Party Poker Launch New VIP Program With Up To 40% Cashback

Online poker grinders have been getting shafted as of late as the industry trend has been tipping the tables in favor of recreational players, but Party Poker has seemingly put an end to that with its new VIP program that doles out rakeback of up to 40% on a weekly basis.

The new plan goes into effect on May 22 and will pay out from 20%-40%, with the only caveat being that players must opt in every week in the ‘Rewards’ section of the poker client. While some players may forget that minor detail and begin earning points before opting in, the good news is that "those points will automatically count toward that week’s total once you’ve opted-in," according to the Party Poker announcement.

Each week runs from 00:00 CET Monday to 23:59 CET Sunday and players will see the cashback added to their accounts every Monday.

Simple is as Simple Does

The new loyalty program has been simplified and streamlined, with an eye toward giving players what they want - more cashback!

"I recognised that the existing loyalty store was complicated and confusing for some players and so we decided to replace the store with a simple and rewarding rakeback scheme that will deliver cashback into players accounts every week," said Party Poker Managing Director Tom Waters.

The current VIP plan, which expires next Monday, requires players to exchange their player points for cash bonuses, tournament tickets, and casino bonuses via the loyalty store. That plan will be mucked in favor of rakeback paid in cash every week for opted in players.

Lose Your Earned Player Points!

Party Poker players need to spend their current points in the loyalty store by May 22 or risk losing them. Sales are on now for items such as tournament tickets, so make sure to take advantage before time runs out.

Currently, players earn two points for each $1 contributed in tournament fees and cash game rake. On May 22, that will change to one point per $1, with 25 points set as the minimum needed in order to earn rakeback.

The more points earned will increase cashback percentages under the following weekly tiered scale. Players in-between tiers will receive the lower-tiered payment and percentage:

Points earned above and beyond 2,000 each week are paid at 40% for every 200 points earned. Palladium Elite VIP players are recognized by invitation only and likely earn more than 40%, but that percentage has not been stated in the latest Party Poker announcement.

“This is a huge improvement for Party Poker which I have been championing for a long time," said site Ambassador Patrick Leonard.

He added that feedback he received from players was relayed to Party Poker "to ensure we were given a simple and fair reward system that gives players exactly what we are looking for.”

You can get in on this action and create your account here.