The ultimate bonus: WSEX is doing 0 rake

[cryomeariver]

I've been bonus whoring for sometime, but this is a first. Got this email this morning (No, I don't work for them):

Dear World Sports Exchange Client:

World Poker Exchange is about to turn the online poker industry on its head. Starting today, we'll be completely eliminating the rake from the real-money games in our poker room, regardless of table limit or game type. This makes World Poker Exchange the world's only venue where it's completely free to play poker-and yes, that includes tournament play as well.

The house rake is poker's silent killer, and depending on how much you play you could be losing hundreds or even thousands of dollars a month. Use our handy rake calculator to see how much money you've been leaving on the table.

To start receiving the benefits of No Rake Poker, just sit down and start playing. If you have a World Sports Exchange account, you already have a poker account as well.

Each week, we will simply tabulate the total amount of rake that you contributed (including tournament fees), and return 100% of that amount to your account. You can transfer funds seamlessly between your sportsbook and poker accounts at any time.

We believe poker should be a fun, free service available to all our customers, rather than a means to "rake" them over the coals. With the advent of No Rake Poker, World Poker Exchange is now the only place where it truly pays to play.

Best Regards,
World Sports Exchange
www.wsex.com (http://www.wsex.com)

In the past I've played there during the weekends or when big games are on to take advantage of a less sophisticated poker clientele. The games have always been very fishy.

From their website:

No Rake » How Can We Do It?

It seems to good to be true—how can we offer no-rake poker? Why aren’t other sites doing it? What’s the catch? The answers are actually quite simple.

Most online poker sites have a single revenue stream: collecting upwards of 5% out of every winning pot. In today’s growth-driven industry, it’s simply impossible for them to reduce, let alone eliminate, their single source of income. World Poker Exchange, however, has many sources of revenue, including World Sports Exchange, one of the most successful sportsbooks on the Internet. We’re confident that no-rake poker will deliver major new traffic to our other businesses, including sports wagering, in-running betting, horse racing and casino wagering.

Now, with 100% of the rake being rebated to your account every week, you’ll only have to worry about outfoxing the other players at your table, rather than having to beat the house as well. This will give all our players a much greater opportunity to achieve a net profit at the tables and will allow them to save hundreds, if not thousands, of dollars a month. We can’t think of any better way to mark World Sports Exchange’s tenth year in business.

When you realize that this is not too good to be true, you won’t want to waste your money at anyone else’s tables.

[big dummy]

They offer a 20% to $100 first time deposit bonus, but it looks to be tough to clear at small stakes NL. 15 "FPPs" per dollar, awarding .5 FPP per .50 raked pot, and 1 FPP per $1 raked pot. FPPs rewarded only to players who contribute to the pot.

Based on my Party NL stats, the $100 max bonus would take 30,000 hands to clear at $25NL and 20,000 hands at $50NL

Still, no rakeback looks nice...

[IggyWH]

Anyone get an answer yet on how the rakeback works? Is it the normal Party way, is it split between people who contributed to the pot or is the person who won the pot...

[UATrewqaz]

For such a small site they seem to have nice software.

Hopefully they can become a big player with their rake free program (probably not but I can dream)

[Will.]

what's the code for that?

[sonartec]

Is an extensive thread in Internet about this

[Barrin6]

[ QUOTE ]
They offer a 20% to $100 first time deposit bonus, but it looks to be tough to clear at small stakes NL. 15 "FPPs" per dollar, awarding .5 FPP per .50 raked pot, and 1 FPP per $1 raked pot. FPPs rewarded only to players who contribute to the pot.

Based on my Party NL stats, the $100 max bonus would take 30,000 hands to clear at $25NL and 20,000 hands at $50NL

Still, no rakeback looks nice...

[/ QUOTE ]

15x clear rate. You might want to check your calculations. Take in consideration that this is 100% rakeback, they pay you at the end of the week. 100% rakeback is something much better than bonuses.

" * For games with stakes of $2/$4 and above, and all PL & NL games:
1 FPP for each raked pot of $1.00 or more
1/2 FPP for each raked pot of $.50 to $.99
* For games with stakes of $1/$2 and under:
1 FPP for each raked pot of $.50 or more
* 5 FPP for each $1 in tournament entry fees (e.g., 10 FPP’s

[big dummy]

[ QUOTE ]
[ QUOTE ]


Based on my Party NL stats, the $100 max bonus would take 30,000 hands to clear at $25NL and 20,000 hands at $50NL


[/ QUOTE ]

15x clear rate. You might want to check your calculations. Take in consideration that this is 100% rakeback, they pay you at the end of the week. 100% rakeback is something much better than bonuses.


[/ QUOTE ]

I agree that rakeback is great, just thought I'd save someone the calculations on the bonus.

15x Clear, but only in $1+ raked pots (30x in $0.50 raked pots), and only then when you've contributed to the pot. In my case, it works out to 1 FPP per 20 NL$25 hands and 1 FPP per 14 NL$50 hands. That's a lot of hands...

No code on the bonus. Apparently, it's added to any 1st time deposit.

[Sponger.]

The good news is you'll get $1600+ in rakeback during your 30,000 hands at $25nl.

But yeah, I agree, that bonus SUUUUUUUUCKS! OMG!

[chicagoY]

Why would they do something like this though? What would be the motivation? Marketshare only?

[d-baggery]

[ QUOTE ]
what's the code for that?

[/ QUOTE ]

you don't need a code, they have done away with their affiliate program for obvious reasons. The deposit is automatic, like Stars, you don't need a code when depositing.

[IggyWH]

[ QUOTE ]
Why would they do something like this though? What would be the motivation? Marketshare only?

[/ QUOTE ]

Get you to spend money in their real money-maker, their sportsbook. Also, bring in new people.

[Jeoke]

If its 100% rakeback why do they collect the rake? Is there a requirement to reach before you can get your rakeback?

[d-baggery]

I think they only collect it so it looks like they are giving you money. Thats how the noobs will see it.

[UATrewqaz]

It's probably easier to collect/distribute it later it than recode the software to not collect it... maybe.

Or as others have pointed out, if you don't charge it at all, people don't notice $1 here and there

However getting a lump sum payment has a bigger "wow look at all that money" effect.

[gilbert]

[ QUOTE ]
[ QUOTE ]
what's the code for that?

[/ QUOTE ]

you don't need a code, they have done away with their affiliate program for obvious reasons. The deposit is automatic, like Stars, you don't need a code when depositing.

[/ QUOTE ]

what about for new players? i'm about to make an account.

[jschaud]

noobs are much more likely to put a c-note on the game if they are getting a lump bonus and not just loosing less over time.

[Jimmy The Fish]

[ QUOTE ]
They offer a 20% to $100 first time deposit bonus, but it looks to be tough to clear at small stakes NL. 15 "FPPs" per dollar, awarding .5 FPP per .50 raked pot, and 1 FPP per $1 raked pot. FPPs rewarded only to players who contribute to the pot.

Based on my Party NL stats, the $100 max bonus would take 30,000 hands to clear at $25NL and 20,000 hands at $50NL

Still, no rakeback looks nice...

[/ QUOTE ]

For full-ring low-limit players, both $1/$2 and $2/$4 earn an FPP at 5 BB ($10 and $20 pots respectively). $2/$4 tables earn half a point for a $10 pot.

Even at 15x, it doesn't appear to be a difficult bonus. Especially if you're getting all your rake back... /images/graemlins/grin.gif

[gilbert]

i didn't have time for the bonus, i just went ahead and deposited.

the bonus sucks anyway.

[Dennisa]

[ QUOTE ]
If its 100% rakeback why do they collect the rake? Is there a requirement to reach before you can get your rakeback?

[/ QUOTE ]
Cause if you never log back on after hitting the felt, WSEX will probably garbage fee back that last week of rake. Possibly fine print that says they do not give the rakeback until you log back in the following week.

[HesseJam]

This site needs to be pimped. I would love to play on a rake-free site.

[HesseJam]

I am signing up. Anybody who wants to split my referral (you'll pay me via Poker Stars), please pm me.

[poker_n00b]

downloading....

[Hellmouth]

Is there a casino bonus? It might be easier to clear than the poker bonus.

Also playing 6 max would make the bonus much easier to clear since you contribute on the blinds 1/3 of the time regardless.

Greg

[Hellmouth]

Do PT and PAHUD support this site?

Greg

[Swen]

[ QUOTE ]
Anyone get an answer yet on how the rakeback works? Is it the normal Party way, is it split between people who contributed to the pot or is the person who won the pot...

[/ QUOTE ]

I opened the Livechat and get this information:
"Kamaria : as long as a rake is taken from the hand that you are dealt into that will be considered"

So dealt hands /images/graemlins/cool.gif

[PatInTheHat]

How many people on this site at peak times roughly?

[UATrewqaz]

Probably about 3 times as many now as this time last week (still low...)

[d-baggery]

[ QUOTE ]
How many people on this site at peak times roughly?

[/ QUOTE ]

1200-1300. This seems low, and it is, but the games are good.

[Arnfinn Madsen]

[ QUOTE ]

1200-1300. This seems low, and it is, but the games are good.

[/ QUOTE ]

Seems like they are counting logged in players (not sure though) instead of actual seats used. So it is not comparable to Party/Stars etc. which inflate the numbers by counting the same player many times.

[big dummy]

[ QUOTE ]
[ QUOTE ]
Anyone get an answer yet on how the rakeback works? Is it the normal Party way, is it split between people who contributed to the pot or is the person who won the pot...

[/ QUOTE ]

I opened the Livechat and get this information:
"Kamaria : as long as a rake is taken from the hand that you are dealt into that will be considered"

So dealt hands /images/graemlins/cool.gif

[/ QUOTE ]

Web site (http://www.wsex.com/poker/promo-menu.html#fpp) explicitly says that you must contribute to the pot...
"Note: In order to earn an FPP at the above levels, players must be dealt into the hand and must have contributed to the pot. No points are awarded for pre-flop folds."

Can anyone who has played there already tell us what they're doing with FPPs?

[d-baggery]

[ QUOTE ]
[ QUOTE ]

1200-1300. This seems low, and it is, but the games are good.

[/ QUOTE ]

Seems like they are counting logged in players (not sure though) instead of actual seats used. So it is not comparable to Party/Stars etc. which inflate the numbers by counting the same player many times.

[/ QUOTE ]

good point, I didn't think about that.

FPPs can be used to buy in to tourneys.

[Sponger.]

[ QUOTE ]
Web site (http://www.wsex.com/poker/promo-menu.html#fpp) explicitly says that you must contribute to the pot...
"Note: In order to earn an FPP at the above levels, players must be dealt into the hand and must have contributed to the pot. No points are awarded for pre-flop folds."

Can anyone who has played there already tell us what they're doing with FPPs?

[/ QUOTE ]

Entry into cheapo freerolls

[Overdrive]

[ QUOTE ]
Why would they do something like this though? What would be the motivation? Marketshare only?

[/ QUOTE ]

Simple, money.

This is a MUCH better model than the other rake free sites that tried to make players pay a monthly fee and all that nonsense. All they have to do is collect the rake, put the money in the bank and make interest on it, then at the end of the week give the players all their rake back, and the site gets to keep the interest money they earned on the rake.

It's a god damned work of art I tell ya /images/graemlins/cool.gif

[POKhER]

[ QUOTE ]
[ QUOTE ]
Why would they do something like this though? What would be the motivation? Marketshare only?

[/ QUOTE ]

Simple, money.

This is a MUCH better model than the other rake free sites that tried to make players pay a monthly fee and all that nonsense. All they have to do is collect the rake, put the money in the bank and make interest on it, then at the end of the week give the players all their rake back, and the site gets to keep the interest money they earned on the rake.

It's a god damned work of art I tell ya /images/graemlins/cool.gif

[/ QUOTE ]

Would have to be a HEAP LOAD of cash though.... no?

maybe they'll spam us with 3984938443 adverts in few months /images/graemlins/grin.gif

[Emperor]

[ QUOTE ]
This site needs to be pimped. I would love to play on a rake-free site.

[/ QUOTE ]

Everyone should spam the chat at Party with this info!