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Party Poker IPO...
- Thread starter trade-ya1
- Start date
Quote from The Kin:
Although this company makes shitloads of profit. It's illegal in the United States. If someone were to deposit $10,000 on PartyPoker then lose it all. since it is illegal to begin with, the person will get a full refund from VISA if they hire the right lawyer.
It is not "illegal" since it's the internet. PP is "self-regulated" which they can technically do whatever they want. But shady poker sites dont last long and PP is the biggest one with the best rep. US credit cards won't accept gaming transactions because they do not want to deal with the chargebacks issues as the sore losers and the valid cases of cheat/fraud will pile on en masse. However, they are missing out on a lot of transaction fees and eventually they will wake up. The IPO might be that wake up call.
Right now Party Poker is the biggest online poker site. It hasn't always been this way, and I doubt it will be for much longer. I used to play there quite often and I even won enough to cover my expenses of getting back into skiing/snowboarding. Then I signed on not too long ago. Wow, has it changed. The games are much tighter. Players used to go there 'because that's where the fish are.' But I read a lot online about poker and the talk about 'soft' Party Poker players has gone way down the past 6-8 months. My thinking is either those players have gotten better, or, more likely, they're playing at FullTilt.com and Pokerstars.com.
Party Poker probably has the worst software in terms of appearance. There's always the same 'characters' who look kind of like expensive blowup dolls (if there is such a thing). The color is an eye-stinging orange, and all the 'rooms' look the same.
I have no doubt that people will jump on this IPO, but it's legs might not be as strong as you think.
Party Poker probably has the worst software in terms of appearance. There's always the same 'characters' who look kind of like expensive blowup dolls (if there is such a thing). The color is an eye-stinging orange, and all the 'rooms' look the same.
I have no doubt that people will jump on this IPO, but it's legs might not be as strong as you think.
i believe the concept is viewership. it could be anything, friendster.com, whatever.. as long as people go there. maybe that is worth 10 billion in people's eyes.
Quote from TGregg:
Be even harder for them to catch a conference call. There's no way they can catch all the cheaters, unless they start busting people because they "won too much". They could try to catch repeat groups, but that would be an easy obstacle to overcome.
Quote from nostic:
Right now Party Poker is the biggest online poker site. It hasn't always been this way, and I doubt it will be for much longer. I used to play there quite often and I even won enough to cover my expenses of getting back into skiing/snowboarding. Then I signed on not too long ago. Wow, has it changed. The games are much tighter. Players used to go there 'because that's where the fish are.' But I read a lot online about poker and the talk about 'soft' Party Poker players has gone way down the past 6-8 months. My thinking is either those players have gotten better, or, more likely, they're playing at FullTilt.com and Pokerstars.com.
Party Poker probably has the worst software in terms of appearance. There's always the same 'characters' who look kind of like expensive blowup dolls (if there is such a thing). The color is an eye-stinging orange, and all the 'rooms' look the same.
I have no doubt that people will jump on this IPO, but it's legs might not be as strong as you think.
Very accurate post, except the part about the IPO doing well.
Too many people deal with this company daily, and know how badly it is run. Party is still rated #1 on pokerpulse.com...but ask Planet & Pair a dice how fast that can change.
The following is a REAL conversation with Party support, posted on twoplustwo.com :
Lobby - Service Person: Hazel
Hazel: Hello, how may I assist you?
Spike_tt: An email said I would be automatically taken to my table for the
PPM warm-up... this hasn't happened...
Spike_tt: It also said there would be a button labelled "Take me to my PPM
table". There isn't...
Hazel: That's because you will be taken there after 7
Hazel: Yes, all of this will load after 7
Hazel: EST
Spike_tt: Maybe I have a time difference problem then! What time is it
now?
Hazel: It's 7
Hazel:
Hazel: Is there anything else you'd like to ask me?
Spike_tt: What time is it now EST?
Hazel: It's 7
Hazel: EST
Spike_tt: I don't understand... it's 12.20 here in the UK... but it's 7
there? Not 7.20? or 6.20?
Hazel: It's 7
Spike_tt: So... the seating takles place at 7... and it';s 7 *now* you say?
So the seating will start now?
Hazel: It will start at 7
Hazel: That will be in 10 minutes
Spike_tt: And what time is it now?
Hazel: It's 7
Hazel: Now it's 7
Spike_tt: Okay... I'm very confused... it's 7 *now*... but it'll be 7 in ten
minutes... never mind... I'll wait to see what happens.
Hazel: Just wait 5 more minutes
Spike_tt: Okay.
Hazel: In 5 minutes, it will be 7
Spike_tt: So... now it's 6.55?
Hazel: NO
Hazel: Sorry
Hazel: It is 7
Hazel: Where are you getting 6
Spike_tt: You said in 5 minutes it would be 7... and you're saying *now* it
is 7.
Hazel: No
Hazel: In 5 minutes, it will be 7
Spike_tt: So what time is it *now*?
Hazel: I keep saying that it's 7
Spike_tt: Never mind... I'll wait.
Hazel: Ok
Hazel: Thanks
Hazel: Just wait 5 minutes
Spike_tt: Yes... I'll wait until 7.
Hazel: Just 5 more minutes
Spike_tt: Thankyou.
Hazel: You're welcome
Hazel: Have fun!
Spike_tt: I am already!
Hazel: Great!
Hazel:
____________
(Party no longer offers 'live chat' help though, so you'd have to wait on the phone and be transferred around to different departments for hours to get this kind of assistance from them.)
the games are still by FAR the softest on the net. if you want multi table tournaments, play pokerstars. any cash games shouldn't be played anywhere but party poker. where to play sit n goes is debatable. the format on pokerstars is better, but the play is better too. i'd stick with party for the sit n goes as well. the sit n goes don't start getting even remotely tough until $100 buy ins.
currently, at the 30-60 limit. there are 3 tables on pokerstars with 6 or more people. on party poker, there are 24. end of story.
in terms of pp as an investment. it seems like party poker isn't growing much anymore and has peaked at 60k players for several months (i've been playing since there were 7-8k peak).
http://www.pokerpulse.com/
currently, at the 30-60 limit. there are 3 tables on pokerstars with 6 or more people. on party poker, there are 24. end of story.
in terms of pp as an investment. it seems like party poker isn't growing much anymore and has peaked at 60k players for several months (i've been playing since there were 7-8k peak).
http://www.pokerpulse.com/
My post here 1 1/2 years ago:
http://www.elitetrader.com/vb/showthread.php?s=&postid=403324
It dried up even quicker than I thought. The shark/fish ratio has deteriorated to the point where I haven't even opened the software in weeks.
http://www.elitetrader.com/vb/showthread.php?s=&postid=403324
Quote from Rearden Metal:
Just like the late 90's was the golden age of trading, <b>right now</b> is the golden age of online poker. It's gotten to the point where I expect to make over one grand every day, plus another low 4-figure amount every month from affiliate pimping.
Most of these guys on party poker don't have a freaking clue how to play...there's no way the shark/fish ratio can stay this positive for more than 2 or 3 years tops. In summer of 2000, my podiatrist asked if I'd be willing to train him to daytrade, so he could give up all the HMO annoyances of the MD profession. I'll know poker has hit the top when I start getting requests from high end professionals to teach them to play cards. Quite enjoyable for as long as this lasts.
It dried up even quicker than I thought. The shark/fish ratio has deteriorated to the point where I haven't even opened the software in weeks.
Quote from dafugginman:
the games are still by FAR the softest on the net. if you want multi table tournaments, play pokerstars. any cash games shouldn't be played anywhere but party poker. where to play sit n goes is debatable. the format on pokerstars is better, but the play is better too. i'd stick with party for the sit n goes as well. the sit n goes don't start getting even remotely tough until $100 buy ins.
Hiya DFM! Is your poker P/L for Jan-Jun '05 even HALF of was it was Jan-Jun '04? Poker is OVER for me, and for most of the people I know who were able to make a big hit in '03 and '04.
Playing on party now would feel like trading CMGI & YHOO in 2001.
http://tinyurl.com/99s4z
Quote from Rearden Metal:
The following is a REAL conversation with Party support, posted on twoplustwo.com :
That was high comedy
The thing that worries me about party poker (from a users perspective) is that its off-shore (and off-shore in a weird place)...Something that anyone investing/trading the future stock should be aware of...
"We are licensed and regulated by the Government of Gibraltar. "
...I'm sure the Govt of Gibraltar has strict guidelines accounting, gambling,etc.
Quote from keyser1:
That was high comedy
The thing that worries me about party poker (from a users perspective) is that its off-shore (and off-shore in a weird place)...Something that anyone investing/trading the future stock should be aware of...
"We are licensed and regulated by the Government of Gibraltar. "
...I'm sure the Govt of Gibraltar has strict guidelines accounting, gambling,etc.
When did party drop the Kahnawake Gaming Commission? It's news to me.