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As a Rakeback Nation player at Absolute Poker or UltimateBet, we wanted to make sure you were aware of a time sensitive change to the terms of your rakeback deal on Cereus:
Starting March 1st, when you spend points in the UB or Absolute Poker points store, the points spent will be deducted from your rake at a rate of $1 per 100 points spent. If you intend to spend your points, you are best to do so before the end of the day on February 28th.
Note that it is still beneficial to earn and spend points because the deduction is made from Rake and not your Rakeback amount. For example, if in March you generate $1,000 in rake and spend 10,000 points, you will receive:
$1,000 in rake
$100 deduction for points spent (that is, 10,000 * .01)
$900 in Net Rake
$270 in Rakeback
Spending 10,000 points costs you $30 if you do so March 1st or later. If you spend them before the end of February, there is no deduction for spending points.
These changes are effecting all rakeback players on Absolute and UltimateBet, not just Rakeback Nation Members.
Please let us know if you have any questions.
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