In acquiring Cake Poker and rebranding it the Revolution Gaming Network effective June 1, Lock Poker has announced that it will offer players 36% rakeback at the new network, the highest rake available on the market, up from the 33% previously available.
Rakeback for new players at Merge was discontinued in June of 2011. Leaving the Merge Gaming Network means that Lock Poker will bring its own estimate of 40% of the current Merge player traffic with it to its new network. If those numbers are accurate and including an influx of new players expected to try out the site, as well as to take advantage of the generous rakeback deal, Revolution Gaming is poised to overtake Merge as the top online poker network that still accepts U.S.players.
Lock is also implementing a new VIP loyalty program, a $1 million rake chase, and a new Internet poker tournament format that starts with a $100,000 Guaranteed Superstack event on June 3, according to Gambling911. No word yet whether the LOCKOPS tournament series will be reinstituted after Merge put the kibosh on that event just prior to Lock’s decision to leave the Merge Network and acquire Cake.
“The world of online poker has been overwhelmed with so much disappointment and broken promises,” said Lock CEO Jennifer Larson, in reference to Black Friday and the Full Tilt debacle. “We understand the incredible desire for players to be given some hope and reassurance. Lock and Revolution Gaming are passionate about bringing back the players’ trust, excitement and sheer fun that feels like a distant memory. Its time for a Revolution!”
The rakeback payout scheme at Revolution Gaming is said to be via a deposit to player accounts every Wednesday. More details on the changes to the Lock VIP program should be forthcoming prior to the June 1 launch date.