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.
“I want partypoker to be the guys making decisions in the industry and other people following us,” stated Patrick Leonard, ambassador for partypoker and himself a highly successful MTT player, coach and backer who was reportedly instrumental in lobbying for the change. “I want us to be bold. I want us to be brave, but most importantly, I want us to be fair.”