Those following the news and developments with regard to mango live, the FTSE 100 online gambling business would know that it had issued a warning about waning profits and a possible slump in the business. Much speculation was raised whether internet poker phenomenon was collapsing as quickly as it had grown. The fact is that is is not! Sportingbet has given the reassurance that it did not need to spend a hefty sum on marketing, seeking business in a slowing down market. It has successfully managed to keep the “average cost of acquisition” to $132 for a new customer. Compare this against $200 that the market leader is spending. Besides Sportingbet has also been able to sell poker to users of its other casino games and its core sports betting business. It has come up with a novel “shared purse” that makes it easier for players to put bets across all Sportingbet gambling opportunities. Poker players and poker sites both can now heave a sigh of relief – A slump or a slowdown is definitely not happening!
It will take time to establish exactly what is going on in the online poker market, and it is likely that growth will become more measured, but gambling is as old as money and it seems likely that more than the current 3 per cent of wagers will eventually be made online. The lesson should be that robust, established and flexible companies with a broad range of gambling offerings and a spread of geographical markets are going to be the least volatile investments for those wanting to speculate on this emerging phenomenon.
Webber King – Winner of the Festal al Lago Poker Tournament
The Bellagio Resort in Las Vegas, held the Festa al Lago Poker Tournament. It handed out quite a sum of money to the players in Wednesday’s final table for event #4. There were 175 entrants at the start of the event. It began with a $2,500+$100 buy-in No-limit Hold’em. Included in the final table nine was pro David Levy, who was short stacked at $38,000. Another Pro who was a local was Alan Goehring. He held second spot with $174,000. Webber Kang from Dallas, brought to the table, the chip lead, with $201,000 with respect to play money.
The rapidly rising Liz Liu was the only female to make this table. Damon Ramierz was the short stack with $6,000 and he was the first eliminated, going out in ninth, to collect $6,380 for the short day’s work.
Concern For the Increase in the Number of Youth Playing Online Poker
In the recent past there has been a sharp increase in the number of young poker players. Not only that, today a number of young poker players need help with gambling addiction. An American study recently stated that the number of college and high school students playing poker has nearly doubled last year. As per latest reports, more young people gamble once in a week at least. The numbers are higher when compared to the total number of young people that drink . Smoking and taking drugs are also habits that trail behind the single most driving force that is gambling. This is a cause for major concern among parents and guardians. Poker critics definitely have actual facts and figures now to attack the growing poker community with.
Dan Romer, who runs the Annesberg Adolescent Risk Communication Center at the University of Pennsylvania, expressed his concern: “Poker playing seems to have grown to the point where now you’ve got about 20% of young males, who are either high school or in college playing poker with their friends on a weekly basis.