European poker rooms shopping for players

When UIGEA was passed in the US in 2006 every major online gambling brand based in Europe shut-up shop in America and US players had to go elsewhere to play online.  Despite it’s ambiguities, the intent of UIGEA was always clear…to stop Americans gambling online, and the European operators honored this intent and in so doing turned their back on a very lucrative market.

Of course where there is a an enormous market wanting to be satisfied, operators with a larger risk appetite are always going to fill the void and service that market. And so it was that FullTiltPoker, PokerStars and Absolute Poker have enjoyed 4 or 5 very lucrative years while the likes of Ladbrokes, Bwin, bet365, PartyGaming, William Hill, Betfair have been sitting on the sidelines watching.

It’s no wonder that these guys are now licking their chops following the FullTiltPoker, PokerStars and Absolute Poker indictments and domain seizures .

Shares in 888, and Playtech have surged.  Shares in the just merged Bwin.Party are up 30% on the news.

While these operators aren’t about to start marketing to US poker players, they seem pretty confident that recent developments will see non-US customers of FullTilt, PokerStars and AP shopping around for alternative poker rooms.  I know I’d be nervous if I had a few thousand dollars sitting in my FullTilt account while the FBI and DOJ were trying to freeze bank accounts and seize funds.  Yep, I’d have closed my account Saturday…and I’m Australian not American.

A report in Australia’s Canberra Times has speculated on a mass exodus of Australian players from the ‘big 3’.  And the story will probably be the same around the world, despite the best efforts of FullTilt et al to allay player fears.

I received a email from FullTilt today assuring me that player funds are safe and not at all at risk.

“We are deeply sorry for this inconvenience, but these events are beyond our control. Please be assured that your funds, and your players funds are safe, and we thank you for your patience while we do everything in our power to have money returned to those who have requested it as soon as possible”

I’m sure PokerStars and Absolute Poker have sent out similar emails to their players.

But just as the indictments, domain and bank account seizures were beyond their control, so too will be players’ funds. To me the statement provided all the assurance that you get from the management of a poor performing football team giving their unequivocal support to the coach and his tenure at the club. That coach usually gets the chop a few weeks later.

No doubt about it, right at this moment there are hundreds of thousands of avid online poker players looking for a new home.  And the big Euro-operators are very aware of this and working hard to become that new home.

I’ve already received emails from a few of them, and the theme is pretty similar…we’re licensed, we’re safe, we’re secure and there’s no chance your deposits will ever be at risk with us.

Here’s a few examples…

Ladbrokes: “one of Europe’s most trusted gaming brands and leading poker software”

PartyPoker: “There has never been a better time to play at PartyPoker.com! Poker players have trusted PartyPoker.com since 2001. We guarantee our players safe, secure and prompt payments”

bet365:  “bet365 is one of, if not the most, trustworthy gambling operator in the UK. The family run business is the 7th biggest private company in the UK and has been recognised within the industry as a pillar of strength”