Friday, January 14, 2011

FT finally came out with the details of its rewards program, so I thought I would take a look at what I *think* my rewards will be if I played on FT the rest of the year.

BlackCard:  They added a 3x and 4x tier to the program.  So now, I will be getting almost double the number of FT points as before.  120K hands a month (which is my goal) coincidentally for me is approximately 120K FT base points.  So assuming I play 100% FR and happy hour occurs 25% of the time:
   OLD: 120,000 points x 2.25 x .00455 x .73 = $897
   NEW: 120,000 points x 4.25 x .00455 x .73 = $1,675
so +$778 a month.

Ironman:  They instituted a Ironman Plus level at 2000FTPs/day so my medals per month should take a huge spike up:
   OLD: 800 medals / 2000 x 100,000 x .00455 x .73 = $133
   NEW: 1240 medals / 2000 x 100,000 x .00455 x .73 = $206
Also, it's easier to get Ironman now that you only have to play 20 days to get Ironman (at 500 points), so that should add another $25 per month.  So +$98 a month.

Anyway, it's another $876 a month or so for me from just a few month ago, so it's all good.

Here is the link to my previous calculation, which showed that my overall rewards was 39.6% of the old *dealt* rake.  Since then, a few things have changed with my play: fewer hands expected per rmonth, almost no 6max, playing slightly tighter (so even lower rakeback), etc.

(A) Rakeback: $10,800 rake x .27 = $2,916 [22% dealt rake ($13,255)]
(B) Rake Race: $900 [6.8% dealt rake]
(C) IronMan Medals: 1240 medals / 2000 x 100,000 x .00455 x .73 = $206 [1.6% dealt rake]
(D) IronMan Bonus: $100 [0.8% dealt rake]
(E) Old Black Card: 120,000 points x 2.25 x .00455 x .73 = $897 [6.8% dealt rake]
(F) New Black Card: 120,000 points x 2 x .00455 x .73 = $797 [6.0% dealt rake]
TOTAL REWARDS = $2,916 + $900 + $206 + $100 + $897 + $797 = $5,816 [43.9% dealt rake]

But with all the changes, I now see myself making 43.9% of the old "dealt" rake.  So basically, I am 3-4 percentage points of dealt rake better off than I was at this time last year, so I'm somewhat happy.  It's funny that the dollar amount is a little lower than my previous calculation, but it's mostly because I'm assuming fewer hands, lower WC rake than before and no 6max.  I was never expecting FT to catch up to Poker Stars' SNE in terms of rewards.  FT has the added overhead of the affiliates and their focus has never been to attract the mega grinders.  But 44% is somewhat close, and if for some reason I switched over to 6max, I would be closer to 50%. 

But my first priority right now is to get in more hands.  I'm on an absurdly low pace right now 21K hands halfway thru the month is probably my slowest pace ever.

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