The Run It Once online poker site is no more.
Phil Galfond’s online poker outfit has called in quits and it will no longer offer services to international players.
Even though the poker outfit was designed to compete with large players such as PokerStars, its existence in the international market is not an indicator of failure. The outfit is set to reinvent itself, albeit to U.S. players. Run It Once has been in existence since 2019 and ceased operations on Jan 3, 2022. The closure caught the poker community by surprise. According to multiple players, Run It Once sent an email announcing the intended closure on Dec. 30 and Phil Galfond reiterated the position later via a blog post.
Deducing from the blog post, Run It Once flew too close to the sun and hence couldn’t compete with established international poker powerhouses. Run It once started on a high note in 2019 attracting multiple high-profile players. However, in 2020, the traffic started to decline and hit rock bottom in 2021.
“Had I not made the mistakes I did, perhaps we’d have been able to grow large enough to stay in Rest of World markets and head towards the U.S. – I’ll never know,” he wrote. “I do have some regrets, but more than anything, now that I can add our experience to everything we already did well, I’m feeling optimistic about what we’ll be able to accomplish this time around.”
Also, the lack of high-profile tournaments indirectly contributed to the sharp traffic decline.
“With few new signups, our SNG traffic was underwhelming, and our cash-game traffic levels began to fall. With a break in the Galfond Challenges and our SNG Select campaigns falling short, among other things, our player acquisition efforts weren’t enough to outpace churn,” Galfond wrote in his blog.
According to Phil Galfond, the sharp decline in traffic was not the only factor that prompted the establishment to close shop. An opportunity in the United States also played a role in the closure.
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