Black Friday is a term that has been used to mean many things but its origins date back to the September 24, 1969 when a couple of gold speculators attempted to unsuccessfully corner the gold market and as a result caused the stock market to collapse.
History has shown many ‘Black’ days, most with dire consequences. Black Tuesday refers to the 1929 stock market crash. Black Friday in January 1939 refers to Australia’s day of horrible and devastating fires. Black Monday in October 1987 is when the Dow Jones Industrial Average lost almost 22% in a single day marking the beginning of a global stock market decline and becoming one of the most notorious days in recent financial history.
The poker world adopted the term Black Friday on April 15, 2011 when the United States Department of Justice issued an indictment against three of the largest online poker companies PokerStars, Full Tilt and Absolute Poker and a handful of their associates alleging that the defendants violated the Unlawful Internet Gambling Enforcement Act (UIEGA) and engaged in bank fraud and money laundering in order to process transfers to and from their customers in the United States.
This event and series of events to follow have left permanent marks, or even stains to use a stronger word, in the world of online poker. Although now, almost 19 months later there appears to be some light at the end of the tunnel as far as poker players getting their lost funds returned from two of the three sites, the ordeal is far from being over as we have continued to follow in news articles.
To end on a positive note, yesterday was American Thanksgiving and as tradition follows, Black Friday is the busiest shopping day in America with retailers dropping their prices and offering some ridiculous deals to consumers. Many stores traditionally open at midnight and remain open through the night into Friday morning, giving the term Black Friday. Many Canadians have picked up on this phenomenon and learned to take advantage of the sales by flocking over the border to begin their Christmas shopping.
Stay tuned for our top Christmas shopping picks for poker players coming soon on CanadaPoker.com