Pokershare- new poker site.

[krazyace5]

Saw this in nvg post

Basically this is a new site and if you play here you earn shares/dividends in the company. I went and dowloaded it to see what it was and it is powered by UltimateBet, not sure if it is a skin or a new separate site they are starting.

Anyone know for sure?

[arod4276]

clever affiliate

[RPMick]

[ QUOTE ]
clever affiliate

[/ QUOTE ]

Not really?

Pretty much a standard link to another 2+2 thread and another couple links to CBSMW & the site itself?

Interesting site. I like the idea. I want to see some screen shots from the interface. Anyone?

-Ryan

Hi guys,

Good to see the news is spreading, we're are a skin of UltimateBet so you can be assured our software will be fantastic. Do please check out our website and if you have any further questions either email me or post on this forum and I will do my best answer them.

All the best

Max Wright

Poker Room Manager for PokerShare.com

pokermanager@pokershare.com

[arod4276]

what exactly is the idea?

When you sign up as a player to PokerShare.com you become a member of the Poker Share Trust.

The Poker Share Trust has been set up to distribute 40% of any profit from PokerShare.com to the players. Simply speaking, it’s what makes PokerShare.com work.
Based in Gibraltar and governed by a Board of Trustees, the Poker Share Trust owns 40% of the shares of PokerShare. This means that 40% of the profits generated by PokerShare.com , are given to the Trust to be distributed to the players.

When you sign up for a real money account you request to become a beneficiary of the Poker Share Trust, allowing you to claim a right to share any profits.

Every 3 months, the Trust distributes its share of the profits to the beneficiaries – that means you, the players of PokerShare.com.

When you play on Poker Share you earn what we call ‘Ultimate Points’ that can be used for betting, buying merchandise or gaining entry to tournaments. When you receive an Ultimate Point, Pokershare.com will give you one SharePoint that entitles you to a percentage of PokerShare.com profits.

Unlike the Ultimate Points that you earn, your SharePoint total will only rise, so the more you play, the more you earn.

For example, after three months, if all of the players of Poker Share have a collective total of 10,000 SharePoints, and you have 500 SharePoints, then you own 5% of the of the players’ share.

After the second three months, all of the players of Poker Share have earned 15,000 SharePoints, then the total SharePoints in circulation is 25,000. You’ve earned 2,000 points in this three months, which puts your total to 2,500 points and so your percentage of the players’ share is now 10%.

As you can see, if you didn’t play in the last three months and you only had 500 points, then your percentage of the profits would have dropped to 2%.

So the more you play the more you earn!

For more information please check http://www.pokershare.com/pages/page370.php

[KaBoom]

This is a fascinating idea and might work especially since it is a skin of UB so player base is already there.

Do you have any idea how much the dividends could be...say I played 30000 hands (2-4NL) in 3 months?

[Maddenboy]

WHEN are the "dividends" distributed?

HOW are the "dividends" distributed? Cash? more UB points?

After a distribution, are everyone's points reset to zero?

[Moneyline]

So this is basically a 40% rake rebate. Actually, it would be less than that because since we're getting a kickback from total company profits, things like employee salaries, bonuses, and transaction fees will be subtracted from everyone's rake and we get 40% of what's leftover. If this offer could be combined with UB's typical bonus structure then I think this would be a good deal for the player, and still be +EV for the poker site. Without bonuses, however, it amounts to a rather good rake rebate at a site with a relatively large rake structure. So with bonuses I would be willing to play a lot at this site as long as the games don't suck, without bonuses there's really not much incentive to play here over other sites that offer rake rebate (unless the games are soft).

Just my opinion... if anything I've written is factually incorrect, please disabuse me of my faulty notions...

[Arnfinn Madsen]

[ QUOTE ]
So this is basically a 40% rake rebate.

[/ QUOTE ]

Watch out, guys! It is not even a 40% rake rebate. It is a skin of Ultimatebet. Let's say they get 50% of the rake generated (rest goes to Ultimatebet). Then they pay their own expenses leaving 30% of the rake generated as profit (initial marketing/start up costs is often relatively high). Out of that you get 40%, giving you 12% of the rake you generated.

Not exact numbers, but just giving you a idea of how bad this proposal is.