3 years of wait and they come up with a rake that is higher than on the infamous Stars.
Also you pay higher rake right now because you play guinea pig in a beta-software.
Whoever makes these decisions, I applaud you, those are
real good jokes, and it's not even April yet, I'm dying to see what you come up with on 1st.
Spare me the white-knight posts about effective rake. You are feeding the mouth that bites you and eventually eats you up. It's so obvious: the discussion over SplashThePot wouldn't even be here, if rakeback wasn't the oh-so-important carrot dangling before everyone's noses. Not writing brown noses, but you all have the mentality of a battered house wive if you are defending nice guy Phil and this money-grabbing scheme over this particular carrot. I will give you all the benefit of being exceptional good poker players desperately trying find a grinding opportunity, or else you would not be here. Every bad player quit ages ago. It's hard to quit something you are good at, you are excused.
Still you very well know that the games are not beatable with this kind of rake structure, hence you cling to rakeback and sign-up benefits like a drowning man to whatever he is thrown. But let that go for a second.
Imagine if you can and your Stockholm syndrome allows it: RunItOnce coming up with an actual poker room for the players, sporting 1% rake and 25% rakeback over STP, having the effective rake at 0,75%. You'd sign up in seconds. You'd tell your friends who moved on from wasting time and money because that room would sound really smooth, even if they just show up once in a while. You'd congratulate Phil on the genius solution how to distribute rakeback fair and at the same time creating action.
Your focus wouldn't be on rakeback flip or no flip, but on another poker goldrush - because suddenly a whole batallion of worse players suddenly start being break-even or even profitable and would come crawling out of the woodwork. And another batallion of players who
think they could be profitable now would join them in trying again.
You as the last good poker players standing right now certainly wouldn't mind the STP because you would actually have a winrate to gamble the STP preflop 6-way-allin.
And all of that would be a lasting much longer, because of an eco system where your NL20 stack isn't gone after 10 allins. Amazingly 10 allins raked 5% of 200BB with a 2€ cap-> that's a whole stack. No matter who wins. It's gone, directly into the pockets of the eloquent Mr. Galfond and silent associates. Generous Phil who will distribute half of it back, isn't that great. You have to be thankful for that! Rake will 25% better than on Stars. Wow. Much money! So profit!
I'm not saying any other poker site is better, but at Stars there are actually clueless players cashing in 20 bucks and one-tabling all evening one tournament while having a 1$ SNG or NL10 table open to spend the time. They have dumb money coming in. Stars has a very long history and made some costly acquisitions to have a semi-dormant player base of exactly those poor idiots. Other sites get fishes from sports betting or casinos.
All of that will never happen on RIO. Never ever. Give up your hopes to somehow be profitable. You won't. You will battle against other regs. Sure they might be bad, but then again they might not. They are anonymous after all, so you find out if the iron is hot by touching it. Definitely far away from what would be necessary to be profitable; after 10 more or less close allins another stack is gone the way of the rake dodo. Half of said stack you might see again, but then again you might not and bust another 10 stacks in a row to chase those juicy 15BB splashes 6way-allins. Oh and of course during that course blow the 11th stack for rake again. And suddenly and unexpected it's lights out faster than you thought because somehow your game is not profitable.
But fear not, variance isn't a butch at all, it evens out and you probably do get lucky every 6th allin on average and get to your well-deserved rakeback. Ah, not quite, the the rake from shoving 6 times is still gone somehow.
It's a miracle really how you never seem to win. Gosh, why didn't Phil come up with a solution for that one. It's impossible. If Stars can't do it and even Phil can't do it - it cannot be done.
Hey Phil I always liked you, I still like you, no hard feelings, was worth a try. As Squirrel said - one wonders how much in charge you really are and how much ROI is expected from you. Given how much everybody knows Stars is raking in and even Unibet poker revs more than 20mln per year. Only a fool would settle for a quarter of that. Right? Right?