Joined: Mar '12
Location: United Kingdom
Age: 45 (F)
Posts: 2261
By chance I came across this piece of news and thought I would share it with you. I saw that Devilfish poker are trying to raise £100k on a crowdfunding website where you can invest in a poker site on the Ongame network for as little as £50.According to the info the business did make money(£500k in2010) under the old management but then things went downhill for some reason. If any mobsters want to get involved the info is here https://www.fundingtree.co.uk/pitches/view_pitch/upn00001119
Joined: Mar '12
Location: United Kingdom
Age: 45 (F)
Posts: 2261
£100k is probably just over $150k but it says you can invest small amounts.The thing I wonder about is why go to the general public instead of just asking some poker stars to invest?
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
it's actually a very shrewd move if it pays off that is- the point of getting random dudes investing small amounts of cash is that they will feel part owners of the site and will be motivated to play there and even refer friends to the site. not saying they will succeed, but a nice attempt imho.
Joined: Mar '12
Location: United Kingdom
Age: 45 (F)
Posts: 2261
I have just noticed that the 100k is for an equity of only 10% in the business so I suppose there will be lots of other investors involved. If you only invested a small amount it could be fun to be involved in a site and you never know.....Pokerstars could buy them up for a few hundred million in a few years.
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
You have better chances of making money if you deposit the same amount in a poker site and try our luck. Not a good time for new sites. And if they try to open that way, you can imagine the most probable scenario here.
No respected business would risk it's profit by mentioning that practicaly Average Joe from the street could become their valued shareholder, they just need some cashflow, pls invest - and doing this without an IPO launch. It's either not a good business opportunity or they are just a decorated ponzi scheme.
Joined: Feb '15
Location: United Kingdom
Age: 58 (M)
Posts: 7
Hi all, I am involved with Devilfish and we will be launching in April, just like any company when raising some working capital it may offer shares and this is just that, the only difference being that it is an online poker room. We thought it was a good way to give anybody a chance to be a part of the company (and at the same time a little publicity wouldn't hurt), Dave likes the fact that a rec player might get involved, we are also just finalising a comp to send a lucky player to Vegas with the Devilfish himself and play in the WSOP. Anyway, I am not here to 'Plug' just to say that if anyone has a question, I am happy to answer it. Thanks for taking the time, andy
Joined: May '13
Location: Mauritius
Age: 32 (M)
Posts: 2688
Yeah will pass too smaller site need some time to adapt first in the market, that is what i look on about new sites hope they do well and join when they booming not me joining when they just started and going through the hassle and hoping they pay and so on, anyway good luck with your challenge hope you do well and find what you are looking for, cheers have fun me need more mob points busted yet another roll on sports betting, getting silly now!
Joined: Feb '15
Location: United Kingdom
Age: 58 (M)
Posts: 7
Thanks, but not just started, Devilfish has been going since 2005, it was purchased by new owners and the site closed last year when the Play2b network went down.Players were always paid etc. We didnt want to just re-launch for the sake of another online poker room, we have chosen the network carefully and I believe it will be a major network with immense traffic next year. Dave is a great guy and would only be involved if the players were treated correctly and given great value. So we will launch in April and our existing players and hopefully new players will have the chance to benefit, so maybe see you there, soon!
Joined: Mar '12
Location: United Kingdom
Age: 45 (F)
Posts: 2261
Hi Andy,......Thanks for replying..... I don't really know much about these crowd funding sites but I thought it was a chance for lots of smaller investors to get involved.Is this the plan for the 10% equity offered? I saw that some crowd funded sites,for example,artists or bands,would acknowledge their investors with concert tickets,signed paintings,chance to meet,etc.Would you involve your investors in this way or is it just a small share percentage?
While you are here,just one small query with your funding page,you describe Texas Hold-em poker as..... "a game of luck mixed with skill....." really?
Joined: Feb '15
Location: United Kingdom
Age: 58 (M)
Posts: 7
LOL, easy one first, no, I didn't describe Hold'em that way, that was some geeky accountant person at Funding Tree,the platform the share offer is on, have asked for it to be changed actually. I was dealing the game in casinos in the late 80's so have a bit of knowledge of the business, but hey, we all know what the game is about here, so don't see their statement as a problem really.
With regards the fundraising it is in exchange for equity (shares), the minimum investment is £50, we didnt set that, the company operating the funding platform did, my step daughter even had a punt as she said it was a bit of fun and interesting (also she thinks she will be my boss as a shareholder, which is technically true). We dont give tshirts but Dave Ulliott thought it would be nice to send anyone that did buy-in a signed copy of his book, which was nice of him.
Thanks for the replies and such - but you see the problem here is reopening a site which wasn't particularly popular nor generated a huge amount of traffic in the first place is won't make me run for my credit card to buy your shares. As Heskor said, you would want to join (or invest into) sites which are booming (or at least have the ability to be big later) and not just paying 4 a zillionth online poker room (even one with history) to begin their cycle. Best of luck though.
Joined: Feb '15
Location: United Kingdom
Age: 58 (M)
Posts: 7
That is fine, I am not here punting the site, just answering any questons, you see I love the game and the business and been a member of forums such as 2+2 for years, forums do have members who voice apathy and knock everyone and everything to do with the game, so didn't want that to start without offering to answer questions if there were any. I am not asking you to take out your card. The fact is though the site was very popular and at one time did generate a lot of traffic and as a business was very successfu, but of course that was in the past. However, we think we have a niche model that will work, we have been promoting grassroots poker in the UK with Dave and the brand for many months before we launch and our ethos is about the players, so thank your for the best wishes and we hope we can make even a little difference. The number of poker rooms is in fact important for poker ecology, as long as those rooms are operated honestly, just like liquidity is important to a poker room,players need choice and if we can do something that players enjoy and want to be part of then that is surely good forthe game. I am just looking forward to being back at the WSOP this year with at least a couple of lucky people who have won their chance to be there with the Devilfish and play in a tournament thanks to the launch promotion.
Edited by andypow65 (19 February 2015 @ 23:35 GMT)
Joined: Mar '12
Location: United Kingdom
Age: 45 (F)
Posts: 2261
I have never played at Devilfish poker before but as a small site it did seem to be successful and appeared to make money. If someones wants to invest in a larger site then I don't think you will get far with a couple of hundred quid but as andypow says if you want to have some fun and be involved in a new business/poker launch then for a less than the price of a dinner at a nice restaurant it is possible. I have seen a lot of poker rooms fall by the wayside in the last few years but some small sites do survive.If the only sites we have to choose from are owned by 1 or 2 massive owners it will be the player that loses in the long run. I have to admit I thought it was a gimmick to begin with but after looking into more details it does sound like an interesting opportunity.
Joined: Feb '15
Location: United Kingdom
Age: 58 (M)
Posts: 7
Totally agree with you Klash23, think it is a great punt for a little layout, how many people can sit in a pub/bar and say 'I actually own shares in an online poker room' and fingers crossed our plans work and later they can say 'my shares in an online poker room have done well'.
But knowing Dave Ulliott the way I do the Annual General Meeting for shareholders should be fun and for £50 you could be there. Mmmm, wonder if there will be a poker tourney that day.....? Lol
you allway's lose money and the big guy's spend it 
