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Microgaming introduces new rake system, ends Italian ‘virtual voucher’ program

TAGs: 5050poker, Italy, Microgaming, rake

microgaming-rake-italy-virtual-voucherThe Microgaming Poker Network, which includes such operators as Ladbrokes, Stan James and Unibet, will introduce a new rake system dubbed ‘True Value’ on July 1. While the precise formula by which rake will be calculated isn’t clear, Microgaming claims True Value will allocate rake to operators using a formula of “volume, activity and win/loss ratio” that assigns greater value to new players, with the stated intention of encouraging/forcing network operators to do more to attract recreational players. Microgaming claims players will remain unaware of the ‘dual-layer’ system as it “lays one rake allocation method directly on top of another, both working in real time.” Lydia Melton, the company’s head of network games, says players “earning rake-based promotions, like bonuses, will clear those promotions at the same rate” under the new system. Microgaming previously switched from the old ‘dealt’ method of calculating rake to the ‘weighted contributed’ method in January 2010.

In Italy, Microgaming has announced it will end the practice of allowing customers to transfer funds from their online accounts to payment cards, which can be used to withdraw cash from physical outlets run by affiliated companies. The edict was issued June 13 and took effect immediately. GamblingCompliance reports that Microgaming and other operators utilizing these “virtual vouchers” were approached by Italian regulator AAMS about ending the practice because it didn’t fit with Italy’s remote gaming legislation, although the suggestion has been made that the issue had more to do with purely retail domestic operators looking to rid themselves of competition.

Finally, Microgaming announced on Friday that it has immediately suspended all game play on the poker room of operator 5050Poker Ltd. for a material breach of its contract. Microgaming says 5050Poker’s directors were made aware of the breach on Thursday, and game play will be reinstated once the breach is satisfactorily rectified.

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