PokerStars Rolls Back Rake Changes
10 years ago
06 Jan
Whether it was due to discontent from the community, deeper financial analysis, or something completely different, PokerStars will be reverting most of their rake changes that took place after November 3rd. This welcome news was published just a couple hours ago by Eric Hollreiser, Head of Corporate Communications for the company.
Late last year, the industry's biggest online poker site introduced unfavorable rake changes in different game formats that prompted vocal disdain from many players who have been loyal PokerStars customers for years. Quite a few accused the company of a money grab, and that PokerStars was moving away from what they used to be – a site that truly appreciates and cares for its players.
It seems that those protests have actually produced some results, as according to this latest statement, rake has been returned to the pre-November 3rd rate for most game formats except for Spin & Go tournaments.
The announcement also stated that there will be no further rake increases in 2015, barring jurisdictions where changes are necessary due to an increase in taxes. As most players are aware, more and more countries are introducing new laws regarding online poker and these laws usually carry with them either all together new tax provisions or some increases in the already existing taxes.
As you're likely aware, more countries are introducing taxation, increasing the impact on our business and the poker economy at large. We will continue to use a combination of rake increases and VIP Club reward reductions to address the increased taxation, but these changes will be made consistent with our past practice of sharing up to 50% of taxation with players." Eric Hollreiser, PokerStars Blog;Hollreiser further explained that the poker economy is a complex entity and rake changes are a part of its existence. In order to keep up with the tax increases and VAT impositions, there may be some reductions in VPP multipliers in various countries where such changes are required.
In the second half of the year, there could be some increases for players from these countries as well, and the statement promises that the players will be timely informed about any such changes this time around.
Many players will certainly be delighted to hear this, but unfortunately, the laws of individual countries are something that neither PokerStars nor players can really control, so we can only hope that lawmakers are able to use some common sense when going about taxation issues.
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