Rakeback: The mid life crisis of online poker
Posted on January 27, 2010 by John Trevors for Luckyroom.com
Is poker rakeback the term that has doomed to set the online poker industry to an end? The term speaks out for itself and if you are anywhere half oriented with internet poker you will realize in that in simple English the term means exactly what it states: Rake + Back;
It is only realistic to say that new poker rooms trying to find their position in this competitive industry have raised their game to where thay cannot sustain the heat and what this has resulted in is spoiling players with too much returned to them in hope that the actual poker rooms would have the future potential to depreciate the value of all this bonus money given back to players in the long run.
What they haven’t thought about it is who was to be paying the bill at the end of the day; because it’s clearly one thing attracting customers (players) to your business and its an exactly other topic making your customers support your business by making it a profitable entity.
This post comes to no disrespect to poker players searching to sign up for rakeback but it does note and point out why this term has come today to be the word which site owners cannot sustain to hear as it is costing them their business entities in a whole, due to a very short term thinking strategy which has haunted them to the very end and eventually is doomed to force them bust. New poker networks have feared the increasing competition and have felt the need to sustain a position against PokerStars or Party Poker or any other large poker network with attempts to flatter players by giving them more than what they could really afford; Rakeback.
Well what happens when you come and withdraw the term and the concept from your network; only fair to say that poker players go back to where they originally came from as in reality they never played at your network because you were too good to be true; but because what you offered them was to good to be true.
After all the noise, the acquistions, the shutting down and the merging business running in this industry it is only fair for us to criticize the running of million dollar operations through concepts which are causing them their future.
In favor of not deviating from the actual topic: It has been announced that ipoker players with accounts qualifying for rakeback have already or are in the process of getting closed down and accounts at Boss Media participating skins are soon to follow as players seem to receiving more than the actual sites can afford after expenses to return to players for their participation at the tables.
You might say why? Well thinking about it only for 1 sec you will realize that rakeback is the most capitalistic term ever introduced to online poker as it is a term that clearly favors winning players and pays them back more for their ability to wipe away fishy players in resulting to keeping them alive for enough time to manage to be overall breaking the balance of fish Vs sharks at the tables.
After yesterdays and today’s announcements that small poker sites are being forced out of the industry at major European facing poker networks due to their incapability to drive non winning players to the tables; the question of who has been making the mistakes arises? Is this a fault of the poker rooms which are today being confronted with a padlock on their business or was the overall concept not well thought when they were invited on board to their hosting networks?
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