PokerStars Launches New Betting Exchange

You don’t have to be a fan of online casino poker to have heard about PokerStars.

In the booming world of gambling, this brand is about as ubiquitous as it gets. And if they didn’t need to boost their profile any further…

…they’ve just made some serious waves in the industry with the release of their new peer-to-peer online betting platform, which they’re calling the PokerStars Betting Exchange.

Whether or not you’re already a fan of the game of poker, you’ve probably seen materials from his company already. Their ments can be seen just about everywhere, and their spokespeople include some of the biggest names of the sporting world.

International superstars such as Usain Bolt, Rafael Nadal, Aaron Paul, Christiano Renaldo, and Neymar all have relationships with the famous digital cardroom…

…in fact, gamblers can even play with them at high-stakes events!

What’s more, this company boasts international footprint. Any way you look at it, this is a firm at the top of its game that continues to make news.

Now, together with their parent company Flutter Entertainment, they’ve turned their focus towards bolstering community among its patrons.

Let’s take a closer look at this fresh offering!

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What is the Exchange?

To put it simply, the new Betting Exchange provides an online space for players to buy and sell independent bets directly with other individuals, all over the world, in real time.

The company claims to be premiering this offering for two reasons. According to Richard Garrod, Director of Product:

“We’re always looking at ways to bring PokerStars players something new, and to be able to do that in collaboration with our colleagues over at the world’s largest betting exchange is a huge privilege.” 

The second reason? To take advantage of the already existing, shockingly large community of sports bettors, and increase the sense of camaraderie among the extant customer base.

One can also reasonably expect that the advent of the Exchanged is also designed with some amount of corporate profit in mind. But regardless of their motivation, the question the gambling community needs to answer is:

Is this worthy of my time, and my bankroll?

Why Use the Exchange?

There are so many advantages to this approach, it’s difficult to list them all!

For one, the Exchange generally offers players better odds than traditional sportsbooks, since the wagers are placed directly against one-another, with little or no overhead. And better odds mean far superior opportunities for profits!

Another major plus to this approach is the chance for players to “be the bookmaker.” A gambler can just enter their own odds, and if another player chooses to accept them, the bet is on!

There is flexibility within this approach, too. There are options for gamblers to place lay bets (betting on something not to happen) as well as back bets (betting that it will happen).

The scale of the enterprise also offers major advantages. This site shares liquidity with the world’s largest sports betting exchange, Betfair which ensures plenty of action – both in of access to markets and in of other players to bet against.

Finally, it’s worth noting that all of these options will be available centrally, using the same and wallet that existing customers already use. The opportunity to access the immense diversity of these betting possibilities in one place is a major advantage.

The exchange is available at both the .com and .eu sites under the Exchange tab via PokerStars Sports.

Any Red Flags?

While this company enjoys a generally strong reputation, it is not without blemish.

One notable case involved a massive lawsuit with the US State of Kentucky. Over the time period of 2007-2011, when online poker in the United States was in a kind of legal gray area, the State brought suit against PokerStars to reclaim poker losses by its residents.

Things got messy, with several appeals of judgments won by both sides, and disputes on everything from the amount of money lost (the company claimed to have made $18m from Kentucky residents during this period; the state claimed a figure closer to $200m) to the appropriate legal precedents (the State used a 225-year-old law to bring their suit). At one point, the Kentucky Supreme Court awarded a damages payment of a jaw-dropping $1.2b!

In the end, the two sides settled on a payment of $300m.

Obviously, gamblers should always pay close attention to the legal standing of online gambling in their home region and take care to follow all local and national laws. Furthermore, the issue of a state-level lawsuit regarding poker shouldn’t give any individual player a second thought when choosing whether to use this new betting exchange.

Still, it’s good to that, no matter the strength of the marketing materials or the level of celebrity enjoyed by the corporate spokespeople, online gamblers should always keep both eyes open before placing any wagers.