Possible additional redemption option (idea):

Is there any way that you can set it up where members can exchange points for cash on say a Visa or Mastercard debit card?

I am not sure how it would work, but I have worked for companies where it is an employee benefit program. Employees get points for various positive activities and these points accumulate and can be redeemed for cash on a (corporate branded) Visa/Mastercard gift card. A cursory search didn't turn up anything right away but maybe you have more contact with another provider who could help.

The benefit to this is that this would provide an option for players to actually deposit on their favorite sites (granting them whatever deposit bonuses apply) or they can use the cash to play in real life poker tournaments or... anything they want really.

If I was going to run this on this site, I would make it cost more points/dollar than redeeming for money straight to individual poker sites as sort of a transaction cost of flexibility. That, and I am pretty sure it would cost you money to have the capability to get people these cards.

Something to think about...