50% bonus on profits ?!?
 

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

Re: 50% bonus on profits ?!?
 

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.

Re: 50% bonus on profits ?!?
 

Woah, really nice analysis.

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

Re: 50% bonus on profits ?!?
 

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.

Re: 50% bonus on profits ?!?
 

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

Re: 50% bonus on profits ?!?
 

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

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

Re: 50% bonus on profits ?!?
 

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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.

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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.

Re: 50% bonus on profits ?!?
 

How long have you worked for codepoker?

PS: Sorry for bumping this SPAM thread.

Re: 50% bonus on profits ?!?
 

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.

Re: 50% bonus on profits ?!?
 

[ 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.

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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.