Cake Poker’s EXCHANGE a big hit so far

Posted by Steve Ruddock on Nov 10, 2010 Posted in Online Poker News | No Comments »

It’s only been a week since Cake Poker announced the creation of “The Exchange” a peer-to-peer marketplace where players can buy and sell the Gold Cards that they have accumulated at the Cake Poker tables.

Gold Cards are awarded randomly at Cake Poker tables at sites like Doyles Room and players can use them to enter tournaments or redeem them for cash prizes, depending on the Gold Card redemption promotion Cake Poker is running –the redemption options change daily.

Now players can buy and sell Gold Cards at ‘The Exchange’, and Cake Poker is reporting that over 60,000 Gold Cards have already exchanged hands. The Exchange allows players to either sell off their Gold Cards, or to purchase one or two they may need to complete a certain redemption offer –For instance if you have the Ten, Jack, Queen, and Ace of Hearts and the daily prize is $2,500 for a Royal Flush in hearts you can go to the Exchange and try to purchase a King of Hearts instead of missing out on the cash-prize.

Cake Poker Card-Room Manager Lee Jones via a press Release had this to say on the success of The Exchange up to this point: “I am more excited about The Exchange than any promotion or feature I’ve seen in seven years in the online poker business… We are giving our players a virtually open market in which to buy and sell Gold Cards. I expect to see that market quickly find fair prices for all the Gold Cards and we’ve already seen arbitrageurs trading to profit from Card price fluctuations.”

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