Players with existing Full Tilt Poker accounts and who have enjoyed getting 27% rakeback each month will no longer be eligible for rakeback. The site will be replacing its rakeback program with a special VIP loyalty program that is said to be worth up to 25% of the rake paid by a player.
The previous rakeback system paid players a fixed 27% rakeback and was only available to players who signed up through rakeback affiliates who offered these deals. Those who signed up through affiliates that did not offer rakeback could not benefit from any rake rebate.
The new loyalty system is in line with PokerStars, which keeps the incentives in-house and rewards all players depending on volume of play.
Weekly cash payments based on the number of Full Tilt Points (FTP) earned in that week will be placed directly into players’ accounts. The top payout rate will be $2.50 per 100 points, equivalent to 25% rakeback.
Apparently the 25% at the high end would work out to slightly higher than the previous 27% deal because FTP points can also be spent in the Full Tilt store in addition to the 25%. In the past, FTP store purchases would result in a reduction in the rakeback payment of a player. Players who achieve the highest level in the new program will be allowed to buy cash bonuses in the FTP store.
Players will be allowed to download the Full Tilt Poker software prior to the November 6 launch date.
I hope they change this for 2013. 25% rakeback is weak