BY TOM SOMACH

What a difference a continent makes!

The World Series of Poker (WSOP), which recently concluded its 55-event signature tournament in Las Vegas, wanted no part of online poker at that affair.

Although Internet poker rooms had sponsored the WSOP in the past, they were no longer allowed to do so by the WSOP, starting this year, because the U.S. government last fall had passed anti-online gambling legislation.

But now the WSOP has a new kid sister–the World Series of Poker Europe or WSOPE–and what was good (online poker) and then bad is now good again.

The inaugural WSOPE tournament is to be held next month in London, England. and will consist of three events, including a main event featuring Texas hold ‘em.

Winners of each of the three events are to receive gold bracelets, as in the regular WSOP, and WSOPE wins are to be regarded on par with WSOP wins.

In fact, the rules, regulations and etiquette of the WSOPE will generally be identical to those of the WSOP, with one exception–the WSOPE is allowing online poker rooms as sponsors.

Since there are no anti-online gambling laws in England, as there now are in the U.S., the folks that run the WSOP/WSOPE have decided that Internet poker rooms will be allowed to sponsor the WSOPE, even though they will continue to be banned from the U.S.-based WSOP.

It was recently announced that Betfair, a British company that offers online gambling, including online poker and online sports betting, will be a major sponsor of the first WSOPE.

In fact, a five-year agreement was signed between Betfair and Harrah’s Entertainment, parent company of the WSOP and WSOPE, for Betfair to sponsor the WSOPE through the year 2011.

“Our alliance with Betfair will launch and build the World Series of Poker Europe with prestige and authenticity,” said WSOP commissioner Jeffrey Pollack. “This will likely become the most important poker tournament outside of Las Vegas.”

“This is an historic deal for us,” said Betfair CEO David Yu.

He added that sponsoring “the WSOP, with its 38-year tradition, on its first venture into Europe, is a great honor.”

So on one hand, according to the WSOP, online poker rooms are pariahs, unfit for WSOP sponsorship in the U.S.

On the other hand, however, they’re fine as WSOPE sponsors in England.

Is this hypocrisy on the part of the WSOP, or just good business?

We’ll leave that to you to decide.

(E-mail Tom Somach at tomsomach@yahoo.com.)