4. Rake free Poker (WORLD POKER EXCHANGE)

[kestrel]

Has anyone seen this: http://www.wsex.com/poker.html

This is taken from the site:

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It seems to good to be true—how can we offer no-rake poker? Why aren’t other sites doing it? What’s the catch? The answers are actually quite simple.

Most online poker sites have a single revenue stream: collecting upwards of 5% out of every winning pot. In today’s growth-driven industry, it’s simply impossible for them to reduce, let alone eliminate, their single source of income. World Poker Exchange, however, has many sources of revenue, including World Sports Exchange, one of the most successful sportsbooks on the Internet. We’re confident that no-rake poker will deliver major new traffic to our other businesses, including sports wagering, in-running betting, horse racing and casino wagering.

Now, with 100% of the rake being rebated to your account every week, you’ll only have to worry about outfoxing the other players at your table, rather than having to beat the house as well. This will give all our players a much greater opportunity to achieve a net profit at the tables and will allow them to save hundreds, if not thousands, of dollars a month. We can’t think of any better way to mark World Sports Exchange’s tenth year in business.

When you realize that this is not too good to be true, you won’t want to waste your money at anyone else’s tables.

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Downloaded the software and there seems to a fair bit of action.
The hands are still raked but it you are refunded at the end of the month.

Looks like a Paradise Poker skin.

Could this change a thing or two in the world of online Poker???

[JoeStimpy]

This is very interesting, have to see how it turns out. Last year (or maybe it was the year before?) there was a site called ZeroRake which ended up bombing despite a great business model from the player's perspective. They charged a flat monthly fee (something around $20-30 / month I think it was) and gave you your first 6 months free.

Of course they couldn't offer deposit bonuses and I think as a result they never really took off, I played there for awhile until the traffic completely died off. I don't think most casual players realize the HUGE amount of rake they pay so go for bonuses over something like a better rake scheme. This is simply a misunderstanding of how quickly the rake adds up, I've only played 11,000 hands this year all at low limits of 1/2 and 2/4 and have paid $962 in rake! 30, 40, 50, heck even 100 / month in a flat fee sure looks attractive.

Anyway hopefully, this will really catch on and force other sites to lower their rake or go to a subscription service.

[Nutjob]

[jrspm]

It seems that something is missing from this explanation. The only reason I can think for them charging a rake then refunding it (other than to demonstrate the benifits of playing rake free) would be that they either couldn't afford, or couldn't be bothered to convert the software they are using.

Both of which trouble me.

In addition, what would the CS and service be like for something which isn't generating revenue (not including the extra spin off business)

[Najart]

Possibly the reason they keep the rake for a certain time period before refunding it is so that they can earn interest on it in the meantime.

[JoeStimpy]

[torch]

Here's the problem with a rake free site - only good players will play there.

Bad players are completely oblivious to the rake, so offerring no rake is not a draw to them. It is only a draw to smart players.

I wouldn't want to play a site that only has smart players...

[JoeStimpy]

[Fumseck]

I think rakefree wasan idea of Dutch Boyd. He intended to have a fixed monthly fee for players (or hourly, can't remember).

[wade]

[Nutjob]

Hmmmm. Well, if it's true and they look at their accounting after giving back LOADS on rake rebates, methinks it might come to a screeching halt.

Soooo, if it's on the up-and-up, take advantage whilst you can.

[SOMEDAY]

is this site pt compatable?

[ikeee]

thanks for the link, will download and see what its like today

[kestrel]

I haven't deposit yet, but I play at 0.50/1.00 and the average pot sizes were around $7-$8 (which is very high).

I guess at the moment they wil bring in quite a few players. But whether or not it can last is another matter.
With no revenue, they are hardly likely to promote the Poker room. They have even discontinued their affiliate program for it. There will certainly be no bonuses, which is what attracts most players.

I have also heard that Yahoo will provide rake free Poker if legislation changes in that favour.

[ikeee]

Not bad, 06:11ET and theres 700 players, also a few ring games going.

got a calculator on the sign up page that will work out how much you save per month playing here, this is the example it has showing

Game Stakes : $3/ £6
Tables played simultaneously : 1
Time per week : 12hours
Hands playes per hour : 60


Money saved per month $498.96 ?

if this is ture them I can see this filling up soon...