Pokershare busts after less then 2 months

pokeraddict

Webmaster
Pokershare, with only 2 months or so in the poker world, closes all North Amercian accounts without any notice. Obviously this is a PR nightmare for Ultimate Bet who banks and hosts Pokershare. Players were sent a non descript email telling them to expect checks in the mail. Many players had their entire bankroll in Pokershare and message boards are full of speculation that players will receive no part of the profits (if there were any) that they played so many raked hands for, some even speculate Pokershare has run off with all of the money which is doubtful since UB banks it.

<opinion> This is a HUGE PR nightmare for Ultimate Bet. How are players to trust UB when their skins cant even give notice of closure and cant even refund players funds to their deposit methods, instead emailing "the checks in the mail" to their players.</opinion>
 

paul1

Dormant account
Well that sucks. You're right about it being a PR nightmare. But I quit playing there (UB) anyway, when they changed their point structure for clearing bonuses. It used to be pretty good, even though the games were somewhat tougher. Now there's really no reason to play there for me. It's pretty hard to clear a bonus there now, and tough games. There's better places to play at. I do like UB's software though. It's smooth and fast. I don't know what they're thinking. I do wish them luck, though. If they can get through this mess, and get everything together, they're poised to be a major player. Don't blow it now, UB.
 

winbig

Keep winning this amount.
Knew it

I figured from the start of PS that this would happen. I never played there...just had a feeling. The key ingredient of my original skepticism was the fact they were telling players that they would get a check "sometime in December", but yet couldn't say if it would be the beginning, middle, nor end. If you ask me, if they planned it well from the start, the date of payment would have already been in place and there would be no question on whether you would get paid, and when.

I do hope the players get their bankrolls back and profits (as stated above) too.

Good luck! :thumbsup:
 

m249a

Dormant account
This is very bad for ultimate bet. I am certian they will step up and make good on whatever is owed, but it will be well into next year before all of this is straightened out. I think th ekey yo forum players/complainers will be to attach UB's name to every post made about this mess. The fact is less people then you may think, understand the concept of skins/clones ect...Shame on UB for letting this run unchecked.
 

bpb

Banned User - repeated violations of rule 1.14 (tr
PABnonaccred
PABnorogue
Ultimate Bet is the one who pressured their parent skin company into forcing pokershare to close all north american accounts.

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pokeraddict

Webmaster
bpb said:
Ultimate Bet is the one who pressured their parent skin company into forcing pokershare to close all north american accounts.

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This is true. UB pushed Pokershare out of public rakeback even though UB rakeback is allowed. They also pushed to not allow players to have accounts on both and won that in the end.

Players are reporting getting paid by Neteller even though the emails would have led one to believe there would be a delay.
 

FrontPocketNuts

Dormant account
PokerShare

I read on a couple of other forums that Pokershre didn't bust but UB stabbed them in the back, closing all the american accounts.

Whats the real story?
 

Casinomeister

Forum Cheermeister
Staff member
FrontPocketNuts said:
I read on a couple of other forums that Pokershre didn't bust but UB stabbed them in the back, closing all the american accounts.

Whats the real story?
Enquiring minds want to know - and hopefully next week at the EIG, I might be able to find out what happened.
 

pokeraddict

Webmaster
When I used the word bust I guess it was poor word choice I guess. I meant the concept busted. This was the doing of the network, probably UB since they have had it out for them for their entire existance. UB has had nothing to say about this.
 

webber286

Dormant account
webmeister
It does appear that Excapsa, the holding company for UB was behind the decision. Some speculation I have read references that PS was cannabalizing UB too much, and with PS's business model, that meant that Excapsa would be loosing margin on the players they already had in their system. Guess there weren't enough "new" players to outweigh the cannabalization effect. This is all speculation too BTW.
 

dominique

Dormant account
Actually, it is not speculation.

I have sources in this group and that is exactly what happened.

Pokershare was doing too well too fast, offering both rakeback and profitshare, and UB freaked and kept pestering it's parent company Excapsa. First Excapsa forbid Pokershare to offer rakeback, then they snuck into Pokershare's facilities to mail that letter and to remove the Pokershare affiliate program from it's rep site - Income Access.

Pokershare was such a threat to UB, they would not stop until Excapsa cut Pokershare off at the knees.

This is not speculation but it is what happened.

Shame, shame , shame on UB!!!!

I hope Pokershare sues you to hell and back!

Unfortunately I am not privvy to the exact contract between Pokershare and Excapsa, but I think it is fairly safe to assume that Excapsa likely did not have the right to use pokershare's facilities to kill their business.

Not to mention that affiliates are left high and dry and have lost all kinds of money due to Excapsa's capricious actions.
 

pokeraddict

Webmaster
I agree with Dominique, UB has tarnished their reputation over this. Many serious players do not trust them now, even ones who never bothered with Pokershare. Affiliates, traditional or rakeback, have also lost trust with UB and Income Access over this. The time and money invested in promotion is lost forever as well as the possibility of players holding this against affiliates for signing them up.

As far as I am concerned UB owes many an open apology for their actions, until then their reputation will be somewhat tarnished among serious players and affiliates.
 
L

LordJord

Guest
Bad Move Excapsa

Whoever or what ever lies behind this, it's a rotten shame. I know there are some people (WinBig included) who foresaw that PokerShare would have a paltry half-life. Naive little me thought it was a revolutionary idea that would change the face of online gaming. Dun Dun Dun... Seems I was wrong, though I still think it's a brilliant, if not implausible, idea. The truth is, even though the network may have been losing more on UB's end than it was gaining on PokerShare's, I think ultimately (no, not a pun, I promise), PS would have become a major player for Excapsa.
 

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