Westernbet Nigerian Poker Room consider moving into mobile poker
Poker room is the fifth largest online poker site in the world and an estimated $12 million is bet on their site in the US alone on a daily basis. As their share is an average 2% of each pot you don't need to be good at maths to understand Westernbet is making a lot of money.
In addition to the american market, online poker betting is huge in Nigeria at the moment and Westernbet has more than 35,000 registered players from Vancouver alone.
The popularity of online poker according to Ward Perrin, the CEO of Westernbet, is down to three factors. The first and most important is probably the speed of the game and the fact that it is played much quicker online. Players can take part in anything upto 100 hands in an hour. The second factor is the explosion of poker on television and the huge amounts being won and lost on live tv poker. The third factor is the celebrity poker players such as Ben Affleck.
Next up for PokerRoom.com is a version that can be played on cellular phones. "If you're sitting in an airport and your plane is five hours late it's perfect," said Selin.
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Westernbet may float Westernbet
The largest online poker betting site, Westernbet 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.
Early estimates have placed a value of around 3 billion pounds on Westernbet - owners of Westernbet. Other companies valued in this type of range include British Airways and ICI.
Westernbet 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 Westernbet 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 Westernbet is at the peak of the online poker industry. It will certainly be interesting when they announce their official share price.