Quote:
Wait a sec. In a previous email FTP Doug stated that 100 points will be up to $ 2.5 (i.e. $1 = 40 points). In your 5k bonus example, $1 = 220 points.
So, which one is right?
I quote Shyam/Doug in the OP:
"At the beginning of this year, well before PokerStars entered the picture, we had begun work on a new rewards program that would combine aspects of Iron Man, Black Card, and affiliate-paid rakeback. The three programs had their advantages, but overall it was too many programs, and they were confusing to many players.
By the time the PokerStars deal came along, most of the major work on this new program was done, and it was just a matter of deciding whether or not to go with it. This was not a trivial decision, but in the end we decided that the benefits of having a unified program were worth the change. So when we re-launch on November 6th it will be without Iron Man, Black Card, or affiliate-paid rakeback.
We aren't quite ready to give all of the details of the new rewards program, but the general idea is that it will be available to everyone, and the main benefit of the program is weekly cash payments that are based on the number of Full Tilt Points earned that week. The program tops out at paying $2.50 for every 100 Full Tilt Points earned (which works out to 25%)."
So:
For every 100 ftp's raked, under new weighted-contributed system, a top tier player will receive $2.50 rakeback (sorry; giveback)....others will get less. Value of a ftp is a trade secret that's not been shared with us yet - presumably will remain unchanged, as per the historical value kindly recalled by Ungar2k.
Reading comprehension ftw.