The Equity Poker Network (EPN) announced Wednesday that Gear Poker has become the first poker room to make its exodus from the small online poker network. No specific reason for the separation was given, but in a short press release, EPN said, “…each party has different ways of doing business – nothing more, and nothing less.”
The Equity Poker Network was launched about a year ago as a unique entity, touting itself as the first non-profit online poker network. It refers to itself as a “cooperative,” feeling it exists to support its member poker rooms, rather than the other way around. Typically, poker rooms funnel a percentage of their revenues to the network, but in the case of the Equity Poker Network, the poker rooms need only pay the network $10,000 per month. The fee is supposedly just used to maintain the network, not to enrich the executives.
The network also takes an interesting approach to helping the networks from a player and poker standpoint. To prevent member rooms from undercutting each other and poaching each other’s players, the Equity Poker Network awards a player’s revenues to the poker room that original signed that customer up. Players are free to jump from room to room, but the revenue they generate will always stay with the original room. Thus, a poker room’s player acquisition efforts need to come on the front end and require some actual thought and strategy, rather than just saying, “Hey you! Here’s some more rakeback!”
Speaking of rakeback, the poker rooms are allowed to offer this and other rewards as they deem fit, but total rewards must not add up to more than 50 percent of rake. The poker rooms can also create their own tournaments. Basically, each member room can do whatever they want within some guidelines and reason.
One policy implemented by the Equity Poker Network that many players probably won’t like is the “Shark/Winner’s Tax.” While the exact mechanics of it have not been publicized, it is fairly easy to infer that member rooms are encouraged to recruit as many recreational players as possible; bringing in too many serious grinders will see them suffer the consequences.
With Gear Poker’s exit from the Equity Poker Network, the poker room’s players will have trouble finding games for a while, as it is not immediately joining another network. The press release issued by EPN said that Gear Poker players should not have problems receiving payouts and that Gear Poker will be in touch with them when they do latch onto a new network.
“This decision has been taken in the best interests of both EPN and the Operator. We wish Gear Poker continued growth for the future, and we part ways amicably,” said EPN.
In May, the Equity Poker Network, which does accept customers from the United States, announced that it was withdrawing from the three regulated U.S. markets: New Jersey, Delaware, and Nevada.
