Party Poker has released details of a new opt-in cashback rewards program that returns up to 40% of the rake and fees paid by players each week.
Starting next week, you could be in for a nice cash addition to your bankroll every Monday if you play at Party Poker. The site has released details of a new cashback rewards program that replaces its existing loyalty program and returns up to 40% of the rake and fees paid each week, with no limit on how much you could receive.
There are a few important differences between Party Poker´s cashback rewards program and a traditional rakeback program, and the short-notice announcement of the new cashback rewards program only gives players a few days to cash in their existing Party Points. The site is however holding a “Loyalty Store Closing Down Sale” with a 10% discount available on selected tournament entry tickets.
How Party Poker Cashback Rewards Work
Once you have opted into the promotion, Party Poker will award you one point for each $1.00 of rake you generate or tournament entry fee you pay. Provided you collect a minimum of 25 points during the week (up to 23:59pm CET) on Sundays), Party Poker will pay a cash sum into your account each Monday according to the table below:
Once you reach 2,000 points (cashback $800.00), the cashback offer continues in increments of 200 points – each increment subject to 40% cashback. However, you will not receive cashback for any points between payment tiers. For example, if you collect 240 points within a week, you will receive $50.00 in your account for reaching the 200 points tier. The remaining 40 points expire.
In order to take part in the promotion, you can opt-in at any time before 23:59pm on a Sunday. The points you have already earned during the week will count towards your weekly total. The opt-in requirement may be only temporary. Noises made by Party Poker would imply their technical staff did not have the time to remove it before the new program was launched.
Don´t Miss This Weekend´s PowerFest Climax
Party Poker´s $20 million guaranteed comes to the end of its two-week schedule this coming Sunday, but, so far, the series has not been going well. Many events at all buy-in levels failed to reach their guarantees during the opening week, and last weekend was a very expensive one for the site. Thirteen of last Saturday´s nineteen PowerFest events failed to reach their guarantee, and eight events on Sunday had substantial overlays – including a $132,000 overlay in a million dollar guaranteed event.
This coming weekend sees a clash of the titans. Party Poker has four $1 million guaranteed events scheduled for Sunday that coincide with seven events guaranteeing $1 million or more in PokerStars´ SCOOP and the $1.5 million guaranteed Main Event in 888Poker´s XL Inferno series. Some, if not all of Party Poker´s feature events, are unlikely to meet their guarantees.
Therefore, if you want to take advantage of the likely value at Party Poker this weekend, make sure you visit the Party Poker Loyalty Store and exchange any Party Points you have left for PowerFest entry tickets at discounted prices. If you have already spent your Party Points, the site has scheduled some very attractive satellites guaranteeing seats into the target events. It should be easier to qualify for the more valuable tournaments at Party Poker than it will at PokerStars or 888Poker, and therefore potentially a very lucrative weekend at Party Poker.