- At the end of the calendar quarter, Palladium Elite will be removed, as will all instant cash and play-through bonuses that give more than 30% cashback.
- Players have until April to spend their points in the store, and players can also still reach Elite to cash in points at max value.
- The change is part of PartyPoker’s extensive plan to refocus the network on recreational players.
PartyPoker will remove its top VIP tier, Palladium Elite, and remove all bonuses that give more than 30% effective rakeback, the company announced on its website last week.
The changes will come into effect on April 1.
Top-tier players are recommended to cash in any points on the highest value bonuses possible by March 31. Players also have until this time to reach Palladium Elite so they can access the high bonuses in the store.
“We believe the change will allow us to manage our poker room more effectively and ultimately allow for fairer distribution of bonuses across the network,” a Party Poker representative explained in the announcement.
PartyPoker currently offers five different VIP tiers: Bronze, Silver, Gold, Palladium and Palladium Elite. Players achieve Palladium levels by reaching a certain number of points in a calendar quarter.
Achieving Elite allows players to spend 300k points on either $50k instant cash, the equivalent of 33% rakeback, or a $75k bonus with a play-through requirement, worth 50% rakeback.
With the addition of other monthly promotions, players can often reach up to 65% rakeback or more, making it comparable to PokerStars Supernova Elite status.
Elite VIP players also receive a “bespoke concierge service” and a “dedicated VIP host,” according to the website.
From April, this level will be removed. The $20k and $75k poker bonuses will be also removed from the store, as will the $50k instant cash offer.
The change may bring a some benefit to existing Palladium players. Currently their top bonus is $3k for 30% rakeback, with a play through requirement. Come April, they will should have access to the $15k instant cash bonus, which currently is only open to Elites.
“Optimizing the Poker Ecology”
Bwin.party originally hinted that it was shifting its stance on its approach to courting high volume players back in August 2012. In its half-year financial results, the group announced a comprehensive plan to “optimize the poker ecology” and refocus on the recreational player.
“Rebalance bonus packages in favor of recreational players” was one part of “phase 1,” which also included the removal of high stakes tables, already implemented, and the introduction of its fast-fold poker product, which went live later in the year.
There has been no announcement yet of increases at the lower tiers as part of the “rebalance” strategy.
Also part of its four-phase plan was the merger of its two player pools, which it completed just before Christmas. It briefly put the network ahead of Full Tilt Poker in terms of cash game traffic.
It it also touting its “all new poker platform,” which was originally slated for a Q1 release. The latest financial statement is now predicting its debut in the first half of the year.