Rake is ridiculous, time to change the rake system?
I know that saying this won't work as online poker sites
are business and the business main goal is to profit the maximum. Therefore as long as there is demand there will be supply even if the deal is unacceptable.
Of course people being people we will still go to poker sites and play even if they charge 5% or even if they decided to charge 10% some will still play as there is so many poker sites only (with real traffic). Hell, even casinos
have tons of people going even though clearly you are losing a % of your bet every time to house edge.
To give you an idea how ridiculous rake is, let me tell you from simple observation from a raked $ 1/2 home game their rake averaged about $150 an hour. The rake is 5%.
We take an example that the game is 10 handed, there are 2 fishes (which is great already considering how NLHE has evolved, era of tables more then half fishes gone) 4 are break even players and 4 are winning players. Each of them brought $400 for simplicity sake.
Lets say the game runs for 8 hours before breaking. $150*8= $1200.
So who's the big winner? The house of course! Its ridiculous even the MOST SKILLED player won't make more or even close to what the house makes!
$1200 = 3 buyins, which means 2 of the fishes buyins go to rake (the money might have spread around the table but ultimately it goes to rake as the fishes will bust), so we left $400 rake spread amongst 8 people, so everyone would have left about $350, but 4 of them are winning players so lets say then each win $150 from the breakeven (slight losers) players...
pro 1 $500 (+$150)
pro 2 $500
pro 3 $500
pro 4 $500
normal 1 $200 (-$200)
normal 2 $200
normal 3 $200
normal 4 $200
fish 1 bust (-$400)
fish 2 bust
House $1200 (+$1200)
It must be clear from this diagram that even Phil Ivey with all the skill in the world playing such stakes (Obviously he play much higher stakes so rake is negligible) would NEVER even come close to what the house makes.
If there is no rake the fishes money would be spread around each of the 8 players and let say the pros make $150 from the average players (Reasonable assumption)
Final Score (NO RAKE)
pros $650 (+$250)
normal guy $350 (-$50)
You can see that the people with skill makes almost double what they earn daily. $100 difference in a day, $3k in a month! $36k a year to rake!
My take, charge 2% rake for online sites without rakeback b******t (I know its a business so no rake wont work but 2% is already great considering how much casino games make with just 1-2% edge) Also, online sites do not have much maintenance costs to get them running so they earn tons...Also why not just charge 2% rake without cap so that the ultra-high stakes player pay accordingly too instead of $50 rake in a 20k pot. And other players wont have to pay the same $50 for the $1k pot. This would offset the micro players paying a lower rake.
Its a reasonable system and give micro players with decent skill a chance to move up
And for home games its ridiculous to charge so much just for dealing games in your home. I would say each pay $10 for the dealer for dealing (And occasional tips) and that's all.
Of course all these falls on deaf ears...