HOW CSPL:ONLINE WORKS
VIDEO TUTORIAL: HOW TO JOIN CSPL:ONLINE
The pppoker app is perfect for our privately run online games. Its most core functionality is the creating, running and playing in private clubs. Club owners (CSPL) control a closed ecosystem of chips, and are able to send and claim back chips from members. Chips awarded to members in the Club cannot be used outside of that one Club. The app is safe, fun, run by a great company who host live poker festivals, and, even better, the actual player money is controlled by the Club host.
All player funds are guaranteed by the CSPL Board. Your funds are safe in the CSPL NatWest bank account, and are not transferred further. The app pppoker does not see, hold, transfer or have anything to do with the player funds. Players can deposit and withdraw both by card and by cash - cash transactions are honoured at the CSPL live games.
Most online poker sites such as PokerStars charge a rake of between 5% and 10% of all cash pots, capped at 5 to 15 big blinds. The minimum setting for rake on the pppoker app is 1% capped at 0.5 big blinds for all cash game stakes.
From the money raked, the Club pays pppoker some monthly charges. Mainly for 2 things; 1) the 'Club Rating' and 2) additional Chips.
1 - the 'Club Rating' allows for more than 20 members, up to 60. It costs (converted from the in-game microtransactional currency, 'diamonds') roughly £35 a month.
2 - As mentioned previously, there is a limited number of chips in each club. Each chip, divisible into 2 decimal places, is the equivalent of a single 1 Pound Sterling. When chips are raked from the table, they are lost to the Club and disappear. This means the Club needs to purchase additional chips every so often. The initial purchase was for £40, worth 10,000 chips.
An example of how rake is currently working - 1 session of 6 hours of 'Big Game' stakes at 6 handed returns roughly £3-£6 in rake.
Converting back through 'diamonds', we can work out that each £1 sterling costs 4p to replace, and lower depending on bulk discount.
Dory on behalf of the Club returns most of the rake paid by the players, a process in the poker industry known as Rakeback. The total Rakeback sum is calculated at the end of every 1 or 2 months (depending on site traffic), and is as follows:
Total rake, minus the app costs, minus League deductions.
The result is usually 50 - 90% Rakeback.
There is one additional detail; the rake for tournaments is not changeable from 10% of the total buy-in given. The balance taken from tournament rake is given back through Bounties and full-fee Rakeback. The League games also are different as the rake there (technically 1.10) goes towards the Grand Final prize pool. These will be taken into account in the final adjustments.
No player money is charged, withheld, paid on behalf of or invested in the Club. No players are charged an entry fee. No salaries or benefits are paid or accrued as a result of handling player money.
Small change NatWest might pay some interest on the total balance being held, but I'll figure that out if it happens.
When COVID restrictions began, I knew I had to keep the Club functioning if I wanted to keep growing and expanding its scope. The first and obvious choice was PokerStars home games, but the idea made me very uncomfortable for a number of reasons.
Firstly, I was very uncomfortable with the idea of asking my Club members to download a casino software onto their computers and/or phones. It opens up a great deal of possibilities for further gambling that I wouldn't want to invite into their lives. I wouldn't even want player money sitting on an online casino account. It's not responsible as a poker Club host.
Secondly, for the stakes we were looking to play, the rake was very high. For 10c/25c stakes, it was capped as high as 15 big blinds. Looking back at the games we've played, our rake would have been in the thousands, and we would have gotten next to nothing in Rakeback.
The Poker Club app pppoker was the ideal solution for many reasons. It meant we could create any games we like, control the finance side completely, pay a tiny fraction of the rake, all whilst running an exclusive, closed membership poker club.