Online poker startup to share its profits with players

profile image of bmr, which joined UltimateBet and UltimatePoker on Excapsa Poker Network, will return a 40% share of its profits to players\’ accounts, starting a brand new concept in online poker.

40% of the company is owned by a Gibraltar-based trust, which will distribute quarterly dividends to players depending on the number of “share points” earned playing online.

Share points are linked to tournament entry fees paid and the length of time and number of pots played.

Not only that, if a public offering takes place or the company is sold, players will also participate in the windfall.

“As online gamblers ourselves we want to give something back to our players, so it isnt just wagering for profit, but an investment,” said the company\’s CEO Lucan Toh.

The company\’s intention, he said, is to go public on the London Stock Exchange, “probably within a 12-month period.”

For now, PokerShare will spend between $5 million and $10 million to promote itself online, through print advertising in enthusiast magazines and via “viral marketing,” Toh said.