How to clear the starting capital- new (to me) info

    • Dback357
      Dback357
      Bronze
      Joined: 01.07.2010 Posts: 160
      Hello,

      I posted the following post in a thread about clearnig the starting capital in the beginner section of the forum, but I think it is useful to put it also into this section. If the moderators think that it's not appropriate to post nearly the same post in two sections, please feel free to delete one of them.


      I received the starting capital on Everest. I don't have 1000 Summit points (at least not without the bonus points received because of my VIP status and bonus points don't count) and the 90 day deadline is really close. I played a modified SSS with 35BBs on NL10 to collect points faster (before that I played SSS on NL2). Then I decided to ask their customer service how many Summit points I exactly have without the bonus points....just to make sure how much risk I have to take during my last days before the deadline. According to their answer, the information about the possible ways of clearing the starting capital on this forum is not 100% correct.

      "In to become eligible to make a cash out after joining the PokerStrategy FREE50 promotion, a player needs to meet one of the two following conditions: 1. Earn 1000 Summit Points in the first 90 days or 2. Lose $50.00 or more at real money tables In your case, you met the second condition and therefore you are eligible to make a cash out request. "

      It turned out that while I was producing profit, I lost 350$s at the tables.

      Hope this information is accurate (again, it is from their customer service) and will be useful for others.

      Best wishes!

      PS. I won't request a cash out. Everest has veeeeery slow and awkward software but there is a huge number of players who are willing to pay your monsters off.... :)
  • 16 replies
    • HannesZ
      HannesZ
      Headadmin
      Headadmin
      Joined: 30.06.2010 Posts: 16,311
      Hi Dback357,

      Thank you for the information.

      The other thread was out of date. We need to update it. Thanks for the hint.

      How are you doing overall on Everest Poker?

      If you have any questions, please do not hesitate to ask.

      Good luck on the tables,
      Hannes
    • Dback357
      Dback357
      Bronze
      Joined: 01.07.2010 Posts: 160
      Hello Hannes,

      I'm happy if I can contribute with something, even if it's only a simple information. This site helped me a lot and I'm sure it will help even more in the future. The strategy articles are great, so are the videos and the coachings.

      Well, I'm glad I had my 50$s at Everest. The software is weak, but so are the opponents. :) At first, I made some mistakes and dropped to 42$, then played SSS on NL5, later NL10 and went to 70$. Than I had a downswing ( + the fact that I wanted to win every pot when I had some money in the middle ). When I was on 47$ I had to move down because of 1. BRM, 2. Everest killed SSS except NL2. I started to play NL2 at 6 tables to collect points- untill that I played only 3 tables at the same time. It helped me A LOT. I played so many hands that folding was way easier.....I knew a better opportunity to invest my money will come shortly. From that point, my winrate is 12bb/100hands and I doubled my bankroll. I know some state that multytabling at more than 4 tables is not adviseable for a novice, but in my case, it helped me a lot.

      Now I want to learn S&Gs and the BSS with your strategy material.
      Ohh......and thanks for the starting capital. :D

      Best wishes.
    • AbuDhabi3
      AbuDhabi3
      Bronze
      Joined: 17.08.2010 Posts: 11
      Pls what does it mean "Lose 50 dollars on Real money tables?" What if I play SnG's? Is it counting?:)
    • HannesZ
      HannesZ
      Headadmin
      Headadmin
      Joined: 30.06.2010 Posts: 16,311
      Hi AbuDhabi3,

      As long as you play with real money it should count. However if you loose $50 you usually have no money left in your account.

      In the case of Dback357 this seems to be an exception.

      Cheers,
      Hannes
    • Dback357
      Dback357
      Bronze
      Joined: 01.07.2010 Posts: 160
      Hello,

      just to make it clearer, I´ll provide an example:

      You are all in pre flop with AA, your stack is 2 dollars, so the pot is 4$s. Lets say that your opponent has a smaller pocket pair, so you have approximately 80% for winning.

      If you play this hand 10 times, you win 4$ x 8= 32$s divided by 2, because half of the money was from your stack, so your profit is 16$s; meanwhile you loose 4$ x 2= 8$ divided by two= 4$s.....................so you have a profit of 16$- 6$= 12$s

      While producing this 12$ profit, you lost 4$s at the table. If you repeat this hand 100 times, you will have a profit of 120$s while loosing 40$s at Everest real money tables.

      I think, playing ring games, it is quite easy to loose those 50$s and clear the bonus.

      Best wishes,
      Zoli
    • HannesZ
      HannesZ
      Headadmin
      Headadmin
      Joined: 30.06.2010 Posts: 16,311
      This is just working if you made your own deposit. As soon as you loose $50 you can withdraw your money. But the 2nd condition just applies to players, who made their own deposit.

      Best regards,
      Hannes
    • Dback357
      Dback357
      Bronze
      Joined: 01.07.2010 Posts: 160
      Hmmm.........I didn't make a deposit, but they told me I met the second condition..

      Best wishes,
      Zoli
    • farbwenz
      farbwenz
      Bronze
      Joined: 01.01.2010 Posts: 359
      So, if you play 2$ DON tournaments (do DONS exist on everest?), and win in 60% of the game(so maybe 5% ROI,depending on RB) in 100 games you would have lost 40*2$=80 $? sounds pretty easy to clear that bonus^^
    • HannesZ
      HannesZ
      Headadmin
      Headadmin
      Joined: 30.06.2010 Posts: 16,311
      As already written above. Thats not working. The customer service of Everest Poker informed Dback357 wrong and he also made no cashout before he had less than 1000 summit points.

      The conditions are still as follow:
      You have immediate access to your $50 for the purpose of playing poker, although you must earn at least 1,000 Summit Points before the $50 can be cashed out.
      You have 90 days from the day you receive your $50 starting capital to earn 1,000 Summit Points, otherwise the $50 or any inferior amount will be retracted from your account. If you have an amount greater than $50, only the $50 starting capital will be taken back.


      Best regards
      Hannes
    • Dback357
      Dback357
      Bronze
      Joined: 01.07.2010 Posts: 160
      Hello Hannes,

      it's possible that they gave me wrong information, but I've been playing at Everest for 120 days and didn't get 1000 points (without bonuses) in 90 days, yet, the 50$s were not retracted from my account. When I asked them if the initial 50$s will be retracted from my account if I won't collect 1000 points they told me that the 50$ are mine now, and will stay on my account. Maybe they realised they made a mistake and decided not to retract the money. Luckily I was a bit suscipious and saved their mail, so I can prove they told me the money is mine. If they retract it in the future, I'll try to get in touch with someone from their management...

      Best wishes,
      Zoli
    • HannesZ
      HannesZ
      Headadmin
      Headadmin
      Joined: 30.06.2010 Posts: 16,311
      Hi Zoli,

      If they haven't done it until now, they won't do it later. So no need to worry :)

      Good luck on Everest,
      Hannes
    • Dback357
      Dback357
      Bronze
      Joined: 01.07.2010 Posts: 160
      Originally posted by HannesZ

      If they haven't done it until now, they won't do it later.
      Hello Hannes,

      I hope so. But I've seen many strange things in my life so I'm prepared for the worst. =) It's the phylosophy of my life- Si vis pacem, para bellum.

      By the way....I could get those 1000 points during the first 90 days, but at the moment I'm very busy at work so I decided, if the money is already mine, I'll concentrate more on my work and return to play higher volume of poker from december. Considering this, loosing that money because of a wrong information would be extremely frustrating...

      Best wishes,
      Zoli
    • TheHlod
      TheHlod
      Bronze
      Joined: 26.11.2007 Posts: 2
      Hello!

      Is it still possible to get 50$ on Everest poker ? i registered today and entered my screen name and clicked "Save data" but nothing happened?

      I also noticed in withdrawal section that there is only cheque option for withdrawal?

      how can i withdrawal my earned money if i dont have Credit card and dont want withdrawal with cheque ?
    • justkyle88
      justkyle88
      Bronze
      Joined: 07.05.2008 Posts: 7,596
      Hey TheHlod,

      Welcome to PokerStrategy.com and the Community.

      Each month we have certain PokerRooms that offer the free $50 starting capital and this changes every month.
      ATM, as far as I know Everest is available for the free $50.
      If you have passed the quiz and would like to claim your $50 starting capital, make sure you use the following link: $50 Starting capital instructions

      Please follow the instructions as just entering your screen name without following the instructions and passing the quiz will "not" give you the $50 free starting capital.

      I'm not to familiar with Everest Poker but the two main 3 main types of withdrawal methods without depositing are MoneyBookers/Bank wire and cheque.
      Usually, if you want to withdraw through a different method you need to deposit with the desired method. But, you should contact Everest support regarding these conditions.

      Regards,

      Kyle.
    • TheHlod
      TheHlod
      Bronze
      Joined: 26.11.2007 Posts: 2
      i did pass the quiz.

      this is where i put my screen name > http://www.pokerstrategy.com/everest-poker/download/

      now there is a correct sign in the window where i wrote my screen name, but there is still no bonus money on my acc. ...

      where is the problem ?
    • HannesZ
      HannesZ
      Headadmin
      Headadmin
      Joined: 30.06.2010 Posts: 16,311
      Hello TheHlod and Welcome to PokerStrategy.com

      At the moment we do not offer the starting capital on Everest Poker.

      You need to select one of our free $50 poker room on this page:
      Where do you want to play with your starting capital?

      If you have further questions, please do not hesitate to ask.

      Best regards,
      Hannes