What is Rakeback?
Introduction to Poker Rakeback
In order to understand what rakeback is, it is important that readers know what the rake is. Only then will they be able to fully understand or grasp the definition. Rake is essentially an entry fee for poker players and is how the casino makes their money on poker games. Because poker game involved players who are competing against each other, the casino does not make any money unless they charge a percentage of the pot. The rake is the percentage of the pot that the casino or poker room keeps for themselves. The exact percentage will differ based on the particular casino. A cap does exist and it is only a small portion of the pot. Casinos give players back some of the money that they pay in the form of a rakeback.
Poker rooms make a lot of money from the rake. This is a largely because there are lots of poker games going on at many online casinos or poker rooms. The rakeback is sort of like a refund. The casinos are giving players some of the money back that they have paid in rake fees. Players can expect somewhere between 25% and 40%. This can quickly add up and become a lot of money. For example, if an individual receives a 20% rakeback and their rake is $1000 over a month, they would receive $200. In order to receive these monies, an individual will obviously have to be a member of a poker room. Each poker room will have their own rules and guidelines. To learn more about a poker rooms’ program simply scroll through their website. Contact someone if you are not able to find this information on your own.
If you are an individual that plays in games with lots of pots, you should definitely sign up to get rake back because it will give you a chance to be refunded a good deal of your money. There is little sense in paying out lots of money if you don't have to. When you have a chance to recover some of that money, don’t hesitate to do so.
There are really few disadvantages to rakeback unless you begin to play more just to receive money. This is sort of akin to clipping coupons and using them to buy things that you don't want or don't normally purchase. In those cases you aren’t really saving money. If you start playing in a lot of games that you wouldn’t normally just to get rakeback, this defeats the purpose. However, if you are an individual that plays quite a bit, then failing to take advantage of this “refund” is leaving a lot of money on the table that is rightfully yours.
The rake back percentage that a casino offers will differ. Some will pay more than others. For example, Full Tilt Poker offers rake back at 27%. Others offer 30%. Find out what each casino you are considering joining is offering before you join though this should not be the only thing that you take into account.
If you already belong to a particular poker room but haven’t signed up for rakeback awards, it is important that you do so. You may need to email someone in customer service to get more information. It may require a bit more effort. However, the pay offs should be worth it. Understanding the restrictions and requirements from the beginning will make the process of understanding, collecting and using your rakeback much easier. However, if you get in later in the game, this is fine. Just do what you need to get signed up. Again, take a look at the website for details. If you can not find the information that you need, contact someone from the casino.
Most casinos and poker rooms will offer rake back and will have some type of program in place. Some will obviously be more generous than others. However, you will want to take more into account than just the percentage being offered. You will also want to make sure that you are playing at a reputable website and one with a decent amount of traffic. If you can’t get in any games, you won’t be ale to play. While it is important to consider the percentage of rake back, you also want to make sure you are spending time at a reputable and trustworthy website.