Everest Poker offers a 100% matching bonus up to $200 for all initial deposits that use Everest Poker bonus code WELCOME. For example if you use the Everest bonus code and make an initial deposit of $200, you will receive the maximum $200 pending bonus.
In order to release the bonus into your real money account you must play in Everest Poker tournaments and cash games in order to earn SUMMIT points. Every point you earn is worth $0.07 of your bonus.
You earn 8 SUMMIT points for every $1 you spend in tournament fees at Everest Poker. For example if you play in a $20 + $2 tournament you will earn 16 points. Since each point is worth $0.07 and you receive 8 points per dollar paid in tournament fees, this means that your bonus is cleared at a rate of $0.56 for every $1 spent in tournament fees. This is an extremely good rate as it is much higher than the average ratio which is about $0.30 for every $1 paid in fees and is much better than some rooms such as CD Poker whose bonus clears at a rate of $0.12 per $1 paid in fees.
In cash games you earn SUMMIT points depending on the amount of rake taken from a ring game hand. Unlike many other poker rooms Everest Poker awards more points to players playing on short-handed tables than at full ring tables. For example if a hand rakes $1 at a 6-handed table 1.4 points are awarded, compared to only 1 point being awarded at a full 10-handed table. This is very fair because the percentage of the rake contributed would be more per person at the short-handed table so they deserve to receive more SUMMIT points. This basically means that playing a cash game table with any number of seats is fairly equal when trying to clear your bonus.
Your bonus is released into your real money account every time you either finish an Everest Poker tournament or stand up from a cash game table. For example, if you play a $20 + $2 tournament, when you finish the tournament, the $1.12 that you earned from your bonus will be added to your account. Similarly if you earned say 140 points from a cash game table, when you stand up $9.80 will be instantly added to your account. This is great because you are clearing your bonus instantly, rather than having to wait to get to certain intervals like you have to do at other sites. You have 30 days to clear as much of your bonus as possible.
Everest Poker’s initial deposit bonus is very solid for players. The maximum amount is a little bit small, but the extremely player friendly clearing conditions more than makes up for this. The $0.56 per $1 paid in tournament fees is a great rate for players and the cash game rate is also very good. The 30 day time frame is a little bit short, but since the bonus is small and clears fast there should be no problem clearing an entire $200 in a month.