FT decided to add a minor rewards system that they call the Black Card.  Basically, it gives you double FT points and allows you to finally exchange those points for cash.  I've seen a whole bunch of confusing calculations in 2+2 so I decided to do my own estimates of monthly benefits on FT.  This will also give people new to FT an idea as to what a full-time midstakes grinder's rewards profile is on FT.

(A) Rakeback: $14,750 rake x .27 = $3,983 [27.0% rakeback]
(B) Rake Race: $1,000 [6.7% rakeback]
(C) IronMan Medals: 1500 medals / 3000 x $600 x .73 = $219 [1.5% rakeback]
(D) IronMan Bonus: $75 [0.5% rakeback]
(E) FT Points: 133,000 points x 1.25 x .00455 x .73 = $552 [3.7% rakeback]
(F) New Black Card: $552 / 1.25 x 0.75 = $331 [2.2% rakeback]
TOTAL REWARDS = $3,983 + $1,000 + $219 + $75 + $552 + $331 = $6,160 [41.8% rakeback]

In case you were wondering about the FT points calculations, the 1.25 multiplier is to account for the various Happy Hours (usually 6 hours a day, not including the 1/2 hour rush happy hours several times a day).  The 0.00455 multiplier assumes I use the FT points to buy $75 tourney tokens.  Hopefully, the Black card exchange rate will be 0.005, but that's still only a 10% increase from purchasing tourney tokens.

So for me, the Black Card is not that much of a big deal.  The extra 2.2% in rakeback (2.8% if the cash exchange rate is 0.005) surely isn't going to make a difference in where I choose to play.  I also think fears that all these regs will come flocking from other sites is unfounded.    Even if there is an additional influx of "regulars," they can't be very good regulars if they are going to be so moved by 2.2%.

But it's a nice gesture by FT.  They certainly didn't *have to* offer any new rewards.  But it's a *slight* disappointment, as they had been talking about the "new exciting rewards program" for almost a year now, and it's 2.2%.  Kind of like getting underwear for Christmas...  not the good kind.

Of course, the final details of the program won't be released for a few details. But I'd be chocked if the details were much different.