Suck.
As President and CEO of Poker Source Online I get to inform you about new and exciting things happening at PSO. Unfortunately, I’m also the one who has to deliver bad news when it comes up…
I received a phone call from Poker Now today telling me that they are canceling the rake back program for all their affiliates effective immediately. This is very disappointing news for all of us at Poker Source Online and I know for our customers too. Since we started the Poker Now rake back program just a few weeks ago, we have signed up hundreds and hundreds of players and generated close to six figures in rake for Poker Now. This translated into a sudden windfall of rewards and incentives for our customers.
To make matters worse, Poker Now is not able to pay most of their affiliates because Party Poker is withholding their payment. Nonetheless, I want all of you to be assured that you will be credited for all play in February and through March 11th. Your PokerNow points have been credited for February and we are NOT taking them back. You will also be credited some time in April for your March 1st – March 11th Poker Now Play. However, we anticipate this being delayed a bit due to the situation at hand. Poker Source Online always stands behind our promotions so there is nothing to worry about when it comes to getting all the credit you deserve while the program was active. However, the Poker Now rake rebate program is canceled effective 11:59pm PST on March 11, 2005.
Finally, I would like to thank all of you for your continue loyalty and support of Poker Source Online. If you have any questions at all, please feel free to post here or send me a personal email.
Mike Jackness
President & CEO
Poker Source Online
Now I’ve lost all reason to play at PokerNow. Whatever. I’m still tied up at FullTilt with that insane signup bonus until the next Party skin reload bonus comes along.
Man, that sucks.
I think I might keep playing at PokerNow anyway, cancel my Party account and then sign up for Party rakeback in 6 months. Or not. I don’t really wanna play Caribbean Sun, which is the other place I get rakeback now.
Guess I can finish off some bonuses elsewhere.
Alan and Studio,
PokerSourceOnline has decided in the wake of this PokerNow disaster to alter their rules for signing up for the PartyPoker rakeback program.
You can cancel your PartyPoker account via telephone (you can even tell them you are canceling because of an affilliate program being obsoleted) and wait 72 hours, reopen via PokerSourceOnline’s frequent flopper program (still 27.5%) and keep your rake rebate going.
It has been cleared with PP, and the only limitation is that you have not done another promotion from PSO through Party Poker (Skins do NOT count.) If you did a promotion from someone other than PSO, you can still do this deal. Alas, I did a different promotion at PSO for Party Poker a long time ago, so I am not eligible, but you guys might be.
Is a rake back program worth it for a 10-12 hour a week $25/$50NL player like myself?
I’ve played on several different sites (chasing bonuses of course) but never signed up for a rake-back program.
I think if you’re always clearing a bonus, it may not be worth bothering with the rakeback program, since the bonus will usually pay more than the rakeback. If you play anything above the # of hands required to clear the bonuses, then you should take a look at the amount of rake you paid over the past month and figure out what it would look like if you got 27.5% of it back. At the very least, the rakeback can’t hurt.
All of the above are ok.
RakeBack is good to have, but be aware before selecting your rake back program.
You may check several sites and offers, before sign up with an affiliate have a look at Top 15 Rakeback directory at http://www.pokerrakerefund.com