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OAKLAND PARK, Fla. (Gambling911.com) - A major controversy blew up in the poker world in recent days that came to a head on Tuesday.
Poker advocate Todd Witteles posted on X that there could be "possible major liquidity problems" at ACR Poker.
That company's CEO, Phil Nagy, confirmed there are no such liquidity problems.
The issue arose after a high stakes sports bettor was erroneously told by customer service that website policy required him to generate at least 10 percent rake on his winnings prior to making a withdrawal. In this case, that would have amounted to $15,493 in rake. The actual amount he would have had to bet would likely be in the area of 1 to 5 times that number.
Nagy clarified Tuesday afternoon.
"Some of our Customer Service representatives misunderstood how the requirement should be calculated and gave the player an incorrect figure based on his sportsbook winnings. That was wrong. The requirement is based on 10% of the player's deposits — not 10% of his winnings."
Gambling911.com can independently confirm that policy was in existence two weeks ago upon a routine check of their rules and regulations with ACR Poker returning as a sponsor of the Gambling911.com website this month.
The rule was also in affect four years ago when a Redditor complained about it. At the time, other Redditors were more sympathetic to ACR.
One wrote:
" This is standard practice on every site I've seen. Its purpose is to prevent money laundering. If you need to rake $25 quickly then you can play around 600 hands at 50NLz. Average rake is around 8.04 bb/100 ($4.02/100)."
Another offered this:
"This is standard practise to cover their costs. When you deposit Money you get the same money as balance. But depending on which methode you use(crypto, credit card) there are fees (usually around 5%) which are covered by the poker company. To prevent them from losing money you have to rake usually double (sometimes 4x) that fee amount before you withdraw. So in your case prolly 10% of what you deposited."
Nagy actually claimed the rule has been in place for as long as he has been with the company, and explained the rationale.
"For a long time, ACR has required players to generate poker rake equal to 10% of their deposits before withdrawing. That requirement exists in part because we're a poker-first business, and it also helps prevent our platform from being used simply as a vehicle for moving money in and immediately back out."
And Nagy acknowledged the 10 percent rake policy might not be appealing to everyone.
"We understand that some people may disagree with that policy. That's fair. But disagreement with a withdrawal requirement is very different from ACR being unable or unwilling to pay its players.
"We're also reviewing the wording across our Terms & Conditions, help materials and Customer Service procedures so that there is no ambiguity about what is required, how it is calculated or when it applies.
"We should have communicated this particular case better from the beginning, and I apologize for that.
But to be absolutely clear: this is not a liquidity issue, and ACR is not refusing to pay this player."
The affected player did confirm he was paid his winnings on Tuesday following the initial confusion.
Another player asked for clarification as to when they could withdraw based on his own situation.
"You guys allegedly dont count mtt rake into the rake that needs to be cleared... if i deposit $50 and play a $50+5 and win the mtt for lets say $1,500, your guys say i havent paid 10% rake on the deposit. "Explain how im not paying/generating the rake it in the 50+5??"
Nagy responded: "Yes it is a 1 x rollover deposit 55 play a 50+5 . win a billion cash out done."
- Ace King, Gambling911.com
