The first Icelandic poker tournament ended in disaster when police closed it down on Saturday. Organiser Sindri Lúdvíksson is protesting that he did not realise the event was outside the law. More than 150 participants paid roughly £35 to compete for the £5,000 plus prize pool. The game began in Reykjavik in the early afternoon but police arrived after only an hour of play. Lúdvíksson managed to convince them to leave. However, at 7.30pm, when only thirty players remained, they returned with a lawyer and confiscated chips, tables and cards.
Icelandic financial law, under which Lúdvíksson could be prosecuted, states that gambling for a living is subject to a fine and twelve months in prison. Those who profit from organising such games are subject to the same penalties.
Lúdvíksson disagrees, claiming that he did not know that the event was illegal. The distinction may hang on whether or not there is a tournament buy in - a single fee, or whether there is a ‘table rake’ whereby organisers take a small percentage of the money on the table. Lúdvíksson told, Icelandic daily paper Morgunbladid, that a rake system was in operation, and drew comparisons with Bridge and Bingo, both of which are played for money frequently in Iceland. He concluded that, 'It is unfair that playing for money should only be illegal when playing poker.'