Net poker a busted flush - Sportingbet

[clevfan]

Net poker a busted flush - Sportingbet

Robert Lea, Evening Standard
11 December 2007, 2:08pm

The internet poker boom has ended, the boss of ParadisePoker one of the world's largest cybergambling houses, admitted today.

'There had been a lot of hype in internet poker and that has now come off a bit,' said Andy McIver, chief executive of online bookmaker Sportingbet, which operates ParadisePoker.
Sportingbet and ParadisePoker were last year forced out of the US by a draconian clampdown on online gambling - leading to a £240m writedown in the value of the business and sending the shares down 90%.

Sportingbet today said that in the three months to end-October its poker rake - the amount of money it makes in commission from winning poker hands - nearly halved to £4.6m.

'That is as a result of significantly reduced liquidity following the loss of US resident players,' it said.

Sportingbet reported losses slimmed down to £1.4m from £11.5m a year ago, and said it plans to concentrate on getting Europeans to bet on sports. Poker and other online casino games now account for only 40% of Sportingbet's business, with up to another 40% being spent punting on European football.

European sports betting and underlying operating profits in the quarter were both up by about 15%, to £170m and £15m respectively.

Sportingbet's focus on European punters, many of them based in Spain, Italy, Greece and Turkey, makes it different from many traditional UK bookies, whose home banker is horseracing.

[StarnetGypsy]

the boom has ended for them because they're a public company and cannot take US players.

if UIGEA is repealed, them and Party will immediately pounce on the US and Andy will say the 'boom' is seeing a 'resurgence'

[Crony]

112k players online right now at poker stars.
I think they have grown quite a bit.

[MRW2276]

yeah crony, but how many are house players ect?

[robin]

Originally Posted by MRW2276

yeah crony, but how many are house players ect?

stars doesnt use house players at least not public aknowledged props or shills.

that said no doubt its rigged.....so who knows as to how many HOUSE players they truly have.

[StarnetGypsy]

Originally Posted by MRW2276

yeah crony, but how many are house players ect?

lol Mark .. "112k players online right now"

not enuff to make a dent in that number there my fren

[robin]

Originally Posted by Crony

112k players online right now at poker stars.
I think they have grown quite a bit.

at least 8/10 are play money players. numbers are very distorted

[MRW2276]

All it takes is one star look at absolute poker;-) What he pull in 11 million?

[robin]

Originally Posted by MRW2276

All it takes is one star look at absolute poker;-) What he pull in 11 million?

dont fool yourself into thinking the same thing isnt going on at ever site at i type this.

internet poker is a scam of epic proportions.

every site is rigged b/c they simplyhave to be.

ap poker was just so gd dumb they got caught. with an iq over 40 thye never ever would have gotten caught.

[StarnetGypsy]

Originally Posted by MRW2276

All it takes is one star look at absolute poker;-) What he pull in 11 million?

what i heard outta Cr was $7m, but yeah i see your point.

Robin's point is well-taken too. there's more Play-for-fun players than you can shake a stick at and they're not converting these guys to real-money because of the hassles depositing.

also gotta agree w/Robin on AP bosses having room temperature IQ's for getting caught. it still amazes me anyone could be so incompetent ...

i still think it will go back up like a hot-air balloon if UIGEA is ever repealed and people can easily play for real-money again w/o jumping thru all the hoops ...

[robin]

Originally Posted by StarnetGypsy

what i heard outta Cr was $7m, but yeah i see your point.

Robin's point is well-taken too. there's more Play-for-fun players than you can shake a stick at and they're not converting these guys to real-money because of the hassles depositing.

also gotta agree w/Robin on AP bosses having room temperature IQ's for getting caught. it still amazes me anyone could be so incompetent ...

i still think it will go back up like a hot-air balloon if UIGEA is ever repealed and people can easily play for real-money again w/o jumping thru all the hoops ...

star the last point u make is very true, and i agree 100 percent.i just hope by then we are playing on regulated usa sites rather than 100 percent rigged third world sites.

[mikeymike]

Pokerstars sent me an email offering a 50% echeck bonus. I was going to deposit but you have to give them your SS #. I just think thats a bad idea to give that up. Am I right? Also want to sign up with moneygram and they want your SS # as well. What the fuck?