Since the first hand was electronically dealt at Planet Poker back in 1998, owning and operating an online poker room was seen as something of a can’t miss proposition considering once you had your software up and were dealing games you were basically printing money. But with the current online poker economy this is no longer the case, and poker rooms have been falling on extremely hard times since Black Friday.
Prior to Black Friday there were only a handful of failed online poker rooms (many others sold of their assets or quietly went into mothball, but in terms of failed rooms there were very few) but since the US Department of Justice flipped the online poker world on its head poker rooms have been closing at an alarming pace. Even more worrisome is the number of poker rooms that are going offline owing money to players and/or affiliates.
The latest casualties in the online poker world are FeltStars and Kingdom of Poker, both presenting their own cautionary tales:
Another one of the Merge Gaming Network skins has fallen on hard times and was forced to close its doors this week, as FeltStars customers were greeted with the following message when they visited the site:
FeltStars is no longer operational.
Your balance is secure. Please select another Merge partner from the list below.
Feltstars problems were directly caused by Black Friday as US poker rooms are likely paying extraordinary fees in order to get their customers paid, and only some of these fees can be passed on to the players themselves.
Kingdom of Poker
Kingdom of Poker was recently launched as an independent online poker site focusing on the Asian Market. Because of this the site had little regulatory oversight, and as an independent room traffic was extremely sparse at the site.
According to 4Flush.com, most of the players at the site were either enticed through a free $8 no-deposit deal, or were prop players, receiving 100% rakeback.
Now the site owes not only their players (fortunately very few of them deposited their own money) but affiliates they had worked with. According to the 4Flush article the site also used “Agents” to handle depsoits and withdrawals, which is a very dicey proposition.
Other poker rooms that have been forced to close down in the wake of Black Friday are Victory Poker, Poker Nordica, GutShot, Bluff Room, the IGT Poker Network, and of course UB and Absolute Poker.
200% up to $2000 + $25 FREE BONUS
Titan Poker Bonus Code: TP2000
Titan Poker Coupon Code