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What Is In The CFP Spin&Go Contract?

 If you would like to read the text of the contract now, you can read it below. For updated versions, please check our standardized contracts here.
 
 
 
 
The CFP Contract
 

Sharing of information / Non-Disclosure Agreement

The player will be given information from the BPC team and coaches about the coaching program and business of BPC. Under no circumstance is the player allowed to share details of the cooperation, strategy and any business details with anybody unless given written permission by BPC to do so. When in doubt what can be shared with the public, ask BPC.

 

Security Deposit

Before entering the CFP program, the player will pay a Security Deposit of 500 EUR to BPC. BPC will return to the player his Security Deposit after the player has successfully finished the CFP program. Before that, this Security Deposit is non-refundable. The reason for this is that our coaches are very expensive (we only work with the best) and we don’t want people to join, win a lot and run away.

 

Profit split

The profit split will be 50% of all winnings until you have reached the 10.000€ profit mark. Here is a very important exception. If your winnings are still below 10.000€, and you hit a big multiplier and win 15000€, then you will pay 50% of that big win even if the total amount exceeds the 10.000€.
Practical example: John has been studying hard and after 2 months has made already 7000€ in profits. It is his lucky day and he hits a big multiplier and he wins 12000€. As per the rule, he owes to BPC 6000€. He has already paid 3500€ and will pay another 6000€. The total amount paid will be 9500€ in this example.

Why is this fair? Spins have a very high rake and part of that rake goes into financing multipliers. We lose and win together.

After our deal, you have a world-class education and keep 100% of all future profits to yourself! You might need to be lucky to hit a big multiplier, but we are going to make sure that you have the right skill set to take it down.

 

Termination of the contract

The contract is automatically terminated successfully once the player has paid the full amount of the coaching for profits agreement.

 

Quitting before the end of the contract:

The student can end the contract at any time. We understand that sometimes life happens. While we believe it is very important to not quit, you should still have that option if it is really needed. The student understands that while the total deal is 50-50, BPC claims a higher % on the first money won, because we take all the risk of giving an expensive education and high-quality coaches to the player. In comparison, at “normal coaching” you will pay a lot of money without any guarantee that you will win anything. Here are the exact numbers and % in case you decide to quit:

Player Profit

% of profit

Profit owed to BPC

0-6000

80

4800

6000-12000

60

3600

12000-18000

50

3000

12000-24000

40

2400

24000-30000

20

1200

 

Example:

John joined the program 5 months ago and he made 5000 Euro in profit so far. But now his wife got pregnant and his boss needs more work hours, so he doesn't have time for poker anymore, and has to quit the program. How much of the profit share does he pay according to the contract?

1600€+1200€+500€ = 3300€. Since he already paid 1600+1200€ in previous months, he now needs to pay only 500€ ( 50% profit share from 4000€-5000€ mark). That means that in order to quit he needs to pay his last profit share of 500€.

 

BPC Share payments

BPC will request payments monthly, and typically between 25-50% of the player’s overall profits. We have made many exceptions (lower cash outs) for players demonstrating extra effort.

 

The student is obliged to respond to the cash-out request. BPC will notify the students via email several times if the requested payment has not been made by the student within 15 days. Any issue can always be discussed with the BPC team. However ignoring all communication for 15 days or more will result in termination of the agreement, and a loss of the security deposit. We understand life can happen, but please do not ignore our messages for 15 days with no response. Communication is key, and any issue can always be resolved positively, as has been the case many times in the past. 

 

Example A:

Frank is a 6-max Micro student. During March, he made 940 EUR in profits at the table. At the start of April, he will receive a BPC share payment request between 240-470 EUR.

 

Example B

John is a HU Soldier student. During March, he made 4800 EUR in profits at the table. But he wants to move up to NL400, and needs the bankroll. He is serious, does all the homework, plays and studies practically every day. He asks BPC to postpone his March payment, and the payment is postponed. We understand that the faster the player moves up, the better it is for both sides. But the player has to demonstrate that he is really pushing for it himself. Words do not count - action speaks louder than words.

Financial decisions and bankroll management

During the contract, all financial decisions regarding the student's bankroll for the program must be approved by BPC. If the player needs to make a cashout from this bankroll, he has to do this via request to BPC, to keep the accounting clean. We are 100% professional and past winning players have thanked us for their guidance on “non poker” issues as well.

 

Updating results

The player has to update his progress on each playing day in the software provided by BPC. Taking breaks or vacation is allowed, but has to be communicated in advance. Disappearing for more than 7 days without notice may result in account termination.

 

Upon request by BPC, the player will give access to his tracking program and access to his accounts on the poker clients in order to verify the information (via Teamviewer, we will never ask for passwords or other security information).

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