Poker rakeback is definitely not a new term for people who play the game of Poker, either in casinos or online. Individuals interested in playing Poker for the first time must know what the term refers to and how it is used; otherwise they may lose easy-to-earn money. Before defining rakeback, let us first understand what the term rake means. A poker room profits by charging money from players who play with real money. This is the single way through which these rooms can earn money. This is because in this game, players bet money against each other instead of the house. This money earned by the poker room is termed as rake.
The room does not make money when players lose, but, instead, they rake in money from the cash pot after each game and from entry fee charged for every tournament. The rake charged is up to about 5% of the cash pot, whether one plays physically in casinos or online. This rake percentage seems to be low, but when accumulated over longer periods of time it adds up to significant numbers and big players contribute thousands of dollars of rake a month.
Moving on, a rakeback is the refund of money charged from the players by a poker room. Through rakeback, players can save money on rake costs. This often serves as a motivating factor for both professional and amateur or first-time players. When a player opens a new account in any of the poker rooms of an online casino through any website, he/she saves between 20% and 30% on average. Once the account is registered with the website, the site keeps track of the total amount paid by the player as rake. The website system credits part of this rake amount to the player’s online poker account. The rakeback is usually paid once a month.
Poker rooms calculate the personal rake contribution of a player in two ways – shared and contributed. In the shared method, the money earned as rake is equally divided among all the active players. For instance, if the rake earned is $1 and the number of players is10, then each player will be allocated a rake of 10 cents. However, in contributed method, players have to contribute money to the cash pot in order to get the rake assigned to them. The rake credited to the player is proportional to his/her contribution to the cash pot. For example, if a player contributes $50 to the cash pot of $150 with the total rake being $3, the player would be given a rake of $1.
So, what you need to do in order to earn rakeback, is to select a room from any of the websites offering online poker games and request a rakeback deal.
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