There is a new concept underway at a fledgling poker site trying to break into a very crowded market: offer up a share of the profits to members.
PokerShare.com opened its doors, so to speak, about two weeks ago but will continue ramping up the site through the fall. The site is open to any and all who register to play poker with others from around the world.
The creators of PokerShare.com sat around for a while, scratching their heads as to how they could break into a market already dominated by the likes of PartyPoker.com and PokerStars.com as well as hundreds of others. The ah-ha came with the idea to offer up a share of the profits to players, a unique way to build customer retention and acquisition.
PokerShare.com gives 40% of its profits to The Poker Share Trust, which distributes profits quarterly to players based on how many SharePoints they earn (that’s whether they win or lose). The funds can be withdrawn immediately or used to play on the site. Players earn SharePoints from the length of time they play, the number of pots contributed and from tournament fees.
“I very strongly believe in our concept and I think that’s what’s going to sell our company,” said Lucan Toh, CEO of PokerShare.com, operated b y Playit Ownit Ltd., an online gaming company based in Gibraltar.
Toh declined comment on the number of members it has so far, however, a marketing spend of up to $10 million over the next six months is likely to draw plenty of attention. Efforts will focus online with banner ads on key sites, cost-per-click ads on google and online forums. A sponsored educational DVD for poker players is in the works. E-mail, word of mouth and print ads, which Toh characterized as “gutsy,” will take on top competitors, support.
“It’s very in your face and I’m looking forward to their reaction on that,” Toh said.
The goal, to rank among the top 10 poker sites within the next 12 months, he said.
Network
