Elite Benefits VIP or Flat Rakeback? Which is better? Following is a detailed breakdown of Winning Poker Network [WPN - ACR, BCP, True - YA] Elite Benefits versus flat rakeback programs.
To skip directly to the "Elite Benefits" VIP program versus Flat Rakeback 27% chart
The Winning Poker Network (America's Card Room, Black Chip Poker, True Poker, Ya Poker) offers two rewards programs for its poker playing clients; Elite Benefits, WPN's VIP program, and a flat 27% rake-back program. Each rewards program has its own merits and each suits different types of players. Those of you already playing and those of you wanting to create an account on the Winning Poker Network might be wondering whether you are getting the best bank for your raked buck. We here at Professional Rakeback have got you covered.
The General Answers:
The questions most often posed by players boils down to "Should I sign up for flat rakeback or stay on the Elite Benefits program - which one is best for me as a player?" To answer that requires a bit of knowledge about the player.
In general, micro-stakes players will be best suited to the flat rakeback program. Micro-stakes players typically are unable to produce much rake in a given month and as such, will see better results from a flat discount program such as rakeback provides. Recreational players will likely also be better off on flat 27% rakeback for much of the same reason, lack of rake (consistent) rake generation. That is not to say that all micro stakes players and all recreational players will be best, because mass tabling, super high volume micro grinders can do better on Elite Benefits, specially if they are willing to play tournaments (more on that later). Higher stakes recreational players who play stakes large enough to maximize rake generation (think 200NL plus) stand a decent chance of generating enough rake however.
ProfRB.com highly recommends that any full time, professional poker players, be they Multi Table Tournament (MTT) players, Sit-aNd-Go (SNG) players, or cash game players that are willing to play in multi-table tournaments should remain on | choose Elite Benefits. The reason is simple. The points to tournament bucks (T$) conversion rate, explained below, will virtually always yield a greater rewards percentage for these types of players. In fact, starting as low as $1,800 in YEARLY rake will yield an Elite Benefits player a slightly higher rewards percentage as compared to being on the flat rake-back program.
*One advantage flat rakeback has over Elite Benefits is that it can be cashed in daily, where as one has to save up points to get the rewards in the EB program.
The More In-Depth Answers:
A player on Elite Benefits unlocks cash bonuses based on the Combat/Player Points they accumulate. One can see the full explanation on how one's rank points convert to Combat/Player Points by simply clicking on our "Rakeback vs VIP - FURTHER DETAILS - and explanations graphic. PROFRB recommends reading over the information contained within in order to garner a better understanding before continuing. Once one understands all of the terms and calculations involved, one will see more clearly how one's bonus money is tabulated. As we stated above, poker players willing to play tournaments are going to earn higher percentages of rewards.
Tournament Dollar Conversions: The smallest tournament ticket conversion in the Elite Benefits program yields a higher percentage of rewards than the largest cash game instant bonus ($4,000). Therefore, it behooves players to convert their hard earned "VIP points" into tournament tickets. We believe that this is by design. Poker sites would much rather players fill up their tournament tables, as those attract more recreational players and yield better marketing campaigns due to higher tournament guarantees. Players can take advantage of this not only by getting higher effective cashback percentages, but also in the form of more EV. Tournaments on the Winning Poker Network are notoriously soft! Tournament dollars can be purchased in up to $215 increments (the best conversion rate). A cash game grinder could, without serious effort, earn 1-3 of these a week. That would allow said player to buy into not only the weekly 50k/100k guaranteed Sunday Major, but also the weekly $530 High Roller. Both of which are great value and worth the time to play. If a player is willing to trade in points for T$, the threshold to break-even versus flat rakeback drops down to a mere $150 a month ($1800 a year). A "SuperNova Elite" level grinder could achieve a maximum rewards percentage exceeding 69% by trading in points for T$.
Cash Bonus Conversions: For players unwilling to play tournaments, the points to cash conversion rates are poorer. Often the ticket rates for spending an equivalent amount of points are 3-6% higher. As such, those spending VIP points solely on cash bonuses, will see lower rates of return and higher yearly thresholds to come out ahead of the flat rakeback program. Anything less than $700 a month in rake, a player wanting cash should automatically choose flat rakeback. A player raking $700 per month on WPN's Elite Benefits program would be right at the break even point. Earning an a raw rate of around 25% cash-back if said player used their points to purchase cash bonuses in the store (equivalent T$ converter would be at 30.3% effective). This is not far from the 27% rakeback you'd receive raking that same $700 on flat rakeback in terms of raw percentages and more or less break even when one considers that flat rakeback is paid out on the "weighted contributed method" while Elite Benefits uses the "dealt method" (hint: winning poker players earn effectively 0.5 - 3% higher rewards on dealt method in real world situations). Once a player wishing to trade in points for cash surpasses an average of $700 per month ($8,400 per year) in rake, said player is better off on Elite Benefits. A "SuperNova Elite" level grinder could achieve a maximum rewards percentage exceeding 64% by trading in points cash bonuses.
The Chart, Spreadsheet, Math Behind It All:
Are you a "math oriented" person? Most online poker players are. PROFRB staff, as professional poker players ourselves, understand. We did the math on all of the options that The Winning Poker Network offers. There are essentially three main strategies; flat 27% rakeback, Elite Benefits VIP spending all VIP points on cash bonuses, and Elite Benefits VIP spending all points on multi-table tournament tickets | Tourney Bucks | T$. Ultimately spending points on tournament buyins is the most financially rewarding option, assuming one is OK with playing tournaments. All of this is detailed using yearly rake targets, denoting various "achievement bonus" levels, and more in the "FULL CHART and STATS" graphic below, just click on it to see the full chart!
How To Convert Combat Points into T$:
To find out how Combat/Player Points can be converted to tournament bucks (T$) - which are then free to be converted into real money for play in Sit-aNd-Go tournaments, follow these simple steps:
#1 - In your poker client, click rewards. Then click the "store" tab.
#2 - A new browser window opens. Under categories, click "Tournament Bucks" [T$]
#3 - The available options for T$ purchase are listed. Use some or all of your Combat/Player Points and buy T$.
#4 - Once purchased, the T$ will be shown in your cashier.
#5 - Contact customer service (live chat for faster service) and asked to have your T$ converted to real money (1:1 value).
#6 - Once that is complete, your real money balance should reflect the added cash.
Being able to purchase T$ with Combat/Player Points and then converting them to real money adds tangibly better results than using your Combat/Player Points for cashing in store bonuses. Once you spend your points, however, they are only replenished by continued play at WPN tables.
Other Considerations and Notations: