The old rakeback system that was in place at the previously owned Full Tilt Poker is set to replaced by the new ownership of PokerStars. The new system will be more of a VIP system that will allow players a 25% rakeback that will go directly into their accounts.
Additionally, the old Iron Man promotion will also cease to exist, this promotion rewarded players who came back to the site and played every day. The final promotion is the highest level Black Card promotion, which will not be available initially yet, will be re-introduced a little later on.
The previous rewards program allowed for a generous 27% rakeback, though it was only available to anyone who had previously signed up through one of their affiliates. So in essence if you signed up to the site in any other way you were not able to receive any form of rakeback rewards.
The New Rakeback System!
The new rewards system will fall more in line with the one that PokerStars runs on its poker site, the rewards are all kept in-house and will reward each player dependent on how long they play.
It will work by Full Tilt Poker automatically crediting player’s accounts once a week dependent on how many Full Tilt Points they have earned, the highest rate they can receive is $2.50 for every 100 FTP earned, which works out as 25% rakeback.
This new scheme will also reward players more for how much they spend rather than how much they play, which is a similar system used on their site. When they initially changed their own system from rewarding longevity to rewarding how much spent it did cause a little controversy on PokerStars at the time until PokerStars compensated by introducing a rake reduction.
The New Scheme Was Actually About To Be Implemented By Full Tilt!
When PokerStars announced these changes they were quick to point out that most of the work on this new scheme had already been done by the previous owners of Full Tilt. They looked at the scheme and decided to continue working on it and have now decided to introduce it.
This falls in line with PokerStars saying that they are not going to make too many initial changes to Full Tilt Poker, as there wasn’t really anything wrong with the site or how it worked. They obviously stopped short of saying it was the owners that were the ones that were wrong, yet that’s diplomacy!
The excitement is already heating up in the online poker community as Full Tilt nears its re-launch in just a few weeks time.