Re: Pacific Poker increased the rake to $5.
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I always thought with increased competition the rake would drop? Where are the posters that have an economics degree, please tell us how Pacific Poker(and other sites) is defying the laws of economics?
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Sorry, they are not defying the laws of economics.
Baaah, Baaah, people are sheep. Did you stop driving your car when gas in the US jumped to $3.50 a gallon?
Dogmeat [img]/images/graemlins/spade.gif[/img]
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no, but if there were 50 other gas stations selling it for $2.50 I would probably buy from them.
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Well, the point is that most recreational players don't know anything about this. That is they don't even bother to look at the gas prices. Dogmeat is dead on here. Few poker players think about rake much. Most are ignorant of the rate of rake and how it affects how much they win. Some don't even know what rake is!
"Laws" of economics make assumptions of fully informed actors that make optimal decisions. Most poker players are not anywhere near fully informed and they are obviously not optimal decision makers. Ironically the people we want to play against most are at places like Pacific, where the rake is highest (and hence we don't want to play there).
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