New Online Poker Site by the legendary Phil Galfond
Why Is This Important?
It has seemed that the launch of a new online poker room in today's market seems like a ludicrous idea. After-all who could compete with the likes of PokerStars and their millions of dollars in promotions? After Amaya acquired PokerStars it seemed like poker was going to go downhill, as they focused primarily on cutting costs and recouping their investments as soon as possible. As a result players that once where able to make a living, where getting squeezed out due to rakeback cuts, increased rake, and increased focus on Casino games.
Other sites transitioned to cutting out all player rewards and table capping to try and stay afloat. Nobody seems to be able to figure out how to keep a sustainable ecosystem in the online poker room that does not screw over poker players, kill the dreams of those who aspire to play professionally, and remain profitable at the same time.
With the recent news that Phil Galfond will be taking on this project, it gives new hope to the future of online poker and the industry in general. People had doubts that a new coaching site would succeed in a saturated market of decuescracked, leggopoker (now iveypoker), cardrunners ect but he proved them all wrong and created a world class roster of champions for Run It Once.
Which without a doubt has the best poker coaches, and content for anyone on the market today.
So when the news came, that a man of such integrity, and caliber would be launching a poker site. We can only dream of what innovations he will bring that will revolutionize the industry once and for all.
Who is Phil Galfond?
As some of you may not know who this legend is, here is a quick run down of his amazing accomplishments.
$6,599,839 Online Poker Profits
$2.3 Million In Live Tournament Cashes
Just being an overall badass!
What kind of features or games would you like to see on what could be the greatest online poker room to ever exist!?!?!
So a group of well known semi-famous poker pros are getting together and starting an online poker site.
What could go wrong?
Full Tilt Poker was operating illegally in the US, and Phil Galfond's site is not allowed for U.S. Players and they will be following all regulations. That is the main reason FTP was so screwed lol is because the DOJ came knocking and exposed the fact that their funds were not segregated. PS did not have that issue when DOJ came, and they ended up paying $700M in fines which also covered 100% of all the funds that were stolen in FTP scandal.
Maybe we will see it in NJ / Neveda
Thats right, PS (run by an israeli businessman) didnt have that problem. FT and Sirrius did, because they were run by poker players.
Although it contributed to their woes, at the end of the day, the unsegregated funds really had nothing to do with them operating illegally in the US. Thats just how we found out that they were operating on a fractional reserve (when they got shut down and couldnt pay depositors). It had to do with the fact that the lunatics were in charge of the asylum.
I would say it is unlikely that someone would try and pull the same thing again. Especially of someone like Galfond who is not making much money of RIO as he shows in an interview with ChicagoJoey. He just does it for the project itself, to make a quality product that benefits the community. So it seems like making every penny he can won't be a priority. As I am sure he pays a pretty penny for the roster of pros he has on the site that have won millions, and his videos alone drive prob 10% of all traffic.
Just check out his post :D
http://www.runitonce.com/chatter/a-poker-site-should/
This video is also pretty neat by Joey
So stoked about this!! I love the other other Phil! Though I hope he did well in homegames since 2009 based on that graph haha
Haha yea after black friday in 2009, he could not play on that account in the US since PokerStars was kicked out lol
The other phil tried to make an online poker site :P at ivey poker. But it did not go over too well
Im pretty hyped for some actually beatable plo. Hopefully they limit the amount of tables people can play to 4 tables or even 3.
Yea with Galfond running the site, the rake shouldn't be like 13-15bb/100 at micros anymore lol
But I don't believe that he will implement strict table caps, since he wants to increase the chance of people that can move up. It is pretty difficult to move up from $10 PLO to $100 PLO if all you can do is like 200 H per hour at like 5bb/100 winrate lol . Thats like $1.00 / hour income
I guess I just don't want the mass multitabling eastern europeans to ruin the site. Maybe removing live huds could be good.
For some reason it won't me reply to your last post lol, not sure on how this all works yet still.
But I would recommend you play on TonyBet. Send me a direct message on twitter if you have any questions :) https://twitter.com/plusevgaming
But pretty much here is the rundown of benefits
A. If you win more than $100 USD in 24 hour period you get 20% Rakeback
B. If your winnings are between - $100 and +$100 for 24 hours than you get 50% rakeback
C. If your losses are more than $100 for the 24 hour period than you get 80% rakeback.
Unfortunatly I can't play on there from the U.S. =/ But it sounds like a hella dope site to play on. You could also look into playing on Unibet as well, it is standalone and pretty decent traffic. It also has a sportsbook
And finally the last site probably would be PKR poker.
From when I lived in mexico for 6 months, those are the sites I played on. They were uber soft :)
Haha what region are you from? If you are from the U.S. than we can't play on the site anyway :P
From Australia. It really just sucks because I really hate versing hardcore grinders, I just want to play against recreational players.