Ironman 600$ bonus

    • Lizocain
      Lizocain
      Bronze
      Joined: 03.06.2009 Posts: 173
      Hey all,
      Just a question here about the iron man 600$ bonus which you can buy with 3000 Medals. Each medal substracts 20-25cent from your rake back, so thats 3000*.25 750$ minus rakeback. You clear the bonus at a rate of 6cent / 1FTP so thats 42cent / 7 FTP (1$ rake). Thats 42% rakeback. Someone who got a good math-head, can tell me if you actually make profit or you lose more with this 600$ bonus?
      Thanks
  • 15 replies
    • EagleStar88
      EagleStar88
      Bronze
      Joined: 06.10.2008 Posts: 7,359
      Originally posted by Lizocain
      Hey all,
      Just a question here about the iron man 600$ bonus which you can buy with 3000 Medals. Each medal substracts 20-25cent from your rake back, so thats 3000*.25 750$ minus rakeback. You clear the bonus at a rate of 6cent / 1FTP so thats 42cent / 7 FTP (1$ rake). Thats 42% rakeback. Someone who got a good math-head, can tell me if you actually make profit or you lose more with this 600$ bonus?
      Thanks
      Hi Lizocain,

      You've made a slight error in your calculation. To clarify:

      Spending Medals deducts approx 20 to 25 cents/per medal from your Net Earned Rake (not rakeback). Rakeback is 27% of your Net Earned Rake.

      Therefore:

      Net Earned Rake: 3000 medals = 3000x0.20 = Net Earned Rake reduced by $600 #1

      Rakeback: $600x0.27= $162 (reduced potential rakeback).

      Your $600 bonus is therefore worth approximately $438 clear profit to you and still very much worth having.

      #1 - The smaller bonuses are charged at 25cents/medal, the higher only 20cents/medal.

      Full details and other calcs are in the Important Sticky:


      Hope this helps, any questions, just shout.

      Best regards,


      Bart
    • Lizocain
      Lizocain
      Bronze
      Joined: 03.06.2009 Posts: 173
      A number one reply by the Star, thank you very much!
    • Lizocain
      Lizocain
      Bronze
      Joined: 03.06.2009 Posts: 173
      Just one more question, spending the medals will remove 160~$ from the rakeback, but clearing the 600$ bonus will remove from the rakeback aswell, so how much is this bonus giving actually ?
    • excelgeo
      excelgeo
      Bronze
      Joined: 17.10.2008 Posts: 1,107
      but after purchasing the bonus do you not still get deductions from rakeback while clearing it?
    • EagleStar88
      EagleStar88
      Bronze
      Joined: 06.10.2008 Posts: 7,359
      The net effect on your rakeback is $162, deducted only once.

      It is usually deducted as/when your bonus gets cleared.

      Best regards,


      Bart
    • Lizocain
      Lizocain
      Bronze
      Joined: 03.06.2009 Posts: 173
      good.thanks
    • PocketAcesJohn
      PocketAcesJohn
      Bronze
      Joined: 19.06.2008 Posts: 1,116
      What would happen if you cleared $590? Would you not get any deductions? Or would you get deducted $590 net rake after it had expired?
    • Waiboy
      Waiboy
      Bronze
      Joined: 18.09.2008 Posts: 4,877
      I'm going to go waaaaay out on a limb and suggest it would be deducted at a rate of $590 * 0.27.

      Ofc I am an FTP fish so stand ready to be corrected.
    • EagleStar88
      EagleStar88
      Bronze
      Joined: 06.10.2008 Posts: 7,359
      Originally posted by Waiboy
      I'm going to go waaaaay out on a limb and suggest it would be deducted at a rate of $590 * 0.27.

      Ofc I am an FTP fish so stand ready to be corrected.
      I've never known Wai-Z-boy to be wrong yet and the wise one is again correct.

      Wise words he does speak.


      Bart
    • Waiboy
      Waiboy
      Bronze
      Joined: 18.09.2008 Posts: 4,877
      Originally posted by EagleStar88
      Originally posted by Waiboy
      I'm going to go waaaaay out on a limb and suggest it would be deducted at a rate of $590 * 0.27.

      Ofc I am an FTP fish so stand ready to be corrected.
      I've never known Wai-Z-boy to be wrong yet and the wise one is again correct.

      Wise words he does speak.


      Bart
      Now I'm Wai-Z-boy, I feel a little bit gangsta. :f_cool:

      Better than being a little bit country, or a little bit rock 'n roll! But not much... :f_p:

      Sad thing is I think we're both old enough to understand this reference. :f_cry:
    • EagleStar88
      EagleStar88
      Bronze
      Joined: 06.10.2008 Posts: 7,359
      Originally posted by Waiboy
      Originally posted by EagleStar88
      Originally posted by Waiboy
      I'm going to go waaaaay out on a limb and suggest it would be deducted at a rate of $590 * 0.27.

      Ofc I am an FTP fish so stand ready to be corrected.
      I've never known Wai-Z-boy to be wrong yet and the wise one is again correct.

      Wise words he does speak.


      Bart
      Now I'm Wai-Z-boy, I feel a little bit gangsta. :f_cool:

      Better than being a little bit country, or a little bit rock 'n roll! But not much... :f_p:

      Sad thing is I think we're both old enough to understand this reference. :f_cry:
      lol Yes, but don't let on to anyone.

      I'm still blowing the candles out from my birthday 2 weeks ago ;(

      Regards,


      Old Bart
    • Tim64
      Tim64
      Black
      Joined: 02.11.2008 Posts: 7,403
      This is news to me - that the 600$ bonuses which can be bought for IM medals then have to be cleared - by playing.

      Is that really true?

      I think, if it's true, it's a good advert for the tokens since you 'clear' the dollar value of the token immediately - in one go - as soon as you enter the tournament with it.

      But maybe I misunderstood...
    • EagleStar88
      EagleStar88
      Bronze
      Joined: 06.10.2008 Posts: 7,359
      Originally posted by Tim64
      This is news to me - that the 600$ bonuses which can be bought for IM medals then have to be cleared - by playing.

      Is that really true?

      I think, if it's true, it's a good advert for the tokens since you 'clear' the dollar value of the token immediately - in one go - as soon as you enter the tournament with it.

      But maybe I misunderstood...
      Hi Tim,

      Yes your right and yeah it is quite a strong case for the tokens. The only thing to consider is I guess that you are staking everything in just one tournament (only applicable for those with small br's i suppose).

      There are however some good token buyin 9 player sngs which are pretty easy to beat and could be a good way to convert the tokens to cash.

      I'm personally still buying the bonuses and can easily clear them by just playing my usual 200 points per day ironman status games.

      When I get time I might try to do a guide to points/medals/token tournaments and ways to convert into $. Might perhaps add to the FAQ or rakeback stickies.

      Any thoughts welcomed.

      Best regards,


      Bart
    • Tim64
      Tim64
      Black
      Joined: 02.11.2008 Posts: 7,403
      EagleStar88,

      I would love to see such a guide!

      Will happily help if I can...

      Tim
    • EagleStar88
      EagleStar88
      Bronze
      Joined: 06.10.2008 Posts: 7,359
      Originally posted by Tim64
      EagleStar88,

      I would love to see such a guide!

      Will happily help if I can...

      Tim
      Yep that would be great Tim and any help gratefully received.

      I'm away at the moment visiting a poorly relative, but will be back home in a week or so. If you can remind me sometime, we'll sit down (maybe with a couple of other ftp regs and draft something up between us).

      I'm on skype if convenient with you (englandbart) or we can liaise in this thread.

      Wishing you and all members a happy holiday season and happy new year (shortly ;) )

      Best regards,


      Bart