Summit Points to Cash Conversion

    • elhh82
      elhh82
      Bronze
      Joined: 03.09.2008 Posts: 6,838
      Has anyone calculated how much this translates to in actual rakeback? I'm gonna attempt some calculation, hope this is correct.

      Assuming one is at Level I, one will get 6 points for $1 of rake generated(500% bonus). In a table of 10 persons (i play SSS, so i make this assumption), this means our contribution to the rake is $0.1 right (using a Full Tilt style rakeback calculation)?

      So for 6 points, we get 0.024 back. So that means out effective rakeback is 0.024/0.1 * 100% = 24%

      Base Camp 250% = 14%
      Camp I 500% = 24%
      Camp II 600% = 28%
      Camp III 650% = 30%
      Death Zone 700% = 32%
      The Summit 750% = 34%

      Do you think this is correct?
  • 15 replies
    • slikec
      slikec
      Global
      Joined: 04.02.2008 Posts: 1,155
      You are almost correct ;) Actually is only 10% of what you wrote.

      So is 1,4% 2,4% ... 3,4%.

      Before it was 250SP for 1$ just you had to play SNGs or enter in tourney with SP instead of cash now they decided they'll give us back a bit more money ;)

      Main rake back deal you get from Everest is in mail you get around 15th every month. This offers are just additional cash;)
    • elhh82
      elhh82
      Bronze
      Joined: 03.09.2008 Posts: 6,838
      i don't think its 1.4, 2.4..

      that is if you calculate the total rake from the table. But you have to divide that total by the number of players to get your personal contribution. This is how it is done for full tilt as well. In a full ring table, you total up ( rake for each hand / players on table for that hand) to get your rake amount. And you get 27% of that.

      I am using an equivalent formula to count it. If you don't divide , then it will be crazy for full tilt to give 27% rakeback, because then everyone on the table gets 27% back, which means they have to pay a total of 253% rake back per full ring table of 9 players.
    • elhh82
      elhh82
      Bronze
      Joined: 03.09.2008 Posts: 6,838
      oh btw, i emailed everest about the bonus in the mail and they say its no longer given out because of this summit point program.
    • suvalgysiu
      suvalgysiu
      Bronze
      Joined: 09.06.2007 Posts: 307
      hey, I started playing on Everest now. I gotta say that after playing on PokerStars this site seems too fishy to be real. Anyway, my question is that if I join the Summit Program now, will I still be able to clear the $200 pokerstrategy bonus?
    • Gerv
      Gerv
      Bronze
      Joined: 07.05.2008 Posts: 17,678
      Originally posted by suvalgysiu
      hey, I started playing on Everest now. I gotta say that after playing on PokerStars this site seems too fishy to be real. Anyway, my question is that if I join the Summit Program now, will I still be able to clear the $200 pokerstrategy bonus?
      absolutely yes
    • suvalgysiu
      suvalgysiu
      Bronze
      Joined: 09.06.2007 Posts: 307
      ok, so I finally cleared the bonus at Everest. Now I have ~2800 points, which I should be able to exchange for ~$12. It says: "Go to the "Convert SP to Cash" screen from your Bonus page or your VIP status page", but help me, by Jobe, I can't see it.
    • purplefizz
      purplefizz
      Bronze
      Joined: 12.03.2008 Posts: 4,508
      go to cashier then on the left side where you get a scroll down, pick the one with VIP Summit thing. its just there :tongue:
    • suvalgysiu
      suvalgysiu
      Bronze
      Joined: 09.06.2007 Posts: 307
      Hey guys, I'm thinking of a site to settle down. I remember Everest poker was a very good one.. Those who play there, what kind of rakeback does the VIP program provide?

      Base Camp 250% = 14%
      Camp I 500% = 24%
      Camp II 600% = 28%
      Camp III 650% = 30%
      Death Zone 700% = 32%
      The Summit 750% = 34%

      Are these numbers still true? I've heard they changed their points system. I'm going to play 6max NL100.

      I've also heard a rumour about some 'hidden rakeback' with some soard of reload bonuses every month. Can you tell me more about those? Thanks :)
    • Kokaroc
      Kokaroc
      Bronze
      Joined: 21.04.2008 Posts: 432
      Originally posted by suvalgysiu
      Base Camp 250% = 14%
      Camp I 500% = 24%
      Camp II 600% = 28%
      Camp III 650% = 30%
      Death Zone 700% = 32%
      The Summit 750% = 34%

      rakeback through summit points
      Is here somebody that could confirm this? I'm looking for a new site and if this is true, it's decided :)
    • elhh82
      elhh82
      Bronze
      Joined: 03.09.2008 Posts: 6,838
      the camps are not correct now, you have to look at the new camps and see the bonus% which has been changed.

      But other than that, the calculations are correct based on your average rake contributions in a 10 man full ring table. Won't be correct if your play SnG or SH.
    • kevvu
      kevvu
      Bronze
      Joined: 11.05.2008 Posts: 1,527
      Hey,
      I play FL SH and i am camp III, rakeback is 16,7% (i think)
    • elhh82
      elhh82
      Bronze
      Joined: 03.09.2008 Posts: 6,838
      well my calculation might not be correct, heres how i did them

      for a NL FR table with 10 players.

      $1 = 1 summit point, so assuming everyone contributes to the rake evenly across a big sample, you contribute $0.10 for 1 summit point.

      1250 summit points gives you $5.

      To earn 1250 points this is how much you rake according to each tier:

      NO Tier = 0% bonus = $125: $5/$125 = 4%
      Base Camp = 200% bonus = $41.67: $5/$41.67 = 12%
      Camp I = 300% bonus = $31.25: $5/$31.25 = 16%
      Camp II = 400% bonus = $25.00: $5/$25 = 20%
      Camp III = 500% bonus = $20.83: $5/$20.83 = 24%
      Camp IV = 650% bonus = $16.67: $5/$16.67 = 30%
      The Death Zone = 750% bonus = $14.71: $5/$14.71 = 34%
      The Summit = 900% bonus = $12.5: $5/$12.5 = 40%

      *Example: At 200%, $1 raked on your table gives you 3 points (1+2 bonus)

      Do correct me if im wrong :)
    • Kokaroc
      Kokaroc
      Bronze
      Joined: 21.04.2008 Posts: 432
      And you need to exchange these points for $, or you get your rake montly by default?
    • elhh82
      elhh82
      Bronze
      Joined: 03.09.2008 Posts: 6,838
      exchange
    • elhh82
      elhh82
      Bronze
      Joined: 03.09.2008 Posts: 6,838
      Here is the latest stats i collected after playing 2.5k hands there over the weekend (and running $-130 below EV!! :s_mad: :s_mad: ). All hands played were on FT tables with 9.3 players average.

      Total Raked - $95.68 (i played some SnG, added $2 rake for that)
      Points Collected - 3478.11 (This is after 300% bonus)
      Value of points - $13.91

      Rake Back = 14.5%

      Since im getting my points at x4 rate.

      You can then calculate the base rakeback at 3.625%

      NO Tier = 0% bonus = 3.625%
      Base Camp = 200% bonus = 10.875%
      Camp I = 300% bonus = 14.5%
      Camp II = 400% bonus = 18.125%
      Camp III = 500% bonus = 21.75%
      Camp IV = 650% bonus = 23.4375%
      The Death Zone = 750% bonus = 30.8125%
      The Summit = 900% bonus = 36.25%