Everest Poker has announced that it will be introducing a new rewards program from 1st September and has warned players to clear their existing Reward Points.
It has been a long while coming, but following Everest Poker´s move to the iPoker network last October, the site is at last introducing a new Rewards program. According to Everest Poker, the new loyalty program will be the “most generous Reward Scheme on the iPoker network” and will have lower points requirements to enable players to reach and maintain status levels.
The new rewards program will also offer players the opportunity to buy-in to freeroll tournaments with their Reward Points and the site is introducing tournaments into its schedule which will award a minimum cash prize to every entrant when a certain status level is reached. However, in order for the new Everest Poker Rewards Program to take effect, existing balances of points will be cleared at midnight on August 31st.
Everest Offer Bonuses to Incentivise Clear Out
Everest Poker is offering players incentives to clear out their existing reward points´ balances before 31st August by offering a 50% discount on all goods purchased from the Everest online store, introducing “RP” tournaments (Reward Points) exclusively for Everest Poker players and offering a cash conversion bonus between August 26th and 31st.
The cash conversion bonus is only applicable to players who make more than one points-to-cash conversion during the promotional period and works by processing all conversions at the highest applicable rate. For example:-
A player has 271,000 reward points and, under the “old” system would be able to convert 160,000 points at the rate of $1.00 per 160 points, 90,000 points at the rate of $1.00 per 180 points and 21,000 points at the rate of $1.00 per 210 points for a total bonus of $1,600.
Under the “Bonus Boost” promotion, all the points would be converted at the “best rate used” (i.e. $1.00 per 160 points), and the player would receive $1,693.79 for their points – a difference of $93.79. All bonus boost payments will be credited to players´ accounts on Saturday 7th September and players who are just a touch short of acquiring the points they need to reach a better exchange level should contact email@example.com to enquire about their options.
No Change to Summit Points or Everest Poker First Deposit Bonus
Everest have also announced that the new and improved Rewards Program only applies to the Rewards Points that players collect, and not the Summit Points that players are awarded for contributing to the rake deducted from cash games tables or paid to enter online poker tournaments (Summit Points are transferred into Reward points at a rate dependent on a player´s status).
Summit Club Statuses will be transferred to the corresponding level when the new Everest Poker Rewards program begins on 1st September and Summit Points will still be awarded at a rate of 8 per $1.00 raked or paid in fees. Any player trying to clear the Everest Poker first deposit bonus of 200% up to $2,000 will be unaffected by the change, and increments (of $2.50) of the Everest Poker bonus will still be credited to player´s accounts each time 80 Summit Points are collected.
Remember to use all your Everest Reward Points by 23:59 GMT on Saturday 31st August … … or lose them!