Is it PartyBetting Next for the Poker Giant?

Filed in archive Betting on June 29, 2006

Partygaming, the owners of partypoker.com may make a surprise bid to enter the competitive sportsbetting market.

They are about to unveil plans to acquire one or multiple sites using the proceeds of a bonds issue.

Partygaming are seeing this move as a way to diversify and 'de-risk' due to the current uncertainty in the US - where the majority of their player base resides. They are likely to follow a number of UK bookies who don't allow US players on their sportsbook - unlike outspoken online bookmaker, Sportingbet.

Whilst there appears to be a good crossover between the poker market and the sportsbetting market, its a risky move for the poker giant who are used to managing marketing managers and affiliates whilst keeping their rake, instead of the huge liabilities that sports betting often incur when results don't go to plan (or do, as the case usually is for betting)

Most online poker operators admit privately that June has seen a fall in activity on their sites as European online poker players have tuned in to the football.

The World Cup - despite being less profitable than bookmakers had hoped because of the lack of surprise results - has also been a huge marketing boost for sports betting companies, especially in continental Europe where betting on sport has rarely matched British levels of enthusiasm

Article: PartyGaming plans £500m move into sports betting