'Tis apparently the season for freerolls. Lost in the hubbub over the bg PokerStars freeroll was the announcement that Caribbean Sun is offering a $200,000 freeroll for the 2005 Caribbean Poker Classic at St. Kitts. The freeroll is giving away 10 $10,000 trip packages, as well as 20 $5,000 packages. Everyone who accumulates over 2,500 in CPC Points (their point system for raked hands for this promotion) from October 1st through October 31st will qualify to play in the $200K CPC FREE ROLL on November 6th at 17:00 UK Time.
CPC Points are determined by using the Raked Hands formula - 1.00 point for a raked hand of 1.00 unit or more and 0.25 points for a raked hand of 0.25 to 0.99.
Not a bad deal, if you're willing to grind out lots and lots o' raked hands in October.
An additional side benefit is that you can double up and get a monthly bonus at Caribbean Sun while you're grinding. For new players, they offer a $50 signup bonus, plus a $40 monthly bonus. (If you already have an account, you just get the $40 monthly bonus). For new players, the bonus clears concurrently (i.e. your raked hands count simultaneously towards both the new player and monthly bonus).
To clear both bonuses, you have to get in 250 raked hands. (250 for the new player bonus and 200 for the monthly bonus). Here's their definition of a raked hand:
"In order for a Raked Hand to count toward releasing the bonus money, $1.00 or more in rake must be generated in the hand. *Beginning September 1, 2005, as a special feature for our smaller limit players, for each hand you participate in which generate at least 0.25 units ($/£/€), but less than 1.00 unit ($/£/€) of rake, will count as 1/4 (or one quarter) of a raked hand toward clearing your bonus."
All in all, a pretty sweet deal, and the field for the freeroll could end up being pretty dang small, as I don't imagine too many people play enough there on a regular basis to qualify. Even if you don't make it through all of the necessary hands to qualify for the freeroll, it's just 250 raked hands for a $90 bonus, which ain't shabby at all. Caribbean Sun is a Crypto site, which means it can be uber fishy at times, with yahoos wandering in from the casinos. One thing to note, though, is that the Crypto cashier system requires for you to have a PIN snail-mailed to you first before you can cashout, so be sure to put in your correct mailing address when signing up and be aware that you'll have to wait 5-7 business days before you get the PIN and can cash out any money.
I'm definitely going to grind this one out, as I loves me some freerolls and I've always pulled in a steady profit from playing at the Cryptos, aside from any of the bonus money they generously hand out every month.