Poker Rakeback Company Not Responding

Players and casino affiliates haven’t heard anything from employees at rakeupdate  and rakereduction. The lack of communication over the past few weeks has made them nervous. Most unsettling is that the poker software provider of the two sites discontinued services because the company wouldn’t pay up.

This has poker players wondering if the founder of the company has disappeared with the money he owes them. To date, it is thought that the companies owe over $1 million.

The company has been around for over six years. Concerns have been mounting over the past year:
Earlier this year, the company claimed to have issues with its payment processors. These issues seem to have stemmed from the changes in the employees running the firm. Players had to turn to other sites like Full Tilt Poker to get their money out of their accounts. Unfortunately, players had a number of issues with these real money poker sites as well.

The sites also had to keep paying back players even after Full Tilt Poker and other sites were shut down the FBI.
They were also stuck paying Full Tilt and Cereus Network for referrals they never received.

Rakeupdate.com and rakereduction.com are clearly being hammered by the financial woes they have experienced over the past five months. The potential scandal is likely to extend to other sites as well. Players on sites like Merge and Bodog are also likely to have trouble getting their money back. The issues facing Rakeupdate.com and Rakereduction.com could spread through the entire industry and its hard to know how far it will go.

The most successful affiliates have reason to be concerned. Some of them have earned tens of thousands of dollars. Affiliates are already concerned they won’t see their money back from Full Tilt Poker. Full Tilt has amassed a considerable amount of debt. Should the company ever open up again, it might not be able to pay back the money owed to players and affiliates.

All players know is the two sites are currently unavailable. Their homepages explain that the owner and marketing director of Elite Affiliate Software has discontinued the partnership with the rakeback company. The company have missed the deadline to renew the software.

This leaves players and affiliates what it intends to do. Some speculate the sites might be temporarily unavailable until they can make back some of the money they lost following Full Tilt’s legal battle. Failing to pay their affiliates just for a month might be enough to double their yearly income.

Everyone with a financial interest is wondering whether they will ever see their money again. Are these sites resolving their technical issues or are these the warning signs of a crisis?