- Online poker operator, partypoker has debuted its new cashback reward program
- Gives players the opportunity to make between 20 and 40% of their bets back
Online poker operator, partypoker has launched a brand new rakeback system. The program, which partypoker is calling ‘cashback reward program’ will enable its players to make back between 20% and 40% of their bets each week.
Beginning at 00:01 (Central European Time) each Monday, players’ reward points will start to accumulate. These points are given out by partypoker at a rate of one point for every $1 that a player earns from tournament fees or cash games.
Then, at 23:59 (CET) on the following Sunday, players’ collected points are converted into cash, which is then credited directly to their betting accounts. As an example, a player earning 25 points each week can earn $5 back from partypoker. This rises to $10 for a total of 50 reward points, and increases accordingly at a 20% cashback rate.
At this point, you’re probably thinking that it sounds too good to be true. Well, it only gets better. If lucky players manage to hit 100 reward points, the cashback rate rises to 25%. Then, at 600 points per week the player is rewarded 30% cash back, and at a whopping 1,200 points, partypoker rewards the player with a generous 40% rate of cash back.
So, what’s the catch?
Well, it’s not so much a catch than a technicality. The new system from the online poker provider doesn’t reward players for the exact amount of points they have earned through the week, rather, for the points landmarks they have hit.
For instance, if a player collects 430 reward points throughout the week, they are credited $100 instead of the $107.50 that you might expect. This is because they have hit the 400-point milestone but have not quite achieved the 450-point sweet spot.
Perhaps somewhat frustratingly for the player, it seems that the remaining 30 points would be forgotten about. The rakeback gaps between reward thresholds rise with each cashback percentage. For 20%, it’s 25 points, and for 25%, it’s 50 points.
Rising accordingly, the thresholds widen to 100 points for 30%, 200 points for 40%, and, once the player hits 2,000 reward points, the player will continue to earn 40% for every 200 points they accumulate.
It is also worth noting that these rates are not marginal; going from 20 to 25% will earn the player a 25% total, as opposed to 20% for some points and 25% for other points.
How do you get started?
It’s important to note that this feature will not just automatically kick in. Players wishing to take advantage of partypoker’s new cashback reward program will need to go to the rewards section on the site to opt in each week. That’s for the moment anyway.
This is said to be down to a technical fault that is currently being resolved by engineers. A spokesman for partypoker has said that having to opt in every week to activate partypoker’s new rakeback system won’t last forever.
If you’re reading this and it’s not Monday, that’s OK. You don’t even need to wait until the next Monday to come around to start earning your cash-back. Opting in half way though a week will still count all of your accumulated points for the previous days.
Want to try an online casino?
Choose an approved casino from our carefully selected list. VIEW CASINOS