Wednesday March 20,2013 : EQUITY POKER DETAILS REVEALED (Update)
CEO Clive Archer talks about his latest venture
The announcement last week by industry veteran Clive Archer that he is helming a new operator-guided online poker network branded Equity Poker Network triggered interest in the poker media as observers discussed what differentiates the new operation from the many other networks currently on the Web.
One information site – Calvin Ayre – addressed the subject directly Tuesday in an interview with the former Microgaming and BetonUS exec, who revealed that:
* One of Equity's main goals is to create a balanced ecoculture (that's a goal shared by many operators who have become aware of the dangers of too many sharks downgrading the player experience of the fish or recreational players).
* Archer's wide experience in implementing or heading up online poker networks has been harnessed by an unidentified group of investors to create a network that will be both low cost, successful and sustainable for operators.
* Rather like the Microgaming poker management board system, the new network is guided on a cooperative basis by a management board comprised of operators who are members of the network. Members of the board have voting power commensurate with the volume of business they deliver to the network. Their power extends to who manages the network itself.
* Archer has purchased software that was developed in Canada ten years ago and was later used by the Norway-based Playsafe organisation, which has since left the operational side of the business, but retained its interest in the software. The software has been deployed on various online poker networks, including the Action Poker Network and the fast-growing Chico Poker Network.
* Archer detailed the four principal elements which Equity Poker has applied to build the right poker ecology: A tax – distributed to other members of the network – that penalises operators who bring too many sharks to the network; ensuring that the operator who brings the player to the network is the one who benefits from his or her action; a clearing house that ensures that funds are always available for fast pay-outs to players and operators; and an operator-friendly and profitable business structure that gives operators more funds to spend on pulling in more players.
* Operators are responsible to the player for player deposits. The network does not guarantee player deposits, and the clearing house does not have an oversight role regarding operator financial affairs, but does impose certain requirements on operators joining the network. These include a rule that operators post a deposit with the network sufficient to cover assessed liabilities. This is held separately by the network, ensuring the safety of other operators and the players.
* The network allows up to fifty percent of rake as rakeback or promotions. The network has also set maximum reward and player comps at 50 percent. Encouraging operators to maintain a balanced and non-competitive attitude with other operators on the network is emphasised.
* Network fees are kept as low as possible and do not change as individual operators become more successful and grow. Archer stressed that the network's primary objective is to work for a fair environment that benefits both operators and players.
Check out the full interview here: http://calvinayre.com/2013/03/20/poker/exclusive-interview-with-clive-archer-equity-poker-network/