Party Hosts Month-Long Rake Race
By Rocco Havel | April 30, 2009
Party Poker has announced the details for a month-long rake-related promotion that promises to give away $1 million in cash and prizes, including a $20,000 package to the 2009 World Series of Poker Main Event in July. The promotion, entitled The Million-Dollar Race, will kick off at midnight on May 1st and will continue all month long until May 31st.
Party will be keeping track of the players who generate the most number of Rake Points over the course of the month of May and the top 3,000 players will receive cash prizes and possibly win entries into tournaments ranging from satellite events on Party Poker to $1,500 preliminary events at the World Series of Poker (WSOP) to the WSOP Main Event itself. The prizes will vary based on where a player finishes in the final standings. Everyone who finishes in the top 3,000 is guaranteed at least $20 in cash while the top 300 players will all earn at least $1,000. Those skilled enough to finish in the top five slots will receive the following cash payouts:
1st - $20,000 and WSOP Elite Package
2nd - $18,000 and WSOP Elite Package
3rd - $15,000 and WSOP Elite Package
4th - $10,000 and WSOP Experience Package
5th - $9,000 and WSOP Experience Package
In an effort to spread the wealth amongst the smaller stakes players, Party will be giving out satellite entries and WSOP tournament packages to the top ten finishers as well as those players who finish in benchmark positions like 50th, 100th, 1,000th and 2,000th place.
Those who finish in the top ten will receive the nicest of the prize packages: the WSOP Experience and WSOP Elite packages. The Experience package offers a buy-in to one of the $1,500 preliminary events, hotel accommodations, travel for two and an opportunity to tour a nearby Nevada tourist attraction like the Grand Canyon or the Hoover Damn. The Elite package, which will be awarded to the top three rake race finishers, covers travel and hotel expenses in addition to the $10,000 buy-in for the Main Event.
Party Poker will be using a points system called Race Points to keep track of the leaderboard standings. These are not the same as PartyPoints, which are used to reward frequent players on the site with prizes and cash bonuses. In order to calculate Race Points, Party will be using the following formula:
Total rake per user per hour / Total hands per user per hour * Total raked hands per user per hour) * X = Race Points
The “X” is a multiplier based on the average rake taken per hour from that customer and ranges from one (an average rake below $.01) to five (an average rake above $.10). The leaderboard will be updated hourly so players can track their progress in comparison to the competition as the race progresses throughout the month.
The full terms and conditions of the promotion can be found at Party Poker’s official site, www.partypoker.com.
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