Isai Scheinberg - The Visionary Who Built PokerStars and Revolutionized Online Poker

Author: Tadas Peckaitis

Few men in poker history carry more weight than Isai Scheinberg. A visionary entrepreneur and software expert, he launched PokerStars in 2001, forever reshaping the online poker landscape. Thanks to his experience as a senior IBM Canada programmer, Scheinberg built a platform that would dominate the iGaming industry for the next two decades.

Yet, his greatest achievement might be his commitment to player trust and integrity. When Full Tilt Poker collapsed in 2011, Scheinberg and PokerStars repaid millions to players, reinforcing its reputation as online poker's gold standard.

Despite his influence, Scheinberg stayed private, letting PokerStars' success speak for itself. His impact was undeniable. Under his leadership, PokerStars became the largest online poker site and stabilized the industry.

Full Name

Isai Scheinberg

Net Worth

$4.5 billion

Source of Wealth

Business Owner

Famous for

Cofounder of PokerStars

Born

1946, Vilnius, Lithuania

U.S. legal troubles loomed, but in 2020, Scheinberg settled with a fine and no jail time. By then, he and his son sold PokerStars for $4.9 billion, securing his legacy in online gaming, significantly increasing Isai Scheinberg net worth. Although he has retired from the online poker business, he still plays live events, showing that his love for the game remains even after all this time.

Isai Scheinberg Highlights

Highlights

• Co-founder of PokerStars, the world’s largest online poker site
• Former IBM Software Engineer – Played a key role in developing industry-leading technology
• Grew PokerStars to $1.4 billion in annual revenue by 2010
• Paid $184 million to Full Tilt Poker players after its collapse
• Sold PokerStars for $4.9 Billion – His son Mark finalized the deal with Amaya Gaming in 2014
• Poker Hall of Fame Nominee – Recognized for his contributions, earning multiple nominations

Upbringing and Early Life of Isai Scheinberg

Scheinberg’s journey began long before online poker. Born in 1946 in Vilnius, Lithuania, he won Lithuania’s Math Olympiad twice. This passion led him to Moscow State University, where he earned a Master’s degree in mathematics by 23. Opportunities in the Soviet Union were scarce, especially for Jewish citizens, so in 1971, he and his wife emigrated to Israel, where he started his software engineering career.

An analytical mind led Scheinberg to IBM, a global tech giant. In 1982, IBM sent him to Toronto on a two-year placement, and by 1987, he had permanently settled in Canada and worked at IBM’s Toronto Research Centre. He helped develop Unicode, which enabled computers to process multiple languages.

Scheinberg fell in love with poker during this time, even competing in the World Series of Poker of 1996. In 2000, he left IBM to launch PYR Software. However, even though he believed he had created a game changer in the online poker industry, no existing online poker operator would license his software.

How Scheinberg and PokerStars Changed the Game?

After founding his company, he planned to license his software to live casinos online and sportsbooks, but the industry’s early players failed to grasp its true potential. Unwilling to take a bad deal, Scheinberg and his son, Mark, built their own platform.

A year later, PokerStars.com was born. Isai led software development from Toronto, while Mark ran gaming operations from Costa Rica. From the start, PokerStars distinguished itself with cutting-edge tournament software, allowing players to compete in large-scale multi-table events—something no other site had mastered.

In 2002, it hosted the first-ever World Championship of Online Poker (WCOOP), a groundbreaking series that redefined online tournament play.

Then came 2003, a turning point for online poker. Chris Moneymaker’s improbable victory at the World Series of Poker, fueled by ESPN’s televised coverage, thrust the game into the mainstream. PokerStars seized the moment and became the world’s largest online poker site.

Over the next decade, it signed up tens of millions of players, hosted millions of tournaments, and generated over $1 billion in annual revenue, solidifying Scheinberg’s position as a poker pioneer.

The Visionary Who Refused to Fold

As PokerStars became the go-to platform for online poker, Isai Scheinberg remained its guiding force. His mastery of poker and software gave PokerStars an edge, making multi-table tournaments its signature feature. Meanwhile, PokerStars expanded globally, securing licenses in Italy, France, and the UK.

But while the company thrived, the U.S. government took notice.

In 2006, the Unlawful Internet Gambling Enforcement Act (UIGEA) targeted financial transactions related to online gambling. Some competitors, like PartyGaming, immediately left the U.S. market. Scheinberg, however, took a different stance. He firmly believed poker was a game of skill, not gambling, and that PokerStars should be exempt. Instead of retreating, he saw an opportunity.

With fewer competitors, PokerStars dominated the market. This aggressive approach, however, came at a cost. On April 15, 2011— poker’s infamous Black Friday —the U.S. Department of Justice cracked down. Authorities seized PokerStars, Full Tilt Poker, and Absolute Poker’s U.S. websites and froze their bank accounts. Authorities indicted Scheinberg for illegal gambling, bank fraud, and money laundering. But while other poker executives scrambled, Scheinberg remained composed.

Unlike Full Tilt, which was exposed as a mismanaged company unable to pay its players, PokerStars honored every player's balance, cementing its reputation for integrity. The legal battle raged on, but Scheinberg worked behind the scenes. In 2012, PokerStars struck a landmark deal with the U.S. government, acquiring Full Tilt and reimbursing its players, further cementing its dominance. Though the legal troubles forced Scheinberg to step away from the company, his legacy remained untarnished.

He had built the most trusted and successful online poker platform in history.

The Man Who Revolutionized Online Poker and Walked Away

For years, Isai Scheinberg confidently operated PokerStars, believing online poker should be treated as a game of skill rather than gambling. And while PokerStars reached a civil settlement with the U.S. government, Scheinberg himself remained a wanted man.

That changed in 2019 when Scheinberg was arrested in Switzerland while seeking medical treatment for his wife. Facing extradition, he eventually decided to fly to New York in 2020 to resolve the case. He pleaded guilty to one charge of operating an illegal gambling business, but thanks to his impeccable reputation, charitable contributions, and PokerStars’ financial integrity, he was sentenced to a $30,000 fine and time served—a far cry from the potential 30-year prison term he once faced.

With his legal battles behind him, Scheinberg closed the chapter on PokerStars and Black Friday. Though he no longer operates in the industry, his impact on online poker remains undeniable, as millions of players continue to enjoy the game he helped revolutionize.

"My felony conviction will haunt me the rest of my life. I recognize my failings. I wish that I could go back and make different choices."

Isai Scheinberg

Isai Scheinberg Net Worth and Wealth

Isai Scheinberg’s net worth remains largely undisclosed despite his role in building PokerStars into the world’s largest online poker site. Before founding the company, he earned a six-figure salary as a senior IBM programmer. By 2010, PokerStars was generating $1.4 billion in revenue and $500 million in annual profits, cementing its industry dominance.

In 2014, his son Mark Scheinberg sold PokerStars for $4.9 billion, and Mark’s net worth is now estimated at $4.5 billion. While Isai’s exact wealth is unknown, he has $374,190 in live poker earnings, including a $278,552 best live cash finish. But financial estimates tell only part of the story. Unlike many industry figures, Scheinberg has always avoided the spotlight, preferring to let PokerStars’ success speak for itself.

Where Is Isai Scheinberg Today?

After transforming online poker, Scheinberg turned to chess. A competitor at heart, he has shifted his focus from poker tables to chessboards, immersing himself in a game that captivated a new generation much like poker did in 2003. Chess is in his blood—his father, Matafia Scheinberg, played for Lithuania in the 1930s Chess Olympiad. Today, Isai proudly shares a book detailing his father’s games, complete with grandmaster analysis. But Scheinberg isn’t just playing chess—he’s shaping its future.

Alongside his son Mark, Scheinberg is a key investor in Chess.com, using lessons from PokerStars to help the platform grow. His decision wasn’t just about software—it was about backing the right people, valuing transparency, and ensuring a fair and engaging player experience, just as he did with PokerStars. Despite stepping away from poker's business side, Scheinberg hasn't left the game entirely. In 2024, he played in the WSOP Main Event in Las Vegas, chasing the bracelet he once dreamed of winning.

His impact on poker remains so significant that he has been nominated for the Poker Hall of Fame five years in a row—a testament to his lasting legacy.