warlight.net
it isn't exactly risk, it is both faster and better. turns all happen at the same time. there are two modes, real time and multiday. real time is played in real time and turns are usually anywhere from 2-10 minutes depending on what the settings are set to. with multiday you generally only have a couple turns a day. there are also tons more maps made by the community as well as the classic risk map if that is your preference.
it is pretty fun if you are looking for some strategy that is more varied than risk.
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