PartyGaming may float Party Poker
The largest online poker betting site, Party Poker has announced it may float on the London Stock Exchange in the near future. If they float it will provide an amazing insight into the profits being made by online gambling companies.
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Early estimates have placed a value of around 3 billion pounds on PartyGaming - owners of Party Poker. Other companies valued in this type of range include British Airways and ICI.
Party Poker is runoured to possess almost 50% of the
online poker betting market and claims to have in excess of 50,000 players on their site at peak hours. With such a huge player base it's easy to believe their profit is romoured to be in the region of nearly £200 million last year.
Where poker betting sites such as PartyPoker make their money is be taking a rake from each pot played on their site. Taking 1-3% of each pot is as you would expect privides massive earning potential and
Party Poker is at the peak of the online poker industry. It will certainly be interesting when they announce their official share price.
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