According to a five-part Twitter thread sent by the firm on Wednesday, PokerShares, the popular sports betting website, will shut down in January. Mike “Timex” McDonald, a former poker player and passionate gambler and investor, launched the website. PokerShares enabled players and fans to bet on a variety of poker games and competitions. It includes the Doug Polk vs. Daniel Negreanu heads-up challenge, high rollers, and more.
McDonald founded PokerShares in early 2017, with the goal of allowing fans and investors to participate in a poker tournament even if they weren’t really participating. In a tournament, users might buy virtual shares in a certain player. The gambling site was particularly handy for wagers that traditional bookies didn’t give, such as Polk vs. Negreanu and all of the previous heads-up challenges.
McDonald’s, however, has chosen to close the business after five years. PokerShares announced its plan to cease operations beginning next month, but gave no particular reasons for doing so, only a generic statement. As time has passed, our team has become more focused on other enterprises and has grown farther away from the ins and outs of top-level poker, as well as discovered regulatory limits have hindered our capacity to continue developing our business efficiently,” the @pokershares Twitter account stated.
Customers may still pay out any leftover money until the month of March. Even though the site will stop accepting bets and stakes in January. McDonald, one of poker’s most prominent property entrepreneurs and proposition wagers, appears to be concentrating on his other businesses, including NFTs and cryptocurrencies.
Max Silver, who won a WSOP bracelet in 2017, quipped about the drawbacks of PokerShares ceasing operations. In reaction to the PokerShares news, Nikolai Yakovenko (@ivanbezdomny) tweeted, “Thanks for having this available for our entertainment.” There weren’t many more noteworthy remarks about the story at the time of publication.