|The World Poker Exchange yesterday announced a new pricing initiative which could completely transform the $5.5-billion online poker industry. Called ‘No Rake Poker’, the World Poker Exchange plan poses a direct challenge to standalone poker rooms that do not have access to additional revenue streams. |
Currently most poker rooms obtain their revenue by making a rake charge from every pot, which can easily reach $10 to $25 per hour per player. Obviously, this can frequently prove quite expensive for the average player.
Under the World Poker Exchange’s ‘No Rake Poker’, the rake for both cash games and tournament play will be completely eliminated and rake charges will be refunded to players’ accounts at the end of each week.
WPE’s Managing Director Haden Ware said, “We’re fortunate to have a great strategic position, due to the extensive crossover between our sports betting and card room businesses. While no-rake isn’t an option for most companies, we’re confident that free poker will deliver major new traffic to our other businesses, including sports wagering, live betting, horse racing and casino wagering.”
According to poker professional Max Pescatori, 'For those of us who like to play high-stakes tournaments online, it makes no sense to play anywhere else. The savings will be huge.'