Online Casino BTDino

The blog for the online casino btdino contest

Friday, October 07, 2005

Regarding btdino

Poker, particularly online poker, is trendy. PartyGaming, whose main business, PartyPoker.com, began operating only in 2001, is the whale of the industry - accounting for up to half the worldwide market. At any time, up to 80,000 people across the globe are hunched over their screens, playing its games. PartyPoker.com has a million registered players.

The appeal is obvious. At the click of a mouse, players can join a table day or night, playing for whatever stake they choose. Someone, somewhere in the world, is always ready to play. For the majority, it is a harmless, entertaining and affordable pursuit. For a small minority, it has led to obsession and ruin.

Working to the premise that the winners in the California Gold Rush were not the diggers but the pickaxe sellers and brothel-keepers, PartyGaming

does not actually act as principal. It takes no gaming risk. It is merely host or facilitator. Customers play each other. PartyGaming takes money off everyone through the so-called "rake" - the proportion of stake money skimmed off as commission, typically 3 per cent.

Revenues have grown from $30m in 2002 to $602m in 2004. Analysts at Morgan Stanley reckon the company will have no trouble scooping in $966m this year and $1.48bn by 2007. It is a volume business. While revenues soar, costs grow much more slowly. It may be a giant, but it still only employs 1,100 people. Profits grow exponentially. This explains PartyGaming's phenomenal valuation. Dikshit, 33, could be worth £2bn ($3.6bn), as could Parasol, 38, and her husband, another large shareholder.