Pool cues don't use felt. Pool cues should have a pressed leather tip. Break and jump cues are sometimes given a synthetic tip, such as phenolic, but these are not legal under many tournament rules.
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The felt surface of a billiard table may be the result of the Gorina fabrics company.
Technically, it is not felt, although this term is used to describe the fabric. Felt is not a woven cloth, while the billiard table fabric is a woven wool that is technicall y referred to as baize.
This material is specifically designed and developed for pool table use by many different fabric manufacturers. Each type that is available is different in some way and is chosen for the way the balls act and react on the surface and for lifespan of the cloth.
It is not known when the types of fabrics now in use were developed. However, one of the first manufacturers of billiard table cloth is Gorina - they began in 1835. Very likely, this company was responsible for the billiard table felt we use today, though they are not credited with its invention.
If you're the type of player that likes to work the cue ball around the pool table, then a soft tip is what you should play with.