least six figures per year outside of their poker winnings, the world is entirely different.

That poker players now have agents probably isn't surprising given that major companies are paying big bucks to hire poker pros to entertain clients or speak at corporate events.

Bank of America, Goldman Sachs, Netflix, Honeywell, Yahoo and Microsoft are among the heavyweights paying speaker fees of $5,000 to as much as $40,000 or more, Balsbaugh said.

The real money is being made in sponsorships from Internet poker sites.

This year's winner could secure an Internet casino contract worth anywhere from $1 million to $5 million, he said. Like other deals in the sporting world, the money will likely depend on how marketable (read: young, hip and attractive) the winner is.

While much has been made of major companies sponsoring poker tournaments, it will likely be several years before mainstream brands can come close to matching the millions of dollars top players are getting from online poker sites, he said. In addition, few companies outside of poker sites are paying players to wear logos or clothing.

Big companies appear to be taking their time to feel out players. They typically start with speaking engagements and graduate to sponsorship deals, he said.

Similarly, golf pros are paid to endorse major consumer brands but still strike some of their biggest deals with golf club makers, Balsbaugh said.

Online casino deals are nothing to sneeze at.

"Even though poker could get extremely popular, players' biggest deals will probably be with poker-related companies," he said. "They can pay a lot more money, they devote marketing dollars to that and are set up for that."

High-end advertisers are trickling into the poker world with print ads in poker magazines including Card Player, All In, Bluff and Player. While the ads for watches, cigars and booze are interesting, they are far outnumbered by ads for online casinos as well as Las Vegas casinos.

Internet poker rooms such as PartyPoker.com also are running television and radio ads in selected markets nationwide.

Besides deals with players, several more companies got on board as tournament sponsors this year. Degree deodorant sponsored poker circuits at Harrah's casinos in the weeks leading up to the tournament. Coca-Cola, Jim Beam and FHM magazine sponsored a party associated with the tournament and Miller Brewing Co. is an official sponsor of the game itself. Other companies, including Toyota, made sponsorship deals with ESPN, which is producing the event for television.

Jeff Shulman, publisher of Card Player magazine in Las Vegas and a competitor in this year's World Series of Poker, believes the day will come when televised poker tournaments will "look like NASCAR" and players will be covered with brands wanting a piece of green felt action.

Shulman estimates that about 30 players have endorsement deals out of a top talent pool of up to 100 people. Tournament winners aren't necessarily the best at poker but make for better spokespeople because they've been on television, he said.

"The sponsorships are all based on television exposure," Shulman said. "It's about being at the right place at the right time," he said. "Everyone has a shot. That's the beautiful thing about poker."

Liz Benston covers gaming for In Business Las Vegas and its sister publication, the Las Vegas Sun. She can be reached at (702) 259-4077 or by e-mail at benston@lasvegassun.com.

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