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Phil Galfond to Start a Poker Site (Launched) Phil Galfond to Start a Poker Site (Launched)

04-21-2019 , 04:31 PM
Quote:
Originally Posted by Jay Why
When the site opened I was going to deposit and play, but then I thought about Full Tilt Poker, and how it was also run by respected and trusted (at the time) poker players like Ferguson and Lederer who turned out to be crooks, and thought how could I be sure RIO isn't going to end up just as crooked.

The anonymous poker makes it impossible for any player to know that an insider is having unbelievable win rates, which would ring alarm bells.

And how could I trust Phil Galfond, from my view he seems 100% legit, but so did the Full Tilt guys.

And a persona is just that, a persona, it doesn't mean the real person is anything like how they project themself.

So I didn't deposit.
Kind of silly to talk about what happened ftp when rio holds mga license and imo you need to keep players funds segregated to get one. It's allso linked in this thread and most likely in rios tos.
04-21-2019 , 05:22 PM
Quote:
Originally Posted by KossuKukkula
Kind of silly to talk about what happened ftp when rio holds mga license and imo you need to keep players funds segregated to get one. It's allso linked in this thread and most likely in rios tos.
Yeah well, your post of ill informed opinionated speculation is kind of pointless.

The bottom line is the possibility of superusers is there, and looking at the malta gaming authority website there is nothing there about segregation of funds. And I don't recall RIO talking about that being part of their set up.

With the RIO site there seem more questions than answers, which is why I guess not many play there.
04-21-2019 , 05:31 PM
Quote:
Originally Posted by Jay Why
Yeah well, your post of ill informed opinionated speculation is kind of pointless.

The bottom line is the possibility of superusers is there, and looking at the malta gaming authority website there is nothing there about segregation of funds. And I don't recall RIO talking about that being part of their set up.

With the RIO site there seem more questions than answers, which is why I guess not many play there.
IMO I don’t think should worry so much about funds being safe

I just don’t think they should of started the poker room when it clearly wasn’t ready to start, but everything has taken so long so they just forced it

I mean ffs it’s in beta with clear bugs can’t even table resize with no other format then just cash , I don’t even mind the stp but don’t tell me it’s part of my rakeback, and to get it In some cases I need to flip my whole stack for it

For a lot of ppl the they will try it be turnerd off and never come back

Hopefully can hire some ppl that can get things going in the right direction, but at the pace things are going my outlook isn’t as positive as I hoped

And anon tables, I want to know what they are doing to stop colluding and bots
04-21-2019 , 05:36 PM
Quote:
Originally Posted by Jay Why
Yeah well, your post of ill informed opinionated speculation is kind of pointless.

The bottom line is the possibility of superusers is there, and looking at the malta gaming authority website there is nothing there about segregation of funds. And I don't recall RIO talking about that being part of their set up.

With the RIO site there seem more questions than answers, which is why I guess not many play there.
who pays you? there's plenty of valid criticisms (i've personally been critical of rio) but you're clearly a shill
04-21-2019 , 11:05 PM
What do u think about getting 25% rb from stp and 25% in cash. This way recs still get to have fun with stp but variance is decreased and game wont change that much?
04-22-2019 , 12:17 AM
Phil's biggest issue is that he didn't go to India or somewhere overseas to get better programmers who will work hard for the budget he has; he & his team has worked for way too long for such a mediocre product thus far; that only tells me they lack direction & work ethic.

The rakeback system isn't what most of us expected either; raising the rake per pot & adding some wierd rakeback system where you may or may not get alot of it back is not a concept that excited me & clearly alot of others.
04-22-2019 , 12:40 AM
Quote:
Originally Posted by tgiggity
who pays you? there's plenty of valid criticisms (i've personally been critical of rio) but you're clearly a shill
What an idiot you are. If I am clearly (to you) a shill, which site(s) do you reckon is paying me to discredit RIO? I am just a low stakes player with an interest in the poker scene.

What is interesting is the misinformation and complacency by the posters.

The thing that rang alarm bells for me is when I was offered a $30 bonus if I deposited $10, I thought if the site is that good why are they having to pay people to play there? So I have just chosen not to play there while it is sorting itself out.

It would be good if it is a success, is a proper challenger to Pokerstars near monopoly, and drops the unpopular and misguided anonymous players approach.
04-22-2019 , 02:28 AM
Quote:
Originally Posted by Exothermic
Phil's biggest issue is that he didn't go to India or somewhere overseas to get better programmers who will work hard for the budget he has; he & his team has worked for way too long for such a mediocre product thus far; that only tells me they lack direction & work ethic.

The rakeback system isn't what most of us expected either; raising the rake per pot & adding some wierd rakeback system where you may or may not get alot of it back is not a concept that excited me & clearly alot of others.
A rakeback is not supposed to excite a professional in the first place. Unless it's a Porsche or a stars hoodie from back in the day, man I loved those...

It's meant to be exciting for recs, which it seems to be.
A pro should care only about net rake and variance/payment plan rationally.

I'm still excited for Phil, if he irons out the issues, finishes the product and launches with a big announcement of sweeping rake decreases for smallstakes+ the site can have a future with STP.


I suspect that was his plan all along anyways as he said - overshoot rake given low marketing budget that doesn't funnel fish in, so he has leeway for free publicity when the final product launches, just watch.
04-22-2019 , 03:15 AM
a quote from Phil:
Quote:
I hope you’re excited about the rake and rewards numbers we’ve settled on, but if there’s any aspect of it that you think is unfair – a certain stake not seeming beatable or anything else out of whack – rest assured that if our data proves you right once we start operating, we will proactively adjust to something more fair, and you’ll hear about it from me – explanation included.
I think it's as simple as 2+2=4, your games don't run much you lower pricing. Or spend ****loads on marketing. I just hope for Phil's sake his programmers start fixing the known issues fast so the interest doesn't fizzle out before he makes that "official launch" that will come along the rake decrease announcement.
04-22-2019 , 07:30 AM
Quote:
Originally Posted by Jay Why
The bottom line is the possibility of superusers is there, and looking at the malta gaming authority website there is nothing there about segregation of funds. And I don't recall RIO talking about that being part of their set up.
https://www.mga.org.mt/support/frequ...ked-questions/

How are player funds protected?
The sub-section ‘Protection of Player Funds’ is clearly stated under the Gaming Player Protection Regulations.

Identifying the importance of player funds being kept segregated and remaining separately identifiable at all times whereby the Authority may, in its sole discretion, exercise viewing rights over the common account of player funds.


It seems you are not a smart person and need to tighten your hat made out of folio.

https://www.runitonce.eu/terms-conditions/

At the time of receipt of the first real money deposit on the account of the company, the company opens a ’real money account’ for the respective player. All amounts transferred to such real money accounts are held by the company in separate banking accounts on behalf of the player free of cost and interest, and form a distinct patrimony. In case of liquidation of the company, all and any funds held by the company on behalf of the player are protected from creditors’ claims in accordance with the Laws of Malta, and no creditors of the company shall have the right to satisfy their respective claims on such funds.

Last edited by KossuKukkula; 04-22-2019 at 07:55 AM.
04-22-2019 , 09:19 AM
Quote:
Originally Posted by JohnCleese
STP is a stupendously amazing idea and people will realise this in time.

People who adapt better will get >51% rb and and vice versa. The best at adapting can expect to get >100%rb.
STP concept is not a bad idea but in my opinion all rakeback/EV through STP is just way too extreme. People are somewhat forced to gamble (VPIP) way too much since they think every STP pots are so important, and they sort of are –initial rake is just so damn high. Lets not forget that initial rake is 30-40% higher than on PS so thats not a good idea to play like a maniac but you kind of have to. Make it maybe something like 50% fixed rakeback + maybe 20% through STP and I can almost guarantee players would join the site and give it a go.
PLO equities run so close that you have to be a magician to make significantly more than 51% RB in 3-4 people multiway pots which happen very regularly, my estimation/opinion is that a lot of people make a lot less. Yes thats true that you can take advantage of their mistakes but thats exactly the same on all other sites.
04-22-2019 , 09:25 AM
Just surprised by a few reactions in the past 2 months, especially by people who don't want to make an income playing poker.

A few things that might change your mind:

1) Microstakes poker (PLO)
The difference between Pokerstars and Runitonce Rake for Microstakes PLO is insane. Rake is just so much lower for RIO, especially if you're streaming your games. If you're having any doubts that this isn't true, check out: https://www.twitch.tv/nutraisin , he's been doing a great job building a bankroll at PLO20 on RIO.

2) Anonymous games
As a pro, you lose your HUD edge. As a more recreational player, you benefit from that. As players don't have to be afraid of being berated on RIO, they make huge mistakes and play more how they "feel" like playing. Alltogether you won't get exploited nearly as much on RIO as on pokerstars, for playing 60/35/10 because it takes time for people to recognize that and you can always play shorter sessions too. (Reset is 4hours)

3) Support & funds being safe
You literally can talk to team RIO on Discord - this is not possible anywhere else in the same manner. Also, if you somehow end up comparing Fergusson/Lederer with Galfond for the security of your funds, have a little bit of trust in your ability to judge people.

4) Sitout Bugs etc
Yes, bugs are annoying, also to me. However, all this bug does is costing you 1BB when you've timed out / sitout for 12 minutes. You often forget that you also benefit from others being affected by this. It's not only you who posts 1 BB with a trashy hand

5) Splash the pot /RB
If you trust in your ability to play poker, you simply can't hate on STP. You will get a lot more from this feature than the average player, either by fighting for Splash pots harder or by benefitting from others who go overboard.

On the other hand, if you play poorly, STP might make you lose more. But isn't that what you want/say you want?

Think about it, how many times have you heard a player berate another player at the live poker table for doing something stupid. At RIO this just gets amplified by STP

6) Action
Yes, you're not getting the traffic as on bigger sites - how could it be? RIO is in Beta and just launched this year and is competing against sites that have been around for over a decade.

Personally, what I'm still missing is HH's - Seeing what you did in HM2 just benefits your learning a lot.
04-22-2019 , 09:29 AM
Quote:
Originally Posted by KossuKukkula
https://www.mga.org.mt/support/frequ...ked-questions/

How are player funds protected?
The sub-section ‘Protection of Player Funds’ is clearly stated under the Gaming Player Protection Regulations.

Identifying the importance of player funds being kept segregated and remaining separately identifiable at all times whereby the Authority may, in its sole discretion, exercise viewing rights over the common account of player funds.


It seems you are not a smart person and need to tighten your hat made out of folio.

https://www.runitonce.eu/terms-conditions/

At the time of receipt of the first real money deposit on the account of the company, the company opens a ’real money account’ for the respective player. All amounts transferred to such real money accounts are held by the company in separate banking accounts on behalf of the player free of cost and interest, and form a distinct patrimony. In case of liquidation of the company, all and any funds held by the company on behalf of the player are protected from creditors’ claims in accordance with the Laws of Malta, and no creditors of the company shall have the right to satisfy their respective claims on such funds.
Happy to correct your attack on me, I am sure you meant to say hat made out of foil, but as you can't proof read, anything else you say is equally unreliable.

As I say, it is funny how people are so complacent, your good self included. You are reassured by

the fact that the economic powerhouse Malta is governing this website.

The fact this body is saying it is important to segregate funds. Not demanding. Not enforcing. Just saying.

And they want to be able to see if it is happening.

If they look and see it isn't happening, then what? Nothing. After all, they say it is important, but there are no sanctions for not doing so.

And who would know if the funds are not segregated? Only RIO.

RIO's claims that the funds are kept separate is bogus, as the agency has no power to confiscate any funds.

It is all just smoke and mirrors to fool gullible people like you that the funds are segregated, and would be returned to players if the site went bust. It is people like you who let Ferguson and Lederer get away with their ponzi scheme, and who don't ask why the proven cheat Phil Ivey won spectacular amounts - $20m on the site he owned, that he never came anywhere near repeating on the other sites he played at, or live.

Hope your hat made out of folio fits.
04-22-2019 , 10:27 AM
Quote:
Originally Posted by Jay Why
Happy to correct your attack on me, I am sure you meant to say hat made out of foil, but as you can't proof read, anything else you say is equally unreliable.

As I say, it is funny how people are so complacent, your good self included. You are reassured by

the fact that the economic powerhouse Malta is governing this website.

The fact this body is saying it is important to segregate funds. Not demanding. Not enforcing. Just saying.

And they want to be able to see if it is happening.

If they look and see it isn't happening, then what? Nothing. After all, they say it is important, but there are no sanctions for not doing so.

And who would know if the funds are not segregated? Only RIO.

RIO's claims that the funds are kept separate is bogus, as the agency has no power to confiscate any funds.

It is all just smoke and mirrors to fool gullible people like you that the funds are segregated, and would be returned to players if the site went bust. It is people like you who let Ferguson and Lederer get away with their ponzi scheme, and who don't ask why the proven cheat Phil Ivey won spectacular amounts - $20m on the site he owned, that he never came anywhere near repeating on the other sites he played at, or live.

Hope your hat made out of folio fits.
Yes and the American government were the people who ordered the destruction of the Twin Towers and the death of thousands of fellow Americans.

You're off your head man.
04-22-2019 , 11:29 AM
Quote:
Originally Posted by Jay Why
Bunch of nonsense
Good god you are either one of those guys living in the bunker without electricity or a troll. And not a funny troll that makes people laugh you are just annoying and going to ignore mode.
04-22-2019 , 11:37 AM
Quote:
Originally Posted by Jay Why
What an idiot you are. If I am clearly (to you) a shill, which site(s) do you reckon is paying me to discredit RIO? I am just a low stakes player with an interest in the poker scene.

What is interesting is the misinformation and complacency by the posters.

The thing that rang alarm bells for me is when I was offered a $30 bonus if I deposited $10, I thought if the site is that good why are they having to pay people to play there? So I have just chosen not to play there while it is sorting itself out.

It would be good if it is a success, is a proper challenger to Pokerstars near monopoly, and drops the unpopular and misguided anonymous players approach.
yeah, a casual low stakes player didn't want a $30 signup bonus because it means the site is no good. wtf are you even rambling about dude? there's a dozen legitimate issues with the software/network, yet you choose to focus on:

-Phil Galfond was a poker player. Howard Lederer was a poker player and a scammer. Therefore, Galfond = Scammer
-They're giving me a free $20 if I deposit $10, oh noes how horrible
-There could be super users guys! I have no evidence or even speculation to offer, but there could be! that alone is enough
04-22-2019 , 12:08 PM
Quote:
Originally Posted by tgiggity
yeah, a casual low stakes player didn't want a $30 signup bonus because it means the site is no good. wtf are you even rambling about dude? there's a dozen legitimate issues with the software/network, yet you choose to focus on:

-Phil Galfond was a poker player. Howard Lederer was a poker player and a scammer. Therefore, Galfond = Scammer
-They're giving me a free $20 if I deposit $10, oh noes how horrible
-There could be super users guys! I have no evidence or even speculation to offer, but there could be! that alone is enough
Nice try to summarise, but inaccurate.

I am pointing out history shows just because someone is a well respected poker player does not mean they are actually reliable.

I had been offered $30 bonus, not $20, but hey, if you are so inaccurate about that, and the inaccurate summary of my view, then anything else you say is dismissable as ill considered and sloppy thinking.

People have not considered how the anonymous tables can benefit fraudulent insiders.

Posters here are like ballet dancers or gymnasts, taking on weird positions, that if I question RIO I must be a shill from another site, or your inaccurate points.

It would be good if there was transparency for this site, so you can see who you are playing against. Hopefully that is clear enough to understand, even for you.
04-22-2019 , 12:10 PM
Quote:
Originally Posted by JohnCleese
Yes and the American government were the people who ordered the destruction of the Twin Towers and the death of thousands of fellow Americans.

You're off your head man.
Don't worry, RIO's funds are being carefully monitored by Malta.
04-22-2019 , 12:14 PM
Quote:
Originally Posted by tgiggity
yeah, a casual low stakes player didn't want a $30 signup bonus because it means the site is no good. wtf are you even rambling about dude? there's a dozen legitimate issues with the software/network, yet you choose to focus on:

-Phil Galfond was a poker player. Howard Lederer was a poker player and a scammer. Therefore, Galfond = Scammer
-They're giving me a free $20 if I deposit $10, oh noes how horrible
-There could be super users guys! I have no evidence or even speculation to offer, but there could be! that alone is enough
+1 you're a clown if u think the free money offer somehow implies the site is not reliable. Ever heard of pokerstars? Yeah THAT pokerstars. Even they offer/offered this kind of bonus to new players.
04-22-2019 , 12:20 PM
Quote:
Originally Posted by Helllsreal
+1 you're a clown if u think the free money offer somehow implies the site is not reliable. Ever heard of pokerstars? Yeah THAT pokerstars. Even they offer/offered this kind of bonus to new players.
So boring, all these people making inaccurate personal attacks on me, I was saying more than that, and I am free to think there are unanswered questions about the security of the site's funds. Just as others are free to complacently ignore such questions and think it unfair to even doubt that ever so nice Mr Galfond.
04-22-2019 , 12:21 PM
Quote:
Originally Posted by Jay Why
Nice try to summarise, but inaccurate.

I am pointing out history shows just because someone is a well respected poker player does not mean they are actually reliable.

I had been offered $30 bonus, not $20, but hey, if you are so inaccurate about that, and the inaccurate summary of my view, then anything else you say is dismissable as ill considered and sloppy thinking.

People have not considered how the anonymous tables can benefit fraudulent insiders.

Posters here are like ballet dancers or gymnasts, taking on weird positions, that if I question RIO I must be a shill from another site, or your inaccurate points.

It would be good if there was transparency for this site, so you can see who you are playing against. Hopefully that is clear enough to understand, even for you.
your exact words:

Quote:
When the site opened I was going to deposit and play, but then I thought about Full Tilt Poker, and how it was also run by respected and trusted (at the time) poker players like Ferguson and Lederer who turned out to be crooks, and thought how could I be sure RIO isn't going to end up just as crooked.
don't try to walk it back now

you're a clown and bring nothing of substance to this forum.

your overall point is that some possibility exists that player funds are not secure. people have pointed out to you countless times why this possibility is much lower on RIO compared to other networks, even going as far as quoting from the regulatory body that governs RIO, yet you continue to babble about super users and how sketchy a sign up bonus is. you're either a terrible shill or a really dumb person, quite likely both
04-22-2019 , 12:27 PM
Quote:
Originally Posted by tgiggity
your exact words:



don't try to walk it back now

you're a clown and bring nothing of substance to this forum.

your overall point is that some possibility exists that player funds are not secure. people have pointed out to you countless times why this possibility is much lower on RIO compared to other networks, even going as far as quoting from the regulatory body that governs RIO, yet you continue to babble about super users and how sketchy a sign up bonus is. you're either a terrible shill or a really dumb person, quite likely both
Yes, the esteemed MALTESE regulatory body.

If you are happy with that level of toothless "regulation", then good for you.
04-22-2019 , 12:31 PM
Quote:
Originally Posted by Jay Why
Yes, the esteemed MALTESE regulatory body.

If you are happy with that level of toothless "regulation", then good for you.
I guess pokerstars is going to exit scam too according to that logic
04-22-2019 , 12:42 PM
Quote:
Originally Posted by tgiggity
I guess pokerstars is going to exit scam too according to that logic
You keep me running round and round, well that's alright with me, up and down, I'm up the wall, I'm up the bloody tree. That's alright with me, yeah, that's alright with me, well, it feels alight to me, yeah, it looks alright to me.

And, I'm so tall, I'm so tall, you raise me and then you let me fall. And I'm so small, I'm so small, wrap me round your finger, seen before. Here we go.

You keep me running round and round, well that's alright with me, Nothing, nothing, nothing's gonna Step in my way. Living on the ceiling, no more room down there. Things fall into place, you got the joke, fall into place.
04-22-2019 , 12:57 PM
Quote:
Originally Posted by Jay Why
Random rambling
Can't we all agree to just ignore this dude and return to actual substance? Thank you!

Here's a question to get the ball rolling: What are the 3 most pressing issue that needs fixing in your opinion?

For me it's 1) crypto support, 2) more innovative games and 3) bug fixes

      
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