- Large player traffic
- Above average quality of games
- Social, recreational player focused
History of LiveAce
LiveAce opened on August 14, 2013. It only lasted about three months. LiveAce closed on December 19, 2013. All subscriptions were canceled and refunded.
Lessons Learned from the Failure of LiveAce
Several operators have tried to fill the void in the U.S. online poker market since UIGEA and Black Friday with a legal alternative. Every single one has failed. It does not matter if it is a skill-based product, sweepstakes or subscription. None of these ideas have taken off. LiveAce was no different. Players did not like the idea of playing on a subscription site like LiveAce. It failed to draw and players so it failed.
The lesson learned here is that investors should not bother with these types of poker sites. They are forced to exclude too many states and players are not interested. Players should also be reluctant to try these products due to the 100% failure rate.
What LiveAce Was Like
Players needed $19.95 to join LiveAce. There was a monthly renewal rate of $19.95. There was also a free plan that gave players enough chips to play at the lowest limit tables. There was little traffic at LiveAce. Players would sit at cash games with the 1,600 monthly chips awarded each month or the top-offs provided to those that fell below 400 chips. All tables were cash games. There were no tournaments or sit and gos.
Players were forced to use Dwolla or checks for banking transactions. This included deposits and withdrawals. LiveAce would hold a $500 auction Sunday through Thursday and $1,000 on Friday and Saturday each week. Players would bid using chips from the tables to turn into cash. Players would pay about 55 chips for $1. This showed how much money LiveAce lost. Players that only received the first 1,600 chips were already sitting on a stack worth $29. That is $9 more than the initial buy-in.
Where Are LiveAce’s Components Today?
The brand LiveAce was retired. There is nothing on its website today. The software was never used again. All signs of LiveAce have been erased from the internet.
Scandals Related to LiveAce
There were no scandals related to LiveAce with the possible exception that players with small chip balances were unable to withdraw.
LiveAce Failure Player Impact
LiveAce refunded all subscription fees. Some players with small chip balances were unable to convert them into cash.
Related Failed Sites
Timeline of Events
2013LiveAce opened on August 14, 2013.
2013LiveAce closed on December 19, 2013.
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When did LiveAce close?
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