Ultimate Gaming goes busto. - Poker News

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Ultimate Gaming goes busto.

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11-14-2014 , 01:51 PM

The4thFilm

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Edit: http://www.reviewjournal.com/busines...fter-19-months Credit: Kevmath

Last edited by The4thFilm; 11-14-2014 at 02:09 PM.

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11-14-2014 , 01:59 PM

Turb0Licious

aka Turb0

Join Date: Jul 2009 Posts: 5,054

yeah seeing PokerNews break the news, lol poor Ultimate they did everything wrong, not sad to see them go. Best thing they had going was Jason Somerville and they managed to botch that as well.

crappy software
crappy GTDs
crappy marketing towards poker
crappy restructuring of mtts
the list can go on

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11-14-2014 , 02:01 PM

Joe Tall

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This is bad news. Their product wasn't any good, nor was the product strategy. But the market is just not there.

First reported here:

https://twitter.com/RalstonReports/s...15431868530688

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11-14-2014 , 02:01 PM

bigpotpoker

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Join Date: Jun 2011 Posts: 2,564

Quote:

Originally Posted by Turb0Licious

yeah seeing PokerNews break the news, lol poor Ultimate they did everything wrong.

or maybe there just arent enough players to keep it going as everyone seems to think online poker in the usa is some huge industry. 1/2 would be the biggest game running, and there was no lack of advertising for them.

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11-14-2014 , 02:03 PM

The4thFilm

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Quote:

Originally Posted by Turb0Licious

yeah seeing PokerNews break the news, lol poor Ultimate they did everything wrong.

The customer service was great, VIP program was fine, 4.5% rake was good, but the software was just so awful.

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11-14-2014 , 02:03 PM

Joe Tall

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Quote:

Originally Posted by bigpotpoker

This ^^^

You could honestly chalk this up as a win for Adelson.

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11-14-2014 , 02:05 PM

Kevmath

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Story in LVRJ:

http://www.reviewjournal.com/busines...fter-19-months

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11-14-2014 , 02:07 PM

PTLou

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Join Date: Nov 2008 Posts: 5,516

Quote:

Originally Posted by Turb0Licious

maybe all true, dunno, debatable.... but of more importance....

crappy liquidity due to no more states online and no interstate compacts

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11-14-2014 , 02:08 PM

The4thFilm

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A legal online poker site should be one of the cheapest things to run. The expense in online poker is from paying off payment processors like Daniel Tzvetkoff, which they don't have to do. Otherwise everything is pretty much automated.

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11-14-2014 , 02:11 PM

#10

Joe Tall

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Quote:

Originally Posted by The4thFilm

Ah, no.

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11-14-2014 , 02:14 PM

#11

ZenForest

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Join Date: Dec 2010 Posts: 2,435

..........and Nevada and NJ are STILL not sharing player pools.

STUPID.

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11-14-2014 , 02:17 PM

#12

curtinsea

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Join Date: Jan 2011 Posts: 1,361

I don't think the failure of Ultimate is surprising, nor do I think it is a bad thing

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11-14-2014 , 02:20 PM

#13

HeavyTrev

adept

Join Date: Feb 2009 Posts: 1,189

Quote:

Originally Posted by The4thFilm

So the operators with hundreds/thousands of employees are just wasting money right ? Or perhaps you don't have a clue what you are talking about.

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11-14-2014 , 02:22 PM

#14

TheFly

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Join Date: Apr 2010 Posts: 2,993

Creating an online poker site business model that was to be ONLY for Nevada residents was doomed for failure.

It's like if the brick and mortar strip casinos suddenly announced they are open to Las Vegas residents only, they'd fold in a month.

Economies of Scale are one of the first concepts learned in Economics 101, I guess nobody at Ultimate made it that far.

Though perhaps in fairness, maybe they just wanted to stake a foothold and hopefully before their cash ran out online poker would be legal across ALL of USA. Too bad it didn't happen.

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11-14-2014 , 02:23 PM

#15

curtinsea

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Join Date: Jan 2011 Posts: 1,361

Quote:

Originally Posted by PTLou

maybe all true, dunno, debatable.... but of more importance....

crappy liquidity due to no more states online and no interstate compacts

Not just that, but no international presence from which profits could be made, to sustain and allow for improvements to the product, while states make the slow crawl into the internet age.

They were doomed from the start

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11-14-2014 , 02:23 PM

#16

VP$IP

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Meanwhile, Bitcoin poker looks like more of an option for internet poker players in the US and other locations worldwide where government and/or religion have made it difficult by fragmenting the market, outlawing some games but not others, or excluding certain providers.

The great white father speaks with forked tongue.

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11-14-2014 , 02:29 PM

#17

Turb0Licious

aka Turb0

Join Date: Jul 2009 Posts: 5,054

If only a few states have iPoker passed up and running, they need to be sharing player pools plain and simple. I dream of the day we have a federal iPoker bill passed.

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11-14-2014 , 02:35 PM

#18

echOpoker

centurion

Join Date: Aug 2012 Posts: 117

Just wondering, where in the law does it make it illegal/not possible for states to open their business to customers within the state, and internationally?

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11-14-2014 , 02:42 PM

#19

Sect7G

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This is sad news. tbh I thought this company had all the potential in the world but their marketing strategies weren't that effective. Their software wasn't up to snuff and expansion into other states took longer then expected.

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11-14-2014 , 02:42 PM

#20

Videopro

Making TV

Join Date: Oct 2002 Posts: 19,243

Another article http://www.vegasinc.com/business/gam...e-gaming-shut/

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11-14-2014 , 02:42 PM

#21

echOpoker

centurion

Join Date: Aug 2012 Posts: 117

Quote:

Originally Posted by bigpotpoker

I feel like online poker in the US could be huge, but it would have to be more than just a few states, let alone states that don't share player pools. Fingers crossed that California joins soon.

Quote:

Originally Posted by Joe Tall

This ^^^

You could honestly chalk this up as a win for Adelson.

Ugh, gross.

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11-14-2014 , 02:52 PM

#22

Chippa58

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Join Date: Feb 2011 Posts: 2,259

It blows my mind that anyone believes (or believed) an intra-state player pool could work. Especially now that many Americans have been weaned off online poker.

If it comes back in a trustworthy form, it better be damn good. And how can it be when you confine the player pool to just one state?

What was the five year plan? Build up a big in-state player pool and then get wiped out when poker stars or some other site with a worldwide base comes back on the scene? I don't get it.