Quote:
Originally Posted by MATT111
This is not entirely correct. Rakeback used to be different back in the day. You did not even have to be involved in the pot to get a share of the rake back. Sitting at the table and folding was enough. So with that in mind, „rake contributed“ is just one of different possible models to give players back a share of the rake. So your argument, that calling STP rakeback is misleading, does not make much sense to me.
I kind of see the point, that it’s a promotion, but don’t see why regular rakeback would not be viewed as one as well.
The exact method of rakeback is immaterial. Yes, I'm aware of the "rake contributed" versus "rake collected" methods of computing rakeback, but the bottom line was that the term "rakeback" always meant you were getting some kind of end-of-the-month cash payment which would be related to the time you played.
Everyone understands the term "rakeback" to be a portion of the rake collected at the table being returned a few weeks later to the players who were in those games.
If you brought 100 experienced grinders to runitonce.eu, had them examine the front page, and asked them what they were expecting regarding the "51% rakeback" they were promised,
100 out of 100 would say that they were expecting a flat 51% of their rake paid back to them at a date in the near future.
This is highly misleading. Experienced players know what "rakeback" is supposed to mean, and Run It Once has changed the term in order to mislead people via marketing.
Again, this is a jackpot promo, not rakeback.
Let's look at the difference:
A jackpot promo:
- Comes from a pool of money funded by a portion of the rake
- Hits on an occasional frequency
- Rewards only a small percentage of total players when it hits
- Has huge variance regarding each individual player's return on it
- Can sometimes return huge to players who have barely played at all
Rakeback:
- Is returning rake collected at a later date to players at the table
- Goes to everyone who played on the site
- Is not tied to an infrequent random event
- Has very low variance -- it's easy to approximate based upon number of hands played
- Will never return huge to someone who has barely played
Which one sounds like it describes Splash the Pot more?
The big issue here is that not even the shadiest of shady card rooms ever had the nerve to advertise their jackpot promos as "rakeback". Not one. You just can't call a jackpot promo rakeback.