Cake Poker announced on Thursday that it had launched The Exchange, a new marketplace in which players can buy or sell Gold Cards. The Gold Card system randomly distributes collectible rewards to players who are seated at all real money ring games on the USA-friendly online poker site.
Gold Cards have been a part of the Cake Poker Network since it opened its doors over four years ago. The cards are awarded faster at higher stakes games and, although the type of Gold Card awarded is random, the odds of receiving each one vary based on its value. More Gold Cards will be handed out at higher-stakes games because the rake will increase more quickly. Gold Cards can be used for entry to high-value tournaments and can now be traded at The Exchange, where players can sell their Gold Card collections for cash or buy other players’ Gold Cards to gain entry into special tournaments.
“I am more excited about The Exchange than any promotion or feature I’ve seen in seven years in the online poker business,” said Cake Poker Card Room Manager Lee Jones. “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 of the Gold Cards and we’ve already seen arbitrageurs trading to profit from card price fluctuations.”
The Exchange gives all players access to Gold Cards, whether they want to use them for Gold Card buy-in tournaments or as an investment. It also lets players who are not interested in playing tournaments put them up for sale and turn them into cash. More than 66,000 Gold Cards had been sold on The Exchange in the first week. There’s even a running Gold Card Exchange thread at TwoPlusTwo where members can discuss the value of their cards and make transactions.
One example of how valuable Gold Cards can be: A buyer purchased five cards for just $0.40 each and was able to sell them for almost $12 apiece to players seeking entry to a Gold Card tournament. That’s a profit over 2,000%. Another player has added $752 to his bankroll with the sale of his Gold Cards.
The benefits of The Exchange are not only being enjoyed by the sellers; Gold Cards required for upcoming Gold Card tournaments have been selling for substantially less than the actual value of the seats, making the tournament buy-in immediately profitable for the Card purchaser.
Before buying or selling Gold Cards, a player can visit The Exchange as an observer to get a feel for how the process works. For complete details on how to access The Exchange as well as a demonstration video by Lee Jones, visit Cake Poker.
