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  1. PokerShare PokerShare is offline

    Posts: 13
    Joined: Sep 05

    Sep 23rd, 2005 (9/23/2005 2:08pm)

    <SPAN lang=EN-GB>Some people have been asking about how the Share element of PokerShare works, I hope this information helps.</SPAN>

    When you sign up as a player to PokerShare.com you become a member of the Poker Share Trust.

    The Poker Share Trust has been set up to distribute 40% of the profits from PokerShare.com to the players. Simply speaking, its what makes PokerShare.com work.

    Every 3 months, the Trust distributes its share of the profits to the beneficiaries that means you, the players of PokerShare.com. When you play on PokerShare you earn Ultimate Points. For every ultimate point you earn, we give you one SHARE POINT (you can check your share points in the My Share section of the website).

    Unlike Ultimate Points, your SharePoints cannot be gambled with or exchanged for merchandise, remember, even if you gamble with your Ultimate Points, win or lose, your Share Point total doesnt change.

    At the end of every 3 month period, the PokerShare Trust calculates how many Share Points are in circulation (e.g. 100,000) and divides 40% of PokerShare.com profits (eg.$10,000) by this number<SPAN> </SPAN>to give each Share Point a monetary value (10c). So if each SharePoint is worth 10c and you have 1000 Share Points, then you are entitled to 1% of the Trusts profits - e.g. your share will be 10c x 1000 = $100.

    If after the next 3 months the total Share Points in circulation has risen to 300,000 (an increase of 200,000, or double the last quarter) as the player base has increased and you again earned 1,000 SharePoints this quarter, then your total SharePoints is 2,000. Your share is now 2,000/300,000 (e.g. 0.66%). Notice your share has dropped, HOWEVER, as there have been more players and twice as many SharePoints earned in total the profit to be released will be higher. Therefore, lets say the Trusts profit has increased to $21,000. Now notice this is more than double that of $10,000, this is because the revenue has doubled, but the overheads (costs) have not increased at the same rate.

    So this quarter each SharePoint is worth 7c ($21,000 divided by 300,000) and you have 2,000 SharePoints, then you are entitled to 0.66% of the Trust profits e.g. your divided will be 7c x 2000 = $140

    Please note that if you played less than the month before (e.g. you only earned 250 points) then your total share would have fallen. For example in this scenario, each SharePoint is worth 7c, so your dividend will be worth 7c x 1250 = $87.5

    So the more you play, the more you earn.

    <SPAN>As time goes by and more points are accrued, if you continue to play at the same level your share will reach some equilibrium. Even though your percentage of the profits may well decrease, there will be more money to be divided out. </SPAN>

    <SPAN> </SPAN>

    <SPAN>Please also note that if you do not play a single hand over the previous three months then you are not eligible for that quarters dividend. This means that your loyalty to the site is rewarded and your share is not given away to those who play lots for three months then never again!</SPAN>

    <SPAN>
    The first dividend will be paid in early December. We will notify all members well in advance of the exact date.</SPAN>

    For more information on Share Points please check http://www.pokershare.com/pages/page370.php

    <SPAN lang=EN-GB>Sign-Up and Transfers</SPAN>

    <SPAN lang=EN-GB> </SPAN>

    <SPAN lang=EN-GB>If you have a UB account and open a PokerShare account, and you transfer money between the two, these do not as first deposits and are therefore NOT eligible for bonuses. You must deposit money via conventional means to be eligible for a bonus.</SPAN>

    <SPAN lang=EN-GB> </SPAN>

    I am glad to see so much interest and enthusiasm for PokerShare and hope I have answered your major questions.

    I also hope to see you all on the PokerShare tables, but best of luck wherever you play.

    Kind regards

    Max Wright

    Director of Gaming
  2. Tsupa Tsupa is offline

    Mustang, OK
    United States

    Posts: 4,666
    Joined: Aug 05

    Sep 23rd, 2005 (9/23/2005 2:11pm) in reply to PokerShare

    Can you address the concerns in this thread?

    http://www.pocketfives.com/3C741190-...09782E74A.aspx
  3. sweeet_pea sweeet_pea is offline

    MI
    United States

    Posts: 1,025
    Joined: Mar 05

    Sep 23rd, 2005 (9/23/2005 2:23pm) in reply to PokerShare

    Hi Max,
    Thanks for taking the time to clarify some of the many questions that people have had about the site. I would like to voice a frustration to you and hopefully something can be done about it. Recently when I went to deposit on pokershare I used the same credit card that is used on a Ultimate Bet account that I have. Well, evidently the credit card transfer can not go through because it is already being used on the Ultimate Bet account. I think this is something that should be fixed because many of your customers will be original UB players who move over to pokershare. It is a matter of convenience and making it more difficult for your customers to deposit provides a hassle for some which could deter them from playing on pokershare. Once again thank you for taking the time to explain things.

    sweeet_pea
  4. philo beddoe philo beddoe is offline

    Posts: 61
    Joined: Feb 05

    Sep 26th, 2005 (9/26/2005 12:25pm) in reply to sweeet_pea

    <SPAN>help - I tried to deposit today using firepay but was denied because my firepay account was associated with an existing account. Seems like a big hassle for to open another account with Firepay or Neteller. Any ideas? Please guide me to the thread that answers this if one exists.

    thanks ,

    Philo</SPAN><SPAN></SPAN>
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