Howard Lederer
Encyclopedia
Howard Henry Lederer is an American professional poker
player and brother of poker professional Annie Duke
, and author and poet Katy Lederer
. On September 20, 2011, the U.S. Justice Department
filed a motion to amend a civil complaint, alleging that Lederer and three other directors of the poker website Full Tilt Poker
were running a Ponzi scheme
that paid out $444 million of customer money to themselves and the firm's owners.
. His father is Richard Lederer
, a writer and linguist who taught at St. Paul's School in New Hampshire. Lederer was a young chess
talent and after high school he moved to New York City
, where he attended Columbia University
. New York City is known for its chess clubs, notably the Marshall Chess Club
and Manhattan Chess Club
where he played, and at one of these clubs he discovered poker and eventually began playing at the Mayfair Club
with other now well-known poker players such as Erik Seidel
and Dan Harrington
.
In 1994, he moved to Las Vegas
, Nevada
where he sought out high stakes poker games.
and Learn from the Pros
for the Fox Broadcasting Company
. His sister, Katy Lederer
, wrote a book about the Lederer family, Poker Face: A Girlhood Among Gamblers.
Lederer is one of the founders, co-owners and CEOs of "Tiltware Inc", the owners and creators of Full Tilt Poker
, along with Ray Bitar. Since the passage of the Unlawful Internet Gambling Enforcement Act of 2006
, Tiltware renamed itself to "Pocket Kings" and relocated to Ireland.
He has won two World Series of Poker
bracelets and two World Poker Tour titles. In 2008, he won A$
1.25 million by winning the $100,000 No Limit Holdem Challenge, billed as the world's most expensive tournament buy-in, at the Aussie Millions
.
As of 2010, his total live tournament winnings exceed $5,900,000. His 43 cashes at the WSOP account for $1,541,474 of those winnings.
and two other directors of the poker website Full Tilt Poker
were running a Ponzi scheme
that paid out $444 million of customer money to themselves and the firm's owners. The government is seeking a return of $42 million that Lederer allegedly took from Full Tilt's customers. The Department of Justice on September 19, 2011, issued a warrant in rem
for the seizure of certain banks' accounts owned by Lederer as part of the DOJ's continued actions against Full Tilt.
from fellow poker player David Grey
by eating a cheeseburger
. Obese for much of his life, Lederer eventually had gastric bypass surgery
to lose weight. One of his nicknames (given to him by his sister Annie Duke
) was "Bubba", which was shortened to "Bub" after Lederer lost the weight. Lederer also credits running and playing basketball as two activities he uses to keep in shape.
Lederer and his wife, Suzie, are active philanthropists in the poker community. In 2009, they hosted their first annual April Fool’s fundraiser tournament at the Hard Rock Hotel and Casino. The event raised money for the Las Vegas Springs Preserve
. Then, in July, the Lederers hosted another charity poker tournament alongside their seventh-annual World Series of Barbecue (a popular Las Vegas social event). The event raised money for the Boys and Girls Club of Las Vegas and the first place prize included a seat on NBC’s television program Poker After Dark
.
Poker
Poker is a family of card games that share betting rules and usually hand rankings. Poker games differ in how the cards are dealt, how hands may be formed, whether the high or low hand wins the pot in a showdown , limits on bet sizes, and how many rounds of betting are allowed.In most modern poker...
player and brother of poker professional Annie Duke
Annie Duke
Annie Duke is a professional poker player and author who won a bracelet in the 2004 World Series of Poker $2,000 Omaha Hi-Low Split-8 or Better Event and was the winner of the 2004 World Series of Poker Tournament of Champions, where she earned the Winner-Take-All prize of $2,000,000...
, and author and poet Katy Lederer
Katy Lederer
Katherine "Katy" Lederer is an American poet and author of the memoir Poker Face: A Girlhood Among Gamblers.Lederer is the daughter of bestselling non-fiction author Richard Lederer and the sister of world-class poker players Howard Lederer and Annie Duke. She graduated from St...
. On September 20, 2011, the U.S. Justice Department
United States Department of Justice
The United States Department of Justice , is the United States federal executive department responsible for the enforcement of the law and administration of justice, equivalent to the justice or interior ministries of other countries.The Department is led by the Attorney General, who is nominated...
filed a motion to amend a civil complaint, alleging that Lederer and three other directors of the poker website Full Tilt Poker
Full Tilt Poker
Full Tilt Poker is an online poker card room that opened in June 2004 with the involvement of poker professionals Howard Lederer, Phil Ivey, Andy Bloch, Mike Matusow, Jennifer Harman and Chris Ferguson...
were running a Ponzi scheme
Ponzi scheme
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation...
that paid out $444 million of customer money to themselves and the firm's owners.
Early life
Lederer was born on October 30, 1963 in Concord, New HampshireConcord, New Hampshire
The city of Concord is the capital of the state of New Hampshire in the United States. It is also the county seat of Merrimack County. As of the 2010 census, its population was 42,695....
. His father is Richard Lederer
Richard Lederer
Richard Lederer is an American author, speaker, and teacher best known for his books on word play and the English language and his use of oxymorons...
, a writer and linguist who taught at St. Paul's School in New Hampshire. Lederer was a young chess
Chess
Chess is a two-player board game played on a chessboard, a square-checkered board with 64 squares arranged in an eight-by-eight grid. It is one of the world's most popular games, played by millions of people worldwide at home, in clubs, online, by correspondence, and in tournaments.Each player...
talent and after high school he moved to New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, where he attended Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
. New York City is known for its chess clubs, notably the Marshall Chess Club
Marshall Chess Club
The Marshall Chess Club in New York City is one of the oldest chess clubs in the United States, located in Greenwich Village. The club was formed in 1915 by a group of players led by Frank Marshall. It is a non-profit organization.-History:...
and Manhattan Chess Club
Manhattan Chess Club
The Manhattan Chess Club in Manhattan was the second-oldest chess club in the United States . The club was founded in 1877 and started with three dozen players; membership later reached into the hundreds before the club ended its existence in 2002...
where he played, and at one of these clubs he discovered poker and eventually began playing at the Mayfair Club
Mayfair Club
The Mayfair Club was a cardroom in New York. Originally starting as a bridge and backgammon club, it eventually became "the most touted card club in New York" until its abrupt closing by authorities in 2000." Unlike the other gamehalls in the city, The Mayfair Club kept a low profile in a basement...
with other now well-known poker players such as Erik Seidel
Erik Seidel
Erik Seidel is an American professional poker player from Las Vegas, Nevada who has won eight World Series of Poker bracelets and a World Poker Tour title.In 2010, he was inducted as a member of the Poker Hall of Fame.-Early life:...
and Dan Harrington
Dan Harrington
Dan Harrington is a professional poker player, best known for winning the main event world championship at the 1995 World Series of Poker. He has earned one World Poker Tour title, two WSOP bracelets, and over six million dollars in tournament cashes in his poker career...
.
In 1994, he moved to Las Vegas
Las Vegas metropolitan area
The Las Vegas Valley is the heart of the Las Vegas-Paradise, NV MSA also known as the Las Vegas–Paradise–Henderson MSA which includes all of Clark County, Nevada, and is a metropolitan area in the southern part of the U.S. state of Nevada. The Valley is defined by the Las Vegas Valley landform, a ...
, Nevada
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
where he sought out high stakes poker games.
Career
Lederer is known as "the Poker Professor" because of his demeanor, analytical style and long history of wins. He has made an instructional poker video called Secrets of No Limit Hold'em and he runs the Howard Lederer Poker Fantasy Camp. He also co-hosts Poker SuperstarsPoker Superstars Invitational Tournament
The Poker Superstars Invitational Tournament is a series of no limit Texas hold 'em poker tournaments. The first season is available on NTSC DVD. It airs on Fox Sports Net in the United States, Rogers Sportsnet in Canada and ftn in the United Kingdom.-Crew:...
and Learn from the Pros
Learn from the Pros
Learn from the Pros was a television program sponsored by the online poker website Full Tilt Poker, which aired on Fox Sports Net a number of times during each week. It was hosted by Chris Rose....
for the Fox Broadcasting Company
Fox Broadcasting Company
Fox Broadcasting Company, commonly referred to as Fox Network or simply Fox , is an American commercial broadcasting television network owned by Fox Entertainment Group, part of Rupert Murdoch's News Corporation. Launched on October 9, 1986, Fox was the highest-rated broadcast network in the...
. His sister, Katy Lederer
Katy Lederer
Katherine "Katy" Lederer is an American poet and author of the memoir Poker Face: A Girlhood Among Gamblers.Lederer is the daughter of bestselling non-fiction author Richard Lederer and the sister of world-class poker players Howard Lederer and Annie Duke. She graduated from St...
, wrote a book about the Lederer family, Poker Face: A Girlhood Among Gamblers.
Lederer is one of the founders, co-owners and CEOs of "Tiltware Inc", the owners and creators of Full Tilt Poker
Full Tilt Poker
Full Tilt Poker is an online poker card room that opened in June 2004 with the involvement of poker professionals Howard Lederer, Phil Ivey, Andy Bloch, Mike Matusow, Jennifer Harman and Chris Ferguson...
, along with Ray Bitar. Since the passage of the Unlawful Internet Gambling Enforcement Act of 2006
Unlawful Internet Gambling Enforcement Act of 2006
The Unlawful Internet Gambling Enforcement Act of 2006 is United States legislation regulating online gambling. It was added as Title VIII to the SAFE Port Act which otherwise regulated port security...
, Tiltware renamed itself to "Pocket Kings" and relocated to Ireland.
He has won two World Series of Poker
World Series of Poker
The World Series of Poker is a world-renowned series of poker tournaments held annually in Las Vegas and, since 2005, sponsored by Harrah's Entertainment...
bracelets and two World Poker Tour titles. In 2008, he won A$
Australian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
1.25 million by winning the $100,000 No Limit Holdem Challenge, billed as the world's most expensive tournament buy-in, at the Aussie Millions
Crown Australian Poker Championship
The Australian Poker Championship, commonly known as Aussie Millions, is a series of poker tournaments held at the Crown Casino, in Melbourne, Australia...
.
As of 2010, his total live tournament winnings exceed $5,900,000. His 43 cashes at the WSOP account for $1,541,474 of those winnings.
WSOP Bracelets
| Year | Tournament | Prize (US$) |
|---|---|---|
| 2000 2000 World Series of Poker -Preliminary events:-Main Event:There were 512 entrants to the main event. Each paid $10,000 to enter the tournament.Ferguson had a 10 to 1 chip lead when starting his heads-up vs Cloutier. After a see-saw battle, Ferguson decided to call Cloutier's AQ all-in with his own A9... |
$5,000 Limit Omaha Hi-Lo | $198,000 |
| 2001 2001 World Series of Poker -Preliminary events:-Main Event:There were 613 entrants to the main event. Each paid $10,000 to enter what was the largest poker tournament ever played in a non-online casino at the time.-Final table:-Other High Finishes:... |
$5,000 Deuce to Seven Draw | $165,870 |
Full Tilt Poker Scandal
On September 20, 2011, the U.S. Justice Department filed a motion to amend a civil complaint, alleging that Lederer, Chris FergusonChris Ferguson
Christopher Philip Ferguson is an American professional poker player. He has won five World Series of Poker events, including the 2000 WSOP Main Event, and the 2008 NBC National Heads-Up Poker Championship. On September 20, 2011, the U.S...
and two other directors of the poker website Full Tilt Poker
Full Tilt Poker
Full Tilt Poker is an online poker card room that opened in June 2004 with the involvement of poker professionals Howard Lederer, Phil Ivey, Andy Bloch, Mike Matusow, Jennifer Harman and Chris Ferguson...
were running a Ponzi scheme
Ponzi scheme
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation...
that paid out $444 million of customer money to themselves and the firm's owners. The government is seeking a return of $42 million that Lederer allegedly took from Full Tilt's customers. The Department of Justice on September 19, 2011, issued a warrant in rem
In rem
In rem is Latin for "against a thing." In a lawsuit, an action in rem is directed towards a piece of property rather than against a person . The action disputes or seeks to transfer title to property. When title to real estate In rem is Latin for "against a thing." In a lawsuit, an action in rem...
for the seizure of certain banks' accounts owned by Lederer as part of the DOJ's continued actions against Full Tilt.
Personal life
Although he is a Semi-vegetarian, Lederer once won a $10,000 proposition betProposition bet
In gambling, the term "proposition bet" has two definitions.-Primary definition:...
from fellow poker player David Grey
David Grey
David F. Grey is an American professional poker player from Henderson, Nevada.Grey is best known as a cash-game player, but he also has several notable poker tournament wins to his name....
by eating a cheeseburger
Cheeseburger
A cheeseburger is a hamburger with cheese that has been added to it. Traditionally, the cheese is placed on top of the patty, but the burger can include many variations in structure, ingredients, and composition...
. Obese for much of his life, Lederer eventually had gastric bypass surgery
Gastric bypass surgery
Gastric bypass procedures are any of a group of similar operations that first divides the stomach into a small upper pouch and a much larger lower "remnant" pouch and then re-arranges the small intestine to allow both pouches to stay connected to it. Surgeons have developed several different ways...
to lose weight. One of his nicknames (given to him by his sister Annie Duke
Annie Duke
Annie Duke is a professional poker player and author who won a bracelet in the 2004 World Series of Poker $2,000 Omaha Hi-Low Split-8 or Better Event and was the winner of the 2004 World Series of Poker Tournament of Champions, where she earned the Winner-Take-All prize of $2,000,000...
) was "Bubba", which was shortened to "Bub" after Lederer lost the weight. Lederer also credits running and playing basketball as two activities he uses to keep in shape.
Lederer and his wife, Suzie, are active philanthropists in the poker community. In 2009, they hosted their first annual April Fool’s fundraiser tournament at the Hard Rock Hotel and Casino. The event raised money for the Las Vegas Springs Preserve
Las Vegas Springs Preserve
Las Vegas Springs Preserve consists of dedicated to nature walks and displays and is owned and operated by the Las Vegas Valley Water District. The Preserve is located approximately three miles west of downtown Las Vegas, Nevada...
. Then, in July, the Lederers hosted another charity poker tournament alongside their seventh-annual World Series of Barbecue (a popular Las Vegas social event). The event raised money for the Boys and Girls Club of Las Vegas and the first place prize included a seat on NBC’s television program Poker After Dark
Poker After Dark
Poker After Dark was an hour-long poker television program on NBC. The show made its debut on January 1, 2007, and was cancelled as another victim of the "Black Friday" criminal case due to the show's sponsorship by Full Tilt Poker, one of that case's defendants. on September 23, 2011 For its first...
.