World Poker Exchange Plans New Pricing Method - Thursday 6th of April 2006

ST. JOHNS, Antigua – World Poker Exchangeannounced today a major pricing initiative thatthreatens to radically transform the $5.5-billion online poker industry.Called "No Rake Poker," the World Poker Exchange plan poses a direct challengeto standalone poker rooms that do not have access to additional revenuestreams.

Under the online poker industry's current business model, poker roomsobtain operating revenue by collecting a flat charge from every pot, known asthe "rake." Rake charges are fairly constant across the industry and caneasily reach $10 to $25 per hour per player, making online poker an extremelylucrative proposition for operators, but an expensive one for the averageplayer.

Under World Poker Exchange's No Rake program, the rake for both cash gamesand tournament play will be eliminated across the board, with each player'srake being tabulated and returned to his or her account on a weekly basis.

According to Managing Director Haden Ware, "We're fortunate to have agreat strategic position, due to the extensive crossover between our sportsbetting and card room businesses. While no-rake isn't an option for mostcompanies, we're confident that free poker will deliver major new traffic toour other businesses, including sports wagering, live betting, horse racingand casino wagering. While many online players are skilled enough to breakeven or win against fellow players, it is difficult to reach a net win whilecontinuously paying a rake."

Serious and casual players alike are lining up for the program's launch.According to poker professional Max Pescatori, "For those of us who like toplay high-stakes tournaments online, it makes no sense to play anywhere else.The savings will be huge."

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