In a forum post Full Tilt poker room manager Shyam Markus announced the site will initially launch without Iron Man, Black Card or affiliate-paid rakeback.
Instead the site will offer weekly cash payments based on the number of Full Tilt Points players are able to generate. The program tops out at $2.50 for every 100 FTPs earned, which works out to 25%.
The weekly cash payments don’t use up FTP points and players will still be able to use them in the store.
Because the payments are based on points earned, FTPs will now be earned using the weighted contribution method, which tends to even the playing field for less-serious players.
Full Tilt also claims that because there are no deductions of fees, the new program will beat the former 27% rakeback that was offered on the site.
An updated Black Card program will eventually return to the site. Full Tilt will release more information about the program in the coming months.
According to Markus, Full Tilt was already planning on revamping its rewards program before PokerStars even entered the picture with the idea of making it simpler for new players.
You can see the complete statement from Full Tilt Poker here.
Full Tilt Does Q&A on Imminent Re-Launch
Shyam Markus also took the time to answer several questions from TwoPlusTwo poker forum members in the announcement. Here's a look at some of the most pertinent answers:
Is the countdown on the website also counting down how many days until we can download the software?
- Actually, no. The current plan is to allow players to download, install, and even log in before November 6th. We want to make sure the 6th runs as smoothly as possible, so there will be some heavy testing time built into the re-launch.
Will the rakeback we were due to get paid be in our accounts when it re-opens?
- Yes, that last week in June will be still be paid out. Expect an email in the next couple of weeks detailing any changes to your account balance since we went down (because of various promotions that are going away or were interrupted, or tickets that expired, etc…).
Will the log-in PIN (not the name/password) still be used and unchanged?
- Yes, any additional security you were using will still be in effect when we come back up.
Will there be accounts in both € and $ like on PokerStars?
- Not at re-launch, but there is a project to allow for a multi-currency cashier.
Will Full Tilt Poker start on November 6th at midnight?
- No. The actual start time on the 6th hasn't been announced yet, but it won't be exactly at midnight.
Has it been confirmed that the site to site transfers will be up at re-launch?
- That hasn't been confirmed yet. I can say that it's looking likely it will be ready in time, though, so we have high hopes the feature will be available at re-launch.
Are there any plans to allow US players to redeem their points for merchandise or for anything else?
- Assuming the current US laws don't change, the only way a US player would be able to redeem their points is if they move to a country that allows them to play on fulltiltpoker.com for real money. Once verified, they'd be able to make use of the points still in their account.
What will the process be for pairing Stars and FTP accounts?
- The exact process hasn't been announced yet, but it will be as quick and painless as possible. It will involve logging into both sites and using a "pairing code" to link the accounts.