..

Poker.com.au Bought For a Mere $100,000

Written by:
Aaron Goldstein
Published on:
Jan/11/2011
Poker.com.au

888 Holdings has bought the domain name Poker.com.au for a mere $100,000.  The reason for the low price:  Australia prohibits online gambling services from advertising to residents of the country.

NetFleet’s David Lye told SmartCompany.com.au in an interview that,

had the current laws not been in existence, we would probably see the domain name going for ten times the current asking price.

“There is a Canadian equivalent, Poker.ca, that sold for $400,000 last year. Now, Canada has one-and-a-half times the population of Australia and that site commanded a price much, much higher.”

888 Holdings (888.com) enjoys a decent-size presence in the nation.  The company itself operates the 14th largest online poker network in the world.

According to Gambling911.com Australian online gambling authority, Greg Tingle, current laws also prohibit Websites from offering gambling in the nation, but there is an important catch. 

“The current law does not make it a criminal act for Australians to engage in these services,” Tingle says.  “The Australian Government has even restated last year that it would not lift the restrictions, despite a Productivity Commission report recommending the restrictions should cease.”

Australia will take center stage in the poker world this week when they kick off the 2011 Aussie Millions.  The Main Event of the series is the Southern Hemisphere's richest poker tournament with a prize pool in excess of AU$7 million.  800 players are expected to take part in this year’s tournament. 

- Aaron Goldstein, Gambling911.com

Click on the banner to learn more

Business/Financial News

Coinbase Goes Public, Exposure to Regulatory Danger?

Coinbase Goes Public, Exposure to Regulatory Danger?

Coinbase is making its initial public offering of stock April 14 and this has helped push the price of Bitcoin up to near $64,000 as of Wednesday morning.

Sudan Embraces the Blockchain, Arizona One Step Closer to Sports Betting

Sudan Embraces the Blockchain, Arizona One Step Closer to Sports Betting

The Bitcoin Association and the BSV delegation was welcome by the Sudan government last week in an effort to implement blockchain technology and this week Arizona was well on its way to becoming the next US state to legalize sports betting with only the Governor's signature needed.

Lawsuit Filed Against Dr. Craig Wright "Father of Bitcoin": Not Author of White Paper?

Suit Filed Against Craig Wright "Father of Bitcoin": Not Author of White Paper?

Suit seeks to prove Wright is NOT the rightful founder of Bitcoin, but some would argue we will know otherwise in due time.

Ethereum-based Virtue Poker Gets Malta Clearance

Ethereum-based Virtue Poker Gets Malta Clearance

Ethereum-based startup Virtue Poker plans to conduct an initial DEX offering (IDO). While these types of announcements typically get lost in the crypto waste dump - often where they belong - this one has a little more punch.

The Bitcoin White Paper:  Reclaiming Disk Space

The Bitcoin White Paper: Reclaiming Disk Space and Simplified Payment Verification (SPV)

Continuing in the series of YouTube episodes where Dr. Craig S. Wright and Ryan X. Charles discuss the Bitcoin white paper line-by-line, we arrive at the part of the discussion addressing multiple subjects. Both Reclaiming Disk Space and Simplified Payment Verification are talked about including a few other informative topics that sprung up.  

Syndicate