November 7, 2019 Live Poker News, Poker Industry News, Featured Articles, Poker News Lars Liedtke

Venetian punished by poker community with a $27,000 Overlay for abusive rake structure at Lucky Shot Poker Series

More rake is better at Venetian poker room

We already reported about the rake-grab Lucky Shot poker series, which led to a huge outcry in the poker community due to the fact that any money raised above the guarantee automatically belongs to the house, rather than being paid out to winning players.

Famous Youtube Poker Vlogger Jeff Boski explains:

“100% of all funds collected will go to meet the $150,000 Total Prize Pool. Any funds collected above and beyond the total prize pool will be the sole property of The Venetian Poker Room.”

This essentially means that the more players take part, the higher is the rake:

Poker community calls for a boycott #BoycottTheVenetian

The poker community led by Youtube Poker Icons Doug Polk and Jeff Bowski as well as the whistleblower of the Mike Postle cheating scandal Veronika Brill were quick to organize a protest and called out for a boycott of the event via Twitter:

In addition to that, popular Youtube and Twitch streamer Andreas „tvtotalwin“ Froehli also made a video, where he called out to not play the Lucky Shot Poker Series:

Lucky Shot Poker Series flops

It worked as the Lucky Shot Tournament Series, which took place last week, turned out to be a bog flop.

The Venetian only managed to hit their breakeven target of more than 600 players for the $150,000 capped prizepool in the Main Event.

5 of 6 Lucky Shot Poker Series events don’t reach the Guarantee causing a 27,000 Overlay!

However,  numbers in all the other 6 Lucky Shot Poker Series events, which all had guaranteed prize pools, were really low causing a total overlay of $27,000!

Venetian punished by poker community with a $27,000 Overlay for abusive rake structure at Lucky Shot Poker Series

Just imagine, the Main Event would have got 1,200 players, then the rake for this tournament would have been an outrageous 50%!

Luckily, the majority of the poker community stood strong and decided to not go, otherwise events like this could become more frequent in certain casinos.

Poker Community stands strong against rake abuse

The poker community has taught the Venetian and the organizers of this event an important lesson and set an example that we won’t support such rake abuses.

If rake is too high than it will turn all small winners and breakeven players into losers and potentially result in them having to quit  the game we all love. This is something we can’t let happen.

Less Rake is better!

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