Mike ‘Timex’ McDonald To Kick Off Pokershares BettingJake Cooper | 26 Jan 2017
Many casino professionals go on to use their talents in their own betting enterprises. Now, highly regarded poker professional Mike ‘Timex’ McDonald has joined their ranks by creating his very own online poker venture, which has been named PokerShares.
PokerShares is a betting hub at which users can purchase stakes for any poker player and any given poker tournament. There is also a host of additional betting services on offer, which includes the ability to create prop bets, bet on other players and friends, and wager on almost anything to do with the casino game of poker. McDonald has combined elements of sports betting with betting on poker, and created what could be described as a hybrid wagering platform.
Drawing Inspiration from Sports Betting
McDonald revealed more about his new company in a recent Poker Listings interview. The pro player said that his site will furnish punters with lists of players upon which they can wager, and that the site will also accommodate users who make exclusive requests to bet on players not featured on the pre-prepared lists.
The ‘price’ of wagering on each player will depend on how many details PokerShares has on them – details that will be gleaned by the research and contacts utilised by the software.
With that said, the players the user can bet on are not involved in these transactions, which are made privately between PokerShares and the user placing the bets. As McDonald explained, there is no middleman between the seller and buyer, with the site acting as the seller. The action will unfold much as it would at a sportsbook, but instead of betting on a race or match, punters will be wagering on poker games.
Secure Transactional Processing A Priority
Users at the site will each have their own dedicated betting account into which their deposits will be placed and their winnings paid. McDonald has confirmed that secure transactional processing from Wiretransfer and Skrill have been granted thus far, and mentioned that he aims to integrate Bitcoin into the site as well.
He went on to emphasise that his new venture has already set aside a reserve to pay users in the event of large-scale wins, and that the enterprise would still be stable should several million-dollar wins need to be awarded.
The mark-up imposed by PokerShares on all of its transactions it estimated according to McDonald’s expertise in poker, with consideration paid also to the rates of winning, rakes, betting structures and the track records of each individual player.
Bets of All Types Accepted
Acting as McDonald’s partner in the venture is an equally accomplished high stakes online poker professional, Veron Lammers. As an example of the types of prop bets the site is currently accepting, McDonald mentioned bets such as which party will win the game of Brains vs Libratus AI.
McDonald concluded by stating that PokerShares is planning on “taking any bet” that relates to poker. He also noted that his partner and himself will be adhering strictly to the current betting laws, and will be operating as legitimately as possible. With betting no longer restricted to sport, and election and entertainment betting growing in popularity, it’s easy to see where McDonald has drawn his inspiration from for his new enterprise.