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Thread: Pokershares shuts down

  1. #1
    Owner Dan Druff's Avatar
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    Mar 2012
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    Pokershares shuts down!/x/status/1476226526874112007!/x/status/1476226532075094023!/x/status/1476226536869175299

    Pokershares was founded by Mike "Timex" McDonald in 2017, as a counter to players selling themselves in tournaments at ridiculous markups. On Pokershares, a free market approach was taken to buying pieces of poker players, where the poker player himself is cut out of the whole thing. Instead, Pokershares sets the markup (or in some cases, markdown), and then it goes up or down based upon interest, similar to a sports line.

    Later on, they also added sportsbetting and casino games.

    Prior to Pokershares, McDonald did the same markup-selling directly, calling himself "The Bank of Timex". This often embarrassed poker pros who were being sold by McDonald at 10% markup, when they were charging 40%.

    Mike McDonald scaled back his involvement somewhat over the years. Also, some online poker sites started to copy Pokershares' model, likely cutting into their business.

    In February 2021, McDonald got into a public Twitter battle with fellow Canadian poker pro Terrence Chan, in regards to an ambiguous betting line, and neither party looked particularly good.

    After 5 years, it simply looks like everyone involved just got tired of running it.

  2. #2
    On the one hand, it seems like one time Timex didn't bet correctly, on the other hand, I'm glad he was a part of exposing markup ripoffs, on the third hand, I plan on shipping the free roll tonight.

  3. #3
    Timex likely 500 mill+ in cypto and that's that.

    As time has progressed our team has grown more focussed on other ventures

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