Rakeback is a term that many on-line poker players are not familiar with. These are the fees that a person pays for each pot that is played on a poker game. A person playing poker for several hours per day, or playing several tables, can spend a lot of money on the rake of the games they play.
On-line poker sites calculate the rake for each pot in a game. This amount usually is 5% of the pot and caps out at $3 per pot. But, if a person plays many pots each day this fee can quickly add up. The fees can "rake" up fast. This is where the term "rakeback" came from.
The calculations for a rake are different for on-line poker websites. Some calculate the rake on the pot and number of players at a table. Other sites make the rake calculation based on the pot and the number of people actually playing for a pot. Research has shown that the websites make about the same amount of rake with either calculation method.
Participating in a rakeback plan, a player can get some of the pot fee back. Rakeback websites receive from 35-45% of the rake from on-poker sites. A player registered with the site receives a percentage of the money that has been collected from these sites.
Rakeback websites work with different on-line poker sites and they show a list of the participating on-line poker sites. The rakeback site will also show the percentage of rake that a poker site is paying, any promotions or tournaments that are being held on the site, and other money that may be available to players on that site.
Many poker websites also offer bonus to players for registering and participating in games. These bonuses are given to players when they make a deposit. In some cases the bonus will match the deposit invested up to a certain amount. Any money invested over the bonus amount automatically receives the maximum bonus offered. Rakeback includes this bonus in the amount of money that is paid out from their site.
There are many incentives offered to registrants on rakeback websites. Many of these sites work with on-line poker sites offering rakeback at their site. An individual can play poker on the on-line poker site and receive rakeback at the site. Then, they receive money from the rakeback website as well.
Many on-line poker players are unaware of rakeback and lose the opportunity to get money from playing on-line poker even when they lose. One will want to include registration with a rakeback provider when they are considering playing on-line poker.
The author is a successful limit cash game player. He plays poker online and receives Victory Poker Rakeback as well as Rakeback at Paradise Poker.
