Poker News
- October 6, 2008
Duplicate Poker Closed!
Bad news for all players from Duplicate Poker, as of today, they are closed. They announced on October 5, 2008, that they are closing their site, due to “being a small victim of economic crisis”.
Sounds really weird, as how it possibly could Duplicate Poker be associated with credits, as they only always make money from rakeback and other stuff, there is basically no way for them to bankrupt.
The company said, that they hope to re-open the site when there will be a better economic situation.
Here is what their official message on their site says:
Duplicate is sadly bidding farewell to its players. Caught in the middle of the global financial situation the company is not able to continue to provide service. We are a small victim of the global financial crisis.
Regretfully as of the today, October 5th, 2008 we are closing our service. We thank our players for being with us. Hopefully at later time and in a better economic climate Duplicate Poker will re-appear.
Sincerely,
The Duplicate Poker Team
There are rumors flying around, that Duplicate Poker did not close because of the bad economic situation, but because they were doing some shady stuff and probably they did not want to get caught red handed, so they decided to close the site with a reason of “having a tough time, because of the economic crisis”.
The site marketed itself as a skill-based poker game, but it never was so popular among other players. So even maybe these news will not affect many players, but anyway, for all those who liked Duplicate Poker, good luck finding your next home.
One Response to “Duplicate Poker Closed!”
It is a little sad that Duplicate has closed down. I never really got into their game, because I found it a little boring.
As for there not being any way for them to go bankrupt. Thats not entirely true…
I don’t know how much research you have done around the costs involved in setting up an online gaming venture, but from what I can tell it can cost many millions of dollars to either buy or have the software written, get the hardware to host the software on, pay staff, and finally but not least of all, market the site.
All of this even before you have had a single cent of income. This money has to come from somewhere. Banks are one option, and so are investors. With some of the lending institutions closing up shop because they have over extended their lending capabilities, the other banks are tightening their lending restrictions to lessen the impact on them.
Investors are also taking a big hammering on the stock exchanges, so they may be less inclined to provide funds as well.
I’m not saying that your theory is incorrect, but I am saying that it is possible for Duplicate to have cash flow problems.
If their income can’t cover repayments of loans and their other costs then they can’t stay business. Simple.
By PokerMan on Oct 7, 2008