1 Aug: I think almost all poker sites are using the wrong strategy, where my exceptions are Unibet, RIO to some extent, and Bodog to some extent. You need to look after new players to the fullest extent you can, while keeping the games fair.
The sites that are doing that don’t invest in acquisition (Unibet), are too small (RIO), or have somewhat dodgy practices (Bodog with table balancing, disallowed countries, dark gray markets).
If someone used the right strategy and invested revenue back into acquisition, I see no reason why they can’t get a double digit share of a > 1bn/year market. Ultimately, I see no reason why a site can’t overtake PokerStars either.
At Unibet, my predecessor, my team, and I, built that strategy, so I’m perhaps the person with the greatest familiarity with it. Now I have insights into what you need for minimum liquidity, ideas for streamlining a site, and improvements that one could make to that strategy.
I’ve advised one group interested in creating a site, perhaps there are others? Perhaps it would be worthwhile to try to raise funding and do it myself?