Full Tilt paid Ivey $900k a MONTH. How do poker sites make money?

[WeenieSVK]

Running a business isn't a charity

Man do you know what cartel is?

And even if its not, there should always be morality in business. The sad thing is that you probably feel so "cool" with this your opinion... In fact you re just letting them sh1tting on your head. Thats why the world is so fcked up today and 3% of population own like 95% of the wealth...

 

[Mindset]

Man do you know what cartel is?

And even if its not, there should always be morality in business. The sad thing is that you probably feel so "cool" with this your opinion... In fact you re just letting them sh1tting on your head. Thats why the world is so fcked up today and 3% of population own like 95% of the wealth...

yeah **** capitalism

 

[jj20002]

if somebody could win every sunday million would gain less than that, this amount is huge!! good for ivey and his ex!!

 

[el_magiciann]

These are really sick numbers, insane winning just only from rakes.

 

[terryg642]

full tilt paid ivey

yes,this is why I would love to own my poker site ,the number of hands in an hour on online poker times 2% for every pot just mind blowing.

 

[Randall McMurphy]

Man do you know what cartel is?

And even if its not, there should always be morality in business.

I never thought I would actually witness someone fall off a turnip truck.

 

[S3mper]

Man do you know what cartel is?

And even if its not, there should always be morality in business. The sad thing is that you probably feel so "cool" with this your opinion... In fact you re just letting them sh1tting on your head. Thats why the world is so fcked up today and 3% of population own like 95% of the wealth...

So if a business becomes too successful it becomes immoral? The reason they have so much isn't necessarily because they are taking too much rake from a player but because a lot of players are paying rake 24/7

If your business is making millions a day why would you do something that would make your company less money? A business man should always be trying to improve their business if lowering the rake would do this then lower the rake.

Maybe if you were a little more greedy you would be one of the 3% Maybe I should become more greedy too..

Also usually companies and businessman who own multi- billion dollar companies donate to charities.

I doubt poker sites use price fixing as they are all competing for traffic

 

[WeenieSVK]

So if a business becomes too successful it becomes immoral? The reason they have so much isn't necessarily because they are taking too much rake from a player but because a lot of players are paying rake 24/7

If your business is making millions a day why would you do something that would make your company less money? A business man should always be trying to improve their business if lowering the rake would do this then lower the rake. If you want to play poker online, you have to pay inadequate for it.

Maybe if you were a little more greedy you would be one of the 3% Maybe I should become more greedy too..

Also usually companies and businessman who own multi- billion dollar companies donate to charities.

I doubt poker sites use price fixing as they are all competing for traffic

I never said that If business is too successfull then its immoral, I am not even close to think this. If there is normal competition on market and they are providing best services for adequate prize, then they completely deserves it.

But there is NO competition on this market in rake at all. Thousands of people play there 24/7 cause they have no other option cause those biggest pokersites with highest traffic has similar VERY HIGH rake. If you want to play poker online, you have to pay for it inadequate prize.

You really think rake isnt too high? Are you serious? They Take from you 10-20% (especially on micro stakes where most of the people plays) from every tournament/SNG. And 4-5% from every hand in cash game. And what are their costs comparing to their profit? thats robbery. I really cant believe there are regular poker players on Earth who honestly thinks that rake is adequate and its not too high...

 

[rerent]

Same analogy n a Poker House... Online Poker Gain so much revenue 1000% expected

 

[S3mper]

I never said that If business is too successfull then its immoral, I am not even close to think this. If there is normal competition on market and they are providing best services for adequate prize, then they completely deserves it.

But there is NO competition on this market in rake at all. Thousands of people play there 24/7 cause they have no other option cause those biggest pokersites with highest traffic has similar VERY HIGH rake. If you want to play poker online, you have to pay for it inadequate prize.

You really think rake isnt too high? Are you serious? They Take from you 10-20% (especially on micro stakes where most of the people plays) from every tournament/SNG. And 4-5% from every hand in cash game. And what are their costs comparing to their profit? thats robbery. I really cant believe there are regular poker players on Earth who honestly thinks that rake is adequate and its not too high...

Would I like for their to be lower rake, absolutely.. pokerstars has the lowest rake in online poker (I think) and for a business to survive they need to make the maximum profit possible.. Poker sites do have competition and poker stars is winning because they have the best customer service and best deals (including rake)

Plus they do have expenses such as advertising, servers, customer support, security, and paying/sponsoring professionals among other things.

If Full Tilt wasn't making enough to pay Phil Ivey 900k a month, then another site that was would have and then Phil Ivey or other pros would have been wearing a Stars logo on them instead of a Full Tilt, then Full Tilt wouldn't of had Tom Dwan, Phil Ivey, Patrick Antonoius, or Gus Hansen and then they may have never been a power house that they were and may have never been near the top of online poker...

It's like a pro football player who can make 4 million with the team he is on or 5 million for the teams he's currently playing for rival.. He is going to choose the 5 million..

A company needs to make the maximum profit they can while they can, if a company goes "we made enough lets make a little less" they would have never been a successful company.. If being successful means rasing prices they will raise them if it means lowering prices they will lower them..

Don't get me wrong it would be nice if some one else made a poker site with lower rake and made every poker site compete for players but till then we just have to pay them or band together and boycott till they lower the prices lol

Online poker is cheaper then live poker though.. Gas money, tipping the dealers + rake ='(

Maybe I'll open up a poker site.. if only I had the capitol =(

to make it short though I agree it could be lower but if it were my site I wouldn't lower it unless it would make me and my company more money. Is that greed? maybe but that's the point in owning a business making as much money as you possibly can when you can.

 

[PlayedYou73]

http://www.pokernews.com/news/2012/...vey-made-920k-a-month-from-tiltware-11720.htm

How does a poker site pay Ivery $12,000,000 a year?
How do they make money? On rakes?
That's a LOT of money in rakes, no?

The answer to your question, is in the fact that Full Tilt went busto, and it is only because the group that owns Poker Stars bought them out, that they are still operating at all.

 

[Boriska797]

They not only take cents for every dollar, but also make good on traffic to us players. So do to get rich on the ordinary people. And everyone wants to get rich cunning people.

 

[RogerZzz8979]

PokerStars makes money because of the rake every player pays for sitting on their tables and because >99% of the tournaments exceed the guaranteed prize pool, so it's not costing them any money.

And Full Tilt probably because it was a big scam, haha. Sorry, that was mean ;-)

 

[S3mper]

Full Tilt was not a scam it was badly managed by people who didn't know what they were doing

 

[torosanti012]

a lot of rake and also tournament fees! there's tournaments on full tilt with like a 26 dollar fee and over 1000 people enter it so there you go.

 

[tignutz]

if i had a poker site i would run a certain time slot where there was no rake for like an hour. you would generate so much traffic and you know people wouldnt be watching the clock.

or when pokerstars has those crazy one dollar tournnies where 100,000 people are playing, get at .10 a player thats 10,000 right there!

 

[sotakid80]

ohh yes, you think of a rake as a few cents, but for all the 1ks of tables they have 24 hrs a day 365 +lots of $$$$$$$

 

[punctual]

http://www.pokernews.com/news/2012/...vey-made-920k-a-month-from-tiltware-11720.htm

How does a poker site pay Ivery $12,000,000 a year?
How do they make money? On rakes?
That's a LOT of money in rakes, no?

If they pay him $12,000,000 a year then you can be sure he is bringing in at least $120,000,000 a year for them.....

When people see a big name affiliated with a site, they start to trust the site more and are more willing to write checks to deposit. And if IVEY plays there regularly, high rollers are guaranteed action.....and so, the rake on that high roller action may cover his monthly pay in just a single day or maybe a week.

It's tricky to determine whether or not a Professional is really bringing in new customers but i suppose they can determine how many customers they had before hiring IVEY, and how many they had afterwards. I mean, this is not very accurate as any perceived relationship could be just a correlation but i think it is the best they can hope for.

Or maybe, like i said above, an IVEY, will bring not only more high rollers but also more professionals to the table. Just think about the kind of rake FULL TILT makes when Phil Ivey plays nosebleeds (assuming they still have such high limit games).....

So it may seem unwise for them to throw money at a professional poker player like that, but doing so must be a profitable investment for them otherwise they woudl not be doing it.

 

[punctual]

if i had a poker site i would run a certain time slot where there was no rake for like an hour. you would generate so much traffic and you know people wouldnt be watching the clock.

or when pokerstars has those crazy one dollar tournnies where 100,000 people are playing, get at .10 a player thats 10,000 right there!

I think that is a great idea. BUT, think about the server overload that woudl occur during that hour. So if they plan on offering something like this, they had better be ready for it. SO MANY PEOPLE would be caught up in teh action that they would not even be paying any mind to the time.

Of course, this would only work with cash games. With tourneys, you'd have to make sure no tourneys were starting during that hour or just make tourneys the exception

 

[Lucky_z_UA]

I read that on the day of the poker room earns 3m

 

[RCtheDabbler]

Im not sure on exact figures but all the big poker rooms will take thousands of dollars in rake per minute, $900k a month to pay for a well known poker pro and to get more players is small change to them.

 

[kidnaping]

for percentage

its take a percentage from all the games like a casino

 

[vic75]

I don't think that Poker Stars has ever lost money in there guaranteed tournaments this site makes the most money with most amount of players the biggest giant in the poker market :smokin: