JETSET POKER CLOSURE

Submitted by Erik Smith on Tuesday, January 15, 2013 - 10:38

JetSet Poker was an innovative online card room that showed remarkable insight into how to develop player experiences already at an early stage, long before the online poker boom. Unfortunately, the company ran into financial difficulties, and eventually closed down with an incredible five-minute notice.

JetSet Poker was an ambitious online poker venture, initiated by Brett Scharf in October 2003. Scharf’s had a vision of an online poker platform that used some of the most innovative technologies of the time to create a unique poker experience for early online players.

JetSet Poker among other things used very animated software and understood the value of freerolls to attract players early on. As the site developed, it would soon include a variety of poker games in its offering, including Texas Holdem, Omaha, Seven Card Stud and PaiGow. Among other features were emotional statuses and a full range of 58 different animated avatars. JetSet was also a pioneer in offering tournament leader boards and bounties on selected multi-table tournament players.

Despite JetSet Poker’s innovative take on online poker, it would soon run into financial problems. As of 2006, JetSet Poker operated with a loss of almost half a million dollars, and the company was experiencing serious cash flow problems.

When the UIGEA was introduced in 2007, the company remarkably saw an opportunity to close down, and used the legislation as an excuse to finally shut down for good.

The manner in which JetSet Poker shut down is still a cause for wonder to many. On October 12, at 11.55pm, the site announced via a popup notice that the platform would close within five minutes. At midnight that same day, JetSet Poker seized to exist.

JetSet Poker did not have a massive player base, and player deposits at the time of closure are estimated to have reached little more than $100,000. Still, very few players have ever received their funds back upon the abrupt closure.

In November 2007, the last chapter in the history of JetSet Poker was finally written, as the company filed for bankruptcy in California. The software and eight game servers were later sold for $15,000. The company that bought the assets by a group that today operates Cardroom.com.