Internet poker stocks: know when to fold 'em

Internet poker stocks: know when to fold 'em - at Moneyweek.co.uk - the best of the weeks international financial media.

Poker has changed. No longer the preserve of whisky-sodden old men, anyone with an internet connection can set up an account and pit themselves against fellow enthusiasts from across the globe. And it's Americans who have truly fallen for the online-poker craze, accounting for more than 70% of all players, says Andrew Bary in Barron's. Drawn in by the huge success of TV tournaments such as the World Series of Poker, an estimated 1.7 million players are currently active, with an average of 150,000 people gambling each day, according to PokerPulse.com.

In total, more than 200 online poker sites generate $2bn a year in revenues, equal to 40% of last year's $5bn in Las Vegas. And Britain, too, has become a nation of gamblers, says Ben Wright in The Business. Research compiled by website 888.com, owned by Cassava Enterprises, a Gibraltar-based firm and one of two online gambling companies looking to list on the London Stock Exchange, shows that the number of Britons betting online has risen more than six-fold since 2003. Research by YouGov found that almost 80% of Europe's online players are British.

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