Five years since launch of PokerShares.com, poker betting site is unfortunately ceasing its operations in 2022. The news was announced today in a press release via twitter and e-mail. All users will have time to cash out their funds until March 31st 2022.
PokerShares website was born from Mike McDonald's idea that some players were not pricing themselves right when selling their poker action. What was first just a joke in the form of twitter account "Bank of Timex", later evolved into a fully licensed betting website where you could bet on any player you wanted, live or online. They covered all the majors events like WSOP, WPT, PCA Bahamas, SCOOP/WCOOP events and even heads-up battles involving Daniel Negraenu, Phil Galfond, Jungleman and many more.
As stated in press release the main reason for ceasing operations are regulatory limitations and team focusing on other ventures. Whoever follows Mike's twitter account knows he's heavily involved in crypto lately, so we are sure to expect a project from him in this rising industry. Or maybe Mike can finally finds time to become a chess grandmaster.
Posted below is full press release sent via an email to their users:
After 5 great years of pioneering as the bookmaker for all things poker we will stop offering bets on poker events and cease our operations. PokerShares will not be offering any more betting markets as of January 2022. All our users will have until March 31st 2022 to cash out their balances.
It has been a rewarding experience to help make the poker staking market more efficient, give fans at home more skin in the game, and allow the community to have a better perspective on how the market tends to rank various players.
As time has progressed our team has grown more focussed on other ventures, and grown further removed from the ins and outs of top-level poker, as well as found regulatory limitations have limited our ability to continue growing our business effectively.
We appreciate your continued support over the years and sincerely hope your favorite player is crowned 2022 WSOP main event champion.