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Online Poker Sites Feeling the Pinch
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Author: Renee
November 13 - When the going gets tough, the first thing that consumers do is cut down on what they may coin 'unnecessary items'. In the majority of cases, online poker is branded in this category and, as a result, poker websites are starting to feel the pinch of the presently tough conditions in the global market.
Already the US poker market has reported the closure of several popular sites, the latest being the subscription-based Fleet Street Games. For a flat rate of $19.99 each money, players could compete at games and in tournaments with other players at their level, and even compete for prizes valued at $150,000.
The logic behind a site such as Fleet Street games was that players could play safe in the knowledge that there was a upper limit, with zero risk on their bankroll. However, despite these good intentions, the site was forced to admit defeat and officially closed down at the end of October.
In a statement on the Fleet Street website it was noted: "When we launched Fleet Street Games, we fully expected that we could weather a reasonable amount of time until we had the volume of players we needed to make the company viable. But as the result of the chaotic economy, things changed and we had to make a very tough decision."
Some online poker players who can still afford to play their favorite games are quite enjoying the dilution of other players at these sites. There is less competition, there are less sharks doing the rounds and therefore a greater chance of winning in the long run, especially in guaranteed tournaments.
The online poker industry is hopeful that the current credit crunch will be over soon and that players will have more money to spend at these websites.
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