The domain game is serious business. Just ask Ehud Gavron, who just sold "wallstreet.com" to Players Sportsbook and Casino for US$1.03 million.
The Venezuelan online casino won the bidding at an auction for its rights this week. Bids started at $300,000, crawled to $500,000 and then rocketed to the $1 million mark. Several financial firms were said to have taken part in the bidding.
"I'm shocked that this kind of value exists for a domain name, but I'm overjoyed, too," Gavron told Wired News. Gavron, a 32-year-old in the ISP biz, owned the address (along with two partners) since 1994.
The execs at Players Sportsbook are just as ecstatic as Gavron and his partners. The domain will host a site in which players can wager on stock movements. Simpson Bay Limited, which owns Players, expects to make a return on the investment within six months.