$50 starting capital withdrawal conditions

    • maha099
      maha099
      Bronze
      Joined: 08.03.2012 Posts: 2
      This is my attempt to consolidate in one thread all the conditions associated with receiving and withdrawing your $50:

      - You cannot take advantage of any other bonuses while you're receiving your $50. This includes the "free $7.70" bonus.

      - It will be paid in chunks of $10. After every payment, you have a week to generate $0.50+ in rake to qualify for the next one. If you have done so by the end of said week, you will receive the next chunk - you don't receive it as soon as you have generated enough. Alternatively, you can deposit $100+ and clear all of it at once.
      You can keep track of how much rake you've generated by matching your Poker770 points against these charts.

      - Additionally, you have to generate $50 rake or deposit at least $100 within 180 days of receiving the money. Otherwise the remaining money up to the already received amount ($50 max) will be TAKEN AWAY.

      - To be able to withdraw you need to generate $50 of rake and/or tournament fees and you need to make a minimum deposit of $20. You can only cash out to a payment option you used to make a deposit previously (with the possible exception of a wire transfer? Not sure on this).

      - If other threads in this forum are any indication, be prepared to provide lots of documentation and for the whole withdrawal process to take over a week.

      If I'm forgetting anything or any of this is incorrect, please let me know.
  • 19 replies
    • Pauly6
      Pauly6
      Bronze
      Joined: 09.03.2012 Posts: 20
      If I have had $10 + $7.7 bonus, then I won't get those $50 starting capital ?
    • Silicernium
      Silicernium
      Bronze
      Joined: 22.12.2009 Posts: 3,203
      Originally posted by Pauly6
      If I have had $10 + $7.7 bonus, then I won't get those $50 starting capital ?
      Hallo!

      no, you cannot get the $50 if you have had the $7.70 bonus.
    • Pauly6
      Pauly6
      Bronze
      Joined: 09.03.2012 Posts: 20
      But in my poker account I have got 10$ not 7.7$.

      Why 10$ ?
    • Pauly6
      Pauly6
      Bronze
      Joined: 09.03.2012 Posts: 20
      I found info. No help needed. Thank's :)

      I received the first $10. How do I get the full $50?
      The free $50 starting capital will be released into your account in five separate chunks at $10 each.
      You'll receive the first $10 immediately. You then have to play at least five $1 tournaments or play a few hundred poker hands within the next 7 days to release the next $10.
      The precise parameters are: you can earn a new $10 payment every 7 days. The next $10 step won't be transferred into your account earlier, should you meet the qualifying criteria before the preceding 7 day period is over.
      In order to qualify for a new $10 payment you have to earn at least $0.50 in rake or tournament fees. Rake is the house's cut which is taken from every pot played at a cash game table. Usually it's around 5% of the money in the middle.
      With an additional deposit of at least $100 you can bypass this hurdle and receive your full $50 all at once.
    • IngridN
      IngridN
      Bronze
      Joined: 02.03.2011 Posts: 12,162
      Hi guys and sorry we didn't get here earlier, is there anything else we can assist you with?
    • DzintarsTet
      DzintarsTet
      Bronze
      Joined: 10.03.2011 Posts: 38
      Well anyone could tell me how much points i need to accumulate before starting to payout or move up limits?

      Currently i have 1176 points, but they should be more, i don't know why they reduced them :@


      and I have sent them e-mails about my rake. Because i am sick of calculating it all by myself.
      BUT no answer from them!!


      Their support is terrible. No online support ;(
    • MMPokerNab
      MMPokerNab
      Bronze
      Joined: 14.02.2012 Posts: 249
      Hello DzintarsTet!

      1176 points is a lot of points, good job. On the limits you play on [$0.01/$0.02 AND $0.02/$0.04] you get 30 Points(770) per $1 of rake. So you raked $39,2! [source]


      You can lift the limit restriction (i.e. play any limit you want) when you have generated $50 in rake or tournament fees or if you have deposited $100. [source.. err, the e-mail that notifies you of your $10 bonus!]

      edit: I just re-read your post. You also asked about payout, info on that is in OP. In short, $20 deposit is needed together with $50 rake.
    • DzintarsTet
      DzintarsTet
      Bronze
      Joined: 10.03.2011 Posts: 38
      thanks for help ;)
      i appreciate it very much :)
    • jonniebap
      jonniebap
      Bronze
      Joined: 25.03.2012 Posts: 1
      You sure you're not looking at the play money points?
    • DzintarsTet
      DzintarsTet
      Bronze
      Joined: 10.03.2011 Posts: 38
      Play money points? I look at those:

      http://tinypic.com/r/wtu8mx/5


      And still i haven't wagered 50$ in rake! wrote to support and on 20th of march they sent me an email that i have

      "Dear Dzintars,

      Thank you for contacting us.

      Please be informed that the equivalent of $50 rake is approximately 1000 Points770 that you need to gather by playing at our cash tables and tournaments.

      Moreover, please take into consideration that so far, you have gathered a total of 623.45 Points770 and therefore, we invite you to continue playing in order to reach the required number of Points770.

      As soon as the rake condition is satisfied, the restrictions currently available on your account will be automatically removed.

      Best regards,

      Victoria"
    • MMPokerNab
      MMPokerNab
      Bronze
      Joined: 14.02.2012 Posts: 249
      Hey DzintarsTet!

      Ooh, I think see what the problem is now.
      Don't worry, you'll just have to play a bit more mate.

      So, Poker770 wants you to rake $50 for them in order to lift the restriction. This is equivalent to 1500 Points770, but only the points earned by paying rake or tournament fees count. The extra Points770 (due to your VIP level) do not count, only the 30 you get per $1! That's why Victoria had a smaller number than you.

      Best way to keep track of how much you raked is by PokerStrategy's SP points. 5 SP = $1 of rake on Poker770. Other good way is to install PokerTracker or some other tracker that will do the rake calculation for you.

      So, now you know you've raked around $25 and that you'll need to continue. Remember also that the time limit for raking the total of $50 is 6 months from the day you got your first $10 chunk.

      Hope this helps. Good luck! :f_p:

      Hey, also, if you're planning on stickin on Poker770, you can check the value of their cash/$ bonuses (money you can get for Points770) in this spreadsheet. [googledocs]

      edit: corrected my post, and sorry for being so long-winded.
    • tomthebom28
      tomthebom28
      Bronze
      Joined: 14.12.2008 Posts: 56
      Can you cash out the $50 within 180 day's if you fulfill all the other requirements?
    • IngridN
      IngridN
      Bronze
      Joined: 02.03.2011 Posts: 12,162
      Originally posted by tomthebom28
      Can you cash out the $50 within 180 day's if you fulfill all the other requirements?
      No, as soon as you enerate the $50 rake OR the $100 deposit you can withdraw.
    • maha099
      maha099
      Bronze
      Joined: 08.03.2012 Posts: 2
      Hi, I've received an email telling me that I haven't qualified for the final chunk of my $50 - however, I'm pretty sure this is not actually the case and that I had in fact generated the $0.50 rake. Could this be looked into? My poker770 name is maha099, email in spoiler.

      [Edited by HollyMichelle to remove email address]
    • UPAY4DINNER
      UPAY4DINNER
      Silver
      Joined: 27.09.2009 Posts: 21,961
      Originally posted by maha099
      Hi, I've received an email telling me that I haven't qualified for the final chunk of my $50 - however, I'm pretty sure this is not actually the case and that I had in fact generated the $0.50 rake. Could this be looked into? My poker770 name is maha099, email in spoiler.

      [Edited by HollyMichelle to remove email address]

      Unfortunately, we do not have access to this information maha099.

      If you believe you have qualified (you can check via your StrategyPoints for the week in question) then please contact Poker770 customer support.

      Let us know how things go!

      Best of luck,
      Gary
    • OZdonky
      OZdonky
      Bronze
      Joined: 05.12.2010 Posts: 4
      Hi!
      I registred at Poker770 but i forget write in Bonus code 5X10 for that 50$ and now I cant found where i can do this. maybe someone can help?
    • IngridN
      IngridN
      Bronze
      Joined: 02.03.2011 Posts: 12,162
      Originally posted by OZdonky
      Hi!
      I registred at Poker770 but i forget write in Bonus code 5X10 for that 50$ and now I cant found where i can do this. maybe someone can help?
      Hi there OZdonky,

      Unfortunately if you forgot to enter the bonus code it's likely that you're account won't be tracked to PokerStrategy.com. Could you please contact poker room customer support and ask if they could fix this hick up?

      Thank you
      Ingrid
    • httpeter
      httpeter
      Gold
      Joined: 04.11.2011 Posts: 12
      Thanks for the useful post.

      I have two questions:

      1. Can it be cleared up whether you can gain a 1st deposit bonus while also collecting the $50 starting capital? It says you can on this guide:

      http://www.pokerstrategy.com/poker-770/getting-started/

      But this thread seems to say not. Any clarification on this would be gratefully received.

      2. I was thinking of depositing $100 now to clear the full $50 starting capital, and to remove the room limits.

      What would be the implications of then withdrawing most of that $100 pretty much immediately - I'd leave about $25 plus the $50 starting capital to play with?

      How would that affect any first deposit bonus and anything else?

      I have registered successfully with the $50 free starting capital.

      Thanks for any assistance. First post, so forgive any elementary mistakes. Great site.
    • MarkQuick
      MarkQuick
      Bronze
      Joined: 06.12.2010 Posts: 1,343
      Hi httpeter,

      If you deposit $100 you will remove the beginners restrictions and you'll receive the complete $50 into your account within 24 hours of making the deposit. Please note that if you deposit $100 or more, you must contact the Poker770 online support in order to have the block lifted.

      Depositing money means you transfer money into your poker account, just as if it were in a current account. You can play with it, or transfer it back to your bank account. It's still your money. You can make a deposit at the cashier in the Poker770 software:

      1) Log in to the Poker770 software.
      2) Click the button.
      3) A window will open where you can enter your preferred method of payment and make a deposit.

      The bonus will then appear in the bonus overview under "My Account" and you can start playing to release it straight away. For further details please contact the support team at Poker770:

      support@poker770.co.uk

      For our Poker770 deposit guide please click on the link below:

      Get More From Your Poker770 Membership!

      Best of luck at the tables,

      Mark.