| Posted by: bubbasbestbabe at June 15, 2006, 2:04 pm | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
Quote: Originally Posted by F Paulsson
Of course, they're not just holding your rake. They're also holding whatever funds you have at your site. I wonder how much interest a site like Stars or Party get from the collectively deposited funds they have.
Actually in a interest bearing account of just say 2 million dollars you are looking at an income generated of $100000. Now take the actual amount of money that is taken in at a site for the "held" rake, money in accounts, spin off sports bets and other little charges they have you are talking a lot of money. If they get enough players they don't need the rake.
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| Posted by: F Paulsson at June 15, 2006, 8:00 am | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
Quote: Originally Posted by energized
im guessing they pull a neteller move here..
they hold everyone's rake for a week or so.. build interest on it(in a bank or whatnot).. and then return it to you.
Of course, they're not just holding your rake. They're also holding whatever funds you have at your site. I wonder how much interest a site like Stars or Party get from the collectively deposited funds they have.
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| Posted by: ChuckTs at June 15, 2006, 5:55 am | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
I think the catch (as was probably previously mentioned) is that they'll switch back to a smaller-than-average rake and slowly bring it back up over a couple years - why make money solely on banking the rake and getting interest, then returning the %100 rake to their clients, when they can bank the rake and get interest aswell as do like every other site does and keep the rake?
I personally don't think they've got their money's worth in new customers with this promotion because it just sounds too good to be true...though i am considering taking a look
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| Posted by: Scorpius at June 15, 2006, 2:49 am | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
Hi all,
I just started playing at wpex two days ago, and here are some details of what I've found so far...
Most importantly, the rake: Yes, it seems we do get 100% of it back. In the cashier window there is an account button showing the normal balance, and a rake button showing how much you've earned so far in rake (this gets updated every time you get up from a table). I started playing on Monday, which was the day where everyone got paid their rake. A lot of players were totally elated as they typed away in the card rooms.
As for my own rake so far, this is the end of my third day of playing, and I've accumulated over $120 in rake so far. This is from playing 3 tables at a time, which is the max they allow right now for multi-tabling (I actually sent them an email asking for the ability to have at least 6 tables being played at a time). I've also played over 10 hours each day, mostly at $25NLH, $10NLH, and $50PLO/8 (I had to start my own plo game, but people show up and the... | | Read Entire Entry |
| Posted by: Fish at June 14, 2006, 7:53 am | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
Quote: Originally Posted by robwhufc
Fish, have you played there?
Yes. Still do.
Quote: Originally Posted by robwhufc
I've seen posts on other forums saying it's a load of shite with ultra tight players
It has a lot of 'ultra tight' players,but they are certainly beatable.
Quote: Originally Posted by robwhufc
(or bots),
That ranks right up there with "rigged". = not worth commenting on.
Quote: Originally Posted by robwhufc
antiquated interface,
so? It still works.
Quote: Originally Posted by robwhufc
crashing software,
Name me a site that hasn't crashed before.
My rebuttal to whatever site you name = "WRONG"
a
Quote: Originally Posted by robwhufc
nd incorrect refunds (i.e not all your rake is actually refunded).
Nope.
Quote: Originally Posted by robwhufc
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| Posted by: robwhufc at June 13, 2006, 4:05 pm | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
Fish, have you played there? I've seen posts on other forums saying it's a load of shite with ultra tight players (or bots), antiquated interface, crashing software, and incorrect refunds (i.e not all your rake is actually refunded). From the horses mouth, is it any good?
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| Posted by: buckster436 at April 6, 2006, 12:30 pm | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
Quote: Originally Posted by robwhufc
THEY say it's because this offer will generate a lot of revenue for their associated gambling sites (get ready to be spammed to hell). But I think this sentance is odd "Each week, we will simply tabulate the total amount of rake that you contributed (including tournament fees), and return 100% of that amount to your account". Why not simply not charge fees and rakes in the first place? I smell a minimum refund limit, or some such clause.
The other possibility is that they will get a large sign up with this deal, and then be "forced" to introduce a rake / fee at a later date.
I totally agree, i smell a rat here, like you say rob why not simply have no charges in the first place, somethings up with this, it dont sound good. buck
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| Posted by: robwhufc at April 5, 2006, 2:37 pm | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
THEY say it's because this offer will generate a lot of revenue for their associated gambling sites (get ready to be spammed to hell). But I think this sentance is odd "Each week, we will simply tabulate the total amount of rake that you contributed (including tournament fees), and return 100% of that amount to your account". Why not simply not charge fees and rakes in the first place? I smell a minimum refund limit, or some such clause.
The other possibility is that they will get a large sign up with this deal, and then be "forced" to introduce a rake / fee at a later date.
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| Posted by: DESSERTLADY at April 5, 2006, 2:32 pm | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
Originally Posted by ChuckTs
what do you guys think the catch is?
Quote: Originally Posted by Dorkus Malorkus
The catch is that soon it will become the toughest site on the net as players who care about rake (i.e. not donks) migrate there.
That is a good possibility DM! Or the site is struggling to begin with and will be gone within a year from going broke.
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| Posted by: Dorkus Malorkus at April 5, 2006, 6:51 am | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
Quote: Originally Posted by ChuckTs
what do you guys think the catch is?
The catch is that soon it will become the toughest site on the net as players who care about rake (i.e. not donks) migrate there.
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| Posted by: ChuckTs at April 5, 2006, 4:49 am | | Topic: WPE's "NO RAKE" - or "rake refund" rather Forum: Card Chat |
Dear World Poker Exchange Client:
World Poker Exchange is about to turn the online poker industry on its head. Starting today, we'll be completely eliminating the rake from the real-money games in our poker room, regardless of table limit or game type. This makes World Poker Exchange the world's only enue where it's completely free to play poker-and yes, that includes tournament play as well.
The house rake is poker's silent killer, and depending on how much you play you could be losing hundreds or even thousands of dollars a month. Use our handy rake calculator to see how much money you've been leaving on the table.
To start receiving the benefits of No Rake Poker, just sit down and start playing. Each week, we will simply tabulate the total amount of rake that you contributed (including tournament fees), and return 100% of that amount to your account. As before, you can transfer funds seamlessly between your poker account and sportsbook account at any time.
W... | | Read Entire Entry |
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