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

[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.

[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 at 35% and 30% at royalvegas.com.

[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 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 offers a 600$ deposit bonus and that 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!

[Moneyline]

How long have you worked for codepoker?

PS: Sorry for bumping this SPAM thread.

[May]

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