Overview of Party Poker Rakeback
This a new loyalty program on Party Poker that operates by rewarding players who go through the procedure of signing up for RakeBack. Among the various benefits of the scheme are the generous cash back returns that can be enjoyed by the loyal customers. The rate of cash back has been set at up to 30% if the player is gambling with the Party Poker group.
Other Details about Rakeback: There is an ongoing deal between us and Party Poker which allows players to automatically be registered for the Party Pokers reward system. The resultant points that arise out of participating in this scheme are redeemable in cash.
There are 6 levels to the loyalty scheme. The highest level is known as the Palladium Elite. On this level the customer can get up to 30% in cash back. There is a further enhancement in the form of the Palladium Elite club. In this club the rules state that those who use Party Pokers bonus system rather than the cash back system will be able to get up to 40% value back.
Party Poker and Rakeback Payment Systems
Under the system the minimum cash amount is set at $10 or alternatively 400 club points. The maximum is set at $15,000 or 100,000 clubs points. Furthermore those players under the Party Pokers bonus arrangement who to choose to use it rather than the direct cash route will be able to boost the value. The new minimum level will rise by 6.67% from the old level. However those on the Gold club may be able to increase their value by up to 12%. Players are allowed to buy bonuses as a means of further increasing their returns under the scheme. Under the system the bonus will be released in five installments. The players will have a grace period of about 180 days or six months to clear up their bonus. The points earned in the relevant period can count towards buying a new bonus.
Value Added Processes in Rakeback
The Party Poker partnership has sponsored two promotions. One of them is known in the gambling industry as added Rakeback value. There is also a Gladiator promotion where players need to play a standard amount of points on specific days so that they can reach their allocated monthly total. There is a wide range of prizes as part of the winning circle and these include into free rolls that can be worth a staggering $7500 in cash. Alternatively the points can be used to enter big events such as WSOP or Aussie Millions. There are plans to include the WPT events as part of the plans to completely revamp the Gladiator prize. The Gladiator is based on the rake race principle whereby the player will try to reach certain targets on a daily basis by improving his or her skills.
There is a cash machine which is similar to the system where players are rewarded with an increasing number of points as they play more games. There is a mandatory minimum of 10 playing days which have to be logged meticulously in order to avoid problems when claiming the prize. When the requisite period of playing has been successfully completed then Party Poker will pay out a one dollar figure per an accumulated point earned on the day with the least score.
Therefore if a player is able to earn five hundred points over nine days then the bonuses structure will look like this: On the first 200 points earned in one day, the successful player will be paid $200. It therefore becomes apparent that the cash machine promotion requires clever planning and a first class strategy in order to avoid playing too much money with the few hands over the mandatory days. If this strategy is not properly implemented then the bonus applications will not be worth much. The earnings can be ploughed back into earning even more bonuses if the player knows what they are doing. The methods of promoting this feature can appear to be indirect but the truth is that they are extremely lucrative and should be considered as essential to sustaining a great career in gambling.
Assessing the Traffic Levels: Because of its reputation and brand awareness, Party Poker hosts some of the most prominent tournaments online. This has led to a large number of ring games and tournament traffic streams. There is plenty to occupy the committed gambling player. This has led to an increase in the traffic levels.
Further Bonus Schedules: Players can sign up to the 100% bonus which can lead to a $500 extra on initial deposits. Furthermore the new players have access to 3 daily $100 free rolls. The selected top 50 winners are allowed to advance to a weekly $2500 free roll. This is set up to award seats to a $10,000 monthly free roll. In addition there exists a free roll frenzy for new entrants which last 60 days after the first deposit.
VIP Programs Now Have Competition : Party Poker has built its reputation as one of the world’s most prominent poker rooms. It is a given that the company will rank among the top 5 in terms of site traffic. The company has in excess of 100,000 players connecting at any one time during the peak times. The Party Poker VIP program has been compared unfavorably with some of its competitors including Poker Stars or Full Tilt. Party Poker has decided to offer what can only be described as a rough equivalent of “Rakeback”. The bonus runs on the basis of step up processes that offer increasing bonuses as you go up on the structure.
The Party Poker VIP Levels : The VIP system consists of nothing more than the five standard levels of Gold, Silver, Bronze, Palladium, and Palladium Elite. Moving through each level is relatively straightforward. As long as you are able to achieve the minimum amount of Party Points within the restricted allotted time, the levels will rise on a consistent basis.
Further Explanations : Under the revamped system there will be a 50% of increase in Party Points’ value. On the other hand the Rakeback will rise up by up to another 40%. There are a myriad of ways in which to earn Party Points. These may include participating in real money cash games, SNGs and other sundry tournaments. The points are ready to collect immediately after leaving the table/tournament. They can then be used to purchase items within the Party Points Store.
The Earnings Process: Party Poker has made the earning process a lot more user friendly than in was in the previous periods. This can only lead to an increase in customers and the loyalty that those customers display to the company. If you take the example of tournaments such as the SNGs, one Party Point is rewarded for every 50 cents deposited in tournament fees. So you can already see that there are opportunities for making large sums of money even before the player begins to wager on the table.
Cash games require a bit more involvement before they can yield substantial bonus results. In the cash games, the points are paid per number of raked pots that the customer has participated in. This means that the players have to effectively accumulate playing points by increasing their participation in the game. From the point of view of the gambling company, this is a master stroke because it ensures that there is always a steady stream of customers who know that the more the play, the greater the chances for winning. The bonus structure in this instance is a self perpetuating mechanism to retain customers for a long period of time.
The player is really free to decide what to do with their bonuses but it is generally advisable to re invest them into the game if you do not have a particular need for cash and are going to continue playing the game anyway. The bonuses will take 25% of their value in points to be cleared and are awarded into your account in 20% of increments.
The table above would indicate that the guiding principle that it is better to re invest the bonus parks rather than going back to cash when you are going to lose a significant amount of cash if you use that system. On the other hand you may make the calculation that the bonuses are so generous that you can afford to lose a few pennies here and there if it leads to a better experience with the gambling system.
Conclusion - Summary:
Poker players will be looking to improve their chances of getting a good return on their investment. The most common method to achieve this is to win big on the tournaments or alternatively to hit the jackpot. If you cannot do these two things then the bonus structures will find ways and means to compensate you. There is wide selection of bonus systems and they vary widely in terms of the payment structures that they implement. The important thing to remember is that each bonus structure will have some rules that have to be followed stringently. Furthermore it is quite possible that the bonus structures will be limited to certain players or certain games. It is up to the player to select the bonus that fits in with their system.
Party Poker has implemented a new system of getting even higher bonuses through the Rakeback system. There is a lot of detail about what needs to be done to win the bonuses but the basic premise is that the player is rewarded handsomely for playing. Even by the exceptional standards that have been set by Party Poker, these bonuses are astonishing. However they form part of the fringe benefits that are the heart and soul of modern poker. For those people who wish to make a statement about bonuses or alternatively those who wish to win big under the scheme, the Rakeback formula is the ideal place to test your metal.
The fair assessment of the Rakeback system is that it offers poker players the opportunity to make large sums of money on the back of previous playing periods. The wonderful thing about this system is that it even encourages new players to participate. The creators have achieved a creative way of giving the customers even more access to money making opportunities.
