Lastest Flybuys - Velocity Transfer promotion [share in 10m points]

[aussiejohn]

I can't see this mentioned anywhere, so I will risk starting a new thread!

Got an email last Thursday (Jan 17th) outlining their latest promotion to get you to transfer Flybuys across.

TRANSFER YOUR FLYBUYS POINTS TO VELOCITY TO WIN!

Everyone's a winner thanks to flybuys and Velocity.

Everyone who transfers flybuys points to Velocity between 17 January - 15 February 2019, will receive a share of 10 million Velocity Points. The more times you transfer, the bigger your share.

PLUS, every point you transfer from flybuys to Velocity is an entry into the draw to win 1 of 30 $1,000 Virgin Australia vouchers!

Now I am not sure about this. Sounds good in theory, but I usually wait until the 15% bonus points promos come along before transferring.

Any statisticians out there who would like to make an estimate as to how many points you might hope to get? My back of the envelope calculation says if 100,000 Velocity members take up this offer, they would get the princely sum of 100 additional points. Last I heard there were umpteen million Velocity members, though of course not all will be Flybuys members. My gut feeling is to steer clear of this as Velocity would have done their homework, and the amount of bonus points for each participant will be derisory. The 15% offer at least pays 130 bonus points for each 2000 Flybuys points you transfer.

 

[Albert Hoffman]

Its a gamble, but perhaps a gamble worth taking, The last offer like this was in November 2017, where 7 Million Velocity points were shared amongst velocity members making a purchase at BP. I received 896 bonus points for a purchase of 12 dollars. Considering that 10 million points are shared amongst members making a flybuys transfer to velocity, as opposed to all velocity members making a purchase , its seems that the bonus points will exceed the usual 15 percent total. plus there was a flash 15 percent bonus offer a few weeks ago that maybe already lowered the pool of people with points to transfer. I'm going to go for it

 

[clipped_wings]

I be like - THREE POINTS - WOO HOOOOO!!!!

 

[Albert Hoffman]

There is another offer if you book a flight with Virgin over the next couple of days "Simply register below with your Velocity membership number, book an eligible Virgin Australia fare or Virgin Australia Holiday Package between 14-25 January 2019, and we’ll reward you with your share of 25 million Velocity Points*." Has anyone had any previous experience with these offers and what did they recieve?

 

[Bagpuss]

Must admit I saw this offer on the website and took a gamble as I normally wait for the 15% bonus.
Didn’t want to make it public so I’d hopefully get more points.

 

[Mattg]

It will be interesting to see how many bonus points are awarded after this promo ends. It will give us an idea of the volume of Flybuys points being transferred to Velocity in a typical month.

 

[Mr H]

It looks like low risk/low reward to me. The 15% bonus is really not much. For a transfer of 50,000 flybuys points, the 15% bonus is only 3,250 velocity points. Better to have than not to have, but hardly something worth losing sleep over losing some/all of that.

 

[Mr H]

Interesting thing in the fine print is it says the total prize pool has a value of $421,237.11 which prices a Velocity point at 4 cents. Some of us may question that valuation.

 

[Harthagan]

Interesting thing in the fine print is it says the total prize pool has a value of $421,237.11 which prices a Velocity point at 4 cents. Some of us may question that valuation.

For my purposes the max value i can squeeze out of a point is 2.5 cents. But points are not anywhere near as easy to use as cash (for flights) especially if trying to get max value, so that needs to be factored in as well.

 

[aussiejohn]

Interesting thing in the fine print is it says the total prize pool has a value of $421,237.11 which prices a Velocity point at 4 cents. Some of us may question that valuation.

You might need to recalculate that figure on points value. The TOTAL prize pool is $421,237.11. Surely you need to take off the 30 major prizes of $1000 flight vouchers leaving a total of $391,237.11 for Virgin's valuation of the 10 million points. Mind you it would be fair to say that a $1000 flight voucher is not costing Virgin $1000 in cold hard cash. I'm intrigued by that 11 cents! Their accountants must be seriously hard-core.

 

[Harthagan]

You might need to recalculate that figure on points value. The TOTAL prize pool is $421,237.11. Surely you need to take off the 30 major prizes of $1000 flight vouchers leaving a total of $391,237.11 for Virgin's valuation of the 10 million points. Mind you it would be fair to say that a $1000 flight voucher is not costing Virgin $1000 in cold hard cash. I'm intrigued by that 11 cents! Their accountants must be seriously hard-core.

That is still 3.91 cents per point.

 

[AustraliaPoochie]

Personally, I think its a game.
I have transferred many times my FB points to VFF, but since the tie in started, and over time, many 870 VFF points from my 2000 FB points, I have not "won" any thing from VFF.
No BONUS points, no Bonus SC, nowt!
Not happy.
I have never won the VFF and FB chook raffle.
In fact, I think I get less FB linked SC than if I actually fly a sector, spend $500 and should get 5 FB linked SC, but its usually only 1 or 2 FB SC that appear.

 

[Mr H]

You might need to recalculate that figure on points value. The TOTAL prize pool is $421,237.11. Surely you need to take off the 30 major prizes of $1000 flight vouchers leaving a total of $391,237.11 for Virgin's valuation of the 10 million points. Mind you it would be fair to say that a $1000 flight voucher is not costing Virgin $1000 in cold hard cash. I'm intrigued by that 11 cents! Their accountants must be seriously hard-core.

That is still 3.91 cents per point.

Yes, that's how I calculated it and rounded up to 4c per point.

 

[ff-jr]

Personally, I think its a game.

Most of them are luck of the draw, and this is in part (the VA voucher prizes) but the main component is about splitting the kitty proportionately.

Can confirm these promos aren't scams - I was a winner in last March's bonus points promo (1 in 10 points transfers are matched).

 

[yh088]

I just transfered the minimum so it's an entry... going to wait for the next bonus for my bulk point transfer!

 

[Jurahn]

There is another offer if you book a flight with Virgin over the next couple of days "Simply register below with your Velocity membership number, book an eligible Virgin Australia fare or Virgin Australia Holiday Package between 14-25 January 2019, and we’ll reward you with your share of 25 million Velocity Points*." Has anyone had any previous experience with these offers and what did they recieve?

I registered for that promo as I needed to book some flights recently, so will try to remember to report back as to whether I actually receive anything!

 

[Kremmen]

The more times you transfer, the bigger your share.

Interesting that they are doing the bonus ("minor prize") on number of transfers, not quantity of points. I wonder how many people will transfer more than 2k points at a time and do themselves out of bonus points?

 

[Mattg]

Interesting that they are doing the bonus ("minor prize") on number of transfers, not quantity of points. I wonder how many people will transfer more than 2k points at a time and do themselves out of bonus points?

I didn't interpret it that way originally, but reading it again I think you may be right!

 

[GJB68]

Have previously used the 15% bonus transfer offer but decided to give this latest promotion a go.
Have transferred 2K Flybuys points x 24 times = 20,880 FF.
Will let you know what I "win". Fingers crossed it is more than 15%.

 

[Direct Flight]

2K Flybuys points x 24 times = 20,880 FF

I'm also new here. So just racking up forum replies.

FWIW, I've transferred 2K Flybuys points x 12 times, so exactly half yours.. i'll track it too and report back.