What is Rakeback?
Online poker has become a huge business in recent years, with casual gamblers and professional poker players all getting involved in online games. Many poker sites offer loyalty schemes and periodic bonuses for players, though one less commonly advertised scheme which can be very profitable for regular players is the rakeback scheme.
What is Rakeback?
First introduced in 2004, a rakeback scheme is a system where players can claim rewards for their loyalty to specific poker sites or affiliates. By requiring a ‘rake’ – or a percentage of the pot in a cash game – from players, poker sites fund their businesses as well as ensuring online poker remains a profitable industry. A rakeback scheme essentially offers players a discount on the amount they are charged to play poker, thereby maximising any profits made. Players sign up to a particular scheme and then are awarded cash back depending on how often they play and the stakes they are playing for.
How Does it Work?
When playing poker in cash games, the rakeback can be calculated using one of three methods. It can either be calculated by the dealt, contributed or shared method. The ‘dealt’ method will allocate the same amount of rakeback to each player involved in a hand, whereas the ‘contributed’ method will award the rakeback based on the amount of money each player has contributed to the hand. The ‘shared’ method is similar to the dealt method, but players must have made a contribution to the pot in order to receive a share of the rakeback. Rakeback is a scheme which rewards players the more often they play. If a player is playing online poker on a regular basis then a rakeback scheme is a great idea to ensure they are maximising the potential for profits from their poker playing. Many professional poker players make a considerable amount of money each year just from rakebacks; however, even small stakes players can see a rise in profits. Ultimately rakeback schemes are a good deal in that they offer free money in exchange for loyalty.
How to Get Involved
Poker sites do not commonly promote their rakeback schemes when players are signing up, so it is a good idea to research the site and find out if any rakeback schemes are available. The schemes are largely aimed at gaining customer loyalty from regular poker players rather than casual players, which is why these schemes often aren’t offered to everybody registering at the site.