Originally Posted by anguila
I have been debating whether to post or not, and following Ansky’s advice I believe it’s something I should do.
Firstly, the disclaimer: I’m a 6-time SNE with 8M+ vpps.
How have I accrued such a big number of vpps? Well, playing SNGs. The last 2 years mostly hypers, both cash and satellites.
Have I made money pre-rakeback? No. Does that matter? No. Because the problem is that the games are raked way too high, no one can beat them pre-rakeback. And that’s where rakeback comes into the equation making the EFFECTIVE RAKE, which is the one that matters, lower. And therefore making the games beatable.
I can only speak of what I know best SNGs, but something similar to this may happen to other formats:
If rake stays the same in HS hypers, where the average reg WR is -0.5% and you take away SNE, most likely thing to happen is that games will die out over the not too distant future: as the average reg will go from winning 70k post-rakeback to breaking even post-rakeback.
Now I understand that it’s unfair for the best players to be actually the ones able to beat the games because they have SNE, while the others don’t. Along with the fact that deposits are slowing down, I am absolutely IN FAVOUR of remodeling the VIP system, but it needs to be done ALONGSIDE a rake reduction of some sort! (maybe also some “loseback” to recs or whatever)
I don’t want to dwell too much on the timing of the change. I think that has been covered already, they have absolutely no excuse to have brought the information forward in November, and ONLY because it was leaked by some own mistake, when we know that SNE is a 2 year program.
Poker is a game played with people so it gives you the opportunity to be successful if you are better than the rest. And the dream I had when I started playing was to move up and be able to become a professional. That dream comes from watching people play the highest stakes and believing that one day you may get there if you work hard enough on your game. If there are no high stakes, there is no dream.
And now people will say that then all you have to do is play the Spins and win in them. Which as of TODAY is possible, but if all formats of SNGs are dead, does anybody think that a 3-max hyper with no table selection and 5%+ rake is beatable when the SNG regs move down to Spins?
So poker as we know it would change into a different thing, one where the dream is to bink a 1M Spin and Go.
Now, maybe poker is dead and that’s just how it goes, but the real thing here is that Pokerstars was acquired by AMAYA who paid 5Bn. This company had no means to buy the company, but managed to incur in a gigantic debt that they now have to pay back. This means they are paying around 180M in interest only every year and paying back 500M/yr of the original debt. And this has to continue for the next few years.
So basically where I’m getting at is that even though it’s true that the ecosystem is changing and deposits to play POKER are not coming in as fast, AMAYA is still profiting even after taking out of the poker economy these massive amounts of money. So, having to hear them and their PR talk put the blame on the players that through hard work have managed to, first of all put them in the place they are, and secondly inspired a large number of people to come and play poker is absolutely disgraceful. I don’t know the exact figure that regs are taking from the game, but it pales in comparison with what they are taking.
I was always a huge Pokerstars fan boy, as some people like to say despectively, but we are obviously dealing with a different company altogether. I refuse to call them Stars anymore, they are Amaya and they are in the business of changing poker as we know it into a something different, where the expected money flow is not shared between the best players and the site, but just everything for the site. The word “house-games” sounds familiar?
Sorry for the long post, but for those of us who have devoted so many years to playing a game that we loved, I don’t think staying quiet while they kill it with their decisions is an option.
Cheers,
Javier