Poker Syndicate Seek To Revolutionise Online Poker

April 13, 2007 by ozpoker
Filed under Poker Room Promotions

Revolutionary online poker Site Announces Equity Share Model For Players

Poker Syndicate.com is a new player in the online poker world but their innovative approach to player rewards could see them quickly become one of the major players on their network in a short period of time.

The new player in the online poker market have just released details of their poker equity revenue model which seeks to deliver income derived from player activity back to the player and sets them apart from many other conventional online poker sites.

Conventional online poker models derive income from player activity in the form of rake and tournament fees. Rake is a small percentage of each pot in a cash or ring game that is taken by the house or poker site as their payment for providing the software platform for the players to play on. This is traditionally retained 100% by the house except for some sites that offer rakeback, which seeks to directly return a share of that players own rake back to the player. Where rakeback models exist they are normally of the order of 25%-35% of the players rake.

The Poker Syndicate Equity model seeks to return 50% of a players rake by way of equity in the poker company itself. In other words, “For every dollar in fees that you pay on Poker Syndicate tables, you’ll receive 50 cents worth of equity in the Poker Syndicate company”. Obviously the more player activity recorded at the tables, the higher the equity share the player will retain in the company. Like all business companies, the player will be entitled to receive quarterly dividends proportionate to their share in the company. A Poker Syndicate spokesperson explains the quarterly dividend payment procedure :

We will pay our first dividend on September 30th, 2006 - the end of the third fiscal quarter. The dividend payout will be a minimum of 50% of all profits derived by the Poker Syndicate. You will receive a percentage of that sum based on the amount of equity you have accumulated, so if you have accumulated 1% of the total equity, you will receive 1% of the total divident payout - or a minimum of 0.5% of the total profits generated by the site!

Notwithstanding the new concept of rewarding player activty with company equity, Poker Syndicate have announced preliminary plans to “to seek a public listing by securing a qualified Investment Banking Firm to implement an Initial Public Offering on behalf of the Syndicate in the next two years”. Should those plans come to fruition, many serious poker players could become far richer from their equity holdings in the Poker Syndicate than they could ever imagine from their poker play.

Poker Syndicate are additionally offering all players a 25% first time deposit bonus up to $250 on all deposits over $100.