Greg Pierson Poker Player

Background

Greg Pierson is a poker enthusiast known for his software scandals. He co-founded ieLogic and Iovation, which were crucial in developing Ultimate Bet (UB), a poker platform.

Biography

Pierson was born and raised in Oregon in 1976. He received his bachelor’s degree in economics and business administration from Oregon State University. Before starting his professional career, he was a global retail practice manager and business process architect at Accenture. His passion for technology thrived, prompting him to co-found ieLogic with Jon Karl.

Greg Pierson Poker Career

Greg Person's first win came in the 2007 WSOP when he played $5,000 No Limit Holdem—Six-Handed. He placed 24th and won $21,898. A year later, he finished 44th in the $5,000 No Limit Holdem and won $12,107.

In the 2010 WSOP, he finished 23rd in the $1,000 No Limit Holdem and won $2,854. His total poker earnings are $36,859. However, his net worth is defined based on his company's performance.

Greg Pierson Poker Scandal

Greg Pierson co-founded ieLogic to create software for online gaming. The company split into two other companies, Iovation, which specialises in fraud detection and cybersecurity and Excapsa, which became Ultimate Bet (UB. UB was a poker site launched in 2001 and got popular quite early, offering games like Texas Holdem. In 2003, UB joined hands with Absolute Poker, and together, they formed Cereus Poker Network.

2007-2008, players started accusing Ultimate Bet and Absolute Poker of cheating. They said they were losing too much money to some players. Investigation revealed that a superuser allowed insiders to see their opponent's cards. Russ Hamilton was the main culprit; he stole $22 million from players. After an investigation, the regulatory body fined the site $1.5 million and asked them to replay the players.

Although Pierson was not directly tied to this fraud, the scandal heavily impacted his reputation. However, in 2016, Iovation shifted to cybersecurity and fraud prevention. It earned a Nevada license, which allow it to operate in a regulated market.

Greg Pierson's Net Worth

Greg Pierson's total recorded earning is $23,275.

Frequently Asked Questions

How many bracelets Greg Pierson has won?

Greg Pierson has won zero bracelets.

What was Greg Pierson's role in Ultimate Bet?

Pierson helped launch Ultimate Bet. He gave technological support, including fraud detection and risk management.