In the wake of Full Tilt Poker's plethora of woes, it appears that some online poker websites are benefiting from the poker giant's problems.
After the U.S. Department of Justice came down on poker giants like Full Tilt in April, some poker websites have taken a large hit in revenue. However, it appears that larger brands have seen increases in new players and deposits. To contrast the difference between large and small poker brands and the effects of Full Tilt's legal woes, Playtech's iPoker Network saw a drop of 33% from 2011 to 2010 while gambling giant William Hill's poker revenues were up 11% in the same period. However, Playtech believes it has bright future ahead for the online poker market and cites positive factors in its outlook.
Management at the iPoker Network said this: “The international poker market continued to be subdued for the first four months of the year, but then experienced a seismic change with the indictment of a number of leading US-facing operators in April. There has been considerable change in player activity and deposits following the subsequent suspension of the licence of the second largest poker operator (FTP), as players sought to move their accounts to other operators.
“The clearest beneficiaries of this move have been leading operators with notable brands who have enjoyed considerable increases in new player deposits.
"Overall, the iPoker network has seen a material increase in activity as the poker market has become more balanced. In particular, our tournament volumes have been significantly higher in recent weeks and with the launch of Italian cash games in July there has been additional positive sentiment and activity.”