Microgaming Responds To 5050 Poker ClaimsPoker Network Refutes “Fines” Allegation |
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The ongoing saga of 5050 Poker’s excommunication from the Microgaming Poker Network took another twist on Wednesday when the latter issued a statement refuting 5050 Poker’s claim that it paid €150,000 in fines to the network.
Microgaming said 5050 Poker took part in its “rake reconciliation” which redistributes funds between operators on the network.
The full statement from Microgaming, which suspended 5050 Poker just under one month ago, said, “5050 Poker did not pay €150,000 in fines. From April 2010 to June 2012, a system of reallocation of funds between Operators, called “Rake Reconciliation”, was used on the Network. Rake Reconciliation corrected the imbalance that occurs in a poker network ecosystem when rake is the only valuation metric. Similar methods are in use on other networks and are industry standard.
“It is this system of funds reallocation that is referred to in 5050 Poker’s statement, not “fines”. It is important to note that the reallocation of funds takes place between Operators within the Clearing House bank account, which at no time holds player balances from any Operator on the Network. MPN cannot access an Operator’s player accounts.
“The suggestion that MPN imposed a simultaneous table restriction on 12 June 2012 without prior warning is incorrect. On 4 May 2012, all operators on the Network, including 5050 Poker, were notified of the restriction rule, which states that the number of simultaneous tables a single player may play on an operator may be temporarily reduced for the betterment of the network ecology.
“The specific application of this rule to 5050 Poker was notified to them mid May, and put into effect in June. The rule was put into action with three operators, one of whom was 5050 Poker.”
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