Subsequent to the FBI’s shutdown of the Big 3 US poker sites, the Merge Gaming Network announced that they are no longer planning to carry on with their contracts made with their existing US poker players. After the indictments issued by the US authorities and the FBI seizing domain names, the Merge Gaming Network has lost a big share of their US online poker players. The rake back system used by the Merge Gaming Network which captured several thousands of online US poker players into their websites will no longer be accessible from effect of the first of June.
In an attempt to explain how the rake back system functions, Kevin Hastings, a project manager at TOPS-Poker.org said that “”A rake back system is like a mini profit-sharing program that some online poker rooms use to stir up new business. Poker rooms make their money by taking what they call a “rake” from each pot, which is usually a few percent of the total bets up to a certain capped dollar amount. A rake back program is where these online poker rooms give VIP players a part of that house profit each month for every eligible hand or tournament that they were involved in,” he said.
In a few circumstances, the total rake could end up being a considerable amount with deep stack VIP’s receiving 50% or more of their support to the table’s rake back into their poker accounts at the end of the month. For instance, if a US online poker player wagers at tables where the pots average $100, their rake back payout at the end of the month could be accumulated to thousands of dollars.
When questioned about the rake back programs that were perishing, Hastings said, “This move by Merge Gaming is inspired by pure greed, plain and simple.” “If PokerStars or Full Tilt were still around, there’s no way that the Merge Gaming Network would try to jerk the rug out from under each player’s feet. Wasn’t picking up hundreds of thousands of additional poker players over the last three weeks enough for these guys?”
TOPS Poker also mentioned that the predominant share of US online poker players will not be hindered by this kind of modification as US poker sites like Lock Poker may have rake back programs to offer them. These offers are ideally only provided via associations or to VIPs who shell out a large amount of time and money playing poker in an exclusive website.