No one knows exactly how this is going to work. I won't claim to, but i'm gonna talk about it. The Gold Coin idea is there as the way of operating under sweepstakes laws, where you purchase a currency of no value, and are gifted sweepstakes entries. https://pokerfuse.com/latest-n...

No one really seems to have a good sense of what an alternative model may be, but today is the day that it ends and a "game changing" new feature will replace it.

My best guess is that they have come up with another system which they still feel falls under sweepstakes, but sidesteps specific languages in bills like we're seeing in California. https://pokerfuse.com/latest-n...

Maybe it'll be a .... triple currency system?

There's really only three other models that i know to exist that CWG could adopt, and none of them really fit. First is of course traditional subscription sweepstakes, which seem to mostly be getting a pass with recently regulatory action.

But that area is already well catered by the original ClubWPT site. And it just doesn't pull in the numbers required to fuel the games that CWG are putting on.

To compare: - ClubWPT (original) offers $100k in prizes a month - CWG: just did its second SC 14 million tourney series https://pokerfuse.com/news/liv...

The second options is just straight up offshore/unregulated real money online gambling which... yeah i mean that's the "default" if you just end Gold Coins and can directly buy/sell "sweeps coins". Can't see that being WPT's move given how front-facing the company is in the US

I guess there's a 2b option here where you add in some crypto shenanigans, wave your hand and say its not real money gambling now. But that's still basically offshore real money gambling.

There's a third option which is sort of interesting, which i call the Texas Card Club model, and is used by Hijack Poker. This is an online extension of Texas Card House, which runs six card rooms in Texas.

Card rooms in Texas operate in a same way we see them in California and elsewhere. Gambling is illegal, but there's carveout - as long as they are private, pvp, and no one "receives economic benefit" from offering the games, it's okay. https://pokerfuse.com/live-pok...

So card clubs are members only, and don't charge a rake. But the organizers will make money through other services, like membership fees, hourly seating charges, concessions, etc. It is still something of a legal area. Raids have happened, but card clubs general prevail.

Earlier this month, Texas Card House won a 3yr legal battle against the city of Dallas regarding its licensing. Good reporting from @PokerNews here :- https://www.pokernews.com/news...

So anyway, TCH also has extended this concept to Hijack Poker, which takes this concept online. This site runs cash games and tournaments. You can deposit with credit card, at the cage at any TCH card club. Rake free, but w/ hourly seat charge (billed in 6 min increments)

So there's a chance here CWG is looking at this model. They obviously have close ties: - Polk is their big ambassador, - Is owner of Upswing, which was just bought by CWG - Owns competing card club in Texas https://pokerindustrypro.com/n...

Notably, Polk's Lodge Card Club is hosting WPT at Lodge at end of this month, the first held in the state. https://pokerfuse.com/latest-n...

So technically, CWG could be looking at this model buuut... i mean, lets just say it's legally untested? I'm no legal expert but extending the TX penal code carveout into an online setting seems up for debate? At least it seems on less strong legal footing than sweeps.

Notably, Hijack offers deposits with CC but cashouts are only at the cage or with crypto. Also, presumably it is only open to members, and geo-restricted to Texas? The latter making CWG a non-starter. So yeah honestly i can't see this being a model for success.

So in summary - honestly, no idea what's coming. ClubWPT Gold without Gold is going to be a thing later today. They say sweeps coins will remain, and there has to be a method of obtaining them free, and through an indirect manner, non-purchased manner, to be sweeps gaming.