We Don't Want No Stinkin' Rake
Thursday, April 27, 2006
We Don't Want No Stinkin' Rake
Having discussed the World Poker Exchange in a previous post last week, I finally pulled the trigger and signed up through them this past weekend. I had just been knocked out of a Titan Rio SNG on the very first hand and needed some busy work away from the felt to settle my nerves, so I figured signing up for a new poker site would do the trick.The sign-up process was very easy and I was on the felt in no time. Most of my bankroll is tied up at other poker sites, and I only had $58 in my Neteller account, so I ended up depositing that amount. My thoughts were, since this was not a bonus whoring promo, I could deposit a smaller amount to give the site a test drive before I add more money. When I am bonus whoring I like to deposit the maximum I can handle so I can take advantage of the bonus offer, but this was one of the few times I didn't have to worry with that.
Though there are a few things I don't like about the site, I must say I am rather pleased so far. The biggest negative so far is the traffic. The most I have ever seen on the site is about 1400 players, and the least was hovering around 700. Not so goot. However, at the stakes I'm currently playing, I've been able to find 2 - 4 tables available consistently. If you are looking to play something other than hold'em, however, expect there to be little to no traffic.
One of the biggest positives has a correlation with the negative above. They are offering tons of guaranteed tournaments that almost never reach the guaranteed payout (read: overlay). On the night I signed up, I played a $1000 guarantee $10 + $1 tournament that only had 69 entries. Though I did not make the money, I was particularly happy with the overlay. I've watched other guarantees they offer and have seen the same thing. They had a $1500 WSoP Satellite for $30 that only had about 40 players signed up. Damn.
The thing about great overlay, however, is that eventually the site has to increase traffic or the guarantees go bye-bye. On top of that, when you are offering a guaranteed prize pool AND offering 100% rake back, you really have to start getting traffic or those things become costly.
The biggest positive for the site is what I briefly mentioned in the above paragraph. Folks, they are reimbursing 100% of your rake back to you each week, whether cash game or tournament fee. That is just wild to me. If you have a great week at the tables, the rake back is gravy. If you have a tough week at the tables, the rake back is a safety net. And again, we're not talking about 30% rake back here people, we're talking 100%.
I'm slightly torn about what I have just written. On the one hand, I would love to see the overlay remain at the tournaments, because they are just so damn juicy. However, I know that if things remain the way they are, the No Rake gig will not last because it will cost them too much money. Therefore I urge you all to go check out the World Poker Exchange if you are looking for a new site. I'm not pimping them for referral business, I just think you should check them out.
I am for serious busy today so I'm going to have to cut this post a little short. If you are still looking for something to read, check out
these two posts if you have not done so already. I rather enjoyed them.Follow-Up Thoughts From My Previous Post:
None
Big Ups To These Fine Folks Who Left A Comment In the Last Post:
drewspop
bloodyp
drizztdj
fastpitch27
gcox25
edit
After reading over my post I wanted to make one thing clear. I realize a few of our fellow broggers put food on the table via paychecks from fine establishments that depend on rake to pay the bills. I was not suggesting you supplant your poker play with this site, but rather offer it as another option. Those fine establishments pump out a quality product and platform, which makes it worth the rake to play on their site. There, I just wanted to get that out.
/edit
posted by TripJax @ 3:09 PM,
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