50% bonus on profits ?!?

Codepoker offers a 50% bonus on profits. What do you think of it ?

[Benholio]

While I'm not sure this 1-post poster isn't a Code Poker rep sent to advertise their new site, I will go ahead and report on what I found at their website.

1) Code Poker is apparently on the Prima Network.

2) The bonus works as follows: If you play 1500 raked hands during the month of September, you are a "Gold" member. Gold members, for September, get 50% of whatever they added to their account as a bonus, up to $300. The terms do not state if these are contributed raked hands or not.

So, what it breaks down to is a $300 bonus on x raked hands, where x is a number between 1500 and how long it takes you to win $600.

They also have a $50 deposit bonus, but this is counted towards the $300 bonus cap for the September bonus. The deposit bonus clears at the following number of contributed raked hands (min .25 rake):

0.25/0.50 - 1500 contributed raked hands
0.50/1.00 - 750 contributed raked hands
$1/$2 - 500 contributed raked hands
$2/$4 - 375 contributed raked hands


Final Thoughts:

Signup bonus = worthless.
The september "Gold Bonus" will take anywhere from 1500 to 99999 hands to get the maximum value of $300. If you play $2/$4 and win 3bb/100, it will take you ~2500 to make $600 profit in order to maximize the bonus. However, if the raked hands for "Gold Bonus" are contributed raked, it will take much longer than this just to reach the 1500 required. Lets not even think of what happens if you run bad during this period. As an extra kick in the ass, you get little/no bonus for running bad.

What sounded very interesting is quickly revealed to be a poor bonus.

[whittiphil]

Woah, really nice analysis.

Yeah, it's basically [censored]. Rakeback is better.

No, I am not a Code Poker rep...but i think YOU must be an online poker room rep to post such answers !

I'll wait for some other inputs but thanks for your analysis.

[May]

I already play on this site.

I called them with regard to contributed hands? The answer is that the profit on such hands count, i.e. profit that you make when there's no flop or profit that you make in tournaments.

I play about 2000 raked hands a monthfor six months, but unfortunately never managed to win more than 600 in one single month. I however regularly end up the month around up 200 which means that i will get about 100 more as a bonus.

For a serious bonuswhore 1500 raked hands means that the poker room will make between 40-60 dollar as a rake. Let's say you get a 25% rake-back, you will only end up with 10-15 dollars back + the 50 deposit, which is still less that a bonus on profit.

I think that if you belive you are good enough as a poker player to make profits then this bonus really makes sense. However, if you suck and just come for the deposit bonus then it does not make sense.

May

[pokerrookie]

[ QUOTE ]
Codepoker offers a 50% bonus on profits. What do you think of it ?

[/ QUOTE ]

Why would a site only give bonuses to winners? That seems a bit backwards.

[Benholio]

[ QUOTE ]
For a serious bonuswhore 1500 raked hands means that the poker room will make between 40-60 dollar as a rake. Let's say you get a 25% rake-back, you will only end up with 10-15 dollars back + the 50 deposit, which is still less that a bonus on profit.

[/ QUOTE ]

A serious bonus-whore plays very few hands at a low rate like 25% rakeback. A serious bonus-whore is making 60-150% rakeback most of the time.

[Moneyline]

How long have you worked for codepoker?

PS: Sorry for bumping this SPAM thread.

[May]

a winner tend to play more often than a loser. Second, a winner does not do too many deposits, which is what is killing the rooms because of the huge fee that they are charged.

[imitation]

[ QUOTE ]
a winner tend to play more often than a loser. Second, a winner does not do too many deposits, which is what is killing the rooms because of the huge fee that they are charged.

[/ QUOTE ]

Wait up I think the huge rake that you charge would cover those fees...Forgive me for thinking online poker sites don't have huge overheads.....Oh they don't really, yet charge as much rake as most B&M casinos.

[May]

wrong benhilo!

you give a rake back higher than 100% only if you want to generate traffic in your room. Why would a prima site give such a rake-back when they do not need more traffic (i.e. they have already 10'000 player at any given time)

Then imagine such player get 60% rake-back on the 60$ he raked. That makes 36$ back + the deposit bonus, which is still less than what you get with the profit bonus especially if you know that you also get the deposit bonus.

Can you give me the name of a room that offers 60% rake-back? The highest i know of is www.gamingclub.com (http://www.gamingclub.com) at 35% and 30% at royalvegas.com.

[May]

lol. I also want to point out that www.fulltiltpoker.com (http://www.fulltiltpoker.com) offers a 600$ deposit bonus and that www.empirepoker.com (http://www.empirepoker.com) offer a 100% matched deposit bonus... I also play at those sites and can recommend them.

[Benholio]

[ QUOTE ]
wrong benhilo!

[/ QUOTE ]

Hey, maybe I will use that name next time I feel like playing some Omaha/8.

[ QUOTE ]
you give a rake back higher than 100% only if you want to generate traffic in your room. Why would a prima site give such a rake-back when they do not need more traffic (i.e. they have already 10'000 player at any given time)

Then imagine such player get 60% rake-back on the 60$ he raked. That makes 36$ back + the deposit bonus, which is still less than what you get with the profit bonus especially if you know that you also get the deposit bonus.

Can you give me the name of a room that offers 60% rake-back? The highest i know of is www.gamingclub.com (http://www.gamingclub.com) at 35% and 30% at royalvegas.com.

[/ QUOTE ]


A bonuswhore gets 60%-150% of his rake back by whoring bonuses. It is what this forum is about. But of course, you would know that, since you are just a regular reader of this forum who decided to stop lurking so you could post about a site you incidentally heard about, and then defend its crappy bonus against the regular posters analysis of it.

Lots of bonuses (most of the ones that get mentioned here, even) are worth 60% or more of your rake. Party/Empire skin bonuses are higher than 100% rakeback at some levels, and they certainly aren't struggling for traffic.

Any low limit player (0.5/1 to 2/4, NL25-NL100 type limits) can get 50%+ of their rake back on 25,000+ hands a month by whoring bonuses. Any high limit player is going to make much more with a real rakeback deal (not limited to $300).

[ QUOTE ]
lol. I also want to point out that www.fulltiltpoker.com (http://www.fulltiltpoker.com) offers a 600$ deposit bonus and that www.empirepoker.com (http://www.empirepoker.com) offer a 100% matched deposit bonus... I also play at those sites and can recommend them.

[/ QUOTE ]

Thanks for these cutting edge tips! Time to jump on these bonuses before anyone else hears about them!

[Benholio]

[ QUOTE ]
How long have you worked for codepoker?

PS: Sorry for bumping this SPAM thread.

[/ QUOTE ]

Hey, May is just looking out for us. For instance, this advice from a couple months ago, on how we can increase our average winning rate by 33%!

Why would someone working for codepoker.com post something like this??

[ QUOTE ]

I usually play on party or stars and manage to be flat for the past 18 months. Last months I started to play on this site called codepoker.com and realized that my average winning rate went up by more than 33%. I heard that lots of european players play on this site and that the level of play is accordingly much lower. Has anyone had the same impression or was just luck on my side during the last months?
Thanks for your reply.

May

[/ QUOTE ]

Thanks for the feedback. I think I'll use the $50 deposit bonus to try to get as much as possible on this 50% bonus on profits. Then I'll find another room with such opportunities.

[theben]

i think it blows

Obviously I spend more time at tables than on forums. Anyway, with a $50 credit (deposit bonus), there is a good chance to reach $500 and then the $250 extra bonus. That's why I think good players might consider it.

[Benholio]

Yeah, the great $50 you keep bringing up, clears at about the slowest rate of any bonus I've ever seen.

[chessmaster]

With a big bankroll it could be worth to sticky this up.
Deposit $600 each month and try to double it up quickly with SNGs (if you are good at them). If you manage to double up 50% of the time you have a 5x (I assume this is not contributed?) $300 bonus every second month.
Variance would be pretty high though.

[Benholio]

The problem with that is that you would have to play SNGs long enough to get the $600 AND play the 1500 raked hands. I have a feeling the 1500 hands are contributed, too, since the signup bonus hands are contributed. Even a solid winning $100+10 SNG player (10% ROI) would have to play 60 tourneys on average to win $600. Not to mention the bankroll required to multitable SNGs at the $100+10 level.

You could play slightly more tourneys at the same level (~72 of them) to clear $300 at Full Tilt, regardless of how well you did, and with no ring game raked hands required.

[chessmaster]

But even a solid SNG player wouldnt get his 10% ROI steadily but with quite big swings, i guess there is enough variance in playing $100 SNGs to easily be ahead or behind 6 buyins short term quite often.
And yes you need a quite big Bankroll.
Another possibility would be to deposit each month for a few big MTTs and trying to get the $600 profit this way.
But if this is contributed forget about it, then its never worth it.

[Clownfish]

Anyone know of anysite that offers rakeback from codepoker? I searched around and couldn't find one anywhere. I think with decent rakeback, this could actually be worth doing.

[Clownfish]

Anyone????

[Clownfish]

One last bump to anyone who might know.....

I actually asked them. They give rakebacks on individual player's request under certain conditions, which I don't know.