Quote:
Originally Posted by TicKinTiMeBomB
This is what cracks me up you people dont see thru the fog. Do the math man for the required 2500! FFP. you realize they only charged 100ffp to get a free withdrawal. so they wanna charge us 25x that
Example is for hu:
2500FFP=5k rake taken when im at table, raking that much a week which would be nearly impossible given traffic. Even then if i did that i would get 36% in rb which would be 1800/2 would be 900 in rb. i can only get out 1k week. so im actually adding to the problem including winnings. i have zero issue with playing but 2500ffp is stiffin me and the other winning players.
lol at wanting me to generate 40k in rake to get my 8k already owed to me which i already generated rake for during my account runup. i have contributed more in rake overall to networks lifespan than almost everyone in here so please STFU ppl about playing and yes i understanding different "owners". yea intertops didn't benefit at all besides the fact i have an intertops account also and generated lots of rake their over the years along with liquidity i provided on my cake/juicy stakes SN's to let their customers have someone to play to put rake in their pocket.
Hi
When we took over Juicy Stakes on October 9 2013, we didn't get any money for existing account balances. Why didn't we get any money? Because there was no money and that is why no withdrawals were processed 1,5 to 2 years previous to our take-over.
At the time you had roughly $59,000 on your account. During the months of October, November and December 2013 you withdrew $12,000 whilst raking $1,200.99 (this money came out of our pocket). On these $1,200.99 you got 36% rakeback ($432.35).
In 2014 we kept on paying you roughly $36,500 whilst raking $32.57 (this money also came out of our pocket). On these $32.57 you also got 36% rakeback.
The rake generated before our take-over has nothing to do with us and neither did we get anything from that rake.
As stated before when we took over Juicy, we spent millions of dollars so that we could offer withdrawal options to the overwhelming majority of players. But, there is only so much money you can pour into a company: this meant the only way we could take over Juicy Stakes in the first place would be with the long term plan of building up our site to have a healthy ecology and then using the rake from that to pay the high stakes players - all profits that are raked are going towards paying out players.
The reason that these players are being asked to earn FPPs is that we need to acquire higher levels of rake to be able to pay back these higher balances which our the previous owners could not cover and we inherited. The process does take a long time, but doing it any other way would be impossible for us. It’s a Catch-22, we could either do it this way or we wouldn't be able to takeover and Juicy Stakes would still be offline. I don't mean that to sound like "it's us of nothing" but that was the case and we are here to offer a really positive future for the site.
To answer your above comment, if you rake $5000 and you are on a 36% rakeback deal you get $1800 in rakeback payments and not $900.
Juicy Stakes uses the ‘Dealt Rake’ model which means that any player will be included in the rake calculation for any hand that the player has been dealt cards in.
All players that are dealt cards at a cash game table will earn 1 FPP for every dollar raked during that hand on that table, even those players that have not contributed to the pot in that hand.
Example:
There are 9 players at a cash game table and all of them receive hole cards. Six of the players fold pre-flop and do not contribute to the pot at all. The other 3 players play the hand and the rake at the table gets to be $3. These $3 in rake for this hand on this table will give all 9 players 3FPP each (rakeback players get 1.5 FPP each) even those who folded pre-flop.
This means that for $3 in rake 27 FPPs were given out in this hand if all players were non-rakeback players (9 players each get 3 FPPs). This gives us an average FPP value of $0.11 ($3 rake /27 FPPs = 0.11).
With this calculation 100 FPPs = $11 in rake (100 FPPs x $0.11 = $11), 2500 FPPs = $275 in rake (2500 FPPs x $0.11 = $275)
In tournaments players get 7 FPPs for every $1 in tournament fees they pay (rakeback players get 3.5 FPP).
Example:
If a non-rakeback player registers for a tournament with a buy-in of $20+$2, the fee is the $2 and the player will receive 14 FPPs ($2 fee x 7 FPPs = 14 FPPs). This gives us an average FPP value of $0.1429 ($2 rake /7 FPPs = 0.14286)
With this calculation 100 FPPs = $14.29 in rake (100 FPPs / 7 FPPs = $14.285), 2500 FPPs = $357.125 in rake (2500 FPPs x $0.14286 = $357.15).
We have so far processed withdrawals for over a thousand accounts and the 2500FPP restrictions have only been applied to a handful of these accounts. The restrictions have been applied to those accounts because of the huge balance and not contributing to the network ecology.