Online gaming giant partypoker lowers fees in select real money internet tournaments.
Official communication from partypoker over the weekend confirms that the real money online poker service will “remove rake on the bounty element” from all Knockout events starting Sunday, May 6th — a date that coincides with Day 1 of the site’s $40 million guaranteed POWERFEST series.
Look at the size of these massive #POWERFEST Championship Events coming at you in May. There's 17 Championship events with combined guarantees of $18,760,000! https://t.co/r5unXuyogS |18+|Play responsibly|https://t.co/Qk1mEDhgYr pic.twitter.com/4LM4kqN8Zx
— partypoker (@partypoker) April 14, 2018
According to partypoker Managing Director Tom Waters, the decision to significantly lower rake in select Multi-Table Tournaments (MTTs) was made as a result of player feedback and lobbying efforts from site-sponsored player liaison Patrick Leonard.
“We will hold this policy for six months with the intention to make this a permanent reduction to our pricing structure,” said Waters in an April 14th blog communication. “We have over 350 PKO MTTs per week with guarantees of over $4 million, so clearly, we will need players continued support to remain competitive revenue wise with other online poker sites.”
Partypoker Lowers Fees (Bounty Event Rake Chart)
The chart below reflects the fee reductions that will be made to all PKO (Knockout/Bounty) tournaments on the site beginning in early May.
Currently, an $11 total buy-in bounty event allocates $5 to two separate prize pools that payout players based on tournament placement and opponent elimination achievements, with $0.50 commission fees attached to each competitive bracket.
The updated rake structure of an $11 PKO event will charge players a single, $0.50 commission for entering into the placement fund while waiving rake associated with the “bounty” prize pool. The result of this fee structure will mean that players of all skill levels will receive full monetary value for real money “bounty” prize payouts.
Players React to Partypoker Bounty Event Rake Reduction
Player reaction to the changes has been generally positive within the first few hours of partypoker’s announcement. An ongoing discussion thread (see below) in the popular TwoPlusTwo News, Views & Gossip forum includes posts from several veteran online poker players.
Confirmed 2018 Super High Roller Bowl participant Talal “raidalot” Shakerchi provided a comparison between partypoker’s rates and that of its major competitor, which the high stakes player referred to as GreedStars.
TwoPlusTwo public board “Pooh-Bah” Kelvis gave a shout-out to Party’s main competitor’s stance on higher rake being better for the online poker ecology by sarcastically stating, “Now these game[s] get infested with regs and if there was more rake I would have a better chance. One could argue more rake is actually better.”
Meanwhile, longtime board contributor Sect7G brought up a legitimate concern about whether Partypoker can sustain its player-friendly cashback rewards and outreach in the face of corporate iGaming industry pressure to maximize short-term profits. “[To be honest] I am a little worried about their business model,” he posted. “This nice change isn’t unto itself the issue but as a whole Party isn’t making nearly enough of the depositors money compared to any other site.”
Partypoker Signs Bertrand “ElkY” Grospellier to Sponsored Pro Roster
Partypoker has signed a number of high stakes players to its roster of sponsored pros in recent months, including an April 13th deal with Bertrand “ElkY” Grospellier — a $13.5 million live poker tournament cash prize winner and former StarCraft eSports competitor.
Grospellier joins fellow high profile players Fedor Holz, Isaac Haxton, Jason Koon, 2018 APPT High Roller champion Kristen Bicknell and legendary World Poker Tour final table announcer Mike Sexton as the site seeks to further increase its live and online poker presence among both veteran and recreational players.
Partypoker Lowers Fees – Consumer Impact
The removal of bounty rake in all PKO events will have a positive material impact on players of all skill levels who participate in Party’s “Knockout” tournaments, as it will encourage competitive, skill-based gameplay in said events by earmarking a larger portion of overall buy-ins toward real money, player-contributed prize pools as opposed to site commission fees.
However, our readers are reminded that the changes do not guarantee for-profit success in any partypoker tournament — and should not be interpreted as a portrayal of real money poker competition as a means of employment — regardless of payout or rake structures.
Furthermore, our readers should also be aware that the changes will not take place until Sunday, May 6th, and that the site has communicated its desire to engage with consumers on public discussion boards and social media to further gauge poker players’ viewpoints on real money partypoker offerings.
RELATED: Poker Subreddit Discussion Thread (Apr 14, 2018)
AUTHOR’S NOTE: The preceding news story related to Partypoker bounty tournament fees is relayed to our readers in accordance with existing UK Committee of Advertising Practice Codes for non-broadcast gambling marketing content. Its aim is to inform gambling consumers on material product information in a communicative way that is compliant with regulations set forth by the United Kingdom Gambling Commission (UKGC).
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