Kid Poker’s attempts to offer cheap staking runs into problems
Daniel Negreanu’s staking system had a few glitches when accepting placements
Shortly before departing from PokerStars, Daniel Negreanu wanted to do something nice for his followers. He had already announced that he was going to try to run deep in this year’s WSOP, and would give those wanting to back him the option to purchase stakes with no markup. The plan was a good one, but apparently ran into a few glitches upon execution.
The server in place to police the staking was supposed to cut off requests when they reached $275,000. According to Negreanu, however, his popularity broke the system and the server ultimately collected $1.8 million.
Kid Poker then took the high road and decided to try to make amends for the glitch. He said in a tweet, “Working on a major problem. I have some awful news: Low sold in 1 min Med sold in 2 min Hi sold in 3 min. There was a software glitch on the new server. I’m going to cover the $60k in fees if necessary. Many of you will get a full refund.”
Negreanu had offered packages based on different levels of staking – Low Roller, Mid-Stakes and High-Stakes. After realizing the error and coming clean, he added, “I’m so incredibly sorry to those of you who bought a piece but won’t have any action. I think the only solution is to honor those that got in first and fully refund the rest of you. Will also figure out a way to make it up to those that got screwed.”
Negreanu will now need to figure out how best to offer staking opportunities in the future that actually work.