Re: Betfair Poker leaving Crypto network in 2006 - market overreacts?
Yeah, I have to admit I bought some this morning at $18.5 or so.
Not only does poker only account for a third of revenue (although I'm sure it's probably growing rapidly in share), but betfair is obviously only a portion of poker revenue.
Maybe betfair will reconsider - how will players react when more than half of their opponents disappear when they cut from the network?
Also, considering cryp has about $6 in cash and zero dept, today's move cuts the enterprise value by more than 30%...a little over the top for sure.
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