In the case of Ultimate Bet it turned out that it was an inside job, but the individuals involved didn't necessarily share in the long term profits of the company, so they were able to benefit personally to the tune of millions, while most of the negative effects landed on the company rather than themselves.
Thankfully in at least two other poker companies (hint: the largest one and its sister company) it was made impossible to see someone's hole cards before the hand is over, which is what allowed the cheaters at Ultimate Bet to perpetrate their con.
It's my pretty firm belief that when it seems like an entity is throwing away a pretty obvious economic self-interest, there's probably just a misunderstanding of where the economic self interest lies in the parties involved.
Thankfully in at least two other poker companies (hint: the largest one and its sister company) it was made impossible to see someone's hole cards before the hand is over, which is what allowed the cheaters at Ultimate Bet to perpetrate their con.
It's my pretty firm belief that when it seems like an entity is throwing away a pretty obvious economic self-interest, there's probably just a misunderstanding of where the economic self interest lies in the parties involved.