11th of August 2005
What do online poker rooms and the stock market have in common; besides both being a form of gambling? In both, performance and success often depend on perception and the ability to read tells.
When the news that game software developer CryptoLogic was set to loose one of their clients, Britan’s Betfair, their stock took a down turn in a hurry.
Betfair is planning on moving development of their poker software in-house, much to the chagrin of CryptoLocgic, who’s stock dropped 17 percent on the Toronto Stock Exchange, and 16.6 percent on Nasdaq. According to CrypotLogic statements, Betfair’s departure will not have a revenue impact in 2005, but will in 2006.
Betfair has not officially pulled business from CryptoLogic, and stock market and online poker players alike will have to wait to see what is in the cards.
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