Page 1 of 2 12 LastLast
Results 1 to 20 of 131

Thread: Phil Galfond to start poker site

Hybrid View

Previous Post Previous Post   Next Post Next Post
  1. #1
    Gold MrTickle's Avatar
    Reputation
    429
    Join Date
    Feb 2015
    Location
    Moscow
    Posts
    1,721
    Load Metric
    64821918

    Phil Galfond to start poker site

    A Poker Site Should

    A poker site should value poker players.

    It should value the casual player for the money he's willing to put on the line to play a game he loves. For choosing poker over other hobbies, and for choosing their site over other sites.

    It should value the enthusiast and semi-professional for the liquidity they provide and for growing the game. For spreading the word, across different mediums, about their favorite site.

    It should value the professional for embodying the dream that brings so many people to poker. For proving that poker is a game of skill. For promoting the game of poker to their fans, students, followers or subscribers.

    A poker site needs to believe in the dream of poker as a career. It shouldn't cater to professionals over other players, but it must make every policy change with the viability of the dream in mind.

    A poker site needs to be a software and user experience company. Like other software companies, it should be eager to mine the trove of knowledge, experience, ideas, and feedback that is its player base. It should seek to build a fun and engaging environment that all types of players enjoy playing in.
    A poker site should be transparent. It can't respond to every little idea, thought or wish, but it should do its best to explain its actions. It can't seek to please everyone by making changes that hurt the business, but it shouldn't ignore the public. It should be held accountable for the decisions it makes. It should be able to explain itself in a way that reasonable customers will understand.

    A poker site should believe in fairness. Not fairness for the sake of public image and profits, but fairness for fairness's sake. It shouldn't let honest players, professional or recreational, be taken advantage of by others exploiting unenforceable rules. It should seek to put a stop to predatory behavior and to cheating of any kind. It should strive to create as level a playing field as possible.

    A poker site should be agile in this ever-changing online environment. New ideas for improvement should be acted on. New advances in technology should be responded to. New problems should be met with creative solutions.

    A poker site should understand that it doesn't have to lose for the players to win. Poker operators, professionals, and non-professionals all have their goals/wants/needs and these lists aren't mutually exclusive. It is possible for policy changes to be a win-win-win, or a win-win-tie. The search for these changes should be never-ending.

    A poker site shouldn't obsess over where poker was five or ten years ago. It should seek to build a sustainable economy in the conditions of the present. It must continue to adapt to the climate.

    I want a fair, honest, transparent poker site that believes in the dream that I have lived.

    I'm going to give it my best shot.
    http://www.runitonce.com/chatter/a-poker-site-should/

  2. #2
    Gold
    Reputation
    270
    Join Date
    Jan 2013
    Posts
    2,176
    Load Metric
    64821918
    This is how rich guys go broke.

     
    Comments
      
      GambleBotsChafedPenis: Bingo Rep
      
      Shizzmoney: he might as well start a restaurant rep

  3. #3
    Platinum
    Reputation
    631
    Join Date
    May 2012
    Posts
    4,892
    Load Metric
    64821918
    I have a feeling this is not gonna end well...

    hope for his sake he has some deep pocketed investors to help with the marketing or this is doomed to fail before it even begins...

    assuming he's gonna go the legal route and not the "rogue" route like ACR...that's gonna add to the cost because of all the bullshit state regs you have to deal with...

  4. #4
    Serial Blogger BeerAndPoker's Avatar
    Reputation
    1402
    Join Date
    Mar 2012
    Posts
    10,114
    Blog Entries
    20
    Load Metric
    64821918
    Just like Ivey Poker was going to be a thing too.

    In an ideal world the beliefs that Galfond is sharing are great for the players but a business has to make money otherwise their isn't a point.

  5. #5
    Owner Dan Druff's Avatar
    Reputation
    10078
    Join Date
    Mar 2012
    Posts
    54,522
    Blog Entries
    2
    Load Metric
    64821918
    These are some nice ideas, but it's going to be an uphill battle.

    Very tough to unseat a leader, and Phil's not going to be serving the US market.

    I admire their commitment to transparency and fairness, as even Pokerstars does not have that.

    We will see what happens.

    I wonder who is backing this venture.

  6. #6
    Bronze Matt The Rat's Avatar
    Reputation
    79
    Join Date
    Mar 2012
    Posts
    285
    Load Metric
    64821918
    Word is the new site name will be "Absolute Ultimate Full Epic Poker"

  7. #7
    Platinum thesparten's Avatar
    Reputation
    -12
    Join Date
    Feb 2014
    Posts
    3,590
    Blog Entries
    1
    Load Metric
    64821918
    Quote Originally Posted by MrTickle View Post
    A Poker Site Should

    A poker site should value poker players.

    It should value the casual player for the money he's willing to put on the line to play a game he loves. For choosing poker over other hobbies, and for choosing their site over other sites.

    It should value the enthusiast and semi-professional for the liquidity they provide and for growing the game. For spreading the word, across different mediums, about their favorite site.

    It should value the professional for embodying the dream that brings so many people to poker. For proving that poker is a game of skill. For promoting the game of poker to their fans, students, followers or subscribers.

    A poker site needs to believe in the dream of poker as a career. It shouldn't cater to professionals over other players, but it must make every policy change with the viability of the dream in mind.

    A poker site needs to be a software and user experience company. Like other software companies, it should be eager to mine the trove of knowledge, experience, ideas, and feedback that is its player base. It should seek to build a fun and engaging environment that all types of players enjoy playing in.
    A poker site should be transparent. It can't respond to every little idea, thought or wish, but it should do its best to explain its actions. It can't seek to please everyone by making changes that hurt the business, but it shouldn't ignore the public. It should be held accountable for the decisions it makes. It should be able to explain itself in a way that reasonable customers will understand.

    A poker site should believe in fairness. Not fairness for the sake of public image and profits, but fairness for fairness's sake. It shouldn't let honest players, professional or recreational, be taken advantage of by others exploiting unenforceable rules. It should seek to put a stop to predatory behavior and to cheating of any kind. It should strive to create as level a playing field as possible.

    A poker site should be agile in this ever-changing online environment. New ideas for improvement should be acted on. New advances in technology should be responded to. New problems should be met with creative solutions.

    A poker site should understand that it doesn't have to lose for the players to win. Poker operators, professionals, and non-professionals all have their goals/wants/needs and these lists aren't mutually exclusive. It is possible for policy changes to be a win-win-win, or a win-win-tie. The search for these changes should be never-ending.

    A poker site shouldn't obsess over where poker was five or ten years ago. It should seek to build a sustainable economy in the conditions of the present. It must continue to adapt to the climate.

    I want a fair, honest, transparent poker site that believes in the dream that I have lived.

    I'm going to give it my best shot.
    http://www.runitonce.com/chatter/a-poker-site-should/

    This sounds great!!!

    Sounds like he is going after global pokers player friendly approach.
    Seems like there doing well and the players are having fun..

    Hmmmmm???
    I think the new site will do well also.

    I'm sorry if u leftover hud using/bum hunting (table selection) )seat scripting/ multi tabling/rake back nits DO NOT HAVE THE ABILITY TO COMPREHEND.

  8. #8
    Platinum duped_samaritan's Avatar
    Reputation
    689
    Join Date
    May 2012
    Location
    New York City
    Posts
    3,680
    Load Metric
    64821918
    Quote Originally Posted by thesparten View Post

    This sounds great!!!

    Sounds like he is going after global pokers player friendly approach.
    Seems like there doing well and the players are having fun..

    Hmmmmm???
    I think the new site will do well also.

    I'm sorry if u leftover hud using/bum hunting (table selection) )seat scripting/ multi tabling/rake back nits DO NOT HAVE THE ABILITY TO COMPREHEND.
    Maybe I missed something, but I feel like there 0% chance Galfond would ever ban huds. In fact, I wouldn't be surprised if huds were just another feature on his site so people that can't figure out to install PT or HEM (like you) can enjoy them.

  9. #9
    Serial Blogger BeerAndPoker's Avatar
    Reputation
    1402
    Join Date
    Mar 2012
    Posts
    10,114
    Blog Entries
    20
    Load Metric
    64821918


    I haven't watched this yet but probably will jump through it to see where Phil is coming from.

  10. #10
    Gold sah_24's Avatar
    Reputation
    -37
    Join Date
    Mar 2012
    Location
    Laclede
    Posts
    1,310
    Blog Entries
    5
    Load Metric
    64821918
    Quote Originally Posted by thesparten View Post

    This sounds great!!!

    Sounds like he is going after global pokers player friendly approach.
    Seems like there doing well and the players are having fun..

    Hmmmmm???
    I think the new site will do well also.

    I'm sorry if u leftover hud using/bum hunting (table selection) )seat scripting/ multi tabling/rake back nits DO NOT HAVE THE ABILITY TO COMPREHEND.

    When Spartan likes your ideas, you know the site is headed for FAIL CITY ! luls

  11. #11
    100% Organic MumblesBadly's Avatar
    Reputation
    94
    Join Date
    Jun 2015
    Location
    In the many threads of this forum
    Posts
    9,408
    Load Metric
    64821918
    Heard on PFA radio about RunItUp’s plan to have player avatars change with how they play. Totally agree that this idea is dumb as shit for the reason Druff mentions.

    But consider the following: What if RunItUp had its own HUD software that players could use at their own selections of various levels of detail? Players could choose how much hand statistics they want to see, perhaps grouped into 4 or so levels, such “Basic”, “Intermediate”, “Advanced”, and “Master”. And tie-in to the availability of that self-contained HUD instructional videos on how to use those stats.

    As someone who shies away from online poker because I don’t want to deal with potentially playing online with HUD experts, I’d be much more willing to dip my toe into that piker pool if the HUD was built in and the site provided training on how to use that info.

    Mind you, I think the daily change of user names is also a good idea, as that would make the HUD useful for a session and not help more experienced users use the info to bum hunt using longer histories. But even within an individual session, a HUD would be both useful more skilled players and instructional for lesser skilled ones.
    _____________________________________________
    Quote Originally Posted by Dan Druff View Post
    I actually hope this [second impeachment] succeeds, because I want Trump put down politically like a sick, 14-year-old dog. ... I don't want him complicating the 2024 primary season. I just want him done.
    Quote Originally Posted by Dan Druff View Post
    Were Republicans cowardly or unethical not to go along with [convicting Trump in the second impeachment Senate trial]? No. The smart move was to reject it.

  12. #12
    Gold sah_24's Avatar
    Reputation
    -37
    Join Date
    Mar 2012
    Location
    Laclede
    Posts
    1,310
    Blog Entries
    5
    Load Metric
    64821918
    Quote Originally Posted by MumblesBadly View Post
    Heard on PFA radio about RunItUp’s plan to have player avatars change with how they play. Totally agree that this idea is dumb as shit for the reason Druff mentions.

    But consider the following: What if RunItUp had its own HUD software that players could use at their own selections of various levels of detail? Players could choose how much hand statistics they want to see, perhaps grouped into 4 or so levels, such “Basic”, “Intermediate”, “Advanced”, and “Master”. And tie-in to the availability of that self-contained HUD instructional videos on how to use those stats.

    As someone who shies away from online poker because I don’t want to deal with potentially playing online with HUD experts, I’d be much more willing to dip my toe into that piker pool if the HUD was built in and the site provided training on how to use that info.

    Mind you, I think the daily change of user names is also a good idea, as that would make the HUD useful for a session and not help more experienced users use the info to bum hunt using longer histories. But even within an individual session, a HUD would be both useful more skilled players and instructional for lesser skilled ones.
    TFW you don't even know what "bum hunting" means ... luls classic Mumbles

     
    Comments
      
      MumblesBadly: How does this potshot at me contribute to the discussion? Save it for the Flying Stupidity forum!

  13. #13
    Owner Dan Druff's Avatar
    Reputation
    10078
    Join Date
    Mar 2012
    Posts
    54,522
    Blog Entries
    2
    Load Metric
    64821918


    Courtesy of 2+2 user ArtyMcFly


  14. #14
    Bronze
    Reputation
    67
    Join Date
    Mar 2012
    Posts
    188
    Load Metric
    64821918
    Not at all surprised but it would appear Run It Once is closing down.

    Just received an email confirming that from the 3rd January all current game offerings will cease.

    Surprised it lasted as long as it did

  15. #15
    Canadrunk limitles's Avatar
    Reputation
    1660
    Join Date
    Mar 2012
    Location
    In Todd's head
    Posts
    17,596
    Blog Entries
    1
    Load Metric
    64821918
    Quote Originally Posted by nutty007 View Post
    Not at all surprised but it would appear Run It Once is closing down.

    Just received an email confirming that from the 3rd January all current game offerings will cease.

    Surprised it lasted as long as it did
    And there's no coming back with that name

     
    Comments
      
      Matt The Rat: LOL Good one

  16. #16
    Gold Ryback_feed_me_more's Avatar
    Reputation
    163
    Join Date
    Oct 2012
    Location
    Sin City
    Posts
    1,451
    Load Metric
    64821918
    Quote Originally Posted by limitles View Post
    Quote Originally Posted by nutty007 View Post
    Not at all surprised but it would appear Run It Once is closing down.

    Just received an email confirming that from the 3rd January all current game offerings will cease.

    Surprised it lasted as long as it did
    And there's no coming back with that name
    Ok Leslie. I admit it that was funny.
    Name:  tenor.gif
Views: 1278
Size:  167.0 KB

  17. #17
    Gold Ryback_feed_me_more's Avatar
    Reputation
    163
    Join Date
    Oct 2012
    Location
    Sin City
    Posts
    1,451
    Load Metric
    64821918
    Quote Originally Posted by nutty007 View Post
    Not at all surprised but it would appear Run It Once is closing down.

    Just received an email confirming that from the 3rd January all current game offerings will cease.

    Surprised it lasted as long as it did
    At least with it there wasnt an insider stealing funds unlike FTP and a few other sites that shall remain nameless.

  18. #18
    Owner Dan Druff's Avatar
    Reputation
    10078
    Join Date
    Mar 2012
    Posts
    54,522
    Blog Entries
    2
    Load Metric
    64821918
    Here's the blog where he explains everything: https://www.runitonce.eu/news/running-it-again/

    In short, it's closing on January 3 (just 4 days notice), but they will be working on moving to the US market in the future. Phil is framing this in the blog as an exciting new beginning.

    He also put out a tweet linking that blog, and he has a ton of comments from mostly well-meaning but clueless people, acting excited for him while not understanding the tremendous odds against success:

    https://twitter.com/PhilGalfond/status/1476579992909713411


    There are several elements to discuss here. First off, as Phil verified in his tweet replies, this will be an effort to run a LEGAL site in the US. That means he's not going to put up another ACR or Bovada. Therefore, he can only run out of states where it's legal, which at the moment are: Nevada, New Jersey, Delaware, West Virginia, Pennsylvania, Michigan, and Connecticut.

    However, he can't just abruptly set up shop in these states. He would need to get licensed. In Michigan and Connecticut, it's likely impossible for the moment, because those states only allow one site per land-based casino, and all of those licenses are all given out already. Delaware (population 1m) and West Virginia (population 1.8m) are too small to be considered viable options. That leaves Nevada, New Jersey, and Pennsylvania.

    Let's look at each one of these:

    Nevada also has a small population (3 million), and online poker has failed there miserably, with all attempted sites down except WSOP.com, which is still struggling despite the heavy marketing, popular brand, and combined player pool with New Jersey.

    New Jersey's non-WSOP sites are doing even worse. Pokerstars is averaging just 120 cash players (!!), despite its extremely popular brand and software. Party is averaging just 90 players. Ouch.

    Pennsylvania's Pokerstars is doing about the same as the combined WSOP NV/NJ, but still both are only averaging 260 cash players. The only other competition in PA (Bet MGM) is averaging 35 players. Clearly there's no room for a third player in that market.

    You can see all of this data here: https://www.pokerscout.com/us/

    In general, legalized online poker has been a huge failure. It will stay a huge failure unless some big states (California, Florida, Texas) get on board, and then combine player pools. Will this happen? Possibly, but don't hold your breath. It's been almost 11 years since Black Friday, and almost 9 years since the first legalized poker site (the now-deceased Ultimate Poker) launched in the US. It has been well learned by casino operators that regulated poker is a loser in the US, and the real money is from online sportsbooks and casino games (mostly sports). In some states, poker may ride along with these other two, but there will never be much effort put into marketing it, as it will always be seen as the redheaded stepchild, whereas sportsbetting will be treated as the prodigal son.

    While Phil is a well known pro, and is well respected, that's not enough to draw people over bigger brands. Furthermore, Galfond is one of those guys who is very well known to pro players, but not as much to recs and poker fans. He's not on the same level (marketing-wise) as a Negreanu or Hellmuth.

    The takeaway is that it's not very smart to start a new US legalized poker site in 2022. In 2013, it was a worthwhile gamble, as the ceiling was unknown. Today, it is clear that it's a small market, has a small potential player pool, and it's already saturated.


    More next post...

  19. #19
    Owner Dan Druff's Avatar
    Reputation
    10078
    Join Date
    Mar 2012
    Posts
    54,522
    Blog Entries
    2
    Load Metric
    64821918
    You might also have the question, "Why is it necessary to shut down the non-US Run It Once, in order to start a US version?"

    That's actually an excellent question, and Phil never fully addresses it. The closest we got was in this tweet:

    https://twitter.com/PhilGalfond/status/1476638663815544834


    He simply says it was the "wrong business decision for us right now", but doesn't go into detail.

    While I can only speculate, my guess is that Run It Once is burning enough money every month to where leaving it open in the non-US market simply didn't make sense for them. It is unlikely to turn around at any point, and that money being burned would be better spent toward their regulated US effort. Furthermore, it is possible that potential license partners in the US would be turned off by seeing that the existing non-US site is a ghost town, so it's probably better that Run It Once is completely down before they undertake this effort.

    You can also read a lot into the January 3 closure date, which is surprisingly just 4 days after the announcement! While players will be given additional time to withdraw their funds, it is clear that this was an abrupt decision, and that the present site is considered of such little value that they want to shut it down virtually immediately.

    I actually agree with this decision. There is nothing to be gained by leaving the existing Run It Once operational, and it would simply cause more investor money (and probably some of Phil's money) to fly out the window.



    More next post...

  20. #20
    Owner Dan Druff's Avatar
    Reputation
    10078
    Join Date
    Mar 2012
    Posts
    54,522
    Blog Entries
    2
    Load Metric
    64821918
    You might also be asking, "Why will things go any differently in the US? Why even bother?"

    My prediction is that things won't go differently, and they will either fail to obtain a license, or they will get one and have the same disappointing results stateside.

    However, at the same time, I understand why they are taking the shot.

    They spent a lot of money developing their proprietary software. They spent a lot of time, money, and effort, building the rest of the business which surrounds the software.

    Much of that is reusable in the US market. It also doesn't have much resale value. So they can either have a fire sale and recoup a pittance of that money, or they can give this one last shot at making use of it.

    If this sounds like the "sunk cost fallacy" to you -- the phenomenon where a person is reluctant to abandon a course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial -- you're probably somewhat correct. However, it is possible that Galfond and his partners are projecting that it won't cost all that much to give this final shot to the US market, especially if they can partner with a land-based casino which agrees to promote the site for them. It is true that most land-based operators simply want to buy existing software and sometimes farm out the operations as well, so Galfond probably thinks they might have what it takes.

    I don't think it's a bad idea if it can really be done as a low-risk Hail Mary, but I feel the chance of success is low, for reasons I already mentioned.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Poker Pro Phil Ivey Asks U.K. Court...What Is Cheating?
    By TheXFactor in forum Scams, Scandals, and Shadiness
    Replies: 0
    Last Post: 04-13-2016, 08:54 AM
  2. Galfond outs High Stakes Poker Scammer
    By The Shrink in forum Scams, Scandals, and Shadiness
    Replies: 9
    Last Post: 02-29-2016, 02:47 PM
  3. Replies: 3
    Last Post: 01-03-2014, 02:27 AM
  4. Phil Galfond's Penthouse made Cnbc.com
    By Pooh in forum Flying Stupidity
    Replies: 4
    Last Post: 09-03-2012, 05:12 AM