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Poker Industry PRO: Partypoker Axes Bounty Rake in All Progressive Knockout Tournaments

Rake will be cut between 40% to 60% in the immensely popular PKO format, as its aggressive investment into poker continues unabated.

Online poker operator partypoker has announced that it will no longer collect rake on the bounty portion of all its progressive knockout (PKO) tournaments. This will mean a rake reduction of between 40% and 60% for all PKOs.

The decision of one of the most aggressive and potentially costly moves yet by partypoker in its bid to attract players away from the competition to its platform comes just weeks after online poker leader PokerStars announced a 20% rake increase in low stakes multi-table tournaments.

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Poker Industry PRO: Market Monitor: New Jersey March 2018

 

Online poker operators in the state of New Jersey generated $1.97 million in revenue during March 2018. The statewide network featuring Borgata Poker and partypoker recaptured the second place slot in the market last month outearning the Caesars and WSOP.com led network $623k to $565k. Resorts and its online poker partner PokerStars generated $779k, maintaining its market share lead with nearly 40% of the revenue. However, the downward trend of online poker revenue continued in March. Last month revenue fell below the $2 million mark for the first time in March since the market opened nearly five years ago. Last month also continued the trend of year-on-year losses extending the streak to thirteen consecutive months.

Online gaming revenue overall topped all previous months with $25.6 million generated, surpassing the previous high of $22 million in January 2018. iGaming revenue has risen on a monthly year-over-year basis every month since year-over-year comparisons have been possible.

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