PokerShare.com has closed its doors to players in North America and Europe after just two months. Industry speculation surrounding the closure lays blame on the Excapsa network.
PokerShare.com introduced a revolutionary concept to the online poker world by offering players 40% equity share in the company's profits when it launched a few months ago. However, as of November 1, players began receiving emails informing them their account had been closed and they would be receiving a cheque with their balance from Excapsa in the near future.
PokerShare.com operated as a 'white label' version of UltimateBet, with both sites operating on the Excapsa network. Rumor has it that Excapsa ordered the shut down of PokerShare.com because the network's sites were not prepared to deal with such a successful venture. Apparently, PokerShare.com was pulling players away from other sites on the network, including UltimateBet.
PokerShare.com promised SharePoints to players who registered and played real money games and tournaments at the site. Shares were governed by the Poker Share Trust which owned 40% of the shares of PokerShare.com, meaning that 40% of profits generated by PokerShare.com were to be given to the Trust, which in turn distributed the money to the players every 3 months. Players signed-up to become beneficiaries of the Poker Share Trust when they opened a real money account at PokerShare.com.
Please see PokerShare.com for further details.