Online poker site with no rake.

Lafortezza

World Sports Exchange
www.wsex.com (not a bogus link, that's their genuine site.)

Small site that is offering poker rake-free. They take the usual amount of rake from each pot, then you get your rake back at the end of the week.

"Dear World Sports 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 venue 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. If you have a World Sports Exchange account, you already have a poker account as well.

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. You can transfer funds seamlessly between your sportsbook and poker accounts at any time.

We believe poker should be a fun, free service available to all our customers, rather than a means to "rake" them over the coals. With the advent of No Rake Poker, World Poker Exchange is now the only place where it truly pays to play. "

2+2 thread

Another

and one more

Ollieboy

I was just thinking about this the other day, the sites must make a fortune on interest alone and than if they use there site for advertisement, it wouldn't need to charge rake.

Ste05

*ahem*

I think I predicted this just the other day. :cool: :cool: Tribeca RB discussion thread

ocallagh

anyone know of a bonus code?

RoundTower

Ste05 wrote:

*ahem*

I think I predicted this just the other day. :cool: :cool: Tribeca RB discussion thread

Those online poker execs really are hanging on your every word...I thought you were just trying to impress me when you told me that.

Ste05

RoundTower wrote:

Those online poker execs really are hanging on your every word...I thought you were just trying to impress me when you told me that.

LOL, finger on the pulse....

Imposter

This is going to ruin online poker! There'll be nothing but shoddy software and below par customer service from now on. You mark my words!!

Culchie

It doesn't say if this is a full term committment. There was less than 700 players there when I just checked there now (most of them play money), I wonder is it for a brief period of time, sort of like a sign up bonus, just to attract players.
If they had 10000 players, and the huge revenue that they would bring in, would they keep the rake free policy, I just can't see it.....unless it was a condition that the rebate is used as 'credits' against sportsbook betting.... or maybe in the future the rake free poker room will be offered as a 'perk' to the high rollers on the sportsbook.

Ollies point - advertising.
Problem with this is that once you download your software, and put a desktop icon on your pc, you very rarely (if ever) visit the website again, so there wouldn't be enough traffic to operate a advertising revenue stream only site.

It is an interesting development however, and it is something the likes of betfair (who always win with commission, rather than risk) that this business model could very easily fit....if rebate was to be issued as bet credit.

jacQues

lafortezza wrote:

Small site that is offering poker rake-free. They take the usual amount of rake from each pot, then you get your rake back at the end of the week.

This is normal, to be expected, and following the global business model.

Remember when mobile phones were 500 Irish pounds each? A few years later they started giving them away for free (pay 80 euro for a phone with 80 euro call-credit).

The expected global business model shift for online poker is as follows:

1. Rake-free poker sites emerge.
2. Raked sites will announce donations (already happened; see 1% fund etc.) and simular promotions, in order to 'promote' their image.
3. A user-shift will happen (i.e. casual players on rake-free sites and serious players on raked sites)

Point 3 is understandable as on the long run rake-free sites will not have easy cash-outs, good customer service etc. Its the same as having a bill phone as opposed to a ready-to-go one. If you're job depends on your phone, you don't want to run the risk running out of credit.

jacQues

Ste05

jacQues wrote:

3. A user-shift will happen (i.e. casual players on rake-free sites and serious players on raked sites)

Point 3 is understandable as on the long run rake-free sites will not have easy cash-outs, good customer service etc. Its the same as having a bill phone as opposed to a ready-to-go one. If you're job depends on your phone, you don't want to run the risk running out of credit.

jacQues

What are you on about with this point??

In point 3 I'd actually think the exact opposite

Lafortezza

I think that with this World Sports Exchange site that their plan is for the poker side of things to be a loss-leader. They are under the impression that if they get alot of poker sign-ups there will be a big crossover to their sports-betting site. I'm sure they've done their research as to whether this will be profitable for them.
As to whether or not the poker will remain rake-free is debateable.

fixer

they are based in the bahamas somewhere, but their datacentre is based in Cork. they have a new betting exchange that is going gangbusters, so they aren't too concerned about lost income from rake. they were one of the first in the US offering online betting and have always been steady players. their poker site just started a couple years ago.

Samba

Hmmmm, very interesting, with so many clicks I think it will only be a matter of time before they come on themselves and give us a complete run down and logic behind their offer.

JoeyJJ

Culchie wrote:

Ollies point - advertising.
Problem with this is that once you download your software, and put a desktop icon on your pc, you very rarely (if ever) visit the website again, so there wouldn't be enough traffic to operate a advertising revenue stream only site.

They could build the advertisments into the software and make the user make a small update to the program weekly to change the advertisments.

Probably shouldn't have said that, although it would mean some hassle updating versions weekly.

Culchie

JoeyJJ wrote:

Culchie wrote:

Ollies point - advertising.
Problem with this is that once you download your software, and put a desktop icon on your pc, you very rarely (if ever) visit the website again, so there wouldn't be enough traffic to operate a advertising revenue stream only site.

They could build the advertisments into the software and make the user make a small update to the program weekly to change the advertisments.

Probably shouldn't have said that, although it would mean some hassle updating versions weekly.

I thought of that as well, that's what the gaming companies are doing (playstation etc..) for subliminal marketing, advertising etc...

Would cost a fortune to keep changing software for new advertising (at present)

ianmc38

Well I played some NL on this site last night. 500 hands at 2/4 and 200 at 3/6. I finished around even but turned a profit after rakeback.

1 thing i'll say is that i've never gotten so many bad beats in my entire life. I must have been done by 1 2 or 3 outers at least 10 times in that small data set, from some very fishy calls.

Example a guy called a bet for $200 on the turn (Pot was 200). Board was AK24 rainbow. I had KK. River was a Q. He had TJ.

Lafortezza

The accusations of rigged-ness, and bots and dodginess are flying on 2+2.

RoundTower

What's the next step? 110% rakeback?

Ste05

RoundTower wrote:

What's the next step? 110% rakeback?

No just a more competitive market for us consumers.

Culchie

RoundTower wrote:

What's the next step?

Probably a flat fee charge per month.... as per broadband rental (IMO:o )

Lafortezza

RoundTower wrote:

What's the next step? 110% rakeback?

An increase in Casino games running alongside poker.
I'm proud to say that I'm a career winner at Party blackjack.

Iago

http://www.bonuswhores.com/phpBB2/viewtopic.php?t=11930

Ste05

Iago wrote:

http://www.bonuswhores.com/phpBB2/viewtopic.php?t=11930

I think the guy that posted this on BW has kinda taken it back in the 2+2 thread.

playersare wrote:

anyway, if you ignore some of the exaggerated ranting at the top of the BW link originally posted, you see that there is some useful development (again, IMO) in the concepts at the end, and I added my analyses towards the bottom of the thread (you guys know my BW name, right? hint: it's not 'Guacamole'). ultimately the conclusion is these "strange" maniac players are theoretically beatable, and not worth an outrage. if it was a big deal then I'm sure we would have tried to take steeper measures with WPEX back in July 2005. but being a no-name site with a crappy contributed-raked hand bonus at the time, nobody really thought it was worth the effort. and beating these "weird" players didn't make up for better bonuses, rakeback and/or softer, more predictable competition at other sites, so I'm guessing most of us just left. that's why there was only one thread on the subject ever. because it simply wasn't a big enough deal at the time.

Iago

He hasn't taken it back, just said that there are bots but they're beatable...

If a site is employing bots then there's an increased likelihood that their RNG is strange and you could have problems with withdrawals etc.

Buyer beware and all that

Ste05

Are you talking about the BW thread (didn't read it all, just the first post) or the 2+2 thread??

Because certainly my reading of the recent 2+2 thread was that it's just the players play a different type of game (at limit) than he was used to. But there has still been some rumours about bots, I suppose it's just who you believe really. So as Iago says, buyer beware, although I personally wouldn't be too sorried about Bots.

But by the sounds of things over there, the Sportsbook this is linked to is a HIGHLY respected organisation, and I'd say the general consensus was that you can trust this site. There is an interesting theory (page 16 or so and on) where that this is the first step towards WSEX taking on the US government again - (they had already done so and won) to legalise On-line gambling in the US.

P.S. Anyone play here yet??

JoeyJJ

Those bots are hard to beat...

Ste05

Just downloaded the client to have a look at the traffic (not great only 900 players or so at the moment ) but I noticed there's a fairly savage overlay on their MTT's, they're nearly all guaranteed and don't seem to make enough players for any of them.