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LiveAce #Poker shuts down
Sunday December 22,2013 : SUBSCRIPTION ONLINE POKER SITE SHUTS DOWN
A fundamental business reason to close the doors...
After just short of four months online the subscription poker site LiveAce has called it a day, citing the most fundamental of business reasons...an inability to generate sufficient revenue to cover operational costs.
Although the subscription business model is not uncommon among US online poker sites trying to ensure they are operating legally under sweepstake laws, LiveAce had devised a business structure that it claimed was unique.
It offered rake-free cash games and allowed punters to offer chips for sale for real money at regular daily auctions run by the operator.
The operator and CEO, Adam D. Stein-Sapir, had carefully sussed out the laws applicable in target states, and accepted only those he was sure had sweepstake laws - reportedly just over half of US states.
This week LiveAce announced that it has "suspended" activity, explaining in a website notification that it had not been able to deliver sufficient revenues to cover the expense of operating the site.
However, it will continue to assist players with legitimate cash claims in respect of unused subscriptions or auctioned chip purchases until the beginning of March 2014.
Strangely, players have been urged to submit claims by regular mail instead of email.
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3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
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The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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